BANGKOK, April 7 (Reuters) - Thai stocks are expected to
edge down on Tuesday because of domestic political tension
ahead of a big anti-government rally, as well as gloom on
overseas markets due to U.S. financial fears, analysts said.
Thousands of red-shirted protesters, supporters of exiled
Prime Minister Thaksin Shinawatra, plan a big rally on
Wednesday, and Prime Minister Abhisit Vejjajiva has vowed to
take firm measures to prevent bloody confrontation.
[nBKK442810]
"Domestic politics remains the key risk factor for our
market, with investors likely to sell due to fears related to
the big rally on April 8," said Kosin Sripaiboon, head of
research at UOB Kay Hian Securities. "We will also track other
Asian markets lower."
On Monday U.S. bank shares were dragged down after analyst
Mike Mayo of Calyon Securities warned of rising loan losses by
the end of 2010. [ID:nN06322858].
Support on the main index .SETI is expected at 440 and
437 and resistance at 447 and 450, the analysts added.
The Thai market was closed on Monday for a public holiday.
On Friday, it climbed 0.8 percent to 446.04, its highest close
since Feb. 16, cheered by improving U.S. data.
Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0124 GMT
------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 835.48 -0.83% -7.020
USD/JPY 100.74 -0.28% -0.280
10-YR US TSY YLD 2.9168 -- -0.015
SPOT GOLD 874.4 0.64% 5.600
US CRUDE CLc1 51.04 -0.02% -0.010
DOW JONES .DJI 7975.85 -0.52% -41.74
ASIA ADRS .BKAS 95.49 -2.05% -2.00
-------------------------------------------------------------
MARKET SUMMARY > NYMEX-Crude stays above $51/bbl after 2.8 pct
fall [O/R] > US STOCKS-Wall Street rally stumbles as bank
fears reemerge[.N] > FOREX-US dollar rises broadly as U.S.
stocks fall [USD/] > TREASURIES-Bonds fall on concerns
over supply, Fed buying [US/] > PRECIOUS-Gold edges up as
market seen oversold; ETF stead[GOL/]
STOCKS AND FACTORS TO WATCH
- Thailand's economy will contract sharply this year,
largely because of the global recession, and low inflation
gives it room for further interest rate cuts, the International
Monetary Fund said. [nN06419616]
- The global economic crisis and the security threat posed
by North Korea's rocket launch will grab much of the attention
this weekend when Asian leaders gather in Thailand for their
annual summit. [nBKK489993]
- For the Thai press digest click on [PRESS/TH]
- For Thailand's IPO diary click on
- 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=35.37 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)
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January 22, 2010
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