Weak oil prices, profit worries to hit Thai shares

BANGKOK, Jan 13 (Reuters) - Thai shares are expected to
fall on Tuesday, hurt by continued worries about fourth-quarter
corporate profits and foreign selling, which is likely to curb
investor appetite for the next couple of weeks, dealers said.

Fears over the results of banks .SETB, which start to
report their earnings next week, could also trigger some
selling in the sector, they said.

Adding to the negative tone, a sharp slide in oil prices is
likely to drag down shares in energy companies, which have a
heavy weighting in the benchmark index.

"The market is still going to come off from its recent
rally since the beginning of this year," said Kosin Sripaiboon,
an analyst with UoB KayHian Securities.

"On the one hand, clearly the market is going to take a hit
from lower oil prices, and on the other, there are the profit
warnings from PTT and its group," he said.

Resistance on the main index .SETI was expected at 455
and 457 and support at 445 and 440, Kosin added.

On Monday, the benchmark stock index slid 1.36 percent to
452.80, its lowest since Dec. 30, dragged down by a profit
warning at oil and gas majors PTT PTT.BK and its
subsidiaries.

Foreigners offloaded Thai shares worth a net 684.6 million
baht ($19.6 million) on Monday.

Click [TH/TRADING01] for cumulative trading value by
investor type.
----------------------MARKET SNAPSHOT @ 0210 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 870.26 -2.26% -20.090
USD/JPY JPY= 89.41 0.25% 0.220
10-YR US TSY YLD US10YT=RR 2.3311 -- 0.017
SPOT GOLD XAU= 824.5 0.63% 5.150
US CRUDE CLc1 37.39 -0.53% -0.200
DOW JONES .DJI 8473.97 -1.46% -125.21
ASIA ADRS .BKAS 92.07 -2.61% -2.47
-------------------------------------------------------------
MARKET SUMMARY > UPDATE 6-Oil falls towards $38 as demand
weakens [O/R] > Wall St falls on profit worry, banks and Alcoa
[.N] > Euro extends losses vs dollar on Spain's rating warning
[USD/] > TREASURIES-Bond prices rise as stocks fall [US/]
> Gold hits 1-mth low on firmer dollar, weak demand [GOL/]

STOCKS AND FACTORS TO WATCH

- Thailand's planned 100-120 billion baht ($2.9-3.4
billion) mid-year fiscal budget will be mostly used to
encourage Thais to spend more to boost economic growth, Finance
Minister Korn Chatikavanij said [nBKK64084]

- Thai Prime Minister Abhisit Vejjajiva received a boost
from weekend by-elections, increasing his parliamentary
majority by 11 seats to 48, election officials said
[nBKK412900]

- Total Access Communication DTAC.BK (TACC.SI)

TAC said it had selected Nokia Siemens Networks [NSN.UL]
and China's Huawei Technologies [HWT.UL] to supply gear for a
3G network, a TAC official said [nBKK178307]

- For the Thai press digest click on [ID:nBKK417569]

- 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=34.87 Baht)
(Reporting by Ploy Chitsomboon; Editing by Alan Raybould)