SET index expected to slip this week

BANGKOK, 9 May 2011 (NNT) – Kasikorn Research Center (KResearch) has projected that the Stock Exchange of Thailand (SET) index this week will plummet following external factors while foreign stock markets and domestic political situation must be monitored closely.

KResearch reported that the SET index declined last week because of foreign sales and falling oil prices as the index closed at 1,050.85 points, down 3.91% from the week earlier. Meanwhile, the MAI index closed at 285.27 points, down 2.91% from the week earlier.

As for the stock market forecast this week from 9 to 13 May 2011, Kasikorn Securities (KSecurities) and KResearch viewed that the index would fall following external factors, especially price adjustments of oil and consumer goods.

Factors that must be monitored are the movement of foreign stock markets, capital transfers, the domestic political situation, notably the upcoming house dissolution and the US economic figure reports.

KSecurities projected that the support line and resistance line of the SET index this week will be around 1,044-1,000 points and 1,059-1,064 points respectively.