BANGKOK, March 5 (Reuters) - Thai stocks are expected to
rise on Thursday after a Wall Street rally sparked by relief
over a Chinese stimulus package that raised hopes about a
recovery in the global economy.
U.S. stocks ended a five-day losing streak as the Chinese
package encouraged investors to jump into energy and natural
resource shares. [nN04253895]
"Thai stocks should get momentum from other regional
bourses' rallies, driven by news of China's stimulus plan,"
Thanachart Securities analyst Pichai Lertsupongkij said.
"The market has come down for so long but at the same time
there are many stocks that have gone way under their values,"
he said, expecting resistance on the main index .SETI at 428
and support at 415.
On Wednesday, the benchmark SET .SETI index snapped a
four-day losing streak to rise 1.15 percent to 417.86, helped
by buying of energy blue chips and top banks .SETB.
Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0142 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 712.87 2.38% 16.540
USD/JPY JPY= 99.29 0.3% 0.300
10-YR US TSY YLD US10YT=RR 3.004 -- 0.028
SPOT GOLD XAU= 912.5 0.62% 5.600
US CRUDE CLc1 45.57 0.42% 0.200
DOW JONES .DJI 6875.84 2.23% 149.82
ASIA ADRS .BKAS 78.97 4.13% 3.13
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 7-Oil gains nearly 9 pct on U.S. crude
stocks drop [O/R] > US STOCKS-China hopes, oil's jump end Wall
St 5-day rout [.N] > FOREX-Dollar climbs vs yen, buoyed by
China optimism [USD/] > TREASURIES-Bonds sag as Wall Street
rally curbs safety bid[US/] > PRECIOUS-Gold falls as investors
pocket battered equities[GOL/]
STOCKS AND FACTORS TO WATCH
- The Thai government expects to receive $2 billion in
loans from international agencies in the second half of this
year to help support the economy, a spokesman said.
[nBKK410263]
- Oil shares .SETEN could get a boost from news that
China will increase spending on infrastructure and
manufacturing. For more see [nSP488798]. However, a drop in
energy giant PTT (PTT.BK) could weigh on the index as it trades
ex-dividend.
- 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=36.05 Baht)
(Reporting by Ploy Chitsomboon; Editing by Alan Raybould)
