USD/THB ends steady at 33.97-33.99 vs 33.98 last close. Foreign players buy but overall trade fairly thin amid absence of fresh catalysts, plus players want to avoid holding positions over weekend. “There’s nothing new to drive the market. The dollar/baht should hover around this level for quite a while,” says local dealer. Central bank’s downward revision to 2009 GDP but bullish stance on 2010 economy was widely expected, thus had little impact on market. Resistance tipped at 34.10, support at 33.80.
Thai shares end up 0.3% at 614.24 in moderate trade.
Rises in regional markets, trading volume on local bourse not strong enough to push benchmark through 618 stiff resistance. With central bank more bullish about 2010 economy, positive sentiment likely to help SET Index extend gains Monday, says Capital Nomura Securities’ strategist Chai Chirasevenupraphand. “Investors are likely to anticipate (an improvement) in earnings of industria sectors. Most analysts share the similar view that energy, construction and property sectors will show positive results.” Resistance tipped in 625-630 zone. Support put at 605-608 area. Among top actives, PTT Exploration and Production (PTTEP.TH) +0.7% at THB139, PTT (PTT.TH) +0.4% at THB233, PTT Aromatics & Refining (PTTAR.TH) +0.5% at THB19.80, Banpu (BANPU.TH) +0.3% at THB337.