August 9, 2008
BANGKOK (AFP) - The Thai stock market is tipped to rise next week in anticipation of strong earnings reports and easing global oil prices, analysts said.
"The index is likely to rise next week as more companies' earnings reports will be released and expectations are that they will show a good performance," Viriya Lappromrattana, senior vice president at Kiatnakin Securities, said.
"The current decline in global oil prices, which is expected to go on, will also help put the market sentiment at ease next week," Viriya added.
But she warned that the market would likely move in a narrow range.
"We will see volatility in the market as long as political uncertainty in Thai politics continues," she said.
The Stock Exchange of Thailand (SET) composite index rose 12.04 points or 1.77 percent over the past week to close at 690.70 points on Friday.
Viriya said the market was likely to rise to the 720-point level next week.
