SET to go up further this week

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BANGKOK, 11 July 2011  – Kasikorn Research Centre (KResearch) has projected that the Stock Exchange of Thailand (SET) index is likely to increase this week (11-14 July 2011) in line with other regional stock markets. 

KResearch reported that the SET index last week closed at 1,088.46 points, up 4.51% from the week earlier. Meanwhile, the MAI index closed at 309.81 points, up 1.82% from the week before.

The SET index skyrocketed last Monday after the Pheu Thai Party won the majority of seats in the 3 July general election; however, it slipped due to selling forces in the mid of the week upon concerns over Europe debt crisis but the index could rebound from positive US economic reports later on.

KResearch and Kasikorn Securities predicted that the SET index this week would go up in line with counterpart markets in the region. The support line will be at 1,070 points and the resistance line at 1,090-1,109 points.

Domestic factors to be monitored are policies of the new government, resolution of the Monetary Policy Committee meeting expected on 13 July while external factors in focus are still with the global oil prices and US economic figure reports.