Thai shaare prices are likely to rise slightly as investors remain wary over high inflation, volatile oil prices and Thailand's political stability, a dealer said Friday.
"The market is expected to move narrowly and rise slightly next week. If it rises, that would likely be a technical rebound since it has fallen for the past few weeks," said Viriya Lappromrattana, senior vice president at Kiatnakin Securities.
Viriya said concerns over rising inflation, volatile global oil prices and tensions in Thai politics would continue to tarnish market sentiment. Thailand's inflation in May hit a 10-year high at 7.6 percent due to high oil and food prices.
Global oil prices reached a record of 139.12 dollars a barrel on June 6. Meanwhile, a small protest against Thailand's newly elected government has blockaded a main road in central Bangkok for nearly three weeks.
The protests are spearheaded by the so-called People's Alliance for Democracy, the same group that protested against Thailand's last elected leader, Thaksin Shinawatra. Their rallies eventually led to a coup against him.
After elections that restored democracy following more than a year of rule by royalist generals, the same protest leaders returned to the streets calling for the government of new Prime Minister Samak Sundaravej to step down.
Comments
Comments are closed.