Thai stock indexes to fluctuate in narrow range next week

BANGKOK, 14 March 2010 (NNT) – Thai stock indexes were expected to swing in a narrow range next week as a result of the domestic political affair, according to the Kasikorn Research center (KResearch). KResearch predicted the movement of Thai stock indexes from 15 to 19 March, reporting that the indexes would slightly decline due to continued political tension. Moreover, the Thai stock index will continuously contract if mass protests were prolonged. Investors’ confidence in Thailand and foreign transactions would not be affected as much as expected earlier and could get some benefit from the protest, should the political tension end peacefully. External factors to be monitored include the direction of the USD, the movement of regional stocks, the report of economic figures of US, China and European countries, the report of Financial policy of the FED and Bank of Japan, and the fluctuation of prices of oil and consumer products among APEC countries, which will be discussed on 17 March. KResearch expected the Stock Exchange of Thailand (SET) index’s support line to stand at 716 -681 points and resistance line at 738-750 points. The Thai baht currency is estimated to stand in the range of 32.50 – 33.00THB per USD.