The Thai stock market looked set for a volatile week because of uncertain overseas oil prices, but the announcement of a new cabinet late Friday was expected to offset the uncertainty, analysts said. "The index has already fallen to near the 710-point mark, and next week could be very volatile, swinging either way from day to day," depending largely on world oil prices, Sukit Udomsirikul, chief strategist at Capital Normura Securities said.
The main overseas concern was the surge in world oil prices last week, and uncertainty ahead of the next meeting of the Organisation of Petroleum Exporting Countries (OPEC) on March 16.
"It could give clear direction for oil prices," Sukit said.
Uncertainty over oil prices should be cushioned by Thai Prime Minister Thaksin Shinawatra's announcement late Friday of his new cabinet line up, analysts said, with few significant changes expected in economic policies.
"The hot issues are energy prices, how to boost country's export," Sukit said.
The Stock Exchange of Thailand (SET) index fell 17.44 points or 2.39 percent over the past week to close Friday at 710.98 points.
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