Thai shares seen rising on prospect of big rate cut

BANGKOK, Jan 9 (Reuters) - Thai stocks are expected to rise
on Friday after a firmer finish on Wall Street, but economic
gloom could curb investors' appetite, dealers said.

Risks to growth will remain a dominant theme but the market
could see short-term relief on hopes of more rate cuts by the
central bank to stimulate the economy, they said.

"The rate cut story could still give people something to
play on," Siam City Securities analyst Apisak Limpthamrongkul
said, expecting resistance on the main index .SETI at 470 and
support at 460.

On Thursday, the benchmark index rose 0.45 percent to
465.03, helped by late buying of energy and property counters.

The prospect of deflation and the country's fast-dropping
economy should prompt another big rate cut by the Bank of
Thailand next week after its surprise one-point cut in
December, a Reuters poll showed. [nBKK373634]

Foreigners sold stocks worth a net 24.8 million baht
($713,200) on Thursday.

Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0210 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 909.73 0.34% 3.080
USD/JPY JPY= 91.24 0.12% 0.110
10-YR US TSY YLD US10YT=RR 2.4499 -- 0.008
SPOT GOLD XAU= 853 -0.36% -3.100
US CRUDE CLc1 42.49 1.89% 0.800
DOW JONES .DJI 8742.46 -0.31% -27.24
ASIA ADRS .BKAS 96.85 -0.03% -0.03
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 9-Oil drops nearly $1 on economic gloom

[O/R] > Wall St up on expected foreclosure deal; Dow off

[.N] > FOREX-Dollar slumps ahead of key US payrolls
report [USD/] > Bonds rise ahead of dreaded December jobs data

[US/] > PRECIOUS-Gold weaker on firmer dlr, US jobs data
eyed[GOL/]

FACTORS TO WATCH

- Preuksa Real Estate (PS.BK)

Property firm Preuksa forecast a 31 percent rise in 2009
revenue, above analysts' expectations, and it plans 15 billion
baht ($430 million) in new housing projects during the year.
[nBKK200056]

- Thailand's fiscal deficit is likely to rise to 470-480
billion baht ($13.5-13.75 billion) in the current fiscal year
because tax revenue will be lower than planned, Finance
Minister Korn Chatikavanij said. [nBKK383356]

- For the Thai press digest click on [ID:nBKK152827]

- 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= 34.77 Baht)
(Reporting by Ploy Chitsomboon; Editing by Alan Raybould)