Thai stocks had a sluggish week ahead of national elections on February 6, with investors taking a wait-and-see approach even though the ruling party is widely tipped to win, analysts said on Friday. "I think the market will move in similar pattern next week, with investors waiting for the election to be over before they start buying again," said Ronakrit Sarinwong, analyst at Adkinson Securities.
Chareon Iampathanatham of Syrus Securities said the market was waiting for news both from Thailand and overseas, but said the index could post gains once the uncertainty cleared.
"Investors are waiting for the OPEC meeting on January 30, US Federal Reserve meeting on February 2, and the Group of Seven meeting on Friday and next Sunday our national election," Charoen said.
The Stock Exchange of Thailand (SET) index gained 4.81 points or 0.69 percent in the past week to close at 701.66.