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Thai Stock Market May Extend Losing Streak

The Thai stock market has moved lower in three straight sessions, sliding almost 30 points or 1.9 percent along the way. The Stock Exchange of Thailand now rests just above the 1,635-point plateau and it's looking at another oft tart again on Monday.

The global forecast for the Asian markets is soft on ongoing trade concerns between the United States and China. The European markets were mixed and the U.S. bourses were down and the Asian markets figure to follow the latter lead.

The SET finished slightly lower on Friday following mixed performances from the financial shares and support from the energy producers.

For the day, the index shed 4.46 points or 0.27 percent to finish at 1,636.20 after trading between 1,627.90 and 1,644.29. Volume was 18.640 billion shares worth 68.432 billion baht. There were 1,080 decliners and 440 gainers, with 472 stocks finishing unchanged.

Among the actives, Advanced Info dropped 0.89 percent, while Thailand Airport shed 0.34 percent, Banpu advanced 0.86 percent, Bangkok Bank collected 0.28 percent, Bangkok Medical shed 0.83 percent, Bangkok Expressway retreated 0.91 percent, BTS Group advanced 0.75 percent, Krung Thai Bank climbed 1.15 percent, PTT perked 0.55 percent, PTT Global Chemical jumped 1.42 percent, Siam Commercial Bank lost 0.84 percent, Siam Concrete fell 0.48 percent, TMB Bank surged 3.53 percent and PTT Exploration and Production, Kasikornbank and Charoen Pokphand Foods were unchanged.

The lead from Wall Street is negative as stocks shook off a positive open Friday, fading in the afternoon to finish firmly in the red.

The Dow shed 159.72 points or 0.59 percent to 26,935.07, the NASDAQ lost 65.21 points or 0.80 percent to 8,117.67 and the S&P 500 fell 14.72 points or 0.49 percent to 2,992.07. For the week, the Dow shed 1 percent, the NASDAQ lost 0.7 percent and the S&P 500 fell 0.5 percent.

Stocks skidded on news Chinese trade negotiators canceled a scheduled visit to U.S. farm states this week. The news offset recent optimism about a potential end to the U.S.-China trade war, with the deputy-level talks expected to help pave the way for more productive talks next month.

Uncertainty about the outlook for interest also weighed on stocks, with Boston Federal Reserve President Eric Rosengren arguing that it is not necessary and potentially risky for the central bank to continue lowering rates.

Crude oil futures settled slightly lower on Friday but still managed a gain of nearly 6 percent for the week. West Texas Intermediate crude oil futures for October ended down $0.04 or 0.07 percent at $58.09 a barrel on the expiration day.

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