Thai stocks may fall as politics, 2earnings weigh

BANGKOK, Nov 11 (Reuters) - Thai shares are set for a
weaker start on Wednesday, with simmering political tensions
likely to weigh on sentiment and softer corporate earnings
prompting caution in some shares, analysts said.

Former Thai Prime Minister Thaksin Shinawatra, wanted at
home for a graft conviction, arrived in Cambodia to take up a
government job offer, firing up a diplomatic row with Bangkok
that could worsen Thailand's political crisis. [ID:nBKK476294]

"With this political factor coming back, undeniably it will
increasingly add concerns to the market mood, and I think we're
going to see the market coming down today," said Sukit
Udomsirikul, a strategist at Siam City Securities.

PTT PTT.BK, Asia-Pacific's No.3 listed oil and gas firm
by market value behind PetroChina (0857.HK) and Sinopec
(0386.HK), posted a 5 percent drop in quarterly net profit,
dented by lower earnings from exploration and refining.
[ID:nBKK232793]

"There should be some profit-taking activities of some
shares after their earnings result announcement as well," Sukit
said, seeing resistance on the Thai main index .SETI at 715
and support at 690.

On Tuesday, the benchmark SET index edged down 0.7 percent
at 708.20 after touching a near-two-week high a day earlier,
with energy and building material counters leading the market
drop.

Foreign investors bought a net 824.06 million baht ($24.7
million) of Thai shares. Click [TH/TRADING01] for cumulative
trading value by investor type.
----------------------MARKET SNAPSHOT @ 0151 GMT ------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 .SPX 1093.01 -0.01% -0.070
USD/JPY JPY= 89.54 -0.3% -0.270
10-YR US TSY YLD US10YT=RR 3.4781 -- 0.000
SPOT GOLD XAU= 1106.05 0.07% 0.750
US CRUDE CLc1 79.07 0.03% 0.010
DOW JONES .DJI 10246.97 0.20% 20.03
ASIA ADRS .BKAS 124.70 -0.72% -0.91
-------------------------------------------------------------
MARKET SUMMARY > NYMEX-Crude stays close to $79 on stock rise,
dollar fall [O/R] > US STOCKS-Wall St rally stalls but Dow ekes
out gain [.N] > FOREX-Dlr consolidates, high-yielders
await Chinese data [USD/] > TREASURIES-Prices steady after 10Y
note sale [US/] > PRECIOUS-Gold steady, remains
near record high [GOL/]

STOCKS AND FACTORS TO WATCH

- PTT Chemical PCL PTTC.BK

Thailand's largest olefins maker reported a 43 percent fall
in third-quarter net profit due mainly to a drop in product
spreads from a year earlier. [ID:nBAK002928]

- Thailand and Peru will sign a free trade agreement on the
sidelines of a regional trade summit in Singapore, and expect
the pact to double their bilateral trade from 2010, a senior
Thai official said. [ID:nSIN350296]

- Glow Energy GLOW.BK

Thailand's third-largest private power producer reported a
flat quarterly profit, but it was better than market
expectations. [ID:nBAK002927]

- Thai Airways International THAI.BK

National carrier plans to lease or buy 11 new passenger
planes in 2010-2014 to renew its ageing fleet, an executive
said. [ID:nBKK490586]

- Banpu BANP.BK

The country's top coal miner said its third-quarter net
earnings rose a higher-than-expected 22 percent, helped by
higher coal sale volume from Indonesia mines and gains from
coal swap.

- Land & Houses LH.BK

Thailand's biggest house builder posted a
better-than-expected 35 percent rise in quarterly earnings
after its home sales surged as consumer confidence improved.
[ID:nBKK34016]

- Electricity Generating EGCO.BK

The second-largest private power producer reported a flat
net earnings of 2.01 billion baht in the third quarter, but it
was higher than analyst forecast. [ID:nBAK002924]

- Thailand's cabinet agreed that the country should
contribute $14 million to an Asian credit guarantee and
investment mechanism under the Asian Bond Market Initiative
(ABMI), a deputy government spokesman said. [ID:nBKK482769]

- Charoen Pokphand Foods CPF.BK

The country's largest chicken exporter said its 2009 net
profit could hit a record high of 10 billion baht ($300.6
million) due to strong exports and growing foreign business.
[ID:nBKK480818]

- Precious Shipping PSL.BK

Thailand's biggest dry bulk shipper said weak demand and
global oversupply would make it miss its freight rate revenue
target but opened up opportunities to buy more ships.
[ID:nBKK479424]

- 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 xx)