SET to move up this week


BANGKOK, 2 May 2011  – Kasikorn Research Center (KResearch) has projected that the Stock Exchange of Thailand (SET) index this week still has a chance to go up further thanks to foreign capital influx while oil price and inflation situation must be monitored. 

KResearch reported that the SET index last week slipped to close at 1,093.56 points, down 1.06% from the week earlier as investors were selling to gain profits. Meanwhile, the MAI index closed at 293.83 points, up 1.50% from the week earlier.

As for this week’s trend (from 3 to 6 May 2011), Kasikorn Securities (KSecurities) and KResearch believed that the SET index could still go up owing to foreign capital inflows despite some selling forces to gain profits.

Factors that should be monitored include the oil price direction, reports of inflation situation in many countries including Thailand, domestic political situation, profit reports of listed companies as well as other important economic figures from the US.

KSecurities expected that the support line and resistance line of the SET index this week would be around 1,090-1,080 points and 1,113-1,135 points respectively.