BANGKOK, March 3 (Reuters) - Thai stocks are expected to
extend falls on Tuesday, a day after hitting a 12-week low,
with the global financial crisis continuing to depress Wall
Street and other Asian bourses, analysts said.
U.S. stocks slid to 12-year lows on Monday as a record
$61.7 billion loss for AIG and another government bailout for
the insurer heightened concerns about the extent of the damage
to the financial system. [nN02430894]
"The index should follow other markets' falls. But some
investors are looking for bargains as the market technically
seems to be getting oversold," he said, referring to the
relative strength index (RSI) for the market at 34.
The market views an RSI of 30 or less as oversold and 70 or
more as overbought.
On Monday, the benchmark SET index slid 3.48 percent to
416.52, its lowest close since Dec. 8, dragged down by growing
concerns about the global banking system.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0033 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 700.82 -4.66% -34.270
USD/JPY JPY= 97.15 -0.36% -0.350
10-YR US TSY YLD US10YT=RR 2.8935 -- 0.029
SPOT GOLD XAU= 927.5 0.23% 2.150
US CRUDE CLc1 40.01 -0.35% -0.140
DOW JONES .DJI 6763.29 -4.24% -299.64
ASIA ADRS .BKAS 74.93 -4.97% -3.92
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MARKET SUMMARY > Oil drops 10 pct as economic gloom outweighs
OPEC [O/R] > Dow ends under 7,000, S&P tests 700 on AIG
fallout [.N] > Dollar index rises to 3-year high above 89
[USD/] > Bonds rally in safety bids as Wall Street tanks
[US/] > Gold steady with stocks eyed, ETF unchanged
[GOL/]
STOCKS AND FACTORS TO WATCH
- Italian-Thai Development ITD.BK
Thailand's top contractor reported a net loss of 2.66
billion baht for 2008 against a net profit of 1.01 billion baht
a year earlier. [nBKK115451]
- True Corp TRUE.BK
Thailand's only integrated telecoms firm reported a
fourth-quarter net loss, as losses from foreign exchange
outpaced revenue from its mobile phone business. [nBAK000696]
- Essso (Thailand) PCL ESSO.BK
The Thai unit of Exxon Mobil (XOM.N) reported a net loss of
6.86 billion baht for 2008 against a 7.05 billion baht net
profit it made a year earlier. [nBAK000695]
- Advanced Info Service PCL ADVA.BK
Top mobile phone operator said it could invest 60 billion
baht ($1.7 billion) over three years to install a
third-generation mobile network. [nBKK481413]
- 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=36.24 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)
