July 19, 2009
BANGKOK (AFP) - Thai investors are expected to take profits next week following gains on the bourse and will be eyeing leads from overseas markets, an analyst said.
The Stock Exchange of Thailand (SET) composite index rose 30.08 points or 5.31 percent over the week to close Friday at 596.11 points.
The average daily trading value rose 12.93 percent over the same period to 16.8 billion baht (493.4 million dollars).
"Our market rebounded strongly over the past week so I think investors will take profits and the index will be tested at the psychological 600-point mark," said Pichai Lertsupongkit, an analyst at Thanachart Securities.
The release of second quarter earnings of Thai banks and finance companies will affect individual stock prices, he said.
Pichai predicted the index would move between a supporting level of 585 points and a resistance mark of 600-604 points.
