Thai Stock Market May Spin Its Wheels On Wednesday

The Thai stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had picked up more than 7 points or 0.5 percent. The Stock Exchange of Thailand now rests just beneath the 1,685-point plateau and it's likely to remain in that neighborhood again on Wednesday.

The global forecast for the Asian markets is murky, with profit taking likely after recent gains - especially among the oil and technology companies. The European and U.S. markets were mixed and little changed and the Asian bourses are tipped to follow suit.

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

For the day, the index eased 1.10 points or 0.07 percent to finish at 1,682.94 after trading between 1,682.58 and 1,693.97. Volume was 13.838 billion shares worth 56.587 billion baht. There were 866 decliners and 527 gainers, with 573 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.50 percent, while Thailand Airport added 0.67 percent, Bangkok Bank collected 0.33 percent, Bangkok Dusit Medical retreated 1.67 percent, B. Grimm gained 0.60 percent, BTS Group climbed 1.16 percent, CP All Public improved 1.08 percent, Energy Absolute lost 0.56 percent, Gulf advanced 0.93 percent, Krung Thai Bank increased 0.56 percent, Krung Thai Card fell 0.44 percent, PTT Oil & Retail dropped 0.85 percent, PTT sank 0.74 percent, PTT Exploration and Production skidded 1.15 percent, PTT Global Chemical gathered 0.49 percent, SCG Packaging plummeted 3.17 percent, Siam Concrete declined 1.42 percent, Thai Oil perked 0.43 percent, True Corporation slumped 0.81 percent and TTB Bank, Asset World, Banpu, Bangkok Expressway, Charoen Pokphand Foods, Kasikornbank and Siam Commercial Bank were unchanged.