BANGKOK, July 15 (Reuters) - Thai stocks are expected to
open lower on Tuesday after a worsening U.S. credit crisis
triggered overnight losses in offshore markets, dealers said.
They said a new economic stimulus package, to be announced
by Prime Minister Samak Sundaravej at 0630 GMT, was not
expected to lend much support to the market.
The package is expected to include cash handouts for the
poor, subsidised bus fares and tax cuts on certain fuels.
"The package will largely help low-income people. It will
not do much to boost market sentiment, which will continue to
edge lower following overseas markets," Tisco Securities
strategist Viwat Techapoonphol said.
Support on the main index .SETI is expected at 708-713
points and resistance at 722-725 points, the dealers said.
The benchmark SET index dropped 1.81 percent to 717.06
points on Monday. Click [TH/TRADING01] for cumulative trading
value by investor type. ----------------------MARKET SNAPSHOT @
0117 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1228.3 -0.9% -11.190
USD/JPY JPY= 106.03 -0.16% -0.170
10-YR US TSY YLD US10YT=RR 3.8764 -- 0.013
SPOT GOLD XAU= 971.2 -0.05% -0.500
US CRUDE CLc1 144.97 -0.14% -0.210
DOW JONES .DJI 11055.19 -0.41% -45.35
ASIA ADRS .BKAS 143.75 -0.35% -0.51
-------------------------------------------------------------
MARKET SUMMARY > Oil firms over $145 on Brazil, demand worries
weigh [O/R] > Wall St sags as bank fear offsets Fannie,
Freddie aid [.N] > FOREX-Dollar steadies but vulnerable,
Bernanke eyed [USD/] > TREASURIES-Bonds gain on safety bid amid
bank worries[US/] > Gold steady near 4-mth high, Tokyo hits
25-year high[GOL/]
STOCKS AND FACTORS TO WATCH
- PTT PCL (PTT.BK)
Thailand's top energy firm is considering selling up to 40
billion baht ($1.2 billion) worth of bonds later this year,
mostly in foreign markets, to refinance its debt.
[ID:nBKK122623]
- Thailand's cabinet will consider a Finance Ministry
proposal to virtually waive excise tax on ethanol-mixed
gasolines and diesel in a bid to counter soaring fuel prices,
government sources said [ID:nBKK179310]
- Thailand has delayed a rise in liquefied petroleum gas
(LPG) prices until next month, officials working on the details
of the new scheme said on Monday. [ID:nBKK128199]
- Thai consumer confidence in June fell to its lowest level
this year hurt by inflation at a decade high and ongoing
political uncertainties, a survey showed. [ID:nBKK281676]
- For the Thai press digest click on [ID:nBKK245930]
- 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=33.64 Baht)
(Reporting by Arada Therdthammakun; Editing by Darren
Schuettler)
