Thai shares seen range-bound

Thai share prices are expected to be range-bound in the coming holiday-shortened week, with investors trading with caution amid sustained fears over rising US interest rates, dealers said.
"The market really depends on US indicators as investors remain worried about interest rates," said Kavee Chukitkasem, a senior market analyst at Capital Nomura Securities. Investors will carefully look at US producer and consumer price data, due next week, to forecast the direction of US interest rates, Kavee said.
Asian shares plunged recently as investors fretted over the prospect of rising US interest rates and its impact on the world's biggest economy. The Federal Reserve has raised interest rates 16 times since mid-2004 to the current 5.0 percent and there is intense speculation that the Fed will spike rates again when it meets on June 28-29. "Our market now depends on overseas factors," Amarej Singhanarong, vice executive president at Adkinson Securities, said, adding the Thai market would trade sideways next week due to a lack of positive leads.