Analysts up SET index forecast to 847 points for year end

Analysts up SET index forecast to 847 points for year end

BANGKOK, July 15 – Most securities analysts have increased their Stock Exchange of Thailand (SET) composite index forecast for late this year by 21 points to 849 from the 827 points projected in March due to the state-supported economic stimulus measure and improved performance results of listed companies, according to a survey of opinions of analysts from research houses of 21 securities companies.

Sombat Naravuthichai, secretary-general of the Securities Analysts’ Association, said the analysts estimated the index would peak at 873 points and bottom out at 733 this year.

Analysts also raised their economic growth estimate for this year to 5.2 per cent from the 4 per cent expected earlier.

As for confidence in the political situation, he said, two out of three -- 66.67 per cent -- of the analysts had medium-level confidence and 23.81 per cent are highly confident since they are of the opinion that the government managed the situation in a better-than-expected manner.

“Political woes and the government's instability remain the most negative factors as more than 70 per cent of the analysts still worry about the risk of continued violence.

“So, they want the government to step up efforts to address the problems, build stability, and boost national reconciliation on continually. It should also accelerate implementing the economic stimulus measures and promoting investment in the stock market,” he said.

-- TNA 2010-07-15