Thai Hot Stocks-Top builders gain, Tongkah up as gold rises

(Adds construction firms, Tongkah Harbour)

BANGKOK, Nov 3 (Reuters) - Thailand's stock index .SETI
was down 0.6 percent at 673.42 in thin turnover of 9.8 billion
baht ($293 million) at 0745 GMT on Tuesday.

Stocks on the move included:

BUILDERS RALLY AFTER BROKER'S "OVERWEIGHT" CALL

Builders were higher, led by a 2.6 percent rise in Ch
Karnchang CK.BK, the second-largest construction firm, to
5.95 baht. Sino-Thai Engineering STEC.BK was up 0.8 percent
at 6.75 baht and top builder Italian-Thai ITD.BK edged 0.6
percent higher to 3.16 baht.

United Securities said it had "overweighted" the sector,
which should be supported by the government's stimulus measures
and a turnaround in earnings.

Among its picks were Italian-Thai and Ch Karnchang, the
broker said, giving target share prices of 5.10 and 7.85 baht
respectively.

0746 GMT

TONGKAH HARBOUR THL.BK GAINS AFTER GOLD NEARS RECORD

Gold miner Tongkah Harbour climbed as much as 2.9 percent
to 1.04 baht in response to soaring gold prices, analysts said.

Gold -- around $1,062 an ounce -- rose towards last month's
record as the dollar slipped ahead of a U.S. interest rate
decision, and on news the IMF had completed half of a planned
gold sale. [ID:nSP68742]

By 0747 GMT, Tongkah shares were up about 1 percent at 1.03
baht.

0747 GMT

PTTEP PTTE.BK EXTENDS FALLS AFTER FIRE ON TROUBLED RIG

The country's top oil and gas explorer sank almost 2.6
percent to 133.50 baht after hitting a 3-1/2-month low of
131.50 at one point, adding to Monday's 5.5 percent drop
following a fire at an Australian project.

The start-up of Montara could now be delayed up to two
years, broker Kim Eng said. "Without Montara, PTTEP's full-year
2010 earnings per share (EPS) declines by 8 percent and 12
percent in 2011."

An oil rig operated by its PTTEP Australasia Pty Ltd
subsidiary in the Montara field located in the Southern Timor
Sea, which has been leaking for 10 weeks, caught fire on
Sunday. [ID:nSYD469764]

0353 GMT

KASIKORNBANK KBAN.BK (KBANK) DOWN

The fourth largest lender shed 1.3 percent to 77.50 baht in
early trade. Citigroup said it retained a "sell" rating on the
stock with a target share price of 69 baht, saying higher costs
from internal restructuring could curb earnings.

Citi Investment Research said in a note to clients dated
Oct. 2 that KBANK's expenses should peak in 2010, with
management's cost/income ratio guidance of 56-58 percent.

Rising provisions will also put pressure on KBANK's
earnings, it said.

0356 GMT

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($1=33.42 Baht)
(Reporting by Ploy Ten Kate; Editing by Alan Raybould)