Thai stocks to fall, oil drop to hit energy sector

BANGKOK, Nov 2 (Reuters) - Thai stocks are set to fall on
Monday after a sharp drop on Wall Street, with softer oil
prices CLc1 hitting energy big caps and economic jitters
prompting investors to shift money into less risky assets,
dealers said.

The Dow suffered its worst slide since July on Friday on
concern that the economic recovery won't be robust enough to
sustain a seven-month stock rally, while financials sank on
renewed worries about Citigroup's balance sheet. [.N]

"Prime factors that are going to overshadow the Thai market
are a steep fall on the U.S. index, weaker oil and foreign
selling," said Therdsak Taveetheeratham, an analyst with Asia
Plus Securities.

"I don't think earning plays will provide much of a market
boost, either, given that the results of most blue chip
companies have gone out already," he said.

On Friday, the main Thai index .SETI fell for a third
day, ending down 0.7 percent at 685.24, after touching its
lowest in more than two weeks at 684.17, dragged down by late
selling of energy stocks and information and technology shares.

Foreign investors unloaded shares for the seventh straight
session, selling a net 1.06 billion baht ($31.7 million) and
thereby reducing their net purchases so far this year to 55.9
billion baht.

Therdsak put support on the index at 670 and resistance at
690.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0150 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1036.19 -2.81% -29.920
USD/JPY JPY= 89.95 0.31% 0.280
10-YR US TSY YLD US10YT=RR 3.4015 -- 0.013
SPOT GOLD XAU= 1043.5 -0.09% -0.900
US CRUDE CLc1 76.88 -0.16% -0.130
DOW JONES .DJI 9712.73 -2.51% -249.85
ASIA ADRS .BKAS 118.89 -3.33% -4.10
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 7-Oil falls more than 3 percent on
economic woes [O/R] > FOREX-Yen and dollar advance as risk
taking cools [USD/] > Bonds climb as economic worry sparks
safety bid [US/] > Gold steadies $1,040/oz, ETF
holdings dip 0.915 T [GOL/]

STOCKS AND FACTORS TO WATCH

- Police in Thailand arrested two people on suspicion of
spreading rumours about the health of the country's 81-year-old
king that triggered a slide in stock prices, police said.
[ID:nBKK461703]

- An oil rig operated by a unit of top Thai energy firm
PTTEP (PTTE.BK) in the Timor Sea, which has been leaking for 10
weeks, caught fire, officials said. [ID:nSYD469764]

- PTT Chemical PCL PTTC.BK

Thailand's largest olefins maker expects higher sales
volume for its petrochemical products to drive profits up next
year and says it is looking to expand in Southeast Asian
markets. [ID:nBKK4946]

- Ratchaburi Electricity Generating Holding RATC.BK

Thailand's largest private power producer said it was in
talks to buy more than 20 percent of an unidentified Australian
power plant early next year as part of a regional hunt for
growth opportunities. [ID:nBKK443042]

- Thailand's long-awaited auction of third-generation
mobile phone licences could be delayed to February as the
documentation process may take longer than planned, a
regulatory official said. [ID:nBKK23133]

- 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=33.44 Baht)
(Reporting by Ploy Ten Kate; Editing by Alan Raybould)