The Thai stock market is likely to move within a very narrow range next week as most investors remain on the sidelines throughout New Year holidays, an analyst said. "We can expect light trading will continue next week, similar to this week," said Chai Chirasevenupraphand, market analyst at Capital Nomura Securities.
"Most investors are likely to stay on the sidelines throughout the coming long (New Year) holidays," he added. The Thai index moved narrowly over the past week ahead of the Christmas holiday, mostly in a positive direction.
Thailand's new government led by Prime Minister Abhisit Vejjajiva started its first week at work, following an officially swearing-in by the king on Monday.
"The index may rise up to the 456-point level or may fall to 435 points next week," he said. The Stock Exchange of Thailand (SET) edged down 0.39 points or 0.08 percent over the week to close at 446.62.