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Higher Open Anticipated For Thai Stock Market

The Thai stock market has moved higher in two of three trading days since the end of the two-day slide in which it had fallen more than 25 points or 1.7 percent. The Stock Exchange of Thailand now rests just beneath the 1,580-point plateau and it's looking at another green light again on Friday.

The global forecast for the Asian markets is upbeat on easing geopolitical concerns in the Middle East. The European and U.S. markets finished higher and the Asian bourses are tipped to open in similar fashion.

The SET finished sharply higher on Thursday as the financial shares and energy producers ended mostly in the green.

For the day, the index climbed 20.37 points or 1.31 percent to finish at 1,579.64 after trading between 1,568.16 and 1,581.50. Volume was 17.450 billion shares worth 66.545 billion baht. There were 1,137 gainers and 564 decliners, with 359 stocks finishing unchanged.

Among the actives, Advanced Info shed 0.91 percent, while Thailand Airport climbed 1.71 percent, Asset World and Banpu both soared 2.70 percent, Bangkok Bank advanced 0.98 percent, Bangkok Dusit Medical gathered 0.99 percent, Bangkok Expressway dropped 0.89 percent, BTS Group jumped 1.49 percent, Charoen Pokphand Foods surged 5.36 percent, Kasikornbank skidded 1.07 percent, PTT perked 0.53 percent, PTT Exploration and Production lost 0.75 percent, PTT Global Chemical soared 3.03 percent, Siam Concrete gained 1.64 percent, TMB Bank accelerated 4.55 percent and Krung Thai Bank and Siam Commercial Bank were unchanged.

The lead from Wall Street is positive as stocks saw continued upside on Thursday, propelling the major averages to fresh record closing highs.

The Dow added 212.08 points or 0.74 percent to 28,957.17, while the NASDAQ gained 74.18 points or 0.81 percent to 9,203.43 and the S&P 500 rose 21.65 points or 0.67 percent to 3,274.70.

Easing concerns about the conflict between the U.S. and Iran contributed to the continued strength on Wall Street amid signs of de-escalation.

Nonetheless, overall trading activity was subdued ahead of the release of the Labor Department's monthly jobs report later today.

Crude oil futures settled near four-week lows on Thursday as higher U.S. crude inventories and easing worries about U.S.-Iran standoff pushed prices down for a second straight session. West Texas Intermediate Crude oil futures for February ended down $0.05 or 0.03 percent at $59.56 a barrel, off the session's low of $58.66 a barrel.

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