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Thai Shares May See Continued Strength

The Thai stock market has moved higher in three straight sessions, collecting more than 30 points or 2 percent along the way. The Stock Exchange of Thailand now rests just above the 1,595-point plateau and it's looking at another green light for Wednesday.

The global forecast for the Asian markets is positive on trade optimism and surging crude oil prices. The European and U.S. markets were up and the Asian bourses figure to open in similar fashion.

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

For the day, the index added 1.28 points or 0.08 percent to finish at 1,595.00 after trading between 1,587.47 and 1,597.35. Volume was 10.794 billion shares worth 35.671 billion baht. There were 566 decliners and 517 gainers, with 554 stocks finishing unchanged.

Among the actives, Advanced Info added 0.28 percent, while Thailand Airport gained 0.78 percent, Banpu shed 0.61 percent, Bangkok Bank lost 0.48 percent, Bangkok Medical skidded 2.18 percent, Charoen Pokphand Foods advanced 0.99 percent, Kasikornbank dropped 0.80 percent, Krung Thai Bank climbed 1.01 percent, PTT Exploration and Production perked 0.41 percent, PTT Global Chemical fell 0.35 percent, Siam Commercial Bank dipped 0.37 percent, Siam Concrete retreated 1.38 percent and Bangkok Expressway and PTT were unchanged.

The lead from Wall Street is upbeat as stocks opened higher on Tuesday; they gave back some of those gains as the day progressed but still ended firmly in the green.

The Dow added 256.10 points or 1.09 percent to 23,787.45, while the NASDAQ gained 73.53 points or 1.08 percent to 6,897.00 and the S&P rose 24.72 points or 0.97 percent to 2,574.41.

Optimism about trade talks between the U.S. and China contributed to the early rally on Wall Street amid a second day of meetings between U.S. and Chinese officials.

A quiet day on the U.S. economic front also kept some traders on the sidelines amid the ongoing government shutdown.

Crude oil prices moved up sharply on Tuesday, extending gains to a seventh successive session on optimism about U.S.-China trade discussions and reports of output cuts by oil producers. Crude oil futures for February were up $1.26 or 2.6 percent at $49.78 a barrel.

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