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Thai Stock Market May Extend Losing Streak

The Thai stock market has finished lower in four straight sessions, sliding more than 25 points or 1.6 percent along the way. The Stock Exchange of Thailand now rests just above the 1,590-point plateau and its looking at another soft start again on Monday.

The global forecast for the Asian markets is negative thanks to unrest in Hong Kong and how it may delay any resolution in the trade spat between the United States and China. The European and U.S. markets were down on Friday and the Asian bourses are tipped to open in similar fashion.

The SET finished modestly lower on Friday following losses from the financial shares and the energy producers.

For the day, the index slid 7.09 points or 0.44 percent to finish at 1,590.59 after trading between 1,580.08 and 1,594.54. Volume was 19.935 billion shares worth 51.843 billion baht. There were 1,020 decliners and 560 gainers, with 532 stocks finishing unchanged.

Among the actives, Advanced Info plunged 3.20 percent, while Asset World jumped 1.69 percent, Banpu shed 0.85 percent, Bangkok Bank lost 0.84 percent, Bangkok Expressway spiked 1.89 percent, Kasikornbank sank 1.59 percent, PTT fell 0.57 percent, PTT Global Chemical tumbled 1.83 percent, Siam Commercial Bank dipped 0.41 percent, Siam Concrete plummeted 2.06 percent, TMB Bank cratered 2.44 percent and BTS Group, Charoen Pokphand Foods, Krung Thai Bank, PTT Exploration and Production, Thailand Airport and Bangkok Dusit Medical all were unchanged.

The lead from Wall Street is soft as stocks gave ground in Friday's shortened session retreating from Wednesday's record closing highs.

The Dow shed 112.59 points or 0.40 percent to 28,051.41, while the NASDAQ lost 39.70 points or 0.46 percent to 8,665.47 and the S&P 500 fell 12.65 points or 0.40 percent to 3,140.98. For the week, the NASDAQ surged 1.7 percent, the S&P jumped 1 percent and the Dow rose 0.6 percent.

The weakness on Wall Street came as traders cashed in on recent gains amid concerns rising tensions between the U.S. and China over the situation in Hong Kong could impact ongoing trade talks.

After President Donald Trump signed two bills in support of pro-democracy protesters in Hong Kong, a spokesman for China's Foreign Ministry threatened strong countermeasures.

After moving higher in the two previous sessions, crude oil prices showed a substantial pullback on Friday on rising tensions between the U.S. and China. Crude for January delivery plunged $2.94 or 5.1 percent to $55.17 a barrel, ending at its lowest closing level in a month.

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