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Recent Member Diaries

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Thai Hot Stocks - Market seen down, TMB, IRPC eyed

 BANGKOK, Nov 8 (Reuters) - Thai stocks were expected to drop on Thursday following Wall Street's tumble because of renewed worries about the global credit market, analysts said.

Resistance on the main index (.SETI: Quote, Profile, Research) was expected at 890 points and support at 860 points, Asia Plus Securities strategist Puwadol Lapudomsuk said.

On Wednesday, the index fell 0.68 percent to 880.27 points, led by profit-taking on energy shares (.SETEN: Quote, Profile, Research) such as top oil and gas firm PTT (PTT.BK: Quote, Profile, Research) and PTT Exploration & Production (PTTE.BK: Quote, Profile, Research).

Foreign investors bought shares worth a net 1.03 billion baht ($30.3 million) after three days of net selling, raising their net purchases to 99.2 billion baht this year.

Stocks and factors to watch:

By Rajesh Kumar, Section Business
Posted on Wed Nov 07, 2007 at 06:50:40 PM EST
 TMB Bank PCL (TMB.BK: Quote, Profile, Research) would be in the spotlight after ING financial group ING (ING.AS: Quote, Profile, Research) said it would buy a 30 percent stake in Thailand's sixth largest lender for about $675 million.

TMB shares were suspended trading on Wednesday. They last closed at 1.58 baht.

See [ID:nSIN241242] for full story

- IRPC PCL (IRPC.BK: Quote, Profile, Research), Southeast Asia's largest petrochemical complex, was likely to report a strong quarterly net profit after rising oil prices boosted petrochemical prices and refining margins.

 - Seamico Securities (ZMIC.BK: Quote, Profile, Research) said it was talking to five or six brokerages on a merger deal and planned to be a top 10 broker in Thailand over the next 12-18 months.

- Banpu PCL (BANP.BK: Quote, Profile, Research), Thailand's largest coal miner, said it expected lower fourth-quarter revenues and net profit than in the third quarter due to a planned maintenance shutdown.

See [ID:nBKK6489] for full story

- Ratchaburi Electricity Generating Holding PCL (RATC.BK: Quote, Profile, Research) said its fourth-quarter revenues and net profit should be higher than the third quarter and a year earlier as only one unit planned a shutdown.

See [ID:nBKK257534] for full story

- U.S. stocks tumbled on Wednesday as a probe of the home loan industry by New York's attorney general drew in the country's biggest mortgage finance companies and Washington Mutual Inc (WM.N: Quote, Profile, Research) said the housing downturn would extend well into next year.

See [ID:nN07589864] for full story

  • Asian shares were lower in early trade with Tokyo's Nikkei (.N225: Quote, Profile, Research) down 1.9 percent at 0130 GMT, Singapore's Strait Times (.STI: Quote, Profile, Research) down 0.27 percent and South Korea's KOSPI (.KS11: Quote, Profile, Research) 1.54 percent lower.

  • For the Thai press digest click on [ID:nBKK16503]

 - 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=33.95 Baht)

http://uk.reuters.com/article/oilRpt/idUKBKK294820071108?pageNumber=3
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