April 19, 2008
BANGKOK - Thai share prices are likely to rise next week as investors are pinning their hopes on positive earnings reports from banks and other companies, a dealer said Friday.
"Investors are looking ahead to the earning reports from banks, that will come out next week," said Adisak Kammool, head of the research department at KGI Securities.
He told AFP that reports of growing profits, especially in the banking sector, would help boost the market, which rose this week buoyed by high oil prices, despite continued uncertainly about the state of the US economy.
"Investors are also optimistic about earnings reports from the energy sector, which will be presenting later in May," he said.
The coming week "looks positive if there are no unexpected factors coming up," he added.
Thai markets were closed on Monday and Tuesday as the kingdom celebrated the Buddhist New Year.
For the week to April 18, the Stock Exchange of Thailand composite index rose 2.21 percent or 18.30 points to close at 845.40.
Adisak said the market could rise up to the 860 level next week.
