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Thai Stock Market Tipped To Open In The Red

The Thai stock market on Thursday snapped the modest two-day winning streak in which it had picked up more than a dozen points or 0.7 percent. The Stock Exchange of Thailand now rests just above the 1,635-point plateau and it's looking at another soft start again on Friday.

The global forecast for the Asian markets is flat with a touch of weakness on global trade concerns. The European markets were slightly higher and the U.S. bourses were mixed and little changed and the Asian markets are expected to follow the latter lead.

The SET finished slightly lower on Thursday following a mixed picture from the energy producers, while the financials also were slightly soft.

For the day, the index slid 3.79 points or 0.23 percent to finish at 1,635.88 after trading between 1,634.70 and 1,643.56. Volume was 12.728 billion shares worth 38.219 billion baht. There were 766 decliners and 495 gainers, with 533 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.28 percent, while Thailand Airport added 0.36 percent, Banpu gained 0.63 percent, Bangkok Bank sank 0.48 percent, Bangkok Medical lost 0.84 percent, BTS Group advanced 0.93 percent, PTT rose 0.52 percent, PTT Exploration and Production dropped 0.82 percent, PTT Global Chemical fell 0.37 percent, Siam Concrete gathered 0.42 percent, TMB Bank tumbled 0.92 percent and Siam Commercial Bank, Kasikornbank, Krung Thai Bank, Bangkok Expressway and Charoen Pokphand Foods all were unchanged.

The lead from Wall Street offers little clarity as stocks showed a lack or direction on Thursday, bouncing back and forth across the unchanged line before ending the session mixed.

The Dow added 7.05 points or 0.03 percent to 25,709, while the NASDAQ fell 12.50 points or 0.16 percent to 7,630.91 and the S&P 500 lost 2.44 points or 0.09 percent to 2,808.48.

The choppy trading on Wall Street followed uncertainty about Brexit, with members of parliament voting in favor of delaying Brexit after they rejected the idea of leaving the European Union without a deal.

Renewed concerns about a potential trade deal between the U.S. and China weighed on the markets after reports said a meeting between President Donald Trump and Chinese President Xi Jinping has been pushed back.

On the U.S. economic front, the Commerce Department reported a substantial pullback in new home sales in January. A separate report from the Labor Department showed U.S. import and export prices both rose more than anticipated in February.

Crude oil prices edged higher Thursday, extending gains to a fourth successive session, on data that showed a drop in U.S. crude inventories last week. West Texas Intermediate Crude oil futures for April ended up $0.35 or 0.6 percent at $58.61 a barrel, a fresh high since mid-November.

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