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Winning Streak May Continue For Thai Stock Market

The Thai stock market has climbed higher in eight straight sessions, collecting almost 55 points or 3.5 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,675-point plateau and it's called higher again on Friday.

The global forecast for the Asian markets is upbeat on rising oil prices and an improved outlook for interest rates. The European and U.S. markets were up and the Asian bourses are tipped to follow suit.

The SET finished slightly higher again on Thursday following mixed performances from the financial shares and the energy producers.

For the day, the index added 3.03 points or 0.18 percent to finish at 1,674.14 after trading between 1,663.39 and 1,675.84. Volume was 16.035 billion shares worth 55.324 billion baht. There were 754 decliners and 602 gainers, with 504 stocks finishing unchanged.

Among the actives, Advanced Info added 0.76 percent, while Banpu plunged 2.68 percent, Bangkok Bank fell 0.25 percent, Bangkok Expressway sank 0.88 percent, BTS Group added 0.86 percent, Charoen Pokphand Foods jumped 1.77 percent, Krung Thai Bank collected 1.04 percent, PTT Exploration and Production lost 0.78 percent, PTT Global Chemical climbed 1.20 percent, Siam Commercial Bank rose 0.37 percent, Siam Concrete was up 0.43 percent, TMB Bank was down 0.50 percent and PTT, Kasikornbank, Thailand Airport and Bangkok medical were unchanged.

The lead from Wall Street is positive as stocks bounced higher Thursday following two days of weakness, although the buying interest was somewhat subdued.

The Dow added 101.94 points or 0.39 percent to 26,106.77, while the NASDAQ gained 44.41 points or 0.57 percent to 7,837.13 and the S&P 500 rose 11.80 points or 0.41 percent to 2,891.64.

Continued optimism tame inflation will lead the Federal Reserve to cut interest rates contributed to the strength on Wall Street after a Labor Department report showed bigger than expected decreases in U.S. import and export prices.

Crude oil prices rebounded Thursday from five-month lows, as reports of an attack on oil tankers in the Gulf of Oman suggested a likely fall in crude supply in the international market. West Texas Intermediate Crude oil futures for July ended up $1.14 or 2.2 percent at $52.28 a barrel.

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