BANGKOK, Aug 10 (Reuters) - Thai stocks may rise in early
trade on Monday, cheered by the positive sentiment on other
Asian stock markets after the latest U.S. jobs report raised
hopes for economic recovery.
"The Thai market is poised to rebound on Monday, fuelled by
continued optimism over the U.S. economic recovery after the
July employment report was better than expected," broker KGI
Securities said in a note to clients.
But a drop in oil prices might trigger selling in
heavyweight energy shares and that would cause volatility
during the session, Therdsak Taveeteeratham, an analyst at Asia
Plus Securities, said.
Foreigners bought a net 358 million baht ($10.5 million) of
shares on Friday, their sixth straight day of net buying,
pushing their purchases this year to 35.3 billion baht.
The index .SETI fell 0.8 percent on Friday to 644.20,
weighed down by losses in energy shares such as PTT PTT.BK
and PTT Exploration and Production PTTE.BK.
The benchmark is expected to trade in a range of 635-650 on
Monday, Asia Plus's Therdsak said.
Among stocks to watch, builder Sino-Thai Engineering
(STEC.BK) reported a surge in net profit to 42.7 million baht
for the second quarter from 6.3 million baht last year.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0146 GMT
------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1010.48 1.34% 13.400
USD/JPY JPY= 97.25 -0.43% -0.420
10-YR US TSY YLD US10YT=RR 3.8723 -- 0.016
SPOT GOLD XAU= 953.8 0.00% 0.000
US CRUDE CLc1 70.73 -0.28% -0.200
DOW JONES .DJI 9370.07 1.23% 113.81
ASIA ADRS .BKAS 121.98 0.22% 0.27
-------------------------------------------------------------
MARKET SUMMARY > Oil extends decline amid strength in U.S.
dollar [O/R] > Wall St Week Ahead: Stocks' rally up to
shoppers, Fed [.N] > FOREX-Dollar retains gain after post
jobs rally [USD/] > TRESURIES-Retreat as fewer US job
losses hurt safety bid [US/] > PRECIOUS-Gold steadies, ETF dips
0.4 pct [GOL/]
STOCKS AND FACTORS TO WATCH
Preuksa Real Estate PS.BK
- Citi raised Preuksa Real Estate's target share price to
8.30 baht from 8.0 baht and increased its 2009 earnings
forecast by 14.7 percent, citing the company's strong
expansion.
[ID:nBKK478716]
- 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=33.97 Baht)
(Reporting by Viparat Jantraprap and Kochakorn Boonlai;
Editing by Alan Raybould)
