August 23, 2008
BANGKOK (AFP) - The Thai stock market is likely to rise next week in anticipation of a lower inflation figure for August, analysts said.
"The market is likely to rise next week. We believe that August's inflation report, coming out in early September, will lift market sentiment," said Kavee Chukitkasem, assistant managing director at Kasikorn Securities.
Kavee said trading had been lacklustre in the past week, with no good news to lift the market.
He said the market was likely to rise to the 700-point level next week.
"But we have to keep our eyes on the US market. Anything can happen if there is more bad news in the financial sector there," he said.
The Stock Exchange of Thailand (SET) composite index fell 25.55 points or 3.61 percent over the past week to close at 681.93 points on Friday.
