January 24, 2009
BANGKOK (AFP) - The Thai stock market is likely to be lacklustre next week as the market is short of new stimulus and investors are away for the Chinese New Year holiday, an analyst said.
"The market is likely to be lacklustre -- very light trading next week," said Viriya Lappromrattana, senior vice president at Kiatnakin Securities.
"We see no new factor stirring the market and it is going to be Chinese New Year next week so investors are likely to be away," she said.
Thailand's new cabinet agreed Tuesday to a second fiscal stimulus package worth 10 billion baht (286 million dollars) to stimulate the economy, which has been weakened by flagging global demand for exports.
"But worries over corporate earnings to be released in coming weeks are dampening market sentiment," Viriya said.
"The index could rise up to 460 points or fall down to 420 points next week," she said.
The Stock Exchange of Thailand (SET) fell 1.68 points or 0.39 percent over the week to close at 433.52.
