BANGKOK, 16 May 2011 – Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) index this week will be fluctuating in a narrow range following capital movements and external factors.
KResearch reported that the SET index last week closed in the positive territory at 1,084.96 points, up 3.25% from the week earlier thanks to capital inflows. The movement was in line with regional stock markets. Meanwhile, the MAI index closed at 290.41 points, up 1.80% from the week earlier.
The SET index went up from the beginning to the mid of last week following the regional market with several driving forces; however, the index fell by the end of last week because of selling forces from energy and banking businesses plus tightened monetary policies from China.
Kasikorn Securities (KSecurities) and KResearch estimated that the SET index this week from 16 to 20 May 2011 will be fluctuating in a narrow range depending on capital movements and external factors and might go up in line with the tendency on business operation of listed companies.
Factors that must be monitored are domestic energy and consumer goods prices, domestic politics, national export figures and US economic figures. KSecurities expected that the SET index’s support line and resistance line will be around 1,060-1,050 points and 1,102-1,113 points respectively.
