BANGKOK, Aug 22 (Reuters) - Thai stocks are expected to
drop on Friday as renewed worries about the U.S. financial
sector could prompt further selling of bank shares .SETB,
analysts said.
"Although rising oil prices could draw some buying of
energy stocks, concerns over the U.S. financial system still
exist," a dealer at BT Securties said.
On Thursday the benchmark SET index fell 1.96 percent to a
two-week closing low of 676.53. Click [TH/TRADING01] for
cumulative trading value by investor type.
Support on the main index .SETI on Friday should be at
668-670 and resistance at 680-681, analysts said.
----------------------MARKET SNAPSHOT @ 0106 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1277.72 0.25% 3.180
USD/JPY JPY= 108.61 0.16% 0.170
10-YR US TSY YLD US10YT=RR 3.8272 -- -0.004
SPOT GOLD XAU= 835.35 -0.01% -0.100
US CRUDE CLc1 121.18 0.00% 0.000
DOW JONES .DJI 11430.21 0.11% 12.78
ASIA ADRS .BKAS 136.57 -0.18% -0.24
-------------------------------------------------------------
MARKET SUMMARY > Oil up 5 pct on global tensions, soft dollar
[O/R] > Energy lifts Dow, S&P but credit worries remain
[.N] > Dollar limps after slide, but outlook seen positive
[USD/] > Bonds falter as oil spike renews inflation fears
[US/] > Gold firms near 1-week high, weak U.S. dollar helps
[GOL/]
STOCKS AND FACTORS TO WATCH
- PTT Aromatics and Refining PTTAR.BK (PTTAR)
Thailand's largest integrated aromatics refinery said leaks
at its 145,000 barrel per day refinery had affected production.
[ID:nBKK47833]
- TMB Bank TMB.BK
Thailand's sixth-largest lender said it had agreed to sell
its 51 percent share of a brokerage joint venture to Australian
partner Macquarie Group (MQG.AX).
The bank signed an agreement to sell its share of TMB
Macquarie Securities (Thailand) to Macquarie International
Holdings last week and expected the deal to close in September.
[ID:nBKK321027]
- Syrus Securities PCL SYRU.BK
The broker said it would buy TMB Macquarie Securities'
retail banking business, including the transfer of management
and marketing officers, and expected the purchase to help
increase its market share to 1.3 percent from 1 percent.
TMB Macquarie would focus on its institutional and
corporate business, Syrus told the stock exchange.
- Hemaraj Land and Development HEMR.BK
The Thai industrial estate developer HEMR.BK said it
expected net profit to rise 15-30 percent this year due to
strong industrial land sales. [ID:nBKK336422]
- G Steel GSTE.BK
Shares in the Thai steel coil maker jumped as much as 21.5
percent on Thursday to the highest in three weeks after
newspapers reported a major shareholder was in talks to sell
its stake to ArcelorMittal (MTP.PA) group. [ID:nBKK244829]
- For the Thai press digest click on [ID:nBKK101496]
- 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=33.88 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)
