AGL 38.00 Increased By ▲ 0.43 (1.14%)
AIRLINK 132.17 Decreased By ▼ -0.33 (-0.25%)
BOP 5.59 Decreased By ▼ -0.05 (-0.89%)
CNERGY 3.79 Increased By ▲ 0.02 (0.53%)
DCL 8.80 Decreased By ▼ -0.07 (-0.79%)
DFML 40.99 Decreased By ▼ -0.01 (-0.02%)
DGKC 88.30 Decreased By ▼ -1.86 (-2.06%)
FCCL 35.24 Increased By ▲ 0.16 (0.46%)
FFBL 66.47 Decreased By ▼ -0.03 (-0.05%)
FFL 10.33 Increased By ▲ 0.18 (1.77%)
HUBC 109.02 Increased By ▲ 2.62 (2.46%)
HUMNL 14.10 Increased By ▲ 0.70 (5.22%)
KEL 4.87 Increased By ▲ 0.01 (0.21%)
KOSM 6.83 Decreased By ▼ -0.02 (-0.29%)
MLCF 41.75 Decreased By ▼ -0.05 (-0.12%)
NBP 59.00 Increased By ▲ 0.42 (0.72%)
OGDC 181.00 Decreased By ▼ -0.25 (-0.14%)
PAEL 25.60 Decreased By ▼ -0.10 (-0.39%)
PIBTL 5.85 Increased By ▲ 0.02 (0.34%)
PPL 147.34 Decreased By ▼ -1.06 (-0.71%)
PRL 23.30 Increased By ▲ 0.08 (0.34%)
PTC 15.46 Increased By ▲ 0.22 (1.44%)
SEARL 68.20 Decreased By ▼ -0.59 (-0.86%)
TELE 7.27 Increased By ▲ 0.03 (0.41%)
TOMCL 35.62 Decreased By ▼ -0.38 (-1.06%)
TPLP 7.48 Increased By ▲ 0.08 (1.08%)
TREET 14.27 Increased By ▲ 0.03 (0.21%)
TRG 50.54 Decreased By ▼ -0.31 (-0.61%)
UNITY 26.60 Increased By ▲ 0.20 (0.76%)
WTL 1.22 Increased By ▲ 0.01 (0.83%)
BR100 9,775 Increased By 7.5 (0.08%)
BR30 29,551 Increased By 151.2 (0.51%)
KSE100 92,052 Increased By 113.5 (0.12%)
KSE30 28,739 Decreased By -4.5 (-0.02%)

Thai stocks are likely to fall next week amid growing worries over a slump in export growth as the baht continues to hit new nine-year highs against the dollar, analysts said Friday.
Investors will also trade with caution ahead of the US Federal Reserve's two-day policy meeting, which ends on Wednesday, they said. "Sentiment is going to be negative as investors are worried over weak export growth due to the baht's appreciation against the dollar," said Kanang Duangmanee, a senior economist at Kasikorn Research Centre.
The Thai baht hit its new nine-year highs against the dollar over the past week due to ongoing speculation that the Bank of Thailand would soon end controversial capital controls aimed at taming the rising local unit.
Despite repeated official comments saying the government would keep the currency controls, investors were betting the opposite, pushing the Thai baht to new highs against the greenback. The Thai baht on Friday closed at 34.92-93 to the dollar, up from 35.22-24 a week earlier.
Kanang said the rising baht would pressure the market, especially export-linked stocks, as it makes Thai exporters less competitive in overseas markets and cuts the value of firms' repatriated profits.
Exports are the key driver of the Thai economy, which is expected to slow down this year mainly due to sluggish shipment growth. For the week to March 16, the Stock Exchange of Thailand composite index slipped just 0.12 points to close at 671.05 on Friday.

Copyright Agence France-Presse, 2007

Comments

Comments are closed.