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Thai Bourse Expected To Find Traction On Wednesday

The Thai stock market has finished lower in two straight sessions, sliding more than a dozen points or 0.7 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,670-point plateau although it's tipped to open in the green on Wednesday.

The global forecast for the Asian markets is flat to higher ahead of election results in the United States. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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

For the day, the index eased 1.25 points or 0.07 percent to finish at 1,669.33 after trading between 1,669.22 and 1,684.44. Volume was 10.605 billion shares worth 39.219 billion baht. There were 810 decliners and 492 gainers, with 506 stocks finishing unchanged.

Among the actives, Advanced Info skidded 1.63 percent, while Thailand Airport climbed 1.16 percent, Bangkok Bank collected 0.93 percent, Bangkok Medical shed 0.80 percent, Beauty Community plunged 3.74 percent, Bangkok Expressway jumped 1.74 percent, Charoen Pokphand Foods dropped 0.99 percent, Kasikornbank perked 1.49 percent, Krung Thai Bank added 0.50 percent, PTT advanced 1.02 percent, PTT Global Chemical gained 0.32 percent, Siam Commercial Bank fell 1.02 percent, Siam Concrete spiked 1.42 percent and Banpu and PTT Exploration and Production were unchanged.

The lead from Wall Street is positive as stocks fluctuated on Tuesday but maintained an upward bias and finished in the green.

The Dow added 173.31 points or 0.68 percent to 25,635.01, while the NASDAQ gained 47.11 points or 0.64 percent to 7,375.96 and the S&P was up 17.14 points or 0.63 percent to 2,755.45.

The strength on Wall Street came as stocks continued to recover from the sell-off seen in October, which was one of the worst months for the markets in years.

However, traders seemed reluctant to make more significant moves amid uncertainty about the outcome of the midterm elections - which will decide control of the House and the Senate and have a major impact on President Donald Trump's ability to enact his pro-business agenda.

Traders also looked ahead to Thursday's Federal Reserve's monetary policy announcement. The Fed is widely expected to leave interest rates unchanged, but traders will keep a close eye on the accompanying statement for clues about an expected rate hike in December.

Crude oil prices fell again on Tuesday, extending their slide to a seventh successive session on prospects of a drop in demand amid uncertainty about global economic growth. Crude oil futures for December ended down $0.89 or 1.4 percent at $62.21 a barrel.

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