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Thai Bourse May Remain Stuck In Neutral

The Thai stock market on Monday snapped the two-day winning streak in which it had gained almost 7 points or 0.4 percent. The Stock Exchange of Thailand now rests just above the 1,570-point plateau, and the market is looking at another narrow trading range again on Tuesday.

The global forecast for the Asian markets is flat to lower amid a lack of catalysts, nudged lower by weakness in crude oil prices. The European and U.S. markets were mixed but little changed, and the Asian markets figure to follow suit.

The SET finished slightly lower on Monday following losses from the financial shares and the energy producers.

For the day, the index dipped 3.01 points or 0.19 percent to finish at 1,570.50 after trading between 1,568.48 and 1,576.12. Volume was 6.538 billion shares worth 30.964 billion baht. There were 711 decliners and 351 gainers, with 450 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.28 percent, while Bangkok Bank lost 0.82 percent, Bangkok Expressway fell 0.67 percent, Krung Thai Bank dipped 0.48 percent, PTT slid 0.98 percent, PTT Exploration and Production eased 0.27 percent, PTT Global Chemical skidded 1.05 percent and Banpu and Kasikornbank were unchanged

The lead from Wall Street is slightly soft as stocks showed a lack of direction on Monday, bouncing back and forth across the unchanged line before ending mixed.

The NASDAQ added 11.64 points or 0.2 percent to 5,840.37, while the Dow shed 45.74 points or 0.2 percent to 20,550.98 and the S&P 500 fell 2.39 points or 0.1 percent to 2,341.59.

The initial drop by stocks followed the decision by Republican leaders to withdraw their bill to repeal and replace the Affordable Care Act amid a lack of support.

The inability to advance the bill has cast doubt on President Trump's ability to deliver on promises of increased infrastructure spending, tax cuts and deregulation.

Crude oil futures fell Monday, extending recent losses on concerns about the lingering global supply glut. WTI crude fell 24 cents or 0.5 percent to $47.73 a barrel.

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