BANGKOK: Thai stocks may move narrowly on Monday, with optimism about good corporate earnings bolstering some selective buying, but weakness in broader Asian stock markets would keep investors cautious.
"Positive expectations about the first quarter results will support the market. But the market may also face some profit taking after the main index's rally last week," said Parin Kitchaotornpitak, a senior analyst at broker Far East Securities.
The benchmark SET index edged up 0.32 percent on Friday at an 11-week high of 1,037.73, led by a 4 percent rise in top oil refiner Thai Oil due to hopes for better margins.
The market racked up $196 million of foreign inflows last week, the exchange said.
Resistance for the main index was seen at 1,040 and 1,045, with support at 1,030, analysts said.
Asian shares slipped on Monday on persistent anxiety over the tension in the Middle East and in Japan after the destructive quake and tsunami two weeks ago.
MSCI's index of Asian shares outside Japan was down 0.13 percent by 0239 GMT.
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