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Little Movement Expected For Thai Stock Market

The Thai stock market has finished lower in back-to-back sessions, sliding more than a dozen points or 0.9 percent along the way. The Stock Exchange of Thailand now rests just beneath the 1,325-point plateau and it's likely to see a narrow trading range again on Monday.

The global forecast for the Asian markets remains mired in uncertainty, balancing better than expected economic data, tumbling crude oil prices and continued uncertainty over stimulus. The European and U.S. markets were slightly higher and the Asian markets now look to open roughly flat.

The SET finished modestly lower on Friday as the financial shares and energy producers ended mostly in the red.

For the day, the index shed 8.82 points or 0.66 percent to finish at 1,324.40 after trading between 1,321.16 and 1,333.21. Volume was 17.318 billion shares worth 44.367 billion baht. There were 968 decliners and 421 gainers, with 372 stocks finishing unchanged.

Among the actives, Advanced Info fell 0.26 percent, while Thailand Airport tumbled 1.51 percent, Asset World dropped 1.01 percent, Bangkok Dusit Medical retreated 1.42 percent, Bangkok Expressway skidded 1.13 percent, BTS Group declined 1.94 percent, Charoen Pokphand Foods surrendered 1.52 percent, Kasikornbank shed 0.30 percent, Krung Thai Bank collected 0.51 percent, PTT sank 1.29 percent, PTT Exploration and Production perked 1.08 percent, PTT Global Chemical plunged 3.41 percent, Siam Concrete lost 0.53 percent, TMB Bank was down 1.05 percent and Bangkok Bank and Siam Commercial Bank were unchanged.

The lead from Wall Street offers little clarity as stocks opened lower Friday and remained in the red throughout much of the day until a late rally pushed the Dow and S&P barely into the green - although the NASDAQ stayed negative on profit taking after big gains last week.

The Dow added 46.50 points or 0.17 percent to finish at 27,433.48, while the NASDAQ dropped 97.09 points or 0.87 percent to end at 11,010.98 and the S&P 500 rose 2.12 points or 0.06 percent to close at 3,351.28.

The uncertainty on Wall Street was the result of growing uncertainty about a new coronavirus relief plan following the failure of the lawmakers to arrive at an agreement amid reports of spiked in various cases around the world.

Tensions between the U.S. and China have escalated following the Trump administration unveiling a ban on U.S. transactions with ByteDance's TikTok and Tencent-owned WeChat.

In economic data, the Labor Department reported a larger than expected increase in employment last month as the jobless rate fell to 10.2 percent.

Crude oil prices drifted lower Friday on concerns about outlook for energy demand after reports showed spikes in coronavirus cases in several parts across the world. West Texas Intermediate crude oil futures for September ended down $0.67 or 1.6 percent at $41.28 a barrel. For the week, WTI crude oil futures gained 2.1 percent.

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