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Erratic movement likely in Thai bourse this week


July 7, 2008

Erratic movement likely in Thai bourse this week
The Stock Exchange of Thailand (SET) composite index is expected to move with volatility this week as investors monitor local political problems, rising inflation and whether foreign investors will continue selling their holdings, according to a report issued by Kasikorn Research Center (KRC).

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The KRC report said investors are also expected to closely monitor global oil prices and regional stock markets as well as key US economic data.

On Friday the SET index closed at 743.03 points, down 4.22 percent from one week before. Last week's total turnover stood at about 51.76 billion baht, a sharp decline from 76.79 billion baht from the previous week, as foreign investors continued selling.

According to the centre, the support level for the SET index this week would be between 724-737 points and the resistance level around 770-780 points.

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