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Thai Stock Market Inherits Another Green Light

The Thai stock market has moved higher in four straight sessions, collecting almost 50 points or 3.2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,540-point plateau and it may add to its winnings again on Wednesday.

The global forecast for the Asian markets is mixed to higher on the back of strong crude oil gains. The European markets were down and the U.S. bourses were up and the Asian markets are tipped to follow the latter lead.

The SET finished slightly higher on Tuesday following gains from the energy producers and a mixed picture from the financial sector.

For the day, the index rose 3.36 points or 0.22 percent to finish at 1,539.85 after trading between 1,528.50 and 1,542.65. Volume was 24.358 billion shares worth 90.163 billion baht. There were 789 decliners and 686 gainers, with 405 stocks finishing unchanged.

Among the actives, Advanced Info dropped 0.82 percent, while Thailand Airport tanked 2.76 percent, Bangkok Asset Management advanced 0.94 percent, Bangkok Dusit Medical retreated 0.94 percent, Bangkok Expressway skidded 1.20 percent, Charoen Pokphand Foods jumped 1.79 percent, Gulf climbed 1.37 percent, Kasikornbank shed 0.42 percent, Krung Thai Bank lost 0.79 percent, PTT perked 1.74 percent, PTT Exploration and Production surged 3.38 percent, PTT Global Chemical soared 3.21 percent, Siam Commercial Bank collected 0.83 percent, Siam Concrete fell 0.52 percent, TMB Bank sank 0.85 percent and BTS Group, Asset World and Bangkok Bank were unchanged.

The lead from Wall Street is cautiously optimistic as stocks bounced back and forth across the unchanged line on Tuesday, finally settling with modest gains.

The Dow added 60.00 points or 0.19 percent to finish at 31,068.69, while the NASDAQ gained 36.00 points or 0.28 percent to end at 13.072.43 and the S&P 500 rose 1.58 points or 0.04 percent to close at 3,801.19.

Political concerns, rising coronavirus cases and uncertainty about near term trend for the market after an historic climb weighed on stocks.

Amid FBI warning about possible armed protests across the United States in the days leading up to President-elect Joe Biden's inauguration, a state of emergency has been declared in the District of Columbia.

Optimism about further economic stimulus in the U.S. and the rollout of coronavirus vaccines helped to nudge the markets higher. Investors are also looking ahead to quarterly earnings results.

Crude oil prices moved higher Tuesday, boosted by a weak dollar and Saudi Arabia's decision to cut production in the next two months. West Texas Intermediate Crude oil futures for February ended up $0.96 or 1.8 percent at $53.21 a barrel.

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