SET Index to hit 1,186pts in 2012
The Securities Analysts Association expect the SET Index to peak at 1,186 points next year, thanks largely to thanks mainly to the government's plan to cut corporate income tax from 30 per cent to 23 per cent.
The index should end the year at 1,130 points.
The target is based on the economic growth forecast of 4.1 per cent, while earning growth should be 11.61 per cent compared to 15.14 per cent this year. Due to severe flooding, this year's economic growth is expected to expand only 1.4 per cent.
The association also expected combined net-buys from institutional investors and foreign investors to hit Bt24 billion next year.
Sombat Naravuthichai, secretary-general of the Securities Analysts' Association, said that the analysts expected the index to end this year at 1,046 points, down sharply from the previous target of 1,197 points.
The latest round of analysts' poll also showed that 89 per cent of respondents supported the government's project to proceed with 10 more mass-transit routes and 84 per cent supported the corporate tax cut as well as urgent investment in flood-prevention system.
