Thai share prices are likely to rise amid growing speculation over another US interest rate cut in early December, dealers said. "The market will trade in the positive territory, supported by hopes of another rate cut," said Kanang Duangmanee, an economist at Kasikorn Research Center.
Investors cheered following US Federal Reserve chairman Ben Bernanke's remarks Thursday hinting that the US central bank may cut its base federal funds interest rate on December 11.
"The news was good as investors have been worried about the subprime loan crisis and a possible recession in the US economy," said an analyst from Capital Nomura Securities.
Investors have forecast the Thai central bank will leave its key interest rate unchanged at 3.25 percent, despite calls from local business leaders urging the bank to cut borrowing costs to spur a slowing economy.
For the week to November 30, the Stock Exchange of Thailand composite index rose 22.19 points or 2.7 percent to close at 846.44. Kanang said the Thai market could rise to the 860-point level next week.