Thailand's SET expected to pass 1,500 points

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Thailand's SET expected to pass 1,500 points
By Digital Content



BANGKOK, June 25 -- The Stock Exchange of Thailand (SET) is now on a rising trend and its SET index is expected to increase to 1,500 points, according to Sukit Udomsirikul, managing director and head of research at Maybank Kim Eng Securities.

However, the extent of the SET index rise depends on the policy progress made by the National Council for Peace and Order (NCPO) which seized power in the May 22 coup, Mr Sukit said Wednesday.

The expected rise of the SET index is in line with Thailand’s projected economic growth this year at 2.5 per cent and gains by listed firms at 10 per cent , with most of the profits to be derived from the financial, communication and and energy sectors.

Thailand’s economy is projected to enjoy sustainable growth at 4 per cent in 2015 while profit by SET-listed firms would rise 11 per cent, enabling the SET index to advance to 1,650, he said.

On worries over US downgrading Thailand on the human trafficking issue and the European Union slowdown of its relations with the kingdom, Mr Sukit said it is still unknown whether either would boycott Thai goods.

Thailand’s exports would be affected if they do because the US and European countries are Thailand’s key export markets.

Benjarong Suwankiri, head of TMB Bank’s Economic Analysis Centre, said Thailand’s economy this year is projected to grow 2 per cent due to several NCPO policies which are favourable to the public.

But several of its policies would not be completed this year, said Mr Benjarong.

Several major projects such as investment in basic infrastructure projects need to be monitored closely as they would be the major driving force for Thai economy in 2015, Mr Benjarong added. (MCOT online news)


-- TNA 2014-06-25

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