Thai Hot Stocks - Seen falling, oil firms eyed Thu Mar 13, 2008 1:47am GMT
BANGKOK, March 13 (Reuters) - Thai stocks were expected to fall on Thursday following Wall Street's drop despite record oil prices boosting buying of energy shares, dealers said. Support on the main index .SETI should be at 820 points and resistance at 835 points, Asia Plus Securities Therdsak said. On Wednesday, the index ended up 0.87 percent at 827 points, buoyed by buying of top oil and gas firm PTT PCL PTT.BK, which rose 2.4 percent. Foreign investors bought a net 1.33 billion baht ($42 million) of Thai shares, reducing their net selling to 8.9 billion baht so far this year. Last year, they bought shares worth a net 55 billion baht. Stocks and factors to watch: - Energy firms .SETEN should be in focus after oil pierced $110 a barrel on Wednesday, the sixth straight day of record highs, as the dollar sank to new lows and outweighed large increases in U.S. crude stocks. See [ID:nSP281350] for details - The National Energy Board approved a plan to revive diesel subsidies for six months, which could rein in retail prices, in an effort to tackle inflation running at a 20-month high.
