Thai Hot Stocks-Index down after Q3 GDP, shipping firms fall

BANGKOK, Nov 23 (Reuters) - Thailand's benchmark stock
index .SETI was down 1.24 percent at a two-week low of 686.64
at 0342 GMT on Monday.

Thailand's economy grew by a weaker-than-expected,
seasonally adjusted 1.3 percent in the third quarter, slowing
slightly from the second quarter but confirming the recovery
from a brief recession early this year. [ID:nBKK245704]

The state planning agency said it expected the economy to
shrink 3.0 percent in 2009 and projected 2010 economic growth
of between 3.0 and 4.0 percent. [ID:nBAK002942] and
[ID:nBAK002945]

Brokers said the GDP forecasts for this year and next were
in line with expectations, but worries about domestic politics
and a court case involving environmental health problems at the
country's top industrial estate would keep investors cautious.

"The lack of a buying catalyst remains the major problem,
amid the uncertainty over Map Ta Phut industrial estate and the
"red-shirt" rally planned for later this week," KGI Securities
said in a research note to clients.

Stocks on the move included:

THORESEN THAI TTA.BK, PRECIOUS SHIPPING PSL.BK DOWN

Falls in the Baltic Dry Index .BADI, which measures the
cost of shipping key commodities, depressed shipping shares,
led by a 4.4 percent drop in Thoresen Thai Agencies TTA.BK,
Thailand's largest dry bulk carrier, to a near-three-week low
of 27.

Precious Shipping PSL.BK eased 1.6 percent to a two-week
low of 18.60 baht, and Regional Container Lines RCL.BK fell
1.85 percent to 10.60 baht.

The Baltic index, which tracks rates to ship commodities,
ended a three-week rally on Friday, falling over 3 percent.
[ID:nLK309340]

0337 GMT

- 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=33.19 Baht)
(Reporting by Arada Kultawanich; Editing by Alan Raybould)
((arada.kultawanich@thomsonreuters.com; +662 648 9732, Reuters
Messaging: arada.kultawanich.reuters.com@reuters.net))
((If you have a query or comment on this story, send an email
to news.feedback.asia@thomsonreuters.com))

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