Greek crisis forcing Thai stock down
Rungkarn Rujiwarangkul

BANGKOK, 6 May 2010 (NNT) – The Thai stock index is expected to fall hard in line with foreign markets today due to the impact of the Greek economic crisis spreading across Europe.

A stock analyst from KGI Securities Thailand predicted a significant fall in the Stock Exchange of Thailand (SET) today as the concern over Greece’s debt status had put the European market under another round of stress.

The European Central Bank (ECB) recently revealed that the diffusion of the debt problem to Spain and Portugal had become more likely. The demotion of their credits gives the markets an impression that the International Monetary Fund (IMF) may not be able to provide sufficient financial aid to them, resulting in yesterday’s plunge of the financial asset price.

The Thai stock market is expected to drop by at least 10 points today with the support line at 785 points in response to the plunge of Asian markets yesterday. Investors are still advised to keep an eye on local politics.