BANGKOK, March 24 (Reuters) - Thai stocks were expected to
open higher on Monday with banking and property stocks in focus
ahead of the expected approval of an economic stimulus package on
Tuesday, dealers said.
Resistance on the main index <.SETI> was seen at 808-817
points and support at 785 points, they said.
On Friday, the index rose 0.65 percent to 803.32 points,
snapping a two-day losing streak, as lower crude oil prices eased
concerns about rising inflation.
However, foreign investors sold a net 366 million baht ($12
million) of Thai shares, with net sales so far this year rising
to 17.5 billion baht. Foreigners bought a net 55 billion baht of
Thai stocks last year.
Stocks and factors to watch:
- Telecom firms <.SETIC> should be in focus after the
Information and Communications Minister Mun Patanotai said he
expected third generation (3G) mobile broadband services to start
in six to 12 months.
- Capital inflows to Thailand remained small thanks to tight
global financial markets, after the central bank replaced capital
controls with less draconian measures, a senior Bank of Thailand
(BOT) official said on Sunday.
Click on [ID:nBKK3258] for details
- Southeast Asian central banks expect strong domestic demand
and regional trade to help mitigate the impact of lower global
growth, the banks said in a statement following a two-day meeting
in Jakarta.
Click on [ID:nJAK7173] for details
- Oil fell more than $1 to less than $101 a barrel in early
trade due to profit taking after OPEC's chief said he expected
steady oil prices for the rest of 2008. [ID:nT270998]
U.S. light crude <CLc1> was down $1.11 at $100.73 a barrel at
0134 GMT.
- Most Asian stocks were higher in early trade due to the
OPEC oil price outlook, with Japan's Nikkei <.N225> up 0.52
percent at 0139 GMT, South Korea's KOSPI <.KS11> rising 0.77
percent and Singapore's Straits Time <.FTSTI> 2.27 percent
higher.
- For the Thai press digest click on [ID:nBKK312858]
- 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=31.30 Baht)
(Reporting by Arada Therdthammakun; Editing by Darren
Schuettler)
(([email protected]; +662 648 9732, Reuters
Messaging: [email protected]))
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