SET expected to move up this week

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BANGKOK, 25 April 2011  – The Stock Exchange of Thailand (SET) index this week is expected to go up further thanks to positive domestic outlook, according to Kasikorn Research Center (KResearch). 

KResearch expected that the SET index this week (from 25 to 29 April 2011) would go up owing to investors’ speculation for good financial returns of listed companies in the first quarter this year, plus capital inflow from ‘carry trade’ and expectations for the upcoming election.

Factors affecting the stock market trade this week that must be monitored include oil price movement, Euro zone debt crisis, meeting outcome of the monetary policy committee of the US Central Bank.

Other economic figures need monitoring are Gross Domestic Product (GDP) figure for the first quarter this year, purchases of durable goods as well as property market indicators.

KResearch projected that the support line would be around 1,098-1,077 points while the resistance line would be around 1,113-1,121 points.