Reuters: Financial Services and Real Estate: Thailand - Market factors to watch - May 2

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Thailand - Market factors to watch - May 2 May 2nd 2012, 02:31 Tue May 1, 2012 10:31pm EDT BANGKOK, May 2 (Reuters) - Thai stocks are expected to rise on Wednesday, in line with gains elsewhere in Asia, with selective buying amid the quarterly reporting season providing support, brokers said. On Monday, the benchmark SET index climbed 1.4 percent to a 16-year high of 1,228.49 on foreign buying and strong demand for laggard banking stocks. Foreign investors bought 1.2 billion baht ($39.02 million) worth of shares, while retail investors sold shares for 2.8 billion baht ($91.06 million), stock exchange data showed. The stock market was closed on Tuesday for a market holiday. Parin Kitchatornpitak, a senior analyst at KTB Securities (Thailand) forecast strong quarterly earnings to help push the market higher to 1,230 and 1,235 later in the day, with support for the main index at 1,220. "The market may still rise. I think some good foreign buying will probably drive the index above 1,235. Overall, the market will gain support from positive earnings results," he said. Asian shares edged higher and the dollar recovered against the yen on Wednesday after strong U.S. factory activity data eased concern over a loss of momentum in the world's biggest economy. MSCI's broadest index of Asia Pacific shares outside Japan was up 0.59 percent at 0218 GMT. Click for cumulative trading value by investor type. MARKET SUMMARY > Dow hits 4-year high, lifted by ISM factory data > Oil turns higher on strong U.S. factory growth > Yen off highs, China HSBC PMI eyed > Bonds slip on stronger U.S. factory data > Gold off two-week high on upbeat U.S. data STOCKS AND FACTORS TO WATCH: - Big C Supercenter Pcl The hypermarket operator reported an 89 percent rise in January-March net profit to 1.78 billion baht, in part due to higher sales, and with all stores closed due to flooding in the previous quarter having reopened. For the company statement, click - For the Thai press digest click on: - For Thailand's stock exchange news click on: - For Thailand corporate earnings: - For Thailand economic forecast: ASIA-PACIFIC STOCK MARKETS: Pan-Asia...... Japan....... S.Korea... S.E. Asia..... Hong Kong... Taiwan.... Australia/NZ.. India....... China..... * OTHER MARKETS: Wall Street .. Gold ....... Currency.. Eurostocks... Oil ........ JP bonds... ADR Report ... LME metals. US bonds.. Stocks News US Stocks News Europe * DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Thailand diary Wall Street Week Ahead Eurostocks Week Ahead * TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: topnews.session.rservices.com * LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Thai baht LME price overview ($1 = 30.75 baht) (Reporting by Viparat Jantraprap and Wirat Buranakanokthanasarn; Editing by Chris Lewis) Link this Share this Digg this Email Reprints

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