BANGKOK, May 18 (Reuters) - Thai shares look set to track
weakness in overseas bourses on Monday, with below-forecast
first-quarter results by PTT (PTT.BK) likely to trigger
profit-taking in the market's biggest stock, dealers said.
"There may also be profit-taking in the broader market
after recent capital gains in stocks," said Therdsak
Taveeteeratham, an analyst at Asia Plus Securities.
Support on the main index .SETI was seen at 520 and
resistance at 550, analysts said.
On Friday, the index closed up 1.4 percent at 533.92, with
banks outperforming, including third-ranked Siam Commercial
Bank SCB.BK, which surged 9 percent, and leader Bangkok Bank
BBL.BK, which rose 7 percent.
Market turnover was heavy at 26.3 billion baht ($761.4
million), with foreign investors buying a net 189 million baht.
PTT PCL (PTT.BK), Thailand's largest energy firm, reported
a 72 percent drop in quarterly net profit after the close on
Friday, missing forecasts, hurt by falling gas sales and lower
contributions from its petrochemical and refinery businesses.
[ID:nBKK197543]
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0218 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 882.88 -1.14% -10.190
USD/JPY JPY= 94.57 -0.44% -0.420
10-YR US TSY YLD US10YT=RR 3.103 -- -0.031
SPOT GOLD XAU= 929.8 -0.10% -0.900
US CRUDE CLc1 56.22 -0.21% -0.120
DOW JONES .DJI 8268.64 -0.75% -62.68
ASIA ADRS .BKAS 104.94 0.08% 0.08
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MARKET SUMMARY > Oil steadies above $56/bbl, eyes economic
data [O/R] > Wall St slides as oil prices fall
[.N] > Yen gains broadly as investors cautious
about risk [USD/] > Bonds undermined by US industrial
output, sentiment [US/] > Gold stays near 6-week high, ETF
holdings steady [GOL/]
STOCKS AND FACTORS TO WATCH
Thoresen Thai Agencies TTA.BK
Thailand's biggest dry bulk shipper reported a net profit
of 99 million baht for the first quarter of 2009, falling from
a net profit of 2 billion baht last year.
Two analysts surveyed by Reuters had forecast an average
net profit of 105 million baht for the January-March quarter.
Shin Corp (SHIN.BK)
Thailand's leading telecoms group reported a 3.2 percent
fall in quarterly net profit due to a weak performance at its
mobile phone unit, Advanced Info Service ADVA.BK.
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- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL-ECI-TH-RTRS]
($1=34.55 Baht)
(Reporting by Viparat Jantraprap; Editing by Alan Raybould)
