Thailand shares expected range-bound

Thai share prices are expected to be range bound amid concern over weaker export growth as the local currency remains at 10-year highs against the dollar, dealers said. "The market will move narrowly as investors are anxious about the strong baht," said Chai Chirasevenupraphand, a strategist at Capital Nomura Securities.
Thailand's army-backed government is to approve a set of measures aimed at curbing the baht's rise on Tuesday amid worries that the strong local unit could slow the growth of exports, the key driver of the Thai economy. A strong baht makes Thai goods less competitive abroad and cuts the value of repatriated profits.
The Bank of Thailand, under pressure from the government to tame the baht, slashed its key interest rate Wednesday by 25 basis points to 3.25 percent.
The rate cut slightly weakened the baht, but the Thai baht still closed on Friday at a 10-year high of 33.65-67 to the dollar.