FX.co ★ Additional Support Anticipated For Thai Stock Market

The Thai stock market experienced a slight increase on Monday, following a four-day winning streak last week where it rose by approximately 35 points or 2.5 percent. The Stock Exchange of Thailand currently stands just above the 1,360-point mark.

Analysts predict that global forecasts for Asian markets will remain flat or slightly increase in anticipation of the Federal Open Market Committee's policy announcement on Wednesday. European markets experienced a downturn, while U.S. markets saw a slight increase, with Asian markets expected to fall somewhere in between.

The Stock Exchange of Thailand (SET) closed with a marginal increase on Monday, with profits from the food, finance, and industrial sectors counterbalanced by underperformance from technology stocks. The index climbed 2.03 points or 0.15 percent, closing at 1,361.97. The day's trading ranged from 1,355.36 to 1,364.70.

Active stocks varied significantly, with Advanced Info climbing 1.03 percent, while Thailand Airport increased by 0.39 percent, and Asset World advanced by 0.91 percent. There were also noticeable jumps in shares like Charoen Pokphand Foods, which spiked 2.15 percent, and True Corporation that rose by 2.61 percent.

Mild growth was observed on Wall Street, as major averages had a somewhat green opening on Monday, ending slightly higher. The Dow improved by 0.38 percent, the NASDAQ by 0.35 percent, and the S&P 500 by 0.32 percent.

The slight increase on Wall Street resulted from ongoing momentum from last week, influenced by positive responses to tech earnings. Trading activity remained relatively subdued as the market awaits the Federal Reserve's monetary policy announcement on Wednesday, which is widely expected to maintain current interest rates.

Oil futures fell on Monday due to concerns over growth and the demand outlook for oil. Also affecting the market was the increased likelihood of the Federal Reserve stalling rate cuts. West Texas Intermediate Crude oil futures for June decreased by $1.22 or 1.45 percent, to sit at $82.63 a barrel.

In local news, Thailand will reveal its figures for industrial production and current account for March today; in February, industrial production was down by 2.84 percent, and the current account surplus stood at $2 billion.