BANGKOK, Nov 23 (Reuters) - Thai stocks are expected to trade
in a narrow range on Monday, with investors unsettled by the
prospect of a big anti-government protest this weekend, even
though economic data should show continued growth, analysts said.
Thailand's state planning agency is scheduled to release
third-quarter GDP data and economic forecasts at 0230 GMT, before
the stock market opens.
Eight economists polled by Reuters estimated gross domestic
product grew a median, seasonally adjusted 2.25 percent in the
third quarter from the second, when it grew 2.3 percent following
a 1.8 percent contraction in the first.
Chai Jirasevenupraphund, a strategist with Capital Nomura
Securities, expected the main index to find support at
688 and 685 and resistance at 700 and 705.
The economic data would be expected to support the market,
Chai said, but it would be offset by domestic political worries.
Supporters of former Thai premier Thaksin Shinawatra plan
marches in central Bangkok to push for elections in the first
protracted protest since violent rallies in April.
On Friday, the benchmark SET index fell 0.74 percent to a
one-week closing low of 695.25, weighed down by selling of
big-cap energy stocks and banks.
Click for cumulative trading value by investor
type.
----------------------MARKET SNAPSHOT @ 0048 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1091.38 -0.32% -3.520
USD/JPY 88.93 0.16% 0.140
10-YR US TSY YLD 3.3601 -- -0.009
SPOT GOLD 1160.4 1.06% 12.200
US CRUDE 78.03 0.72% 0.560
DOW JONES 10318.16 -0.14% -14.28
ASIA ADRS 123.12 0.57% 0.70
-------------------------------------------------------------
MARKET SUMMARY
> NYMEX-Oil rises toward $78, Iran tensions supports
> US STOCKS-Wall St dips as investors fret about recovery
> FOREX-Dollar edging as safety sought
> TREASURIES-Most prices slip, but short-term debt in demand
> PRECIOUS-Gold hits record above $1,160 on inflation worry
STOCKS AND FACTORS TO WATCH
Krungthai Card
The top credit card issuer said it planned to raise capital
over the next two years to fund business expansion in the future.
The company failed to raise 7.74 billion baht via a rights issue
in April when major shareholders rejected the plan.
Lanna Resources
Thailand's second-largest coal miner said it expected net
profit to be flat in 2010, held down by rising costs in its
ethanol business, but there would be a big turnaround in 2011.
Thai customs-cleared exports fell in October for the 12th
straight month compared with a year earlier, but the fall of 2.98
percent was the smallest in a year and less than the 5.0 percent
forecast by economists.
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=33.19 Baht)
(Reporting by Arada Kultawanich; Editing by Alan Raybould)
((arada.kultawanich@thomsonreuters.com; +662 648 9732, Reuters
Messaging: arada.kultawanich.reuters.com@reuters.net))
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