Thai stocks investors urged to follow up external factors

BANGKOK, January 19 (TNA) - Investors on the Thai stock market have been advised to keep monitoring vulnerable factors this year, particularly external ones. Kesara Manchusree, President of the Stock Exchange of Thailand (SET), made the suggestion on Monday, acknowledging that the SET could fluctuate this year due to the external factors. Kesara explained that foreign stock exchanges remain highly volatile and may influence the Thai stock market, pointing out that the Swiss National Bank recently floated Swiss franc and caused fluctuation in worldwide money markets, including those in Asia and Thailand. Besides, the European Central Bank is likely to increase its quantitative easing measure, which should raise liquidity and create positive effects for worldwide stock exchanges, including the Thai bourse. Meanwhile, Suchai Sutasthumkul, Chief Executive Officer (CEO) of the CIMB Thai bank, assessed that the SET index should rise by 10-15 per cent this year, thanks to domestic economic recovery and lower global oil prices. Suchai foresaw that people should, thus, spend more and the Thai economy should expand by 4 per cent this year. The CIMB Thai bank CEO noted that an economic slowdown has continued in China, Japan and Europe, while only the US economy is growing healthily; so, the world economy should not recover fully. The CIMB Thai bank CEO, however, expected satisfactory growth in Thailand's exports and commercial banks’ business due to domestic and international economic recovery. (TNA)