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Thai Bourse May Add To Tuesday's Winnings

The Thai stock market on Tuesday snapped the two-day slide in which it had skidded 6 points or 0.4 percent. The Stock Exchange of Thailand remains just beneath the 1,630-point plateau and it may tick higher again on Wednesday.

The global forecast for the Asian markets is cautiously optimistic on an upbeat outlook for interest rates and mild upside in crude oil prices. The European and U.S. markets were mixed and the Asian markets are tipped to inch higher.

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

For the day, the index added 0.16 points or 0.01 percent to finish at 1,627.59 after trading between 1,624.55 and 1,633.97. Volume was 12.350 billion shares worth 37.172 billion baht. There were 763 decliners and 529 gainers, with 487 stocks finishing unchanged.

Among the actives, Advanced Info added 0.28 percent, while Thailand Airport skidded 1.11 percent, Banpu tumbled 1.86 percent, Bangkok Bank collected 0.48 percent, Bangkok Medical advanced 0.85 percent, Bangkok Expressway gained 0.50 percent, Charoen Pokphand Foods plunged 1.96 percent, Kasikornbank rose 0.26 percent, Krung Thai Bank sank 0.53 percent, PTT Exploration and Production was up 0.41 percent, PTT Global Chemical fell 0.37 percent, Siam Commercial Bank shed 0.38 percent, Siam Concrete gathered 0.42 percent, TMB Bank plummeted 4.46 percent and PTT was unchanged.

The lead from Wall Street is inconsistent as the major averages moved in opposite directions on Tuesday.

The Dow shed 96.22 points or 0.38 percent to finish at 25,554.66, while the NASDAQ rose 32.97 points or 0.44 percent to 7,591.03 and the S&P added 8.22 points or 0.30 percent to 2,791.52.

The loss posted by the Dow was largely due to a continued decline by Boeing (BA) after the European Union, China, the U.K. and other countries grounded the company's 737 MAX jets following the second crash in less than six months.

Meanwhile, the broader markets benefited from the release of tame inflation data, which suggests the Federal Reserve will continue to refrain from raising interest rates in the near future.

Crude oil futures ended slightly higher on Tuesday, with traders looking ahead to the weekly inventory data. West Texas Intermediate Crude oil futures for April added $0.08 or 0.1 percent at $56.87 a barrel.

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