|
Headlines
Market news and breaking stories live from Dow Jones Newswires
Market Commentary
A technical analysis commentary of the major markets, only from INO
Smart Scan
A premium service, alerting you to changes in the market by web and email.
Extreme Futures / Stocks
Extreme Markets from all exchanges, updated throughout the trading day.
|
| |
|
Trade Triangle Technology, Advanced Charts, SmartScan, Trading Workshops.
The premier online video learning platform for traders.
Daily Portfolio Scan and Analysis
|
| |
|
Thai Shares Expected To Open Firm 84 days ago
(RTTNews) - The Thai stock market has finished higher now in back-to-back trading sessions, gaining nearly 10 points or 1.3 percent along the way. The Stock Exchange of Thailand ended just above the 705-point level, and now analysts are expecting the market to continue to climb at the opening of trade on Tuesday.
The global forecast for the Asian markets is firmly positive thanks to a rebound in the price of resource stocks - particularly the oil and gold companies, while the steel companies and properties also are tipped to provide support. The European and U.S. markets ended solidly higher, and the Asian bourses also are forecast to move higher.
The SET finished sharply higher thanks to strong gains from the energy stocks.
For the day, the index added 8.42 points or 1.21 percent to finish at 706.75 after trading between 700.67 and 709.38. Volume was 2.801 billion shares worth 18.782 billion baht. There were 193 gainers and 157 decliners, with 110 stocks finishing unchanged.
Among the gainers, energy giant PTT was up 0.85 percent, while PTT Exploration and Production added 1.85 percent, PTT Aromatic gained 3.52 percent and coal producer Banpu surged 5.56 percent.
The lead from Wall Street is strong as stocks saw notable gains on Monday, with continued indications of low interest rates from Federal Reserve Chairman Ben Bernanke and better-than-expected news from the retail sector generating considerable buying interest. The major averages all finished the day in positive territory by comfortable margins, setting fresh yearly highs.
Monday afternoon, Bernanke reassured the markets that a number of accommodative policies, including near-zero interest rates, would remain in effect for an extended period. He also noted that the Fed is attentive to the declining U.S. dollar, but will continue to focus on its objective of maximum employment and price stability.
"Our commitment to our dual objectives, together with the underlying strengths of the U.S. economy, will help ensure that the dollar is strong and a source of global financial stability," Bernanke said.
Early strength in stocks came following news from the Commerce Department that retail sales increased by 1.4 percent in October following a revised 2.3 percent decrease in September. Economists had expected sales to increase by 0.9 percent compared to the 1.5 percent decrease originally reported for the previous month.
Excluding a 7.4 percent increase in auto sales, retail sales increased by a much more modest 0.2 percent in October compared to a 0.4 percent increase in the previous month. The ex-auto sales growth came in below economist estimates of a 0.4 percent increase.
In a separate report, the Commerce Department said that business inventories fell by 0.4 percent in September following a revised 1.6 percent decrease in August. Economists had been expecting inventories to decrease by 0.7 percent compared to the 1.5 percent drop originally reported for the previous month.
Also on the economic front this morning, the Federal Reserve Bank of New York released a report showing that conditions for New York manufacturers continued to improve in November, although the pace of improvement slowed by more than economists had been expecting.
While the major averages gave back some ground in the latter part of the trading day, they managed to hold onto strong gains. The Dow closed up 136.49 points or 1.3 percent at 10,406.96, the NASDAQ advanced by 29.97 points or 1.4 percent to 2,197.85 and the S&P 500 rose by 15.82 points or 1.5 percent to 1,109.30.
For comments and feedback: contact editorial@rttnews.com
Copyright(c) 2009 RTTNews.com, Inc. All Rights Reserved
< Back to News Index
|
