BANGKOK, May 29 (Reuters) - Thai shares are expected to
open higher led by energy shares on Friday, but concern about
expected weak economic data could limit gains, analysts said.
"The market should pick up mainly because of the recent
rise of oil prices during the past couple of days," Anupon
Sriard, an analyst with BFIT Securities, said.
The Bank of Thailand's April report, due to be released
around 0730 GMT, is expected to show exports fell 25.1 percent
from a year earlier, the biggest decline in three months.
But analysts said signs of a pick-up in manufacturing
suggested that the worst might be over for the economy.
"Foreign markets have also shown signs of some improvement
on expectations that the world economy might be heading to a
recovery," Anupon said.
He expected resistance on the main index .SETI at 560 and
support at 550.
On Thursday, the benchmark SET index ended flat at 555.43
in thin market turnover of 10.9 billion baht ($317 million).
Foreign investors, however, bought a net 627.01 million baht,
bringing the total purchase to 6.2 billion baht so far this
year.
Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0148 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 906.83 1.54% 13.770
USD/JPY JPY= 96.33 -0.6% -0.580
10-YR US TSY YLD US10YT=RR 3.6083 -- -0.004
SPOT GOLD XAU= 963.85 0.53% 5.050
US CRUDE CLc1 64.72 -0.55% -0.360
DOW JONES .DJI 8403.80 1.25% 103.78
ASIA ADRS .BKAS 109.55 1.99% 2.14
-------------------------------------------------------------
MARKET SUMMARY >UPDATE 8-Oil soars past $65 on OPEC, US
inventory drop [O/R] >US STOCKS-Energy shares, falling bond
yields lift market [.N] >FOREX-Yen rises after broad slide on
retail flows [USD/] >TREASURIES-Bonds recover some ground
after sell off [US/] >Gold hits 2-month high on weak
dollar, fund buying [GOL/]
STOCKS AND FACTORS TO WATCH
- Amata Corp AMAT.BK
The biggest seller of industrial land said it expected its
net profit and revenue in the first half of 2009 would drop
from a year earlier due to weaker sales caused by a global
recession and domestic political uncertainty.
- 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=34.37 Baht)
(Reporting by Ploy Chitsomboon; Editing by Darren Schuettler)
