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Thai Stocks Tipped To Open In The Green

The Thai stock market has climbed higher in back-to-back trading days, gathering more than 55 points or 5.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,080-point plateau and it's called higher again on Thursday.

The global forecast for the Asian markets is positive on continued optimism for stimulus in response to the coronavirus pandemic. The European markets were up and the U.S. bourses were mixed and the Asian markets figure to split the difference.

The SET finished sharply higher on Wednesday following gains across the board - especially from the financial shares and energy producers.

For the day, the index climbed 46.19 points or 4.47 percent to finish at 1,080.03 after trading between 1,050.72 and 1,099.94. Volume was 10.386 billion shares worth 74.952 billion baht. There were 778 gainers and 437 decliners, with 311 stocks finishing unchanged.

Among the actives, Advanced Info climbed 4.12 percent, while Thailand Airport jumped 4.69 percent, Asset World accelerated 4.76 percent, Banpu advanced 2.64 percent, Bangkok Bank added 1.10 percent, Bangkok Dusit Medical gathered 4.49 percent, Bangkok Expressway soared 8.21 percent, BTS Group gained 4.24 percent, Charoen Pokphand Foods increased 4.44 percent, Kasikornbank collected 3.16 percent, Krung Thai Bank rose 1.96 percent, PTT perked 7.76 percent, PTT Exploration and Production skyrocketed 11.81 percent, PTT Global Chemical surged 8.82 percent, Siam Commercial Bank climbed 2.97 percent, Siam Concrete jumped 8.30 percent and TMB Bank spiked 5.71 percent.

The lead from Wall Street is cautiously optimistic as stocks moved sharply higher on Wednesday before giving ground late in the session to end mixed.

The Dow jumped 495.64 points or 2.39 percent to finish at 21,200.55, while the NASDAQ fell 33.56 points or 0.45 percent to 7,384.29 and the S&P 500 climbed 28.23 points or 1.15 percent to 2,475.56.

Stocks moved sharply higher earlier in the session in reaction to news that Senate leaders and the White House have reached an agreement on the $2 trillion stimulus bill - but a potential snag over jobless benefits could delay its passage, sending stocks lower in the afternoon.

The Senate could pass the bill as soon as today, although the stimulus package would still need to be approved by the Democrat-controlled House before heading to President Donald Trump's desk.

Crude oil prices moved higher on Wednesday after a decline in weekly gasoline inventories. Optimism about the passage of the massive $2 trillion stimulus bill also contributed to oil's rise in the session. West Texas Intermediate crude oil futures for May ended up $0.48 or 2 percent at $24.49 a barrel.

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