Thai stock will likely move in narrow range this week

BANGKOK, 13 June 2010 (NNT) – The Thai stock market from 14 to 18 June 2010 is expected to swing in a narrow range mainly as a consequence of external factors, according to the Kasikorn Research Center (KResearch).

External factors include the problems of oil leak in the Gulf of Mexico, the Euro debt crisis, the adopting of measures of both China and South Korea to deal with the uncertainty of the global economy, the price of oil and commodities, and reports of US economic figures. Internal factors would only cause mild effects to the Thai stock market this week.

KResearch expected the Stock Market of Thailand’s (SET) index support line to stand at 764-754 points and resistance line at 800-807 points.

The Thai baht currency is expected to move in the range of 32.40-32.60 THB per USD.