BANGKOK, June 2 (Reuters) - Thai stocks are likely to
extend rises on Tuesday, after hitting an eight-month high the
previous day, buoyed by optimism over the global economic
outlook, analysts said.
Index heavyweight energy stocks .SETEN should continue to
edge up after oil jumped more than 3 percent to hit a near
seven-month high over $68 a barrel in overnight trade, they
said. [nSP429646]
"Our market remains supported by continued foreign money
inflows as investors are more confident on global economy,"
said Sukit Udomsirikul, senior analyst at Siam City Securities.
On Monday, the benchmark SET index jumped 3.49 percent to
579.98 points, with the energy subindex .SETEN hitting its
highest level since September 2008.
The index SET is expected to face resistance around 600,
Sukit said.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0039 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 942.87 2.58% 23.730
USD/JPY JPY= 96.16 -0.38% -0.370
10-YR US TSY YLD US10YT=RR 3.6629 -- -0.017
SPOT GOLD XAU= 974.15 0.02% 0.200
US CRUDE CLc1 67.82 -1.11% -0.760
DOW JONES .DJI 8721.44 2.60% 221.11
ASIA ADRS .BKAS 114.59 3.47% 3.84
-------------------------------------------------------------
MARKET SUMMARY > Oil jumps 3 pct, factory data spurs recovery
hopes [O/R] > Wall St jumps on recovery bets and GM; AmEx
off late [.N] > US dollar falls to '09 low as risk
tolerance rises [USD/] > TREASURIES-Wall Street rally,
reassuring data hurt bonds[US/] > Gold ends down as dlr cuts
losses eyes $1,000 [GOL/]
STOCKS AND FACTORS TO WATCH
- Lam Soon PCL LST.BK
Thai palm oil refiner said it was aiming for a flat net
profit in 2009 and it was eyeing expansion in Southeast Asia
next year. The company's Managing Director Somchai
Chongsawachai said he hoped to at least match last year's
profit now that palm oil prices are rising again.
[ID:nBKK461807]
- Inflation in Indonesia and South Korea cooled further in
May and prices plunged in Thailand but only Indonesia looks set
to cut interest rates again as prices are expected to start
creeping up later this year. [ID:nSP441662]
- South Korea vowed to boost ties with its Southeast Asian
neighbours to jointly fend off a larger threat to their
export-driven economies from growing trade protectionism in
Western economies. [ID:nSEO133363]
- 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=34.11 Baht)
(Reporting by Arada Therdthammakun; Editing by Kazunori
Takada)
