SET still in flux from political hitch

BANGKOK, 22 April 2010 (NNT) – The Thai stock index today continued to fluctuate under the current political uncertainty with a large sell-off volume from foreign investors.

The Stock Exchange of Thailand (SET) index hit the highest at 770.55 points and plunged to 755.27 points before closing at 761.18 points, up 3.33 points or 0.44%, with a total trade value of 22.57 billion THB.

The net purchase by minor investors stood at 1.27 billion THB while that of foreign investors, institutional investors, and securities firms accounted for 140 million THB, 318.83 million THB, and 1.09 billion THB respectively.

Assistant Director of the Analysis Division of Phillip Securities Thailand Theerada Chanyingyong said, although the market underwent flux for the whole day, the higher-than-expected March export figures helped the index rebound to the green zone. However, she noted that the positive sentiment was still suppressed by the political rally, and investors were reserved by the uncertainty.

Tomorrow’s index is expected to continue with the fluctuation. The market should shift within the range of 741-770 points. Investors are advised to minimize the risk from the ambiguous political situation by performing short-term speculation.