SET to fluctuate this week

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BANGKOK, 6 June 2011 – Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) this week (6-10 June 2011) will fluctuate mainly depending on external factors. 

KResearch reported that the SET index last week closed at 1,057.86 points, down 0.86% from the week earlier upon concerns over the Greek debt crisis and fragile US economy. Meanwhile, the MAI index closed at 296.59 points, up 2.39% from the week earlier.

The Thai stock index went up on Monday due to speculation for stocks of banking group expected to benefit from the rising policy interest rate. The index however fell throughout the rest of the week because of the Greek debt crisis although it would be granted bailout programme, plus the fragile US economy.

KResearch and Kasikorn Securities predicted that the SET index this week might fluctuate in a narrow range largely because of external factors. The support line will be at 1,056, 1,048 and 1,035 points and the resistance line at 1,066-1,076 points respectively.

Factors that should be monitored for this week include development of Euro zone debt crisis, domestic politics, reports of US economic figures and others.