Thai bourse investors await US Fed action on subprime
Posted by ~Ray @ 2007-10-06 10:21:38
Investors in the have transfer of Thailand (SET) are awaiting results of a US Federal keep back meeting on sub-prime mortgages and movements of global oil prices before re-entering the merchandise according to a report issued by Kasikorn investigate Centre. The inform said SET may act to rise next week if the US Federal Reserve decides to cut its arouse evaluate during its Tuesday meeting. Other positive factors for the SET next week are anticipated to hinge on a scheduled touch conference by US Federal Reserve head Ben Bernanke next Thursday on US sub-prime loan problems and energy stock prices may rise if global oil prices act to bring up the inform said. On Friday the SET composite index closed at 811.95 points up 1.31 per cent from a week ago. This week's average daily turnover stood at about Bt11.3 billion down from Bt13.8 billion last week. The report said give for the SET list next week would be between 800-810 points while the resistance aim is at some 820-840 points. The Thai baht is expected to act between Bt34.10-34.40 against the US dollar next week as traders are advised to check for a merchandise intervention by the Bank of Thailand and movements of the greenback after the Fed meeting it said. The baht stood at around Bt34.26 against the dollar late Friday compared to Bt34.23 on Thursday. (TNA)
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