Thai stocks rangebound ahead of rate meeting, banks eyed

BANGKOK, July 14 (Reuters) - Thai stocks are expected to
trade in a narrow range on Monday with many investors sidelined
ahead of an expected rise in Thai interest rates this week,
analysts said.

"Investors are keeping a close watch on the rate meeting to
see whether it will meet expectations or not," Siam City
Securities analyst Sukit Udomsirikul said.

The Bank of Thailand is expected to raise its key rate by
25 basis points (bps) to 3.50 percent on Wednesday to fight
soaring inflation, according to a Reuters poll. [ID:nBKK74974]

Among stocks in focus, banks .SETB are due to start
reporting their second quarter results this week. Top lender
Bangkok Bank BBL.BK is expected to report a small increase in
net profit as strong lending offset higher expenses.

Resistance on the main index .SETI was expected at 735
points and support at 726 points.

On Friday, the benchmark SET index edged up 1.17 percent to
a near one-week closing high of 730.29 points. Click
[TH/TRADING01] for cumulative trading value by investor type.
----------------------MARKET SNAPSHOT @ 0101 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1239.49 -1.11% -13.900
USD/JPY JPY= 106.6 0.48% 0.510
10-YR US TSY YLD US10YT=RR 4.0218 -- 0.051
SPOT GOLD XAU= 964.95 0.13% 1.250
US CRUDE CLc1 143.38 -1.17% -1.700
DOW JONES .DJI 11100.54 -1.14% -128.48
ASIA ADRS .BKAS 144.26 -1.21% -1.76
-------------------------------------------------------------
MARKET SUMMARY > Oil falls over $2 on U.S. dollar recovery

[O/R] > Wall St Wk Ahead: Fannie, Freddie, data to rule
stocks[.N] > Dollar climbs as US lends hand to Fannie, Freddie
[USD/] > Prices fall as GSEs bailout talk stirs supply fears
[US/] > Gold extends gains near 4-month high, watches oil
[GOL/]

STOCKS AND FACTORS TO WATCH

- Tisco Bank TISC.BK

Thailand's second-largest car loan lender reported a 14.5
percent rise in second-quarter earnings to 501 million baht,
well above expectations.

- MCOT MCOT.BK

The state-owned broadcaster said its second-quarter
revenues and net profit would be higher than the first quarter,
due mainly to a rise in advertising income.

- Bangkok Bank BBL.BK

Thailand's biggest bank said it expected bad loans to drop
to below 5 percent of its lending by the end of this year as it
restructured loans to sugar companies. [ID:nBKK203943]

- Thai Prime Minister Samak Sundaravej, who lost two
ministers after tough court rulings, said he would rewrite the
army-designed constitution, a move likely to intensify street
protests to oust him. [ID:nBKK66906]

- Net crude oil importer Thailand is in talks to buy
300,000 tonnes a month of cheap diesel from Russia, Prime
Minister Samak Sundaravej said, a move by his embattled
government to appease angry farmers and truckers.
[ID:nBKK102622]

- For the Thai press digest click on [ID:nBKK174804]

- 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=33.62 Baht)
(Reporting by Arada Therdthammakun; Editing by Darren
Schuettler)