BANGKOK, March 15 (Reuters) - The Thai stock stock market
should trade nervously on Monday because of anti-government
protests and recent strong buying by foreigners might dry up as
investors watch to see how the situation plays out, analysts
said.
Thousands of anti-government protesters started to move on Monday towards a military base in Bangkok where Prime Minister Abhisit Vejjajiva has his crisis headquarters, putting pressure on him to call fresh elections.
As elsewhere in Southeast Asia, foreign funds have been flowing into Bangkok's stock market, to the tune of $812 million over the past three weeks, despite the political tension.
Kosin Sripaiboon, an analyst at UOB Kay Hian Securities, said that might slow on Monday and the market could edge down.
'No one really knows how this is going to end,' he said. 'Foreign inflows should slow as they gauge the situation. If all this fizzles out by midweek, we should see the flows pouring back in again.'
Some analysts said the underlying tone was firm.
'The SET index may not break resistance of 735 or 737. We may see the market opening up but will not pass those levels because of profit taking,' said Therdsak Taveeteeratham, a senior analyst at Asia Plus Securities.
On Friday the index rose 1.02 percent to 733.34 as investors bought banking shares, with Bangkok Bank up 2.9 percent and Kasikornbank up 1.7 percent.
Foreign investors were net buyers of Thai shares for the 14th consecutive session, buying a net 476 million baht ($14.62 million).
Click for cumulative trading value by investor type. ----------------------MARKET SNAPSHOT @ 0204 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1149.99 -0.02% -0.250 USD/JPY 90.66 0.01% 0.010
10-YR US TSY YLD 3.7063 -
0.004 SPOT GOLD 1103.7 0.38% 4.200 US CRUDE 80.82 -0.52% -0.420 DOW JONES 10624.69 0.12% 12.85 ASIA ADRS 131.47 0.01% 0.01
MARKET SUMMARY >Wall Street ends flat after mixed data >Oil slips below $81 on renewed demand concerns >Yen subdued as BOJ mulls tweak, euro holds gains >Long-dated debt climbs on mixed economic signals >Gold off two-week lows but weaker dollar pressures
STOCKS AND FACTORS TO WATCH
- TMB Bank
The 30 percent owned unit of Dutch lender ING Group said on Saturday it planned to sell 10-year bonds worth up to 8 billion baht later this month.
- Thai Airways International PCL
The national carrier said on Friday it planned to sell up to 1 billion new shares to the public and shareholders, including the Finance Ministry, in an offer worth roughly $720 million at the current market price.
- Cal-Comp Electronics (Thailand)
The company said it had agreed to buy a 53.08 percent stake at S$0.10 each in Singapore's Avaplas for about S$13.25 million and planned to buy the remaining stake from the market.
The transaction is expected to be completed in the second quarter, it said.
Avaplas makes injection-molded plastic precision parts.
- For Thai/Myanmar/Indochina top news click
- For Thailand's IPO diary click on
- For Thailand's stock exchange news click on
- For Thailand corporate earnings:
- For Thailand economic forecast:
($1=32.55 Baht)
(Writing by Viparat Jantraprap; Editing by Alan Raybould)
((viparat.jantraprapaweth@thomsonreuters.com; +66 2 648 9733; Reuters Messaging: viparat.jantraprapaweth.thomsonreuters.com@reuters.net)) * 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/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Thousands of anti-government protesters started to move on Monday towards a military base in Bangkok where Prime Minister Abhisit Vejjajiva has his crisis headquarters, putting pressure on him to call fresh elections.
As elsewhere in Southeast Asia, foreign funds have been flowing into Bangkok's stock market, to the tune of $812 million over the past three weeks, despite the political tension.
Kosin Sripaiboon, an analyst at UOB Kay Hian Securities, said that might slow on Monday and the market could edge down.
'No one really knows how this is going to end,' he said. 'Foreign inflows should slow as they gauge the situation. If all this fizzles out by midweek, we should see the flows pouring back in again.'
Some analysts said the underlying tone was firm.
'The SET index may not break resistance of 735 or 737. We may see the market opening up but will not pass those levels because of profit taking,' said Therdsak Taveeteeratham, a senior analyst at Asia Plus Securities.
On Friday the index rose 1.02 percent to 733.34 as investors bought banking shares, with Bangkok Bank up 2.9 percent and Kasikornbank up 1.7 percent.
Foreign investors were net buyers of Thai shares for the 14th consecutive session, buying a net 476 million baht ($14.62 million).
Click for cumulative trading value by investor type. ----------------------MARKET SNAPSHOT @ 0204 GMT ------------
INSTRUMENT LAST PCT CHG NET CHG S&P 500 1149.99 -0.02% -0.250 USD/JPY 90.66 0.01% 0.010
10-YR US TSY YLD 3.7063 -
0.004 SPOT GOLD 1103.7 0.38% 4.200 US CRUDE 80.82 -0.52% -0.420 DOW JONES 10624.69 0.12% 12.85 ASIA ADRS 131.47 0.01% 0.01
MARKET SUMMARY >Wall Street ends flat after mixed data >Oil slips below $81 on renewed demand concerns >Yen subdued as BOJ mulls tweak, euro holds gains >Long-dated debt climbs on mixed economic signals >Gold off two-week lows but weaker dollar pressures
STOCKS AND FACTORS TO WATCH
- TMB Bank
The 30 percent owned unit of Dutch lender ING Group said on Saturday it planned to sell 10-year bonds worth up to 8 billion baht later this month.
- Thai Airways International PCL
The national carrier said on Friday it planned to sell up to 1 billion new shares to the public and shareholders, including the Finance Ministry, in an offer worth roughly $720 million at the current market price.
- Cal-Comp Electronics (Thailand)
The company said it had agreed to buy a 53.08 percent stake at S$0.10 each in Singapore's Avaplas for about S$13.25 million and planned to buy the remaining stake from the market.
The transaction is expected to be completed in the second quarter, it said.
Avaplas makes injection-molded plastic precision parts.
- For Thai/Myanmar/Indochina top news click
- For Thailand's IPO diary click on
- For Thailand's stock exchange news click on
- For Thailand corporate earnings:
- For Thailand economic forecast:
($1=32.55 Baht)
(Writing by Viparat Jantraprap; Editing by Alan Raybould)
((viparat.jantraprapaweth@thomsonreuters.com; +66 2 648 9733; Reuters Messaging: viparat.jantraprapaweth.thomsonreuters.com@reuters.net)) * 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/ (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
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