BANGKOK, July 11 — The Stock Exchange of Thailand (SET) is expected to continue rising next week on continued buying by foreign investors after Thursday’s record closing at the highest level in more than a year, according to Kasikorn Research Centre and Kasikorn Securities.
Reports issued by the two private firms said the SET index would continue rising next week with support between 1,496-1,504 points .
Resistance levels are projected at between 1,532 and 1,552 points.
On Thursday, the SET index closed at 1,518.01 points, up 10.09 points from Wednesday, on a turnover of about Bt45.3 billion as investors bought following signs that the US Federal Reserve would maintain its policy interest rate longer than earlier anticipated.
Average daily turnover this week was at about 38.9 billion baht, a decline of 7.04 per cent from last week.
The market is closed Friday for Asalha Puja, a Buddhist religious public holiday.
The Thai baht, meanwhile, appreciated against the US dollar in the past three months as it neared Bt32.10 against the greenback.
The baht was able to penetrate major resistance at Bt32.30 per dollar mid-week, thanks to the strengthening of most Asian currencies.
On Thursday, the baht closed at 32.17 against the dollar, slipping from 32.12 which was at its strongest level in the past three months.
