Thailand's stock market is expected to remain volatile while the Thai currency is to stay strong against the U.S. dollar in the coming week, Thai News Agency reported Saturday, quoting a latest report by Thailand's Kasikorn Research Center (KRC).
Ongoing investor concerns over the recession in the United States and high global oil prices continue to depress investor sentiment on the Stock Exchange of Thailand (SET), according to the report.
The SET composite index closed at 803.32 points on Friday, down about 1.8 percent from a week ago, with total turnover for the entire week declining 21.37 percent as foreign investors became net sellers.
As several international markets remained closed for the Easterweekend holiday on Monday, investors on the SET continue to monitor local political problems as well as government-sponsored economic stimulus measures which will be discussed at next week's regularly-scheduled cabinet meeting on Tuesday, according to the report by KRC, a leading economic think tank.
The KRC says that the support level for the SET index next week is projected to be at 783 points and the resistance level at 812 points.
The report also predicts the Thai baht will remain strong against the greenback next week.
On Friday, the Thai currency, which has continued strengthening in the last two years, closed at 31.27 baht against the dollar compared to 31.30 baht on the onshore market on Thursday.
Source: Xnhua
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