The Thai stock market is expected to move within a narrow range as overseas factors dominate, analysts said. "I think the index will move in line with overseas markets, which themselves await results from the G20 summit to see if any economic stimulus measures are agreed," Pichai Lertspongkit, an analyst at Thanachart Securities said.
Pichai said one domestic negative factor was poor third quarter company earnings results, showing many listed companies registering a loss. "With losses in the third quarter investors realise that more bad news can be expected in the next quarter," he said.
But he said an expected interest rate cut from the Monetary Policy Committee meeting on December 3 could raise sentiment. Therdsak Thaweetheeratham of Asia Plus Securities forecast the index would move between the 430 and 450-point mark next week. The Stock Exchange of Thailand composite index fell 7.30 percent or 33.84 points over the past week to close at 429.97.