FX.co ★ Thai Shares Due For Support On Wednesday

Over the past two sessions, the Thai stock market has observed a slight decline, dropping marginally more than 5 points, which is approximately 0.3 percent. However, the Stock Exchange of Thailand is teetering just under the 1,380-point mark and may regain momentum on Wednesday.

Globally, the broader forecast for Asian markets is positive, primarily driven by optimistic anticipation regarding interest rates. Backing this upbeat outlook, both the U.S. and European markets closed higher, indicating a possible positive opening for Asian markets.

On Tuesday, the Stock Exchange of Thailand (SET) ended with a minor loss. Losses incurred in the sectors of food, industrial resources and services were somewhat balanced out by gains in the consumer, finance, property and technology sectors.

At the day's end, the index reduced by 0.60 points or 0.04 percent, concluding at 1,379.63. The trading varied between 1,374.69 and 1,385.65, with 23.899 billion shares worth 41.011 billion baht trading hands, and 194 stocks advancing against 247 declining, while 208 stocks remained stable.

Active participant firms experienced a mixed bag of results, with some realizing losses, others posting gains, and some remaining unchanged.

US major averages mirrored an optimistic outlook as all opened flat on Tuesday, but swiftly shifted to clear upward mobility, ending on a positive note.

The Dow Jones spiked 235.83 points or 0.61 percent to reach 39,005.49, while the NASDAQ escalated by 246.36 points or 1.54 percent to close at 16,265.64. The S&P 500 index rallied up 57.33 points or 1.12 percent, concluding at 5,175.27.

The robust performance on Wall Street mainly resulted from a positive response to the Labor Department's report on consumer price inflation for February. Despite core price growth decelerating slightly less than anticipated, it appears to bolster optimism about the Federal Reserve reducing interest rates by June.

The Labor Department plans to issue a separate report on producer price inflation for the month of February on Thursday.

Oil futures took a downturn on Tuesday following the U.S. inflation data release and ongoing concerns over the demand outlook. Specifically, West Texas Intermediate Crude oil futures for April witnessed a drop of $0.37, closing at $77.56 per barrel.