August 16, 2008
BANGKOK (AFP) - The Thai stock market is expected to rise slightly next week, boosted by positive sentiment following a slate of corporate earnings reports, analysts said.
"The market is going to rise gradually but within a narrow range. It will most likely maintain the positive momentum from this week," said Mayuree Chowvikran, senior vice president at Kim Eng Securities.
"Speculation in banking and property shares are likely seen. But we may see a lot of trading in energy stocks as global oil prices are still volatile," Mayuree added.
But she said investors remain cautious about Thailand's domestic politics, after ousted prime minister Thaksin Shinawatra retreated into exile in Britain this week to escape corruption charges.
His allies, including several top members of the current government, still face charges before the Supreme Court.
The Stock Exchange of Thailand (SET) composite index rose 16.78 points or 2.42 percent over the past week to close at 707.48 oints on Friday.
Mayuree said the market was likely to rise to 715-point level next week.
