SCB Securities forecasts Thai stocks to reach 1,800-point

BANGKOK, April 26 (TNA) - Although the Stock Exchange of Thailand (SET) index is still moving around 1,555 points, SCB Securities has projected that it would climb to 1,800 points late this year due to favourable conditions including capital inflows from Europe and Japan, the 2015 fiscal budget disbursement and a higher domestic consumption from lower oil prices. Isara Ordeedolchest, senior director of SCB Securities, said the Thai bourse fell 6.4 percent from its peak in February as investors decided to sell upon noticing weak listed corporate earnings in the fourth quarter of 2014. Isara said investor anxieties would continue to persist until the local economy recovered which was expected to happen this late quarter two or during the second half this year. He also said there are signs that a general election could be held in Thailand during the first half of 2016 and that could help boost the market. On Friday, the SET closed at 1,555.46 points, up 10.62 points from Thursday, with total turnover of about 36.04 billion baht. (TNA)