FX.co ★ Thai Stock Market May Add To Its Winnings On Friday

The Thai stock market has experienced gains for two consecutive sessions, accumulating over 20 points or approximately 1.7 percent in total. The Stock Exchange of Thailand currently hovers just above the 1,295-point mark and is expected to continue this upward trend on Friday.

Global forecasts for Asian markets are optimistic, driven by diminishing concerns over the health of the U.S. economy. While European markets were mixed and relatively unchanged, U.S. markets saw significant increases, suggesting a positive outlook for Asian markets as well.

On Thursday, the SET closed moderately higher as gains in the food, consumer, industrial, property, resource, and service sectors were tempered by losses in financial and technology stocks.

The index added 5.70 points, or 0.44 percent, to close at 1,296.25 after oscillating between 1,287.14 and 1,299.14. Trading volume reached 8.702 billion shares, valued at 36.240 billion baht. There were 340 advancing stocks, 143 declining stocks, and 171 stocks that remained unchanged.

Among the actively traded stocks, Asset World rose 1.81 percent, Banpu surged 5.38 percent, Bangkok Bank fell 1.13 percent, Bangkok Dusit Medical climbed 0.93 percent, Bangkok Expressway increased 1.35 percent, B. Grimm advanced 0.87 percent, BTS Group accelerated 4.79 percent, CP All Public rose 0.88 percent, Charoen Pokphand Foods slipped 0.43 percent, Energy Absolute soared 4.92 percent, Gulf declined 0.52 percent, Kasikornbank fell 1.15 percent, Krung Thai Bank dropped 0.56 percent, PTT Oil & Retail decreased 0.67 percent, PTT improved 0.78 percent, PTT Exploration and Production rose 1.71 percent, PTT Global Chemical rallied 2.10 percent, Siam Commercial Bank fell 0.49 percent, Siam Concrete dipped 0.75 percent, Thai Oil spiked 3.16 percent, True Corporation climbed 1.01 percent, and TTB Bank gained 1.20 percent. Krung Thai Card, SCG Packaging, Advanced Info, and Thailand Airport stocks were unchanged.

The positive lead from Wall Street was evident as major averages opened higher and gained momentum throughout the day, finishing near session highs.

The Dow surged 683.04 points, or 1.76 percent, to close at 39,446.49, while the NASDAQ rallied 464.22 points, or 2.87 percent, to end at 16,660.02, and the S&P 500 jumped 119.81 points, or 2.30 percent, to finish at 5,319.31.

The Wall Street rally followed a Labor Department report showing that first-time claims for U.S. unemployment benefits fell more than expected last week. This data helped reduce concerns about the labor market's strength, which had recently spurred selling on Wall Street.

On the corporate front, athletic apparel company Under Armour (UAA) and pharmaceutical giant Eli Lilly (LLY) saw their shares rise after reporting strong results, while Warner Brothers Discovery (WBD) shares fell following disappointing numbers.

Oil futures settled higher on Thursday amid potential supply disruptions due to Middle East tensions and expectations of increased demand in the U.S. West Texas Intermediate Crude oil futures for September closed up $0.96, or 1.28 percent, at $76.19 a barrel.