BANGKOK, Nov 1 (Reuters) - The Thai stock market was likely
rise again, tugged along by markets overseas on Thursday after
the U.S. Federal Reserve cut interest rates and another oil price
surge which should prompt buying of energy shares <.SETEN>.
"The sentiment will be relatively strong, boosted by two core
factors," Thanachart Securities analyst Saengtham Jaranachaikul
said.
"One is the Fed rate cut to 4.50 percent and two is the rise
of crude oil prices which should spur buying in energy stocks."
Resistance on the main index <.SETI> should be at 918-920
points and support at 900 points, Saengtham said.
On Wednesday, the index rose 0.07 percent to 907.28 points as
investors bought up banks <.SETB> and financial <.SETF> stocks
after strong economic data reversed early falls.
Foreign investors sold Thai shares worth a net 154.6 million
baht ($4.6 million) after three days of buying, reducing their
net buying to 108.9 billion baht so far this year.
Stocks and factors to watch:
- Investors were likely to monitor the Commerce Ministry's
October Consumer Price Index announcement due at 0200 GMT.
- Thailand's exports grew a more than expected annual 12.6
percent in September and lower import growth left the trade
surplus at a six-month high, central bank data showed.
See [ID:nBKK91971] for full story
- Kim Eng Securities <KEST.BK>, Thailand's largest broker,
reported a 104 percent rise in third-quarter net profit, below
analyst forecasts, due to higher daily trade and a rising market
share.
See [ID:nBKK197177] for full story
- Advanced Info Service PCL <ADVA.BK>, Thailand's top mobile
phone firm, said it expected core earnings to grow in 2008 after
drops since 2005 due to rising tariffs and strong data services.
See [ID:nBKK113717] for full story
- Oil struck a new record close to $96 a barrel on Thursday,
spurred by an unexpectedly sharp fall in U.S. crude stocks that
raised concerns about a supply shortfall in the northern
hemisphere winter.
See [ID:nSYD170956] for full story
U.S. light crude for December delivery <CLc1> was up 71 cents
at $95.24 a barrel by 0143 GMT.
- Asian markets were higher in early trade after U.S. stocks
rose on Wednesday, buoyed by both the Federal Reserve's interest
rate cut, its view that credit market strains had eased somewhat
and by reports showing surprising employment.
See [ID:nN31347478] for full story
Tokyo's Nikkei <.N225> was up 0.68 percent at 0138 GMT,
Singapore stocks <.STI> up 0.76 percent and Taiwan shares <.TWII>
0.33 percent higher.
- For the Thai press digest click on [ID:nBKK67213]
- For Thailand's IPO diary click on <TH/IPOMENU>
- 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=33.9 Baht)
((Reporting by Ploy Chitsomboon, editing by MIchael Battye;
Reuters Messaging: [email protected]; +662
648 9735))
FINDING REUTERS DATA - For details about the shareholders and
institutional investors in a listed company, Reuters 3000 Xtra
users can right-click on any RIC in a story and select "Related
Company Data".
On the "Company Views" page that pops up, move your cursor
over the "Ownership" tab and select either Insider, Institutional
or Mutual Funds.
For Insiders, the pages indicate the number of shares held
and well as the percentage of total shares held as well as market
value and last update.
For Institutional Investors and Mutual Funds, the page also
indicates what percentage of the fund's assets are invested in
the stock.
To export the data to Excel, click on the Excel link at the
top left.
* ASIA-PACIFIC STOCK MARKETS:
Pan-Asia........[STXNEWS/AS] Japan.......[.T] S.Korea...[.KS]
S.E. Asia.......[.SO] Hong Kong...[.HK] Taiwan....[.TW]
Australia/NZ....[.AX] India.......[.BO] China.....[.SS]
* OTHER MARKETS:
Wall Street ....[.N] Gold .......[GOL/] Currency..[FRX/]
Eurostocks.....[.EU] Oil ........[O/R] JP bonds...[JP/]
ADR Report .....[ADR/] LME metals.[MET/L] US bonds.. [US/]
Stocks News US..[STXNEWS/US] Stocks News Europe [STXNEWS/EU]
* DIARIES & DATA:
IPO diary & data <TH/IPOMENU> Asia earnings diary [ASIA/EQTY]
U.S. earnings diary [RESF/US] European diary [WEU/EQTY]
Thailand diary [TH/DIARY] Wall Street Week Ahead [.N/O]
Eurostocks Week Ahead [.EU/O]
* TOP NEWS:
For top Asian company news, double click on: [nTOPEQA]
U.S. company news [TOP/EQU] European company news [TOP/EQE]
Forex news [TOP/FRX] Global Economy news [TOP/MACRO]
Technology news [TOP/TECH] Telecoms news [TOP/TELCO]
Media news [TOP/MEDIA] Banking news [TOP/FIN]
Politics/General news [TOP/G] Asia Macro data <ASIATODAY>
A multimedia version of Reuters Top News is available at:
http://topnews.session.rservices.com
* LIVE PRICES & DATA:
World Stocks <0#.INDEX> Currency rates <EFX=> <NFX=>
Dow Jones/NASDAQ <.DJI> <.IXIC> Nikkei <.N225>
FTSE 100 <.FTSE> Debt <0#USBMK=> <EURIBOR>
Thai baht <THB=> LME price overview <RING=>
($1=31.60 Baht)
Keywords: MARKETS THAILAND/STOCKS