Sideway trade to be seen on SET this afternoon

BANGKOK, 16 July 2009 (NNT) – The Stock Exchange of Thailand (SET) is expected to experience a sideways trade to hail new supportive factors following the increase of the Dow Jones Futures.

SET composite index ascended this morning in line with foreign stock markets, thanks to the Dow Jones Industrial Average. Investors are advised to wait and see the reports on companies’ performance in the United States of America tonight.

SET Index’s support line is expected to stand at 585 points and resistance line is expected to stand at 597 points.

As for other Asian markets, the Japanese benchmark Nikkei 225 index gained 74.91 points or 0.81 percent higher to settle at 9,344.16 points; Hang Seng Index from Hong Kong gained 294.91 points or 1.62 percent higher to close at 18,533.57 points; blue-chip Straits Times from Singapore ascended 19.51 points to settle at 2,408.93 points.