|
|
| • EXCH RATES |
|
Baht/$ 33.56/59
Bid/Ask
|
GOLD |
14,000
Unchanged
|
|
STOCK MARKET
NUNTAWUN POLKUAMDEE & DARANA CHUDASRI
Thai stocks are expected to remain volatile for the next several months, with political uncertainties peaking in September, according to Pakhawat Kovithvathanaphong, the chairman of Trinity Securities.
Mr Pakhawat said the third quarter would see the conclusion of several key court cases related to former prime minister Thaksin Shinawatra.
Regardless of the verdict, the potential for protest and discontent is high.
The Thai stock market has fallen over 9% since the beginning of the year, with much of the losses coming over the past month since leaders of the People's Alliance for Democracy announced it would protest to force the downfall of the Samak Sundaravej government.
Mr Pakhawat said politics were negatively affecting investment sentiment even as listed company fundamentals and profitability were rising.
''I think we should see higher revenues from listed companies this year compared with last year, which will attract investors to the market in August before a sell-off in September,'' he predicted.
Mr Pakhawat said investors should consider the derivatives market or commodities market as options to reduce their risk exposure. Trinity Securities planned to apply for a brokerage licence from the Agricultural Futures Exchange of Thailand within the next several months.
The launch of gold futures and stock futures on the Thailand Futures Exchange this year would also give local investors added risk management and hedging tools, he said.
Vajiralux Sanglerdsilapachai, an excutive director for research at Trinity Securities, said the SET index could fall to 700-730 points from 774 now if oil prices and inflation continue to rise.
But stable oil prices and moderate inflation could help push the index to 950 points by the end of the year, she said, adding that earnings-per-share growth for the SET was projected at 31.4% this year.
Meanwhile, the Stock Exchange of Thailand yesterday announced a partnership with Thailand Privilege Card Co to co-operate in marketing activities aimed at Thailand Elite cardholders.
SET chairman Pakorn Malakul Na Ayudhya said the partnership would help the exchange raise its profile among international investors and entrepreneurs.
Thailand Privilege Card meanwhile would have the opportunity to promote the Elite card programme during SET roadshows, he said.
''Our objective is to link our customer databases together to develop new business opportunities or ventures,'' Mr Pakorn said.
Sorajak Kasemsuvan, the chairman of Thailand Privilege Card, said the company had over 2,500 members from 64 countries, of whom 80% are top businessmen.
Vichate Tantiwanich, a SET executive vice-president, said the partnership would help the over 500 companies listed on the SET and the Market for Alternative Investment reach out to high-profile international investors.
He said the SET would match listed companies together to meet with Elite cardholders, with the first joint programme possibly held at the end of the year focused on companies in the property sector.
Prev
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
Next
