Thai Shares Expected To Remain Rangebound

The Thai stock market has moved lower in two straight sessions, although it has given away not even 2 points in that span. The Stock Exchange of Thailand now rests just beneath the 1,685-point plateau and it's looking at another flat performance again on Thursday.

The global forecast for the Asian markets suggests little movement amid a lack of catalysts with some markets still on holiday. The European and U.S. markets were mixed and little changed and the Asian bourses figure to follow that lead.

The SET finished barely lower on Wednesday following mixed performances from the financial shares and the energy producers.

For the day, the index eased 0.83 points or 0.05 percent to finish at 1,682.11 after trading between 1,678.71 and 1,687.51. Volume was 13.850 billion shares worth 57.927 billion baht. There were 959 decliners and 456 gainers, with 557 stocks finishing unchanged.

Among the actives, Advanced Info added 0.50 percent, while Thailand Airport fell 0.33 percent, Asset World soared 2.48 percent, Bangkok Bank advanced 0.98 percent, Bangkok Dusit Medical retreated 1.69 percent, Bangkok Expressway surged 2.56 percent, B. Grimm gained 0.60 percent, CP All Public slid 0.36 percent, Charoen Pokphand Foods declined 1.67 percent, Gulf improved 0.93 percent, Krung Thai Bank lost 0.56 percent, Krung Thai Card rose 0.44 percent, PTT Oil & Retail slumped 1.29 percent, PTT Global Chemical increased 0.49 percent, SCG Packaging plunged 2.80 percent, Siam Commercial Bank sank 0.47 percent, Siam Concrete dropped 0.86 percent, True Corporation was up 0.41 percent and TTB Bank, Banpu, BTS Group, Energy Absolute, Kasikornbank, PTT, PTT Exploration and Production and Thai Oil were unchanged.