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Thai Bourse Inherits Positive Lead For Monday

The Thai stock market has finished higher in two straight sessions, collecting almost 45 points or 3 percent along the way. The Stock Exchange of Thailand now sits just above the 1,535-point plateau and it's looking at a green light again for Monday's trade.

The global forecast for the Asian markets suggests a higher open on hopes for additional stimulus and surging oil prices. The European and U.S. markets were up on Friday and the Asian bourses are tipped to at least open in similar fashion, although profit taking may set in later.

The SET finished sharply higher on Friday following gains from the cement companies and mixed performances from the financials and energy producers.

For the day, the index climbed 22.66 points or 1.50 percent to finish at 1,536.44 after trading between 1,521.17 and 1,538.61. Volume was 30.490 billion shares worth 125.081 billion baht. There were 902 decliners and 636 gainers, with 388 stocks finishing unchanged.

Among the actives, Advanced Info rallied 2.22 percent, while Thailand Airport added 0.77 percent, Asset World advanced 0.84 percent, Bangkok Asset Management tumbled 2.73 percent, Bangkok Dusit Medical spiked 2.36 percent, Bangkok Expressway gained 0.59 percent, BTS Group accelerated 2.02 percent, Charoen Pokphand Foods dropped 0.88 percent, Gulf gathered 2.07 percent, Kasikornbank sank 0.82 percent, Krung Thai Bank soared 4.92 percent, PTT perked 0.59 percent, PTT Exploration and Production rose 0.48 percent, PTT Global Chemical lost 0.40 percent, Siam Commercial Bank dipped 0.27 percent, Siam Concrete climbed 1.05 percent, TMB Bank retreated 1.63 percent and Bangkok Bank was unchanged.

The lead from Wall Street is upbeat as stocks fluctuated on Friday but managed to finish firmly in the green, sending the major averages to fresh record closing highs.

The Dow rose 56.84 points or 0.18 percent to finish at 31,097.97, while the NASDAQ jumped 134.50 points or 1.03 percent to end at 13,201.98 and the S&P 500 gained 20.89 percent or 0.55 percent to close at 3,824.68. For the week, the Dow rose 1.8 percent, the NASDAQ gained 2.4 percent and the S&P added 1.6 percent.

The markets benefited from optimism that a Democrat-controlled government will lead to more fiscal stimulus and a better handling of the coronavirus vaccine rollout.

Traders were also reacting to a closely watched Labor Department report showing an unexpected decrease in U.S. employment in December - which may provide more ammunition for Democrats to pursue additional stimulus.

Crude oil prices rose sharply on Friday, as recent data showing a drop in U.S. crude stockpiles, and Saudi Arabia's decision to cut output continued to support the commodity. West Texas Intermediate Crude oil futures for February ended up by $1.41 or 2.8 percent at $52.24 a barrel.

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