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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


S&P 500 1045.41 0.24% 2.530
USD/JPY 90.16 -0.16% -0.140
10-YR US TSY YLD 3.4708 -- 0.002
SPOT GOLD 1081.8 -0.25% -2.700
US CRUDE 79.26 -0.43% -0.330
DOW JONES 9771.91 -0.18% -17.53
ASIA ADRS 120.04 -0.06% -0.07

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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

STOCKS AND FACTORS TO WATCH

  • PTT Exploration and Production

    The company has plugged an oil well in the Timor Sea that had leaked for over two months, creating what environmentalists said was one of Australia's worst-ever spills.

  • Bank of Ayudhya

    The fifth-largest lender, 33 percent owned by a unit of General Electric Co, said it expected 2009 net profit to be better than the 4.9 billion baht ($147 million) it made last year.

  • Thailand's cabinet approved a $1.35 billion foreign borrowing plan for the current fiscal year that started on Oct. 1 for investing in infrastructure projects, a government official said.

  • For the Thai press digest click on

  • For Thailand's IPO diary click on

  • For Thailand's stock exchange news click on

  • For Thailand corporate earnings:

  • For Thailand economic forecast: ($1=33.45 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould)
  • ASIA-PACIFIC STOCK MARKETS: PAN-ASIA........ JAPAN....... S.KOREA... S.E. ASIA....... HONG KONG... TAIWAN.... AUSTRALIA/NZ.... INDIA....... CHINA..... * OTHER MARKETS: WALL STREET .... GOLD ....... CURRENCY.. EUROSTOCKS..... OIL ........ JP BONDS... ADR REPORT ..... LME METALS. US BONDS.. STOCKS NEWS US.. STOCKS NEWS EUROPE * DIARIES & DATA: IPO DIARY & DATA ASIA EARNINGS DIARY U.S. EARNINGS DIARY EUROPEAN DIARY THAILAND DIARY WALL STREET WEEK AHEAD EUROSTOCKS WEEK AHEAD * TOP NEWS: FOR TOP ASIAN COMPANY NEWS, DOUBLE CLICK ON: U.S. COMPANY NEWS EUROPEAN COMPANY NEWS FOREX NEWS GLOBAL ECONOMY NEWS TECHNOLOGY NEWS TELECOMS NEWS MEDIA NEWS BANKING NEWS POLITICS/GENERAL NEWS ASIA MACRO DATA A MULTIMEDIA VERSION OF REUTERS TOP NEWS IS AVAILABLE AT: HTTP://TOPNEWS.SESSION.RSERVICES.COM * LIVE PRICES & DATA: WORLD STOCKS CURRENCY RATES DOW JONES/NASDAQ NIKKEI FTSE 100 DEBT THAI BAHT LME PRICE OVERVIEW KEYWORDS: MARKETS THAILAND/STOCKS (ploy.tenkate@thomsonreuters.com; +662 648 9735; Reuters Messaging: ploy.tenkate.reuters.com@reuters.net)) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)

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