April 12, 2008
BANGKOK (AFP) - Thai share prices are likely to rise next week amid investor hopes for positive earnings reports from companies and banks, a dealer said Friday.
"Investors are waiting for earning reports from companies and banks that will start coming later this month. They are optimistic about those reports," said Kavee Chukitkasem, assistant managing director at Kasikorn Securities.
Kavee said reports of growing profits, especially in the banking and energy sectors, would help boost the market next week.
"But, investors still worry about the government's stability. They don't care who or which party will form the government. They just hope to see it stable and implementing measures to stimulate the country's economy," Kavee said.
Election authorities said Friday they would recommend that a court disband two partners in Thailand's coalition government, posing a fresh challenge to the newly elected government.
Thai markets are closed Monday and Tuesday next week as the kingdom celebrates the Buddhist new year.
For the week to April 11, the Stock Exchange of Thailand composite index rose 0.27 percent or 2.26 points to close at 827.10.
Kavee said the market could rise up to the 850 level next week.
