Thai shares seen rising, TUF, Q2 earnings eyed

BANGKOK, Aug 7 (Reuters) - Thai stocks are expected to rise on Thursday as oil prices fell to a three-month low, easing fears about inflation.

Crude CLc1 slipped to a three-month low as rising U.S. crude inventories heightened concerns of a demand slowdown in the world's top consumer. [O/R]

"A recent drop in oil prices will trigger buying of shares in many sectors, not to mention that it helps cool off inflationary pressure at one point," UOB KayHian Securities analyst Kosin Sripaiboon said.

Resistance on the index .SETI was expected at 680, 682 and support at 670, Kosin said.

On Wednesday, the benchmark SET index rose 1.38 percent to 676.35 points, recovering from a two-week closing low of 667.12, buoyed by buying of bank .SETB shares.

Click [TH/TRADING01] for cumulative trading value by investor type. ----------------------MARKET SNAPSHOT @ 0121 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 .SPX 1289.19 0.34% 4.310 USD/JPY JPY= 109.35 -0.25% -0.270 10-YR US TSY YLD US10YT=RR 4.046 -- -0.012 SPOT GOLD XAU= 880.2 0.18% 1.600 US CRUDE CLc1 118.84 0.22% 0.260 DOW JONES .DJI 11656.07 0.35% 40.30 ASIA ADRS .BKAS 142.56 0.83% 1.17 ------------------------------------------------------------- MARKET SUMMARY > Oil hits three-month low on U.S. crude build

[O/R] > Market rises on Cisco outlook, drop in oil

[.N] > US dollar vaults to 7-month high vs yen, risk appetite [USD/] > Bonds slip as stock market gains lure investors [US/] > Platinum rises above $1,600 on strike, gold up [GOL/]

STOCKS AND FACTORS TO WATCH

- Thai Oil TOP.BK and BEC World BEC.BK are among companies that are due to release second-quarter earnings after the market close.

Analysts expect Thai Oil to post strong profits thanks to rising gross refining margin, while top TV broadcaster BEC World should also report higher earnings fuelled by rising advertising revenues.

- Thai Union Frozen TUF.BK

Asia's biggest canned tuna exporter said its second quarter earnings fell 6.2 percent, missing analyst forecasts amid rising production costs. [ID:nBKK000422]

- BankThai BT.BK

A small Bangkok-based lender said it had sold all its collateralised debt obligations (CDOs) for $77.04 million and would book the proceeds in the third quarter of this year. [ID:nBKK110804]