BANGKOK, June 1 (Reuters) - Thai stocks are expected to
edge higher on Monday, led by energy shares after oil prices
extended their recent rally, while construction firms could get
a boost from a court ruling this week, analysts said.
"The market could test the 565 level. In addition to energy
stocks, construction firms should get a boost on expectations
that they will benefit from government spending," Therdsak
Taveetheeratham, an analyst at Asia Plus Securities, said.
The Constitution Court will decide on Wednesday whether an
executive decree to secure 400 billion baht in loans for the
government's economic stimulus programme violated the charter.
Investors were also watching Asian market reaction to the
looming bankruptcy of U.S. car giant General Motors GM.N,
which is expected on Monday [nN31495007].
On Friday, the benchmark SET index rose 0.90 percent to
560.41 points, its highest closing since Oct. 3, 2008, as
surging oil prices boosted energy buyings.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0054 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 919.14 1.36% 12.310
USD/JPY JPY= 94.94 -0.38% -0.360
10-YR US TSY YLD US10YT=RR 3.4937 -- 0.032
SPOT GOLD XAU= 977.9 -0.03% -0.300
US CRUDE CLc1 66.5 0.29% 0.190
DOW JONES .DJI 8500.33 1.15% 96.53
ASIA ADRS .BKAS 110.75 1.10% 1.20
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MARKET SUMMARY > Oil rises near 7-mth peak after best month
this decade [O/R] > US STOCKS-Commodity shares, Coca-Cola lift
Wall Street [.N] > FOREX-Rise in risk appetite, US deficit
fear slam dlr [USD/] > TREASURIES-Bonds rebound strongly into
month end [US/] > Gold eases after hitting 3-mth highs,
ETF unchanged [GOL/]
STOCKS AND FACTORS TO WATCH
- PTT PCL PTT.BK
Thailand's biggest energy firm will be in focus after the
Bangkok Post reported PTT aimed to finalise a plan to
consolidate its four subsidiaries by October, with the new
structure to take effect from 2010.
The companies involved are PTT Aromatics and Refining
PTTAR.BK, top refiner Thai Oil TOP.BK, IRPC IRPC.BK, and
PTT Chemical PTTC.BK.
- Thai Airways THAI.BK
The national carrier said it was considering issuing new
shares to raise capital for its longterm restructuring plans.
The share issue was among several options being considered by
the cash-strapped airline. [nBKK473826]
- TMB BANK TMB.BK
Thailand's sixth largest lender said it expected 2009 loan
growth around the lower end of its target range of 3-5 percent,
based on assumptions that the economy will contract 4 percent
this year.
- 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=34.22 Baht)
(Reporting by Arada Therdthammakun; Editing by Darren
Schuettler)
