Shutterstock photo(RTTNews.com) - The Thai stock market has tracked higher in back-to-back sessions, gathering more than a dozen points or 0.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,805-point plateau and it figures to tick higher again on Monday.
The global forecast for the Asian markets is upbeat, thanks to firm economic data and another bounce in crude oil prices. The European markets were up and the U.S. bourses were mostly higher - and the Asian markets are expected to open in the green.
The SET finished modestly higher on Friday following gains from the financial shares and energy producers.
For the day, the index added 5.03 points or 0.28 percent to finish at 1,805.89 after trading between 1,802.39 and 1,809.75. Volume was 6.893 billion shares worth 37.776 billion baht. There were 702 gainers and 527 decliners, with 464 stocks finishing unchanged.
Among the actives, Advanced Info shed 0.51 percent, while Thailand Airport lost 0.72 percent, Banpu fell 0.46 percent, Bangkok Medical climbed 0.89 percent, Bangkok Expressway added 0.67 percent, Charoen Pokphand Foods dipped 0.44 percent, Krung Thai Bank collected 0.51 percent, PTT Global Chemical jumped 1.35 percent, Siam Commercial Bank picked up 0.34 percent, Siam Commercial Bank gathered 0.42 percent and PTT, PTT Exploration and Production, Bangkok Bank and Kasikornbank were unchanged.
The lead from Wall Street is generally positive as stocks moved mostly on Friday but turned mixed over the course of the session. The major averages eventually ended the day on opposite sides of the unchanged line.
The Dow added 19.01 points or 0.08 percent to 25,219.38, while the NASDAQ fell 16.96 points or 0.23 percent and the S&P 500 gained 1.01 points or 0.04 percent to 2,732.22. For the week, the NASDAQ jumped 5.3 percent, while the Dow and the S&P both surged 4.3 percent.
The mixed close came after Special Counsel Robert Mueller's office revealed that a federal grand jury has indicted several Russian nationals for allegedly interfering in the 2016 presidential election. The indictment does not allege collusion between the Russians and President Donald Trump's campaign but could still cause headaches for the president.
In economic news, the Labor Department said import and export prices jumped more than expected in January. Also, the Commerce Department noted a rebound in building permits and new residential construction in January. And the University of Michigan noted improvement in consumer sentiment in February.
Crude oil futures rose Friday, even as the U.S. oil rig count jumped for a fourth straight week. West Texas Intermediate crude for March delivery rose 34 cents or 0.6 percent to $61.68 a barrel. For the week, prices rose 4.2% and moved back toward January's four-year highs.
Closer to home, Thailand will provide Q4 figures for gross domestic product later today; in the three months prior, GDP was up 1.0 percent on quarter and 4.3 percent on year.
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