The Stock Exchange of Thailand (SET) Index is expected to fluctuate between 1,260 – 1,275 points due to anxiety over upcoming anti-government protests this week, analysts said Monday.
“Despite the positive sentiment of the US economic stimulus, investors should beware of mass sell-offs over the concern of a political rally on October 14 which will pressure the market” said analysts at Krungsri.
Last Friday, the Stock Exchange of Thailand (SET) Index closed at 1,267.14, down 7.69 points or 0.60 per cent with a total transaction value of 51 billion baht.
Analysts at TISCO securities said that investors would likely postpone their investments due to a holiday on Tuesday and the large rally landed for Wednesday.
Other things to consider will be the Banking sector’s third-quarter results.
What could increase sentiment on the day is the government’s subsidized shopping program which will be addressed at a cabinet meeting on Monday. The program aims to provide a 30,000 baht of tax deduction from goods expenses to increase purchasing power.
The analysts believed that the cabinet will also approve the extension of “We Travel Together” program which would benefit the tourism sector.