The Thai stock market is likely to move in a narrow range on Monday due to political uncertainty, and the support and resistance values are expected to be 640 and 660 points respectively, according to Asia Plus Securities head researcher Therdsak Thaveeteeratham.
Mr Therdsak said the trade value should be low throughout the day because investors are concerned over the political deadlock, adding that the state of emergency is still being enforced in Bangkok. Investors slow down their investment as political demonstrations have yet to be dispersed while the conflict is prolonging and extending to larger areas.
However, foreign stock markets, especially Japan's Nikkei, surged 3.59 percent after the US government has taken control of mortgage lenders Fannie Mae and Freddie Mac. This could help boost the Thai bourse, allowing the indices to rebound during the day, Mr Therdsak expected.
Mr Therdsak said the trade value should be low throughout the day because investors are concerned over the political deadlock, adding that the state of emergency is still being enforced in Bangkok. Investors slow down their investment as political demonstrations have yet to be dispersed while the conflict is prolonging and extending to larger areas.
However, foreign stock markets, especially Japan's Nikkei, surged 3.59 percent after the US government has taken control of mortgage lenders Fannie Mae and Freddie Mac. This could help boost the Thai bourse, allowing the indices to rebound during the day, Mr Therdsak expected.
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