Thai shares seen lower as investors take profits

BANGKOK, May 28 (Reuters) - Thai shares are expected to
open lower on Thursday as investors take profits from a rally a
day earlir and Asian markets follow Wall Street lower, analysts
said.

"We will probably see a correction in today's market," said
Therdsak Taveetheeratham, an analyst at Asia Plus Securities.

"With Wall Street falling, you'll see that many bourses in
Asia are in the red zone this morning. We expect profit-taking
throughout the day," Therdsak said.

Wall Street dropped overnight with the Dow Jones index
.DJI losing 2.05 percent as rising yields on U.S. government
debt fueled concern that businesses and consumers could face
higher borrowing costs, which could hamper an economic
recovery. [nN27267470]

Therdsak expected resistance on the main index .SETI at
560 and support at 535.

On Wednesday, the benchmark SET index rose 2.34 percent to
555.41, lifted by optimistic consumer confidence data and oil
prices that hit a fresh six-month high.

Market turnover was at 18 billion baht ($524 million), with
foreign investors buying a net 593.5 million baht.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0130 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 893.06 -1.9% -17.270
USD/JPY JPY= 95.82 0.56% 0.530
10-YR US TSY YLD US10YT=RR 3.7206 -- -0.018
SPOT GOLD XAU= 947.45 -0.07% -0.650
US CRUDE CLc1 62.91 -0.85% -0.540
DOW JONES .DJI 8300.02 -2.05% -173.47
ASIA ADRS .BKAS 107.41 -1.65% -1.80
-------------------------------------------------------------
MARKET SUMMARY >UPDATE 8-Oil hits 6-month high, Saudi says
world can cope [O/R] >FOREX-Dollar gains vs euro as credit
anxiety eases [USD/] >TREASURIES-Bloated US debt burden
drives bond rout [US/] >PRECIOUS-Gold tad higher as
equities fall, dollar gains [GOL/]

STOCKS AND FACTORS TO WATCH

- Thailand's exports likely fell 25.1 percent in April from
a year earlier, their biggest drop in three months, but signs
of a pick-up in depressed manufacturing output suggests the
worst might be over for the economy, a Reuters survey showed.
[nBKK166864]

- Thai Storage Battery BAT3.BK

The biggest battery maker expects to return to profit in
2009 as lead prices recover from last year's slump, a senior
company executive said. [nSP191272]

- Asia's bad-loans market is set to grow through next year
as the global slowdown takes a toll on banks' assets that have
grown rapidly, but investors may find pickings are not as rich
as they were a decade ago during the region's financial crisis.
[nHKG21892]

- For the Thai press digest click on [PRESS/TH]

- For Thailand's IPO diary click on <TH/IPOMENU>

- For Thailand's stock exchange news click on [TH-SET]

- For Thailand corporate earnings: [TH-RES-RTRS]

- For Thailand economic forecast: [POLL-ECI-TH-RTRS]
($1=34.37 Baht)
(Reporting by Ploy Chitsomboon; Editing by Darren Schuettler)