Feb 28--Phillip Securities (Thailand) PCL 
        Distributor - Bisnews AFE 
Market Outlook: Correction likely before rally resumes 
        Some profit taking on regional bourses seems to set a bearish tone for  
the market, while local market-moving factors are largely unchanged and  
political uncertainty remains, but no any potential spillover effect is seen.  
In a big-picture sense, we expect Thai shares to remain range-bound sideways  
today and correction is likely, awaiting fresh positive market-moving news to  
move the market higher. Next week, the market would turn attention to the  
economic stimulus package due to be presented to the cabinet on Mar 4. We  
believe this factor should help underpin the market to a certain extent. Under  
this circumstance, we continue to recommend 'Trading BUY' with earnings and  
dividend play still in focus.   
Resistance: 840-846     Support: 824-820 
Factors affecting the market: 
        +       US stocks ended up 9.36 points on Wednesday. Earlier in the  
morning session, the broader market rose on news that US regulators allowed  
Fannie Mae and Freddie Mac to invest more in the mortgage market, but a rally  
fizzled, as investor concern grew over rising loan defaults and seizures.  
        +       Japanese investment in Thailand has jumped 14.5% YoY, as this  
year's economic outlook paints a brighter picture than last year on clearer  
political direction, according to Kasikorn Research Center. 
        -       NYMEX crude oil futures fell US$1.24 after a report showed a  
rise in crude and gasoline inventories. 
        0       The Bank of Thailand held its policy rate steady at 3.25% at its  
yesterday's meeting, as the central bank was confident about continued  
economic growth prospects for this year, including a pickup in consumption and  
investment, despite concerns over accelerating inflation. 
        0       Thailand's finance minister has speeded up efforts to set up a  
committee to develop the Thai capital market and boost market capitalization  
to 140% of GDP in line with its regional peers. On the other hand, the  
Commerce Ministry held talks with trade representatives and revised its 2008  
exports growth target upward to 15% from 10-12.5%.           
NOTE:  
(+) Positive          (-) Negative          (0) May or May not affect SET 
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The information contained herein is based on sources which Phillip Securities  
(Thailand) believes reliable.We do not guarantee its accuracy or completeness.Opinions and estimates expressed herein are subject to change without notice.  
This report is for information only and should not be construed as an offer  
or solicitation for the purchase or sale of any securities referred to herein.  
We accept no liability for any loss, direct or indirect, from the use of this  
document. The directors and/or employees of Phillip Securities and or its  
associates may have an interest in the securities mentioned herein.--End--