Thai shares likely to rise further

Thai share prices are likely to rise further next week on expectations of a stronger baht and increasing oil prices, dealers said Friday.
"The market will move sideways and up as the baht is expected to further strengthen next week on continued foreign capital inflows," said Adisak Kammool, a senior stock analyst at KGI Securities.
They said investors were upbeat on October economic figures released by the Bank of Thailand over the past week, hoping that exports would remain strong for the rest of the year.
"As well, oil prices have already rebounded and are likely to soar further. That would benefit energy stocks - the biggest sector of the Thai bourse - to help boost the index next week," Asdisak added.
The Thai market will close Tuesday on the king's birthday.
For the week to December 1, the Stock Exchange of Thailand composite index gained 17.51 points or 2.4 percent to close at 741.38 on Friday. Adisak said the market was expected to trade around the 735.00-755.00 point range next week.