Thai shares set for weak start as foreigners sell

BANGKOK, Nov 4 (Reuters) - Thai stocks are likely to make a weak start on Wednesday, with foreign fund outflows continuing to weigh on the market and a retreat in crude oil in early trade likely to cap any recovery in energy blue chips, analysts said. "I see the market probably having a cautious start, given the easing fund flows we've seen over the past three or four weeks," said Therdsak Taveetheeratham, an analyst with Asia Plus Securities. On Tuesday, the main Thai index lost 1.3 percent to 668.48, at one stage hitting 666.81, its lowest since Sept. 4, with PTT Exploration and Production sliding over 5 percent. Foreign investors sold shares for the ninth straight session, dumping a net 2.88 billion baht ($86.1 million) and thereby reducing their net purchases so far this year to 50.96 billion baht. Therdsak put support on the index at 660 and resistance at 674. Click for cumulative trading value by investor type. ----------------------MARKET SNAPSHOT @ 0157 GMT ------------ INSTRUMENT LAST PCT CHG NET CHG S&P 500 1045.41 0.24% 2.530 USD/JPY 90.16 -0.16% -0.140 10-YR US TSY YLD 3.4708 -- 0.002 SPOT GOLD 1081.8 -0.25% -2.700 US CRUDE 79.26 -0.43% -0.330 DOW JONES 9771.91 -0.18% -17.53 ASIA ADRS 120.04 -0.06% -0.07 ------------------------------------------------------------- MARKET SUMMARY > US STOCKS-S&P 500, Nasdaq end higher on deal news > NYMEX-Crude falls toward $79/bbl after 2 pct gain > FOREX-Dollar consolidates after hitting 1-mth highs > Prices dip as traders prepare for supply, Fed > Gold eases after records hit, ETF inches higher STOCKS AND FACTORS TO WATCH - PTT Exploration and Production The company has plugged an oil well in the Timor Sea that had leaked for over two months, creating what environmentalists said was one of Australia's worst-ever spills. - Bank of Ayudhya The fifth-largest lender, 33 percent owned by a unit of General Electric Co, said it expected 2009 net profit to be better than the 4.9 billion baht ($147 million) it made last year. - Thailand's cabinet approved a $1.35 billion foreign borrowing plan for the current fiscal year that started on Oct. 1 for investing in infrastructure projects, a government official said. - For the Thai press digest click on - For Thailand's IPO diary click on - For Thailand's stock exchange news click on - For Thailand corporate earnings: - For Thailand economic forecast: ($1=33.45 Baht) (Reporting by Ploy Ten Kate; Editing by Alan Raybould) * ASIA-PACIFIC STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E.

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