SET Index likely to fluctuate next week

BANGKOK, 7 March 2010 (NNT) – The Stock Exchange of Thailand (SET) composite index from 8-12 November 2009 is expected to fluctuate, according to the Kasikorn Research Center (KResearch).

KResearch reported that the fluctuation would be mainly caused by concerns of investors over the ongoing domestic political uncertainty. However, the national stock market might not be affected if political turmoil does not occur. In addition, the Monetary Policy Committee’s meeting conclusions on 10 March 2010 must be closely monitored as well.

Meanwhile, external factors include the direction of the US dollar, oil price and commodities, regional stock market trends as well as important economic figures of the US, China and Europe.

The SET index’s support line is expected to stand between the range of 721-723 points and the resistance line at 738-750 points today. KReseach also forecasts the Thai baht currency for next week to be in the range of 32.50-32.80 THB to the USD.