Thai stock market expected to move narrowly this week

BANGKOK, 8 February 2010 (NNT) – The Thai stock market from 8 to 12 February 2010 is expected to fluctuate in a narrow range, mainly as a consequence of internal factors, according to the Kasikorn Research Center (KResearch).

KResearch reported that there were many internal factors which would affect the stock market, such as the ongoing political uncertainties, the Consumer Price Index (CPI) by the University of the Thai Chamber of Commerce, and the performance of listed companies in the fourth quarter of 2009.

External factors to influence the stock trading include the US dollar currency direction, oil price, commodity prices, movements of the regional stock markets, and reports of vital economic indicators of the US and China.

KResearch expected that the Stock Market of Thailand (SET) index’s support and resistance lines would likely stand at 670-660 points and 694-708 points, respectively.

Regarding the domestic Thai baht currency direction for this week, the value is estimated to move in the range of 32.9-33.3 THB per USD.