Thai stocks seen down, PTT, Banks in focus

BANGKOK, July 7 (Reuters) - Thai stocks are expected to
edge lower on Monday, under pressure from high oil prices,
rising inflation and concerns about domestic political
uncertainty, analysts said.

"Optimism about second-quarter earnings could help some
stocks rebound, but our political uncertainties will depress
the mood and push the index lower," KTB Securities strategist
Charoen Iampattanatham said.

On Tuesday, a Thai court will rule in the case against
People Power Party deputy leader Yongyut Tiyapairat, who is
accused of vote buying in the December 2007 election. If found
guilty, the case could eventually lead to the dissolution of
the main party in the coalition government.

Support on the main index .SETI is expected at 728-737
points and resistance at 745-760 points, the analysts said.

On Friday, the benchmark SET index rose 0.12 percent to
743.03 points with thin turnover of 7.7 billion baht, weighed
dwn by high oil prices and rising inflation.

Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0104 GMT
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INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1262.9 0.11% 1.380
USD/JPY <JPY=> 106.81 0.03% 0.030
10-YR US TSY YLD <US10YT=RR> 3.9498 -- -0.037
SPOT GOLD <XAU=> 930.35 -0.21% -1.950
US CRUDE CLc1 143.92 -0.94% -1.370
DOW JONES .DJI 11288.54 0.65% 73.03
ASIA ADRS .BKAS 145.47 0.57% 0.82
-------------------------------------------------------------
MARKET SUMMARY > Oil hovers at $144, Iran sends mixed signals

[O/R] > Wall St Week Ahead: Oil, GE may keep stocks on
bear's turf[.N] > FOREX-Dollar edges up before Bernanke, G8 in
focus [USD/] > TREASURIES-Short maturity debt gains on weak
jobs [US/] > Gold slips on rising dollar, platinum near
1-wk low [GOL/]

STOCKS AND FACTORS TO WATCH

- PTT PCL PTT.BK

Thailand's largest oil and gas firm said it planned to
spend 125 billion baht between 2008 and 2020, of which 61
percent would go to exploring and producing petroleum overseas.
PTT aimed to boost its revenues to $94 billion in 2012 and $176
billion in 2020 from last year's $47 billion.

- Banks .SETB

Non-performing loans at Thai banks are expected to rise in
the second half of this year as surging oil prices and
inflation affect the ability of customers to repay their debts,
the Bank of Thailand said.

- Siam Cement SCC.BK

Thailand's biggest industrial conglomerate, said it planned
to cut petrochemical output by 10 percent this year due to
rising raw material costs. [ID:nBKK60112]

- Total Access Communication PCL DTAC.BK (TACC.SI: Quote, Profile, Research)

Number two mobile phone operator, controlled by Norway's
Telenor (TEL.OL: Quote, Profile, Research), said its chief executive Sigve Brekke would
resign to take on a bigger role in expanding Telenor businesses
in Asia. [ID:nBKK53723]

- For the Thai press digest click on [ID:nBKK110334]

- 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=33.50 Baht)
(Reporting by Arada Therdthammakun; Editing by Darren
Schuettler)