June 20, 2009
BANGKOK (AFP) - Thai stocks are predicted to trade in a narrow range with limited gains after a streak of losses in the past week, analysts said.
No significant domestic factors are expected to weigh on the market next week so investors would mainly look overseas, mostly to economic figures to be released in the United States, they said.
The Stock Exchange of Thailand (SET) index plunged 39.57 points or 6.3 percent over the past week to close Friday at 588.98.
Average daily volume fell 26.8 percent to 26.6 billion baht (778.9 million dollars).
"I expect the index to continue to recover to test 590 or 595 and it could even test the 600-point mark," said Veerachai Krongsamsri, analyst at Far East Securities.
"Next week the United States is to announce data in several areas including the consumer confidence index, home sales, jobless figures and growth for the first quarter," he said.
