Thai stocks will likely rise next week on improved sentiment after Wall Street hit new highs and the Federal Reserve suggested the US economy was on track, analysts said Friday.
"Sentiment is positive as the US stock market continued to rally, supporting overall Asian markets, including the Thai market," said Kanang Duangmanee, an economist at Kasikorn Research Centre.
Investors cheered Federal Reserve comments this week that the world's largest economy was picking up amid easing inflation pressure, and Kanang said buying sentiment would remain upbeat thanks to robust gains on Wall Street.
Apart from the US factors, the Thai market would hold firm due to falling global oil prices and easing inflation at home, she said.
Thailand's inflation rate in January fell to 3.0 percent from 3.5 percent in December due to declining energy costs, prompting the government to cut this year's inflation forecast to 1.5-2.5 percent from 2.5-3.5 percent seen earlier.
For the week to February 2, the Stock Exchange of Thailand composite index rose 16.68 points, or 2.6 percent, to close at 670.60 on Friday.
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