January 10, 2009
BANGKOK (AFP) - The Thai stock market is forecast to move within a narrow range next week as concerns over the weakening economy dampen the market, an analyst said.
"The index is likely to move narrowly, little different to this week. Market sentiment will remain poor," said Adisak Phupiphathirungul, vice-president at Ayudhya Securities.
But he said the market could rise a little early week as investors expect the Bank of Thailand to announce Wednesday an interest rate cut.
"But the index may slip if the central bank's interest rate cut doesn't stir a positive reaction in the economy," he said.
Prime Minister Abhisit Vejjajiva held a meeting with his economic team Tuesday and has since promised a broad range of measures aimed at boosting Thailand's economy.
The Stock Exchange of Thailand (SET) rose 9.10 points or 2.02 percent over the week to close at 459.06.
