Thai share may rebound, PTT results due late

BANGKOK, May 15 (Reuters) - Thai stocks may track Wall
Street and other Asian stocks higher on Friday, bouncing back
from a steep drop a day earlier, with investors buying
companies with sound quarterly earnings, but profit-taking may
cap gains.

"The market should see a soft rebound after the U.S. market
rose overnight," said Chakkrit Charoenmethachai, an analyst
with Far East Securities.

"People will be buying shares with decent earnings, but
having said that, we will continue to see profit-taking both
from foreigners and institutions. The market has been
over-buying for quite some time now," he said, expecting
support on the main index .SETI at 517 and resistance at 537.

On Thursday, the index slid 4.7 percent to 526.55, ending
an eight-day rise, dragged down by selling of energy and
banking shares. Market turnover was heavy at 29.9 billion baht
($865 million), with foreign investors selling a net 1.05
billion baht of Thai shares.

PTT PTT.BK, the market's biggest stock, is due to report
its quarterly results after the close.

Analysts expect a 62 percent drop in its first-quarter net
profit as product prices fell in line with oil prices and there
were lower contributions from refinery and petrochemical
subsidiaries.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0217 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 893.07 1.04% 9.150
USD/JPY JPY= 95.94 0.01% 0.010
10-YR US TSY YLD US10YT=RR 3.1049 -- 0.013
SPOT GOLD XAU= 925.8 0.05% 0.450
US CRUDE CLc1 58.71 0.15% 0.090
DOW JONES .DJI 8331.32 0.56% 46.43
ASIA ADRS .BKAS 104.86 0.63% 0.66
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 8-Oil rises, tracking U.S. stocks

[O/R] > US STOCKS-Wall Street boosted by return to
banks, tech [.N] > FOREX-Dollar defensive, euro, others hold
uptrends [USD/] > TREASURIES-Bonds rise on jobs data
despite higher stocks[US/] > PRECIOUS-Gold rises on weak
dollar, inflation worries [GOL/]

STOCKS AND FACTORS TO WATCH

- Thai Prime Minister Abhisit Vejjajiva said he wanted to
see a stimulus package bearing fruit and fulfil Thailand's
commitments as chair of a regional grouping before calling a
general election. [nBKK392908]

- Advanced Info Service ADVA.BK

Top mobile phone operator reported an 11 percent fall in
quarterly earnings, hit by weak demand in a deteriorating
economy, but that beat expectations. [nBKK476031]

- Bangchak Petroleum BCP.BK

Refiner Bangchak reported an 87 percent rise in
first-quarter net profit, beating the market consensus.
[nBKK485602]

- Siam City Cement SCCC.BK

The second-largest cement producer posted a 21 percent drop
in first-quarter net profit to 805 million baht. [nBAK000774]

- Big C Supercenter BIGC.BK

Hypermarket operator reported a 5.3 percent drop in
quarterly net profit, mainly because of weaker sales.
[nBAK000772]

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- 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=34.55 Baht)
(Reporting by Ploy Chitsomboon; Editing by Alan Raybould)