March 14, 2009
BANGKOK (AFP) - Thai shares are likely to rise marginally next week on positive momentum but could drop off if investors opt to take profits, an analyst said Friday.
Gains on Wall Street and good retail sales data in the United States buoyed markets across Asia on Friday.
"The market is likely to continue its positive momentum... and that is likely to drive the index up slightly next week," said Kavee Chukitkasem, assistant managing director at Kasikorn Securities.
But he said the index could fall towards the end of the week as investors take profits.
The Thai bourse continued to move narrowly over the past week, with light trade until Friday when positive foreign data boosted the bourse.
The Stock Exchange of Thailand (SET) composite index rose 5.28 points or 1.26 percent over the past week to close at 424.79 on Friday.
