BANGKOK, Nov 4 – Thai stocks are likely to make a weak start on Wednesday, with foreign fund outflows continuing to weigh on the market and a retreat in crude oil in early trade likely to cap any recovery in energy blue chips, analysts said.
“I see the market probably having a cautious start, given the easing fund flows we’ve seen over the past three or four weeks,” said Therdsak Taveetheeratham, an analyst with Asia Plus Securities.
On Tuesday, the main Thai index lost 1.3 per cent to 668.48, at one stage hitting 666.81, its lowest since Sept. 4, with PTT Exploration and Production sliding over 5 per cent.
Foreign investors sold shares for the ninth straight session, dumping a net 2.88 billion baht ($86.1 million) and thereby reducing their net purchases so far this year to 50.96 billion baht.
Therdsak put support on the index at 660 and resistance at 674. – Reuters
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