Set Index Likely To Reach 830 After Elections

[george]

SET index likely to reach 830 after elections

BANGKOK: -- The Stock Exchange of Thailand (SET) index is likely to rally to touch 830 points following the country’s general elections since certain concerns on future uncertainties have ease, according to a leading securities broker.

Montri Sornpaisarn, president of Kim-Eng Securities (Thailand) Plc, said while the investment sentiment looked unfavorable last year, he believed the market would turn bullish this year with the index likely to run uphill to the 830-point level, particularly after the general elections this weekend.

He said the elections are one of many key factors that make investors hesitate to invest. The clear picture of the election result would help facilitate their investment decision.

As well, the continued growth in performance results of listed companies and the significant improvement in investment sentiment would encourage investors to increase trading on the market.

He projected foreign and institutional investors would have greater influence in trading this year.

Mr. Montri believed many uncertainties would ease this year and the SET would respond positively to the development.

But what he wanted investors to monitor was the movement of the baht, which had strengthened against the US dollar. More countries had begun to use other currencies than the dollar for their international reserve.

He said the strengthening of the baht must correspond to the movement of China’s yuan so that Thailand would not be put at disadvantage in terms of trade.

As a result, the Bank of Thailand would need to oversee the baht to ensure it moves in the same direction of yuan.

--TNA 2005-02-03

[Harmonica]

SET index likely to reach 830 after elections

BANGKOK: -- The Stock Exchange of Thailand (SET) index is likely to rally to touch 830 points following the country’s general elections since certain concerns on future uncertainties have ease, according to a leading securities broker.

Montri Sornpaisarn, president of Kim-Eng Securities (Thailand) Plc, said while the investment sentiment looked unfavorable last year, he believed the market would turn bullish this year with the index likely to run uphill to the 830-point level, particularly after the general elections this weekend.

He said the elections are one of many key factors that make investors hesitate to invest. The clear picture of the election result would help facilitate their investment decision.

As well, the continued growth in performance results of listed companies and the significant improvement in investment sentiment would encourage investors to increase trading on the market.

He projected foreign and institutional investors would have greater influence in trading this year.

Mr. Montri believed many uncertainties would ease this year and the SET would respond positively to the development.

But what he wanted investors to monitor was the movement of the baht, which had strengthened against the US dollar. More countries had begun to use other currencies than the dollar for their international reserve.

He said the strengthening of the baht must correspond to the movement of China’s yuan so that Thailand would not be put at disadvantage in terms of trade.

As a result, the Bank of Thailand would need to oversee the baht to ensure it moves in the same direction of yuan.

--TNA 2005-02-03

Elections have been concluded for quite some time now. We're nowhere near 830.

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I have an account with them, but when it comes to the market, I always listen to what they have to say; but then I just do the opposite. Very reliable indicator.