Analysts lower SET index forecast
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Political instability is the greatest risk to the stock market next year, said stock analysts who revised down the SET index target by over 100 points.
In a survey by the Association of Securities Analysts, they are also concerned with the abolishment of the US quantitative easing as well as the slowdown in the Thai economy.
Consequently, the consensus end-2014 SET index target is revised down from 1,700 points (forecast in July) to 1,534 points. During the year, they viewed that the index would peak at 1,623 points and the bottom is expected around the 1,271-points level.
The analysts based their assumption on 4 per cent economic growth rate for 2014. They could further lower the forecast if private investment slows in line with public investment.
For now, listed companies' earning is expected to grow at 13.1 per cent, revised upward from the previous forecast of 11.6 per cent.
