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Investors still worried by Thai political instability

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Red Shirts in downtown Bangkok

The weekly stock market closed at 736.16 points, down 6.78 points from the previous week, with a total trade value of 64.97 billion THB, a decrease of 47%.

The net purchase by minor investors stood at 6.78 billion THB while that by foreign investors, institutional investors, and securities firms accounted for 3.56 billion THB, 2.76 billion THB, and 463 million THB respectively.

The Stock Exchange of Thailand (SET) index closed in the negative territory on the first two days of the week while the mounting concern over the political issue resulted in major sell-offs in the banking and the energy sectors before plunging to the month’s lowest towards the end of the week.

The Kasikorn Research Center (KResearch) stated that next week’s movement of the SET index would still depend on the domestic political factor, expecting its support line to stand between 716 and 730 points and resistance line between 761 and 790 points.

Other key factors to be monitored are the Commerce Ministry’s international trade figures, the Monetary Policy Committee’s resolution from the third annual meeting on Wednesday, the banks’ turnovers in the first quarter of 2010, the global oil price, and the movements of regional stock markets.

Reporter : Rungkarn Rujiwarangkul

via Investors still worried by Thai political row : National News Bureau of Thailand.

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