SET Index likely to fluctuate this week

BANGKOK, 16 November 2009 (NNT) – The Stock Exchange of Thailand (SET) composite index from 16-20 November 2009 is expected to fluctuate, according to the Kasikorn Research Center (KResearch).

KResearch reported that the fluctuation would be caused by both internal and external factors. The internal factors include the ongoing dispute between Thailand and Cambodia, a court’s hearing on the suspension of 76 projects in the Map Ta Phut industrial estate, and international trade figures reported by the Ministry of Commerce this week.

The Supreme Administrative Court will issue a verdict for the Map Ta Phut case on 18 November. The 76 projects in Thailand’s largest industrial estate are facing a court injunction to put them on hold on 29 September.

The external factors include oil price, regional stock market trends, as well as important economic figures of the US.

The SET index’s support line is expected to stand between the range of 645-675 points and resistance line 717-730 points today. KReseach also forecast the Thai baht currency this week would be in the range of 33.20-33.50 THB to USD.