The Thai stock market has experienced a positive trend for two consecutive sessions, accumulating nearly 12 points or a 0.9% increase. The Stock Exchange of Thailand now stands just above the 1,365-point mark, but this upward momentum may pause on Thursday.The global outlook for Asian markets indicates minimal movement, in anticipation of key U.S. unemployment data to be released on Friday. European markets declined, while U.S. stock markets displayed mixed and flat performances, suggesting a similar trend may be expected in Asian markets.On Wednesday, the SET closed with modest gains, buoyed by the food, finance, and consumer sectors, despite weakness in industrials and resource companies. The index gained 0.89 points or 0.07% to end at 1,365.49, having fluctuated between 1,355.31 and 1,367.88 during the session. Trading volume was substantial, with 8.384 billion shares valued at 39.035 billion baht. Out of the traded stocks, 255 advanced, 205 declined, and 201 remained unchanged.Key performers included Thailand Airport, which rose 0.41%, Bangkok Bank, which fell 1.06%, and B. Grimm, which surged 3.96%. Other notable moves: BTS Group up 1.38%, CP All Public down 0.41%, Energy Absolute up 2.46%, Gulf advancing 0.49%, and Kasikornbank slipping 0.69%. Krung Thai Bank saw a 1.61% increase, PTT Oil & Retail climbed 1.32%, while parent company PTT dropped 0.75%. PTT Exploration and Production decreased by 1.08%, PTT Global Chemical fell 1.92%, SCG Packaging improved by 1.21%, Siam Commercial Bank declined 0.47%, Siam Concrete inched up 0.44%, Thai Oil fell 1.84%, and True Corporation spiked 1.96%. TTB Bank gained 1.09%, with Charoen Pokphand Foods, Krung Thai Card, Asset World, Advanced Info, Banpu, Bangkok Dusit Medical, and Bangkok Expressway remaining unchanged.Wall Street provided little direction, with the major indices opening mixed, hovering around the flat line for most of the day before closing with minor changes. The Dow rose by 38.04 points or 0.09% to finish at 40,974.97, while the NASDAQ dropped 52.00 points or 0.30% to close at 17,084.30, and the S&P 500 fell 8.86 points or 0.16% to end at 5,520.07.The lackluster performance on Wall Street is attributed to ongoing uncertainty regarding the market’s near-term outlook, following considerable volatility in recent months. Although stocks have rebounded significantly, concerns about the economic outlook continue to impede further gains.Oil prices dropped on Wednesday amid growing concerns about demand, following reports that OPEC plans to reinstate 180,000 barrels per day of voluntary production cuts starting next month. West Texas Intermediate Crude oil futures for October fell $1.14 or 1.6%, ending at $69.20 per barrel—a nine-month low.On the domestic front, Thailand is set to release consumer price data for August later today. Overall inflation is expected to rise by 0.47% year-on-year, slowing from 0.83%, while the core CPI is projected to remain steady at an annual rate of 0.52%.The material has been provided by InstaForex Company – www.instaforex.com
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