BANGKOK, May 14 (Reuters) - Thai stocks could take a
breather on Thursday after an eight-day rise as weakening U.S.
and Asian bourses may bring out profit-takers, analysts said.
"The market is likely to trade sideways to lower, but it's not
going to be a heavy market correction in our view," Siam City
Securities analyst Sukij Udomsirikul said.
Support on the main index .SETI was seen at 545 and 540,
with resistance at 555, analysts said.
On Wednesday, the index rose for the eighth session to
close up 1.5 percent, with a recent rise in oil CLc1 to near
$60 a barrel boosting energy and petrochemical shares.
Market turnover was heavy at 33.9 billion baht ($983
million), with foreign investors buying a net 1.6 billion baht.
Among the shares to watch is PTT Chemical PTTC.BK, the
biggest olefins maker, which reported a net loss in the first
quarter, and national carrier Thai Airways THAI.BK, which
posted a better-than-expected jump in first-quarter net profit.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0204 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 883.92 -2.69% -24.430
USD/JPY JPY= 95.5 0.04% 0.040
10-YR US TSY YLD US10YT=RR 3.0994 -- -0.013
SPOT GOLD XAU= 925 -0.05% -0.450
US CRUDE CLc1 57.73 -0.50% -0.290
DOW JONES .DJI 8284.89 -2.18% -184.22
ASIA ADRS .BKAS 104.20 -3.31% -3.57
-------------------------------------------------------------
MARKET SUMMARY > Crude falls below $58 on demand concerns
[O/R] > Wall St falls as retail data renews economic
angst [.N] > Dollar, yen near week's highs as caution
lingers [USD/] > Bonds boosted by retail sales data, falling
stocks [US/] > Gold eases as dollar recovers, ETF gains
[GOL/]
STOCKS AND FACTORS TO WATCH
Thai Airways International THAI.BK
National carrier reported a better-than-expected surge in
first-quarter net profit on Wednesday, boosted by a big gain on
foreign exchange and falling operating expenses.
[ID:nBAK000769]
PTT Chemical PCL PTTC.BK
Thailand's largest olefins maker reported a net loss in the
first quarter on Wednesday, due mainly to weak margins and a
foreign exchange loss.
[ID:nBAK000768]
Thaicom PCL THCOM.BK
Thailand's leading satellite operator posted a net loss of
220 million baht in the first quarter compared with a net
profit of 281 million baht last year. [ID:nBKK401446]
IRPC PCL IRPC.BK
The fully integrated petrochemical company posted a net
profit of 1.6 billion baht for the first quarter, little
changed from last year. Two analysts polled by Reuters had
forecast an average net profit of 573 million baht.
[ID:nBAK000770]
- 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=34.55 Baht)
(Reporting by Viparat Jantraprap and Wilawan Pongpitak;
Editing by xxxx)
