Thai shares set to fall as political worries mount

BANGKOK, Nov 13 (Reuters) - Thai stocks are set to fall
again on Friday as worries mount about the potential for
further political unrest ahead of a big protest at the weekend,
dealers said.

Thailand's fugitive former premier Thaksin Shinawatra is
rallying supporters from just over the border in Cambodia,
upping the ante in the political crisis. The anti-Thaksin
"yellow shirts" are protesting in Bangkok on Sunday.
[ID:nSP128507]

"We expect to see the market extending its falls after
foreigners adjusted their portfolio, unloading over 3 billion
baht yesterday," said Chakkrit Charoenmetachai, an analyst with
Far East Securities.

"Such momentum will probably continue, but at a slower
rate," he said, adding the index could test support at 689. "We
do need to keep an eye on negative factors, including the rally
this Sunday."

On Thursday, the benchmark SET index edged down nearly 3
percent to a six-day low of 696.72, led by sharp losses in PTT
PTT.BK and PTTEP PTTE.BK.

Each fell over 5 percent after equity index provider MSCI
cut its investment weightings for the stocks and Goldman Sachs
slashed their target prices.

True Corp TRUE.BK, Thailand's only integrated telecoms
firm, is likely to post a narrower net loss in the third
quarter due to a slight recovery in revenue and foreign
exchange gains. The results are due after the market close.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0216 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1087.24 -1.03% -11.270
USD/JPY JPY= 90.23 -0.12% -0.110
10-YR US TSY YLD US10YT=RR 3.4364 -- -0.007
SPOT GOLD XAU= 1103 -0.05% -0.600
US CRUDE CLc1 76.52 -0.55% -0.420
DOW JONES .DJI 10197.47 -0.91% -93.79
ASIA ADRS .BKAS 123.99 -1.51% -1.90
-------------------------------------------------------------
MARKET SUMMARY > NYMEX-Crude falls towards $76 as firmer
dollar pressures [O/R] > US STOCKS-Wall St falls on energy
shares, consumer worries[.N] > FOREX-Dlr clings to gains after
bear-market bounce [USD/] > TREASURIES-Prices climb after
30Y note sale, Wall St dip [US/] > PRECIOUS-Gold steadies above
$1,100 after NY record high[GOL/]

STOCKS AND FACTORS TO WATCH

- Delta Electronics (Thailand) DELT.BK

The country's largest electronic part maker in terms of
market value posted a lower-than-expected 24 percent drop in
quarterly earnings to 670 million baht. [ID:nBAK002934]

- Siam City Cement SCCC.BK

The second largest cement maker reported a flat net profit
of 742 million baht in the third quarter. [ID:nBAK002933]

- BEC World BEC.BK

Thailand's largest listed operator of a TV network said its
third quarter net profit rose 2.3 percent thanks to higher
advertising sales, and it was above analysts' forecast.
[ID:nBAK002932]

- Thailand's telecoms regulator said it hoped to hold an
auction for third-generation mobile phone licences in the first
quarter of 2010, but investors sold telecoms shares, worried
about further delays. [ID:nBKK433554]

- Bangchak Petroleum BCP.BK

Thai oil refiner forecast lower 2010 earnings on Thursday
and said it would spend 6.0-7.5 billion baht ($180-226 million)
over the next two years to boost efficiency and invest in
ethanol. [ID:nBKK266122]

- PTT PTT.BK

The country's biggest energy firm forecast higher revenue
and net profit next year on stronger demand and higher oil
prices. [ID:nBKK284254]

- Consumer confidence in Thailand dropped in October for
the first time in five months as Thais worried about high oil
prices, political uncertainty and the suspension of some
activities at a big industrial estate. [ID:nBKK182016]

- For the Thai press digest click on [PRESS/TH]

- 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=33.30 Baht)
(Reporting by Ploy Ten Kate; Editing by Alan Raybould)