BANGKOK, June 25 (Reuters) - Thai stocks are expected to
move in a narrow band on Wednesday, with some window-dressing
by domestic institutions bolstering bank shares but political
tension and economic worries continuing to weigh.
"Domestic politics should have a big weight on the market.
But banks are going to outperform on end-of-quarter window
dressing," a dealer at BT Securities said.
A trading opportunity was likely in heavily sold refinery
Thai Oil TOP.BK and resistance on the main index .SETI was
expected at 765-767 points and support at 754 points, he said.
Thailand's opposition leader launched a scathing but
largely symbolic parliamentary attack on Tuesday against Prime
Minister Samak Sundaravej, whose office remains under siege
from hundreds of street protesters. [ID:nBKK149866]
On Tuesday, the benchmark SET index closed down 0.67
percent at 763.75 points.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0203 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1314.29 -0.28% -3.710
USD/JPY JPY= 107.73 -0.07% -0.080
10-YR US TSY YLD US10YT=RR 4.0974 -- -0.006
SPOT GOLD XAU= 886.25 -0.33% -2.950
US CRUDE CLc1 136.8 -0.15% -0.200
DOW JONES .DJI 11807.43 -0.29% -34.93
ASIA ADRS .BKAS 152.38 -0.50% -0.76
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MARKET SUMMARY > Oil steady ahead of U.S. stocks data, Fed
decision [O/R] > U.S. stocks, dollar fall on weak economic
data [.N] > Dollar steadies after dip, euro off highs vs
yen [USD/] > Bonds gain as weak data support steady rate
view [US/] > Gold dips before Fed's interest rate decision
[GOL/]
STOCKS AND FACTORS TO WATCH
- PTT EXPLORATION AND PRODUCTION (PTTE.BK)
The energy firm has signed a heads of agreement with
Myanmar Oil and Gas Enterprise, paving the way for the drilling
and supply of natural gas from offshore Block 9 to PTT
(PTT.BK).
- Japanese companies, the biggest foreign investors in
Thailand, are less optimistic that business conditions will
improve in the second half of this year due to surging oil
prices and political uncertainty, a survey showed.
[ID:nBKK155169]
- For the Thai press digest click on [ID:nBKK315118]
- 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=33.50 Baht)
(Reporting by Viparat Jantraprap; Editing by Ed Cropley)
