Thai stocks seen down on politics, credit worries

BANGKOK, Aug 19 (Reuters) - Thai stocks are set to fall on
Tuesday after losses in overseas markets because of renewed
global credit market worries, and domestic political
developments could fuel the selling, analysts said.

Investors are waiting for an Election Commission ruling on
whether the ruling People Power Party was implicated in the
electoral fraud for which a senior party leader has been
convicted, which could lead to the dissolution of the party.

"The market absolutely believes that the decision will be
to disband the ruling party and the index has recently factored
that in," Tisco Securities strategist Viwat Techapoonphol said.

He expected support on the main SET index .SETI at 686.

On Monday the index closed down 1.45 percent at 697.23 due
to profit-taking in banks and energy shares, after rising in
the two previous sessions.

Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0156 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1278.6 -1.51% -19.600
USD/JPY JPY= 109.73 -0.35% -0.380
10-YR US TSY YLD US10YT=RR 3.8104 -- -0.007
SPOT GOLD XAU= 790.25 -1.04% -8.300
US CRUDE CLc1 112.49 -0.34% -0.380
DOW JONES .DJI 11479.39 -1.55% -180.51
ASIA ADRS .BKAS 136.76 -0.31% -0.42
-------------------------------------------------------------
MARKET SUMMARY > Crude dips as storm threat subsides

[O/R] > Wall St tumbles on Fannie, Freddie worries
[.N] > Dollar barely budges as gold and commodities eyed
[USD/] > Bonds climb as stock slide sparks safety bid
[US/] > Gold slips below $800, watches U.S. dollar
[GOL/]

STOCKS AND FACTORS TO WATCH

- PTT Chemical PTTC.BK

The largest olefins maker said it expected revenue and
margins to rise this year, in line with product prices, but
margins are likely to fall next year. [ID:nBKK144493]

- Tongkha Harbour PCL THL.BK

The gold miner said it planned to wipe out a retained loss
of 108 million baht by the end of this year after it reported a
net profit of 37.4 million baht in the first half.

- Thitikorn PCL TK.BK

The motorcycle hire purchase lender said it aimed for 2008
revenue growth of 10 percent above last year's 2.32 billion
baht and expected loans to rise 8-10 percent this year as
higher agricultural prices should boost demand in provincial
markets.

- Minor International (MINT.BK)

Thailand's largest listed hotelier and fast food franchise
firm said it expected 2008 revenue to rise 15 percent, below
analysts' forecasts, but it kept its net profit target for the
year. [ID:nBKK341546]

- For the Thai press digest click on [ID:nBKK101496]

- 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=33.92 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)