October 17, 2009
BANGKOK (AFP) - Thai stocks are expected to rise next week as bargain hunters enter the market, an analyst said.
The Stock Exchange of Thailand (SET) composite index lost 29.75 points or 5.95 percent over the past week to close Friday at 717.12 points.
The average daily value soared 59.7 percent from a week earlier to 36.1 billion baht (1.1 billion dollars).
Investors should be spurred if the Bank of Thailand's monetary policy committee decides, as expected, to leave interest rates unchanged at 1.25 percent next week.
Banking data, also to be released next week, are expected to positively influence the market.
"Investors will seek bargains because there are two positive factors that are likely to boost the market," said Arparporn Sawaengpak, an analyst from DBS Vicker Securities.
