Thai stock mkt likely to swing in narrow range this week

BANGKOK, 15 February 2010 (NNT) – Thai stock market from 15 to 19 February is likely to swing in a narrow range. The main factor of such movement roots from external factors, according to the Kasikorn Research Center (KResearch).

KResearch predicted the tendency of the movement of Thai stock market this week would be almost unchanged as it would sway in a narrow range mainly as the results of uncertainty of the financial status of European countries, the direction of Dollar currency, the prices of oils and commodities, the movements of regional stock markets and the economic figures of US and China which were the main indicators of the global economy.

However, regarding the internal factors, KResearch reported that the ongoing political turmoil and mass demonstration of the protesters would cause only a slight effect to the stock market.

KResearch expected the Stock Market of Thailand (SET) index’s support line to stand at 696-690 points and resistance line at 708-722 points.

As for the country’s Thai baht currency direction within this week, the value is expected to move in the range of 33-33.3 THB per USD.