Wall St to drag on Thai shares, foreigners selling

BANGKOK, April 23 (Reuters) - Thai stocks could track Wall
Street lower on Thursday on concerns about the financial
sector, with continued foreign outflows likely to depress the
market, dealers said.

The Dow and S&P fell as fears that government stress tests
would reveal weakness in banks and the wider economy.

"I see the market coming down, with the support level at
460 and then 453. Today's factor will be a drop on Wall Street
on concerns that U.S. government stress tests will undermine
confidence in banks," said Chakkrit Charoenmethachai, a senior
analyst with Far East Securities.

"Fund flows could continue to drag the market down as we
see profit-taking in this region," Chakkrit added, expecting
resistance at 470 if the market did manage to rise.

On Wednesday, the benchmark SET ended down 1.24 percent at
460.62, ending a four-day rise, weighed down by energy
heavyweights and top banks, with foreigners selling a net 151.3
million baht ($4.3 million) of shares.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0206 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 843.55 -0.77% -6.530
USD/JPY JPY= 97.82 -0.14% -0.140
10-YR US TSY YLD US10YT=RR 2.9304 -- -0.011
SPOT GOLD XAU= 891.7 0.29% 2.550
US CRUDE CLc1 48.5 -0.72% -0.350
DOW JONES .DJI 7886.57 -1.04% -82.99
ASIA ADRS .BKAS 96.93 -0.76% -0.74
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 9-Oil rises,stock market outweighs
inventory builds[O/R] > Dow and S&P drop on bank worries, Apple
jumps late [.N] > FOREX-Yen gains on export data, dollar
dips vs euro [USD/] > TREASURIES-Bonds slip as home data,
supply fears curb bid [US/] > PRECIOUS-Gold rises on higher
physical demand, PGMs rise [GOL/]

STOCKS AND FACTORS TO WATCH

- The Thai economy could shrink as much as 3.5 percent this
year, the worst performance since 1998, because of the global
economic crisis and political turmoil at home, the Bank of
Thailand said. [nBKK429052]

- Thailand's plan to auction new licences for
third-generation mobile phone services may be delayed from this
year if its political crisis drags on, the industry regulator
said. [nBKK469236]

- Tongkah Harbour PCL THL.BK

The second-biggest gold miner expects to complete the
purchase of a tin mine in Indonesia by the middle of this year
as it extends capacity, its managing director said.
[nBKK403269]

- Phatra PCL PHAT.BK

Stockbroker Phatra said a drop of over 50 percent in daily
share trading volume and dwindling foreign interest would
weaken its business in 2009 and first-quarter profit was
certain to be lower. [nBKK457529]

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- 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=35.55 Baht)
(Reporting by Ploy Chitsomboon; Editing by Alan Raybould)