Thailand's stock market is expected to fall as uncertainty about a massive bailout plan in the United States dims market sentiment, analysts said Friday. "Next week, the market is likely to move narrowly down," said Pongrat Ratanatavanananda, vice president at Bua Luang Securities.
"We are unlikely to see the index rise next week as long as there is no clear answer about progress of the 700-billion dollar rescue plan in the US," Pongrat added.
The Thai market fell early this week, following the collapse of investment giant Lehman Brothers last week and further struggles among other major US financial institutions.
The market rose later on Wednesday following news of a bailout from the US Federal Reserve and the US Treasury aimed at curbing the financial turmoil. But the plan still needs approval from US Congress.
"Next week, the market could fall by up to 600 points," Pongrat said. The Stock Exchange of Thailand composite index fell 5.86 points or 0.93 percent over the past week to close at 618.97 points on Friday.
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