SET's eyes on political situation, economic stimulus measures

By The Nation

Investors have been advised to keep an eye on the government, as the domestic political situation and their move to launch economic stimulus measures could affect the Stock Exchange of Thailand (SET) Index next week.

The SET Index on Friday (August 28) closed at 1,327.05, down 3.50 points or 0.26 per cent, while total transactions stood at Bt54.671 billion.

An analyst at Asia Plus Securities expected the index next week to fluctuate in a narrow range between 1,310 and 1,350, as the index would be under pressure from the political situation in the country.

"International factors, the global economy and listed companies' profit are still not worrisome during this time," the analyst said.

"We advise investors to follow the government's move whether they will issue additional economic stimulus measures or not."

The price of gold on Friday stood at US$1,957.65 per ounce, while the price in Thailand was Bt28,850 per baht weight.

An analyst at YLG Bullion International advised investors to buy gold for short-term speculation when the price moves to a support line between $1,909 and $1,932 per ounce.

"If the price rises to the resistance line between $1,963 and $1,976 per ounce, investors can sell some of the metal," the analyst said.

"Gold price could fall if it cannot rise over the resistance line, so investors should set up the stop loss point if it does not materialise as expected."

Source: https://www.nationthailand.com/business/30393720