Thai shares may rally, depending on foreign flows

BANGKOK, Oct 30 (Reuters) - Thai stocks are expected to
open higher on Friday after a jump on Wall Street but further
selling by foreign investors could spoil the mood, analysts
said.

On Thursday the main Thai index .SETI fell for a second
day, closing down 1.97 percent at 690.10 after hitting a
two-week low of 685.39, weighed down by losses in energy blue
chips such as PTT Exploration and Production PTTE.BK, which
shed 3.6 percent.

U.S. stocks logged their best one-day percentage gain in
three months after data showing the U.S. economy returned to
growth in the third quarter, which brightened the outlook for
corporate profits. [ID:nN29371632]

"The index will probably go up, helped by gains on Wall
Street, but any rise won't be that big because foreign fund
outflows look like they're going to continue," said Therdsak
Taveetheeratham, a senior analyst with Asia Plus Securities.

Foreign investors unloaded Thai shares for a sixth straight
session on Thursday, selling a net 2.68 billion baht ($80.1
million) and thereby reducing their net purchases so far this
year to 56.9 billion baht.

Therdsak put support on the benchmark SET index .SETI at
685 and resistance at 700 and 703.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0158 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1066.11 2.25% 23.480
USD/JPY JPY= 91.4 -0.03% -0.030
10-YR US TSY YLD US10YT=RR 3.4936 -- -0.002
SPOT GOLD XAU= 1045.95 0.10% 1.000
US CRUDE CLc1 80.06 0.24% 0.190
DOW JONES .DJI 9962.58 2.05% 199.89
ASIA ADRS .BKAS 122.99 3.47% 4.13
-------------------------------------------------------------
MARKET SUMMARY > NYMEX-Crude tops $80 after strong U.S. GDP

[O/R] > US STOCKS-Wall St jumps as GDP growth spurs
optimism [.N] > FOREX-U.S. dollar's rally fades,
high-yielders firm [USD/] > TREASURIES-Bonds fall as Q3 GDP
raises recovery hopes [US/] > PRECIOUS-Gold steadies near
$1,050/oz, ETF unchanged [GOL/]

STOCKS AND FACTORS TO WATCH

- Thailand's industrial output and export numbers for
September are expected to offer more evidence of economic
recovery, with annual declines likely to moderate substantially
from the previous month. [ID:nBKK350712]

- Ratchaburi Electricity Generating Holding RATC.BK

Thailand's largest private power producer posted a 20
percent fall in quarterly profit to 1.66 billion baht, but that
beat the market consensus. [ID:nBAK002916]

- TPI Polene TPIP.BK

Thailand's third-largest cement maker reported a 6.6
percent drop in third-quarter net profit to 528.3 million baht,
but it was better than forecast. [ID:nBAK002915]

- Police may charge four or five people suspected of
spreading rumours about the health of the country's 81-year-old
king that triggered a slide in Thailand's stock market, a
senior police officer said. [ID:nBKK507967]

- Thailand's central bank forecast that the contraction in
the economy this year would be slightly smaller than it
forecast in July, while the rebound next year would be slightly
bigger at 3.3 to 5.3 percent. [ID:nBKK546795]

- Bangchak Petroleum PCL BCP.BK

The oil refiner said its average refining margin, excluding
the impact from oil inventories, should be around $5-6 a barrel
in 2010, down from $7-8 in 2009. [ID:nBKK361628]

- Sahaviriya Steel Industries PCL SSI.BK

Thailand's biggest hot rolled coil maker posted a
third-quarter net profit of 1.3 billion baht ($38.8 million),
beating forecasts, as product prices rose with the economic
recovery. [ID:nBAK002914]

- TMB Bank TMB.BK

The sixth-largest bank by assets said its major shareholder
ING (ING.AS) is continuing support for the Thai bank following
a restructuring of the Dutch financial group. [ID:nBKK201035]

- 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)