SET likes to fluctuate this week

BANGKOK, 20 June 2011 – Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) index is likely to fluctuate this week (from 20 to 24 June 2011) mainly due to external factors.

KResearch reported that the SET index last week closed at 1,018.96 points, down 0.14% from the week earlier amid foreign selling forces and concerns over the Greek debt crisis. Meanwhile, the MAI index closed at 295.40 points, down 1.37% from the week before.

The SET index fell on Monday upon concerns over domestic politics before rebounding on Tuesday; however, it had been declining from Wednesday through Friday after the global oil prices fell dramatically while investors were worried about the US economy and the Greek debt crisis.

KResearch and Kasikorn Securities predicted that the SET index this week would fluctuate mainly due to external factors. The support line will be at 1,003-984 points and the resistance line at 1,024-1,034 points respectively.

Factors that should be monitored for this week include development of the Greek debt crisis, global oil prices and reports of US economic figures, plus domestic politics and Thai trade figures.