Plus   Neg

Thai Bourse May Surrender Support At 1,800 Points

The Thai stock market has finished higher in back-to-back trading days, collecting almost 35 points or 2 percent along the way. The Stock Exchange of Thailand now rests just shy of the 1,810-point plateau although it's expected to run out of steam on Wednesday.

The global forecast for the Asian markets is broadly negative thanks to renewed geopolitical concerns and a drop in crude oil prices. The European and U.S. markets were firmly lower and the Asian bourses figure to follow suit.

The SET finished modestly higher on Tuesday as gains from the energy producers were offset by weakness from the financial sector.

For the day, the index climbed 9.58 points or 0.53 percent to finish at the daily high of 1,809.90 after trading as low as 1,793.78.

Among the actives, Advanced Info shed 0.48 percent, while Banpu jumped 1.38 percent, Bangkok Bank lost 0.95 percent, Bangkok Medical added 0.44 percent, Kasikornbank tumbled 1.72 percent, Krung Thai Bank lost 0.50 percent, PTT spiked 1.43 percent, PTT Global Chemical gained 0.52 percent and Siam Commercial Bank, Siam Concrete, PTT Exploration and Production, Charoen Pokphand Foods, Thailand Airport and Bangkok Expressway all were unchanged.

The lead from Wall Street is soft as stocks failed to hold a higher open Tuesday before sliding firmly into negative territory.

The Dow slid 171.58 points or 0.68 percent to 25,007.03, while the NASDAQ tumbled 77.31 points or 1.02 percent to 7,511.01 and the S&P fell 17.71 points or 0.64 percent to 2,765.31.

The weakness came amid renewed geopolitical concerns after President Donald Trump fired Secretary of State Rex Tillerson and replaced him with CIA Director Mike Pompeo.

Traders shrugged off a Labor Department report showing a modest increase in consumer prices and core CPI in February.

Crude oil futures were lower Tuesday amid expectations that U.S. oil inventories rose for a third week in a row. April WTI oil was down 65 cents or 1.1 percent to settle at $60.71/bbl.

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