Thai bourse likely to face correction

The Thai stock market is likely to face a correction after weeks of gains, with investor sentiment still fragile, analyst said. The Stock Exchange of Thailand (SET) composite index gained 11.43 points or 1.74 percent over the past week to close on Friday at 656.98 points. But the average daily value dropped 6.79 percent to 18.7 billion baht (548.7 million dollars).
"It's likely that the index may fall as the market has gained in the past few weeks," said Sasikorn Charoensuwan, an analyst at Phillip Securities (Thailand). "Even if the index gains next week I think the gain would be very limited and bad news could trigger a correction in the market," she said.
Sasikorn said no local factors were expected to influence the market and therefore investors would look to overseas factors, especially economic data from the United States.