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Thai Stock Market May Add To Its Winnings

The Thai stock market has tracked higher in consecutive trading days, collecting more than a dozen points or 0.7 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,640-point plateau and it's looking at another green light again on Thursday.

The global forecast for the Asian markets suggests mild upside on sound economic data and a spike in crude oil prices. The European and U.S. markets were up and the Asian bourses are tipped to open in similar fashion.

The SET finished modestly higher on Wednesday following gains from the financial shares and the energy producers.

For the day, the index advanced 12.08 points or 0.74 percent to finish at 1,639.67 after trading between 1,623.75 and 1,639.69. Volume was 12.899 billion shares worth 45.442 billion baht. There were 738 gainers and 575 decliners, with 490 stocks finishing unchanged.

Among the actives, Advanced Info added 0.84 percent, while Thailand Airport soared 2.61 percent, Banpu gained 0.63 percent, Bangkok Bank collected 0.96 percent, Bangkok Medical rose 0.42 percent, Bangkok Expressway advanced 1.00 percent, Charoen Pokphand Foods surged 4.00 percent, Kasikornbank shed 0.26 percent, PTT perked 1.06 percent, PTT Exploration and Production was up 0.41 percent, PTT Global Chemical gathered 0.37 percent, Siam Cement accelerated 0.84 percent, TMB Bank jumped 1.87 percent and Krung Thai Bank and Siam Commercial Bank were unchanged.

The lead from Wall Street is positive as stocks opened higher on Wednesday. The major averages gave ground as the day progressed but still finished firmly in the green.

The Dow added 148.23 points or 0.58 percent to 25,702.89, while the NASDAQ gained 52.37 points or 0.69 percent to 7,643.41 and the S&P 500 rose 19.40 points or 0.69 percent to 2,810.92.

The strength on Wall Street reflected a positive reaction to a Commerce Department report showing an unexpected increase in durable goods orders in January. Also, the Labor Department noted a modest increase in producer prices in February.

Oil prices rallied sharply on Wednesday after data showed U.S. crude inventories dropped last week. West Texas Intermediate Crude oil futures for April ended up $1.39 or 2.4 percent at $58.26 a barrel, the highest settlement in four months.

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