Thai stock market projected to continue rising

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Thai stock market projected to continue rising
By Digital Content



BANGKOK, July 11 -- The Stock Exchange of Thailand (SET) is expected to continue rising next week on continued buying by foreign investors after Thursday’s record closing at the highest level in more than a year, according to Kasikorn Research Centre and Kasikorn Securities.

Reports issued by the two private firms said the SET index would continue rising next week with support between 1,496-1,504 points .

Resistance levels are projected at between 1,532 and 1,552 points.

On Thursday, the SET index closed at 1,518.01 points, up 10.09 points from Wednesday, on a turnover of about Bt45.3 billion as investors bought following signs that the US Federal Reserve would maintain its policy interest rate longer than earlier anticipated.

Average daily turnover this week was at about 38.9 billion baht, a decline of 7.04 per cent from last week.

The market is closed Friday for Asalha Puja, a Buddhist religious public holiday.

The Thai baht, meanwhile, appreciated against the US dollar in the past three months as it neared Bt32.10 against the greenback.

The baht was able to penetrate major resistance at Bt32.30 per dollar mid-week, thanks to the strengthening of most Asian currencies.

On Thursday, the baht closed at 32.17 against the dollar, slipping from 32.12 which was at its strongest level in the past three months. (MCOT online news)


-- TNA 2014-07-11

[kalbo123]

what goes up must come down...

[SheungWan]

what goes up must come down...

Not for my London property it doesn't.

[soalbundy]

what goes up must come down...

Not for my London property it doesn't.

It will,even insanity has its boarders. Wait until no tradesmen,firefighters,police,sales people,nurses,road sweepers,dustmen, etc can afford to live anywhere near London,true splendid isolation.

[SheungWan]

what goes up must come down...

Not for my London property it doesn't.

It will,even insanity has its boarders. Wait until no tradesmen,firefighters,police,sales people,nurses,road sweepers,dustmen, etc can afford to live anywhere near London,true splendid isolation.

I have noticed that there are no milkman floats around when I am in town, otherwise hunky-dory and property prices still on the up. No facility for boarders though; only day schools.

[dotpoom]

what goes up must come down...

Not for my London property it doesn't.

It will,even insanity has its boarders. Wait until no tradesmen,firefighters,police,sales people,nurses,road sweepers,dustmen, etc can afford to live anywhere near London,true splendid isolation.

In Ireland, house prices dropped about 50% since the crash of 2008, now rising slowly again in the capital but staying down elsewhere, Have many "ghost estates" (unfinished and no money to complete them) there now.

[mikemellow]

If the coup slows the economy enough and if tourism slows more, the market will have to correct downward. I am not willing to bet the army has the expertise to run a growing economy. Armys seem better at stopping things.

[Baerboxer]

what goes up must come down...

Not for my London property it doesn't.

It will,even insanity has its boarders. Wait until no tradesmen,firefighters,police,sales people,nurses,road sweepers,dustmen, etc can afford to live anywhere near London,true splendid isolation.

In Ireland, house prices dropped about 50% since the crash of 2008, now rising slowly again in the capital but staying down elsewhere, Have many "ghost estates" (unfinished and no money to complete them) there now.

The signs are that Ireland has turned the corner. All the fundamentals are there and remember everyone suffered in 2008. A friend in Singapore wanted to open an operation in Europe while the costs were low. Ireland was his choice after much searching for a hole raft of reasons.

Thailand is similar. Investors still keep looking at if favorably. We bought our current house here in 2007. Not many estates near us then, Now they've mushroomed all around and more are being built. They are being finished and occupied.

Ireland will bounce back for sure too.

[Baerboxer]

If the coup slows the economy enough and if tourism slows more, the market will have to correct downward. I am not willing to bet the army has the expertise to run a growing economy. Armys seem better at stopping things.

What signs do you currently see of the Thai economy slowing down? What financial and economic sources do you use?

I suggest that the military leaders are smart enough to know their own limitations and clever enough to make sure they have the right experts advising on appropriate subjects.

I doubt we will see 5 or 6 cabinet reshuffles in less than 3 years.

[rollrunna]

what goes up must come down...

Not for my London property it doesn't.

It will,even insanity has its boarders. Wait until no tradesmen,firefighters,police,sales people,nurses,road sweepers,dustmen, etc can afford to live anywhere near London,true splendid isolation.

errr..i suspect not quite.......

could easily come a time when the service industries are housed in special ghetto type blocks..... something similar to the Police Housing which existed many years ago.... yes they will be subsidized by the higher rates that the community would pay for .

A sort of a Upstairs /downstairs arrangement for the millionaire London dwellers... Utopia..i think not...( it's happening now....council high rise ..)

[mikemellow]

If the coup slows the economy enough and if tourism slows more, the market will have to correct downward. I am not willing to bet the army has the expertise to run a growing economy. Armys seem better at stopping things.

What signs do you currently see of the Thai economy slowing down? What financial and economic sources do you use?

I suggest that the military leaders are smart enough to know their own limitations and clever enough to make sure they have the right experts advising on appropriate subjects.

I doubt we will see 5 or 6 cabinet reshuffles in less than 3 years.

[mikemellow]

I have not used any government stats I have just been on the streets of Bangkok talking to people who have had their businesses slow down and workers who have had their hours cut from jobs at major corporations. Many people are worried about money. The stock bubble here in Thai can continue for a long time if the big boys keep pushing up stock prices but I am waiting for the recession I see coming before I invest my own money in Thai. Also it may hurt the economy as many western countries are not that interested in touring a country in the middle of a coup. At some point in time the loss of tourist dollars is going to be felt in the hospitality industry and related industries.

[Jim walker]

And so the Thai junta army boys now have a few spare Baht’s to buy some shares no big deal people all over the world buy and sell shares every day.

[SheungWan]

what goes up must come down...

Not for my London property it doesn't.

It will,even insanity has its boarders. Wait until no tradesmen,firefighters,police,sales people,nurses,road sweepers,dustmen, etc can afford to live anywhere near London,true splendid isolation.

In Ireland, house prices dropped about 50% since the crash of 2008, now rising slowly again in the capital but staying down elsewhere, Have many "ghost estates" (unfinished and no money to complete them) there now.

Maybe you are confusing London with Londonderry.

[AfterLOS]

what goes up must come down...

Not for my London property it doesn't.

Regarding your London property:

Virginity like bubble, one prick all gone

[AfterLOS]

Opening POST = SELL signal for Thailand SET Index? aka The Newsweek Phenomenon

hehehehehe, we'll know soon enough.

--------------------------------------------------------------

The Magazine Cover Indicator

When Barron's released its “Time to Buy” cover this past weekend, I knew it was time to go short both financials and the overall market.

And it's a good thing I did. The market would fall 250 points on Monday, led in part by financials.

You see, magazine covers have a history of leading investors astray.

http://www.cfapubs.org/doi/pdf/10.2469/faj.v63.n2.4520

[AfterLOS]

Opening POST = SELL signal for Thailand SET Index? aka The Newsweek Phenomenon

hehehehehe, we'll know soon enough.

--------------------------------------------------------------

The Magazine Cover Indicator

When Barron's released its “Time to Buy” cover this past weekend, I knew it was time to go short both financials and the overall market.

And it's a good thing I did. The market would fall 250 points on Monday, led in part by financials.

You see, magazine covers have a history of leading investors astray.

http://www.cfapubs.org/doi/pdf/10.2469/faj.v63.n2.4520

More on magazines horrible market timing (akin to Financial Cris thread here at thaivisa) -

scroll down to the bottom section to see all the famous magazines who had terrible timing - hence the use of them as contrarian signals

http://www.wealthdaily.com/articles/magazine-covers-the-contrarian-indicator/3268

[Cake Monster]

Thai stocks are a good investment at the moment due to the settling of the political stage after the coup.

Surely the fund managers will make a killing as they withdraw massive amounts of money from this countries economy prior to the propose September election / instalment of a PM

Look ahead people

[techboy]

Opening POST = SELL signal for Thailand SET Index? aka The Newsweek Phenomenon

hehehehehe, we'll know soon enough.

--------------------------------------------------------------

The Magazine Cover Indicator

When Barron's released its Time to Buy cover this past weekend, I knew it was time to go short both financials and the overall market.

And it's a good thing I did. The market would fall 250 points on Monday, led in part by financials.

You see, magazine covers have a history of leading investors astray.

http://www.cfapubs.org/doi/pdf/10.2469/faj.v63.n2.4520

More on magazines horrible market timing (akin to Financial Cris thread here at thaivisa) -

scroll down to the bottom section to see all the famous magazines who had terrible timing - hence the use of them as contrarian signals

http://www.wealthdaily.com/articles/magazine-covers-the-contrarian-indicator/3268

I really don't see a point here. No successful investor is going to by stocks simply because a magazine article gives a thumbs up.

[SheungWan]

what goes up must come down...

Not for my London property it doesn't.

Regarding your London property:

Virginity like bubble, one prick all gone

Another one who missed the boat which for them is over the horizon and out of sight.

[SheungWan]

Opening POST = SELL signal for Thailand SET Index? aka The Newsweek Phenomenon

hehehehehe, we'll know soon enough.

--------------------------------------------------------------

The Magazine Cover Indicator

When Barron's released its Time to Buy cover this past weekend, I knew it was time to go short both financials and the overall market.

And it's a good thing I did. The market would fall 250 points on Monday, led in part by financials.

You see, magazine covers have a history of leading investors astray.

http://www.cfapubs.org/doi/pdf/10.2469/faj.v63.n2.4520

More on magazines horrible market timing (akin to Financial Cris thread here at thaivisa) -

scroll down to the bottom section to see all the famous magazines who had terrible timing - hence the use of them as contrarian signals

http://www.wealthdaily.com/articles/magazine-covers-the-contrarian-indicator/3268

I really don't see a point here. No successful investor is going to by stocks simply because a magazine article gives a thumbs up.

I am highly wary of tipster magazines but quality newspapers such as the WSJ and FT provide useful insights on stocks which may tip one's perspectives. LEX in the FT is particularly insightful. An article may incline one towards a sale or purchase and not necessarily on the day of the reading. Not much in the way of the SET though.