BANGKOK, May 25 (Reuters) - Thai shares are likely to trade
in a narrow range on Monday ahead of economic data expected to
show the country slipped into its first recession in a decade
in the first quarter, analysts said.
The NESDB, Thailand's state planning agency, is scheduled
to release the data at around 0230 GMT.
Economists polled by Reuters forecast a median, seasonally
adjusted 1.6 percent contraction in gross domestic product in
the first quarter, after a 6.1 percent plunge in the previous
three months. [ID:nSP413128]
Sukit Udomsirikul, a senior analyst with Siam City
Securities, expected the main index .SETI to find support at
545 and resistance at 560.
"Oil firms and shipping companies should continue to draw
interest, but there should be a correction in some stocks as
investors take profits after recent rallies," he said.
On Friday, the index gained almost 1 percent to 554.02, led
by top energy firm PTT PTT.BK and its energy subsidiary, PTT
Exploration and Production (PTTE.BK).
Market turnover was a brisk 21.9 billion baht ($638
million), with foreign investors selling a net 1.6 billion baht
of shares.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0135 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 887 -0.15% -1.330
USD/JPY JPY= 94.53 -0.27% -0.260
10-YR US TSY YLD US10YT=RR 3.4495 -- 0.000
SPOT GOLD XAU= 956.4 0.06% 0.550
US CRUDE CLc1 61.78 0.18% 0.110
DOW JONES .DJI 8277.32 -0.18% -14.81
ASIA ADRS .BKAS 107.12 0.56% 0.60
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MARKET SUMMARY > Oil extends gains, rises towards $62 on weak
U.S. dollar [O/R] > US STOCKS-Wall St slips late as budget
worries linger [.N] > FOREX-Dollar steady near 5-month low,
US auctions eyed [USD/] > TREASURIES-Selloff persists on debt
worries before supply[US/] > PRECIOUS-Gold flat, ETF holdings
rise 1.2 pct [GOL/]
STOCKS AND FACTORS TO WATCH
- Thailand's economy may have contracted by 5-8 percent in
the first quarter from a year earlier, Prime Minister Abhisit
Vejjajiva said. [ID:nL0333123]
- Thai Airways THAI.BK said its average cabin factor for
the second quarter would fall short of target due to seasonally
low demand, but the airline still expected to meet its full
year target of 76.7 percent.
- 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=35.51 Baht)
(Reporting by Arada Therdthammakun; Editing by Darren
Schuettler)
