SET index to fluctuate this week

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BANGKOK, 15 August 2011 – Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) index is likely to fluctuate and might revive this week (from 15 to 19 August 2011) while the US and EU economic situations remain in focus.

 

KResearch reported that the SET index last week fell following selling forces upon concerns over the US economic situation as it closed at 1,062.07 points, down 2.86% from the week earlier. Meanwhile, the MAI index closed at 304.41 points, down 1.66% from the week before.

The SET index fell in the beginning of last week in line with other bourses after S&P reduced long-term credibility of the US. Investors sold Thai stocks continuously before it bounced back in the end of last week after the US central bank announced that it would pin interest rates for two years.

KResearch and Kasikorn Securities predicted that the SET index this week would fluctuate and has a chance to revive. The support line will be at 1,055-1,035 points and the resistance line at 1,072-1,094 points.

Domestic factors recommended to be monitored are international trade figures by the Ministry of Commerce while external factors in focus are still with US economic figure reports, the economic situation in the US, EU and especially banks in France.