BANGKOK, Oct 20 (Reuters) - Thai stocks will likely rise on
Tuesday, supported by regional gains after Wall Street's
year-high on strong corporate results, but rises are likely to
be capped by profit takings, analysts said.
Higher oil prices should prompt buying of energy shares
.SETEN, but banks .SETB could face profit taking after
quarterly results and some doubt foreign investors will quickly
return, limiting gains in the benchmark SET index .SETI.
"Our market remains vulnerable and I believe foreign
investors might not come back quickly," said Chakkrit
Charoenmethachai, an analyst with broker Far East Securities,
putting resistance on the SET at 752 and support at 722.
The SET rose 2.02 percent on Monday to 731.61, extending
Friday's 3.52 percent rise after a combined 7.2 percent plunge
last Wednesday and Thursday on concerns over the health of
Thailand's 81-year-old king.
The Bureau of the Royal Household said in a statement late
Monday King Bhumibol Adulyadej's condition was good and he no
longer had fever, 30 days after he was admitted to hospital
suffering from fever and fatigue. [ID:nSP343954]
Foreign investors sold Thai shares worth a net 117 million
baht ($3.51 million) on Monday, reducing net inflows this year
to 62.2 billion baht.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0030 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1097.91 0.94% 10.230
USD/JPY JPY= 90.54 -0.09% -0.080
10-YR US TSY YLD US10YT=RR 3.4059 -- 0.019
SPOT GOLD XAU= 1063.75 0.10% 1.050
US CRUDE CLc1 79.51 -0.13% -0.100
DOW JONES .DJI 10092.19 0.96% 96.28
ASIA ADRS .BKAS 126.52 2.05% 2.54
-------------------------------------------------------------
MARKET SUMMARY > NYMEX-Crude down after rising to 1-year high
near $80 [O/R] > US STOCKS-Wall St hits 12-month highs; Apple
up late [.N] > FOREX-Dollar hovers near 14-month low vs euro
[USD/] > Long-dated issues rise on builders' index, Fed
talk [US/] > PRECIOUS-Gold rises above $1,060 an ounce on
weak US$ [GOL/]
STOCKS AND FACTORS TO WATCH
- Bangkok Bank BBL.BK
Thailand's largest lender posted a surprisingly strong 17
percent rise in third-quarter net profit despite a decline in
lending, due mainly to the absence of an investment loss.
[ID:nBKK478992]
- Siam Commercial Bank SCB.BK
Thailand's third-largest lender reported a 7.7 percent rise
in quarterly net profit, in line with forecasts, helped by an
absence of investment losses, although lending shrank.
[ID:nBAK002902]
- Thai Airways International THAI.BK
The national carrier plans to issue shares next year to
raise funds for repaying short-term debt and expected its 2009
revenue of 157 billion baht and revenue for 2010 of 186 billion
baht, its newly appointed president said. [ID:nBKK207477]
- A landmark court ruling suspending operations in major
industrial zone has raised doubts about the ability of
Thailand's shaky government to protect investors.
[ID:nBKK500927]
- The Bank of Thailand is expected to leave interest rates
unchanged on Wednesday for the fourth meeting after aggressive
cuts from December to April to help the still weak economic
recovery, a Reuters poll shows. [ID:nBKK487191]
- 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=33.32 Baht)
(Reporting by Arada Kultawanich; Editing by Jason Szep)
