SET management to take care of external factors

BANGKOK, February 15 (TNA) - The Stock Exchange of Thailand (SET) management has expressed confidence in coping with external factors affecting the Thai bourse to some extent currently. SET President Kesara Manchusree expressed the confidence on Monday, stressing that the SET management is coping with impacts of Germany-based, loss-plagued Deutsche Bank and other external factors. Kesara acknowledged that the external factors, including lower global oil prices, have caused fluctuations to SET to some extent, while international investors are turning to gold, the price of which has, thus, already made a new high in years, suggesting investors to also carefully consider their investment plans. Kesara foresaw that Thailand's economic growth could be moderate and the US dollar appreciation should also be moderate because the US Federal Reserve (FED) is unlikely to raise its key interest rate, or the repurchase rate, sharply. According to the SET president, the Thai baht is likely to neither depreciate considerably nor fluctuate as much as it had done last year, while a slow repurchase rate hike in the United States should keep the Bank of Thailand (BOT)'s key interest rate, or repurchase rate, at 1.5 per cent. The SET president reported that operating results of listed companies on the Thai stock market have, meanwhile, turned out as expected, including those of commercial banks and energy companies. Assessing that the domestic political situation, including that related to Thailand's new Constitution draft and new general election could affect investors and the equity market, the SET president encouraged investors to switch to long-term investment. (TNA)