May 30, 2012 / 2:57 AM / 5 years ago

Thailand - Market factors to watch - May 30

BANGKOK, May 30 (Reuters) - Thai stocks may be rangebound on
Wednesday, with a positive outlook for domestic consumption
bolstering selective buying in shares such as consumer-related
firms and banks but investors are likely to remain wary of the
debt crisis in Europe.	
    The benchmark SET index climbed 1.2 percent to
1,153.66, extending its gain for the fourth consecutive session
after a combined fall of more than 5 percent in the previous
four sessions.	
    The Thai stock market reported $20.4 million in foreign
buying after $398 million outflows of the past seven sessions,
the stock exchange said.	
    Brokers pegged resistance for the main index at 1,164, with
support at 1,140.	
    "The market may still move up on the back of speculative
buying ... but we may see some selling as well. External factors
from U.S. market and Europe are a bit mixed and Asia is pulling
down this morning," said Chai Chirasevenupraphund, a strategist
at Capital Nomura Securities.	
    Asian shares slipped on Wednesday, hurt by fears that
Spain's banking woes will push up the country's borrowing costs
to unsustainable levels although falls were limited on hopes
that Greece would stay in the euro zone and for China stimulus
    MSCI's broadest index of Asia-Pacific shares outside Japan
 was trading down 1.4 percent by 0215 GMT.	
    Click for cumulative trading value by
investor type.	
    MARKET SUMMARY                                       	
> Wall St rises on Greek bets, Facebook falls 10 pct        	
> Oil slips after Spain credit downgrade pressures         	
> Euro languishes near 2-yr low on Spain debt woes        	
> Bond yields fall on Spanish bank fears                   	
> Gold on back foot as Spain woes pressure euro           	
    - PTT Exploration and Production Pcl 	
    Mozambique has approved Bangkok-based PTT Exploration and
Production's $1.9 billion bid for UK-listed Cove Energy, the
companies said on Tuesday, removing the risk Maputo could block
the bid in favour of a lower one from rival Royal Dutch Shell
- For the Thai press digest click on:           	
- For Thailand's stock exchange news click on:    	
- For Thailand corporate earnings:           	
- For Thailand economic forecast:       	
  Pan-Asia......             Japan.......       S.Korea...      
  S.E. Asia.....             Hong Kong...       Taiwan....      
  Australia/NZ..             India.......       China.....      
  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: 
  World Stocks                    Currency rates                
  Dow Jones/NASDAQ                  Nikkei                      
  FTSE 100                          Debt                        
  Thai baht                         LME price overview         
 ($1 = 31.74 baht)	
 (Reporting by Viparat Jantraprap and Wilawan Pongpitak; Editing
by Gopakumar Warrier)

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