Thailand Stock Market Conditions Experiencing Sideways Index

Thailand stock market conditions experiencing sideways index

Analysts have evaluated the stock market index as bearish today, and expected to move down to 730-720 points, the political crisis being a main influencing factor.

Mr. Aphisit Lymphdamrongkul (อภิสิทธิ์ ลิ่มธำรงกุล), assistant director to the analytical division of Kiatnakin Securities company (เกียรตินาคิน), stated that the stock index will experience a move from high to low, mainly attributed to the current political situation. Mr. Aphisit said that the index is bearish, and is not currently stable, but the situation should become clearer as time progresses.

Mr. Aphisit stated that stock purchase barriers should be around 720, while sell barriers should be around 730. He added that the political outcome of the next two days will be a main determining force on whether the stock market recovers or not.

Source: Thai National News Bureau Public Relations Department - 13 March 2006