Stock market to remain volatile next week

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BANGKOK, 16 Dec 2013,The local stock market is likely to remain volatile this week, says Kasikorn Research Center.,

According to the Center, the key factors determining the market’s directions are the local political upheaval and the result of the Quantitative Easing (QE) meeting of the U.S. Federal Reserves.

Last Friday Stock Exchange of Thailand(SET) closed at 1,341.13 points, a 1.5% decrease from the previous week’s close, with an average trading volume of 27.2 billion baht daily. Foreign investors continued to be net sellers, dumping nearly 14 billion baht worth Thai stocks in the past week.

Resistance and support levels for the Thai stocks this week ( December 16 – 20) are expected to be around 1,363 – 1,373 points and 1,288 – 1,300 points respectively.