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RTRS: Weak oil prices, profit worries to hit Thai shares
 
Thai shares are expected to fall on Tuesday, hurt by continued worries about fourth-quarter corporate profits and foreign selling, which is likely to curb investor appetite for the next couple of weeks, dealers said. Fears over the results of banks, which start to report their earnings next week, could also trigger some selling in the sector, they said. Adding to the negative tone, a sharp slide in oil prices is likely to drag down shares in energy companies, which have a heavy weighting in the benchmark index. 'The market is still going to come off from its recent rally since the beginning of this year,' said Kosin Sripaiboon, an analyst with UoB KayHian Securities. 'On the one hand, clearly the market is going to take a hit from lower oil prices, and on the other, there are the profit warnings from PTT and its group,' he said. Resistance on the main index was expected at 455 and 457 and support at 445 and 440, Kosin added. On Monday, the benchmark stock index slid 1.36 percent to 452.80, its lowest since Dec. 30, dragged down by a profit warning at oil and gas majors PTT and its subsidiaries. Foreigners offloaded Thai shares worth a net 684.6 million baht ($19.6 million) on Monday. Click for cumulative trading value by investor type. ----------------------MARKET SNAPSHOT @ 0210 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 870.26 -2.26% -20.090 USD/JPY 89.41 0.25% 0.220 10-YR US TSY YLD 2.3311 -- 0.017 SPOT GOLD 824.5 0.63% 5.150 US CRUDE 37.39 -0.53% -0.200 DOW JONES (news) 8473.97 -1.46% -125.21 ASIA ADRS 92.07 -2.61% -2.47 ------------------------------------------------------------- MARKET SUMMARY > UPDATE 6-Oil falls towards $38 as demand weakens > Wall St falls on profit worry, banks and Alcoa > Euro extends losses vs dollar on Spain's rating warning > TREASURIES-Bond prices rise as stocks fall > Gold hits 1-mth low on firmer dollar, weak demand STOCKS AND FACTORS TO WATCH - Thailand's planned 100-120 billion baht ($2.9-3.4 billion) mid-year fiscal budget will be mostly used to encourage Thais to spend more to boost economic growth, Finance Minister Korn Chatikavanij said - Thai Prime Minister Abhisit Vejjajiva received a boost from weekend by-elections, increasing his parliamentary majority by 11 seats to 48, election officials said - Total Access Communication TAC said it had selected Nokia Siemens Networks and China's Huawei Technologies to supply gear for a 3G network, a TAC 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=34.87 Baht) (Reporting by Ploy Chitsomboon; Editing by Alan Raybould) 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........ 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

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