BANGKOK, June 15 (Reuters) - Thai stocks are expected to
open lower on Monday after the index hit a near nine-month high
last week, with investors keeping a close eye on a government
funding debate in parliament, analysts said.
Parliament is to begin a debate on an executive decree and
a government bill to raise 800 billion baht ($23.5 billion) in
loans to stimulate the economy, which would boost construction
firms in particular.
"Stocks should face profit-taking after they rose
continuously last week, while there is no positive news from
the external side to support the market. We should see some
selling," Asia Plus Securities analyst Therdsak Taveetheeratham
said.
Support on the main index .SETI is expected at 620 and
625 and resistance at 630 and 635, the analysts said.
On Friday, the benchmark SET index rose for a fourth day,
rising 0.2 percent to 628.55 although it was held back by
selling of shares in tourism-related firms due to concerns
about the impact of the H1N1 flu virus.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0053 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 946.21 0.14% 1.320
USD/JPY JPY= 98.15 -0.25% -0.250
10-YR US TSY YLD US10YT=RR 3.7739 -- -0.018
SPOT GOLD XAU= 937.15 -0.08% -0.750
US CRUDE CLc1 71.74 -0.42% -0.290
DOW JONES .DJI 8799.26 0.32% 28.34
ASIA ADRS .BKAS 114.03 -1.25% -1.44
-------------------------------------------------------------
MARKET SUMMARY > Crude pauses above $72 after fall from 8-mth
high [O/R] > US STOCKS-Defensive lift Dow, S&P; tech
weighs on Nasdaq[.N] > Dollar up broadly as oil drop hits
Aussie [USD/] > Bonds bask in afterglow of 30-year
auction [US/] > Gold steadies under $940, ETF
unchanged [GOL/]
STOCKS AND FACTORS TO WATCH
- Siam Makro MAKR.BK
The country's leading cash-and-carry wholesaler said it
expected second-quarter revenue would be similar to the 18.5
billion baht it earned in the first quarter of this year due to
improving economic conditions and hoped the company could
achieve its 2009 revenue growth target of 5 percent.
- Precious Shipping PSL.BK
Thailand's biggest dry bulk shipper said it expected a
tough market until the end of 2010 due to a global oversupply
of ships and despite rising Chinese demand. [nBKK94859]
- Car and truck sales in Thailand fell 26.2 percent in May
from the same month in 2008 after a 27.4 percent fall in April,
Toyota Motor Corp's (7203.T) Thai unit said. [nBKT001021]
- 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=34.05 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)
