SET likely to rise further this week: KRC

BANGKOK, Aug 11 (TNA) – The Stock Exchange of Thailand (SET) composite
index is expected to increase further as a result of a bargain-hunting for
operating performances of listed companies to be released this week,
according to Kasikorn Research Center.

The leading think thank said internal factors that should be monitored
this week include the promulgation of the Deposit Insurance Institute Act
on Monday, the possible return to purchase shares by foreign investors,
and political developments.

A key political development that has taken place since the Kasikorn
analysis was released is the non-return of former premier Thaksin
Shinawatra and his wife for a mandatory court appearance Monday morning.

Key external factors include a possible decline in regional stock markets
and the release of key economic data in the United States.

KRC said the SET index would have a resistance level at 722 and 737 points
and a support level at 680 points.

It also forecast the baht would move in a range of 33.50-33.80 to the US
dollar this week.

Factors that should be kept for a watch include the local political woes,
dollar purchase by importers and foreign investors, direction of
currencies in the region, and sign of the market intervention by the Bank
of Thailand.

Equally important, the greenback's direction must be closely monitored
because much key economic and trade data such as the consumer confidence
index and the consumer price index are due to be released soon.