Set increase this week

Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) index is likely to increase this week (from 4 to 8 July 2011) while the 3 July general election result will play role in the stock trade.

KResearch reported that the SET index last week closed at 1,041.48 points, up 1.81% from the week earlier following a declining concern over the Greek debt crisis. Meanwhile, the MAI index closed at 304.27 points, up 1.19% from the week before.

The SET index fell last Monday upon concerns over Greek debt crisis and oil price decline; however, it went up for the rest of the week as investors eased their tension about the general election. The SET index also rose following foreign markets after the Greek debt crisis eased off.

KResearch and Kasikorn Securities predicted that the SET index this week would go up in line with counterpart markets in the region. The support line will be at 1,036-1,022 points and the resistance line at 1,050-1,082 points respectively.

Domestic factors to be monitored are the general election’s result and consumer price index of the University of the Thai Chamber of Commerce while external factors in focus are still with the global oil prices and US economic figure reports.