ID :
108838
Sat, 02/27/2010 - 11:08
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Shortlink :
http://m.oananews.org//node/108838
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SET won’t fluctuate unless situation turns violent, says top analyst
BANGKOK, Feb 27 (TNA) – The Stock Exchange of Thailand (SET) composite index will not fluctuate next week unless the political situation turns violent following the ruling by the Supreme Court’s Criminal Division for Political Office Holders on ex-premier Thaksin Shinawatra’s frozen assets worth over Bt76 billion, according to a top stock analyst.
President Paiboon Nalinthrangkurn of the Securities Analysts’ Association said the slight increase in the SET index on Friday’s trading showed most investors believed the political standoff would not turn violent.
However, it needed to be monitored how the political climate would be in the aftermath of the court’s ruling.
Unless a riot broke out as happened last April and in the event that the government collapsed, he said, the SET index would move as usual next week since investors begin to be familiar with the political situation.
Mr Paiboon said the index is likely to rise to more than 800 points by the end of this year and profits by listed companies are projected to grow by 12 per cent.
Still, should the political standoff deteriorate and turn violent with bloodshed or there be an untoward incident such as a coup, the Thai stock market would be adversely affected and turn to be sluggish again.
“If there is no violence in three days ahead, the SET index will move in a normal direction with the global economic situation and European and United States economic conditions weighting the market. But should it turn violent, the index will be vulnerable and decline,” he said. (TNA)
President Paiboon Nalinthrangkurn of the Securities Analysts’ Association said the slight increase in the SET index on Friday’s trading showed most investors believed the political standoff would not turn violent.
However, it needed to be monitored how the political climate would be in the aftermath of the court’s ruling.
Unless a riot broke out as happened last April and in the event that the government collapsed, he said, the SET index would move as usual next week since investors begin to be familiar with the political situation.
Mr Paiboon said the index is likely to rise to more than 800 points by the end of this year and profits by listed companies are projected to grow by 12 per cent.
Still, should the political standoff deteriorate and turn violent with bloodshed or there be an untoward incident such as a coup, the Thai stock market would be adversely affected and turn to be sluggish again.
“If there is no violence in three days ahead, the SET index will move in a normal direction with the global economic situation and European and United States economic conditions weighting the market. But should it turn violent, the index will be vulnerable and decline,” he said. (TNA)
