SET index to go up this week


BANGKOK, 1 August 2011  – Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) index is likely to increase this week (from 1 to 5 August 2011) thanks to capital influx.

The SET index skyrocketed last Monday; however, it slipped on Tuesday due to selling forces before going up again in the middle of the week after the Election Commission certified MP status for 95% of the elected candidates. It then slipped on Friday as the US could not finalise the debt ceiling increase.

KResearch and Kasikorn Securities predicted that the SET index this week would go up thanks to capital influx while the new government formation will be clearer this week. The support line will be at 1,127-1,109 points and the resistance line at 1,140-1,150 points.

Domestic factors to be monitored are operational profits for the second quarter this year of listed companies, inflation announcement from the Ministry of Commerce while external factors in focus are still with US economic figure reports and its debt ceiling issue.