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(AFX UK Focus)
2009-11-04 02:34
Thai shares set for weak start as foreigners sell |
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BANGKOK, Nov 4 (Reuters) - Thai stocks are likely to make a weak start on Wednesday, with foreign fund outflows continuing to weigh on the market and a retreat in crude oil in early trade likely to cap any recovery in energy blue chips, analysts said. "I see the market probably having a cautious start, given the easing fund flows we've seen over the past three or four weeks," said Therdsak Taveetheeratham, an analyst with Asia Plus Securities. On Tuesday, the main Thai index lost 1.3 percent to 668.48, at one stage hitting 666.81, its lowest since Sept. 4, with PTT Exploration and Production sliding over 5 percent. Foreign investors sold shares for the ninth straight session, dumping a net 2.88 billion baht ($86.1 million) and thereby reducing their net purchases so far this year to 50.96 billion baht. Therdsak put support on the index at 660 and resistance at 674. Click for cumulative trading value by investor type. ----------------------MARKET SNAPSHOT @ 0157 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG
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MARKET SUMMARY > US STOCKS-S&P 500, Nasdaq end higher on deal news > NYMEX-Crude falls toward $79/bbl after 2 pct gain > FOREX-Dollar consolidates after hitting 1-mth highs > Prices dip as traders prepare for supply, Fed > Gold eases after records hit, ETF inches higher
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