Thai stocks seen up on US bailout but lagging Asia

 BANGKOK, Sept 8 (Reuters) - Thai stocks are set to rally on
Monday after falling to a 19-month low last week, helped by
gains on overseas markets after the U.S. government took
control of mortgage giants Fannie Mae and Freddie Mac, analysts
said.

 The rescue pushed Asian stock markets up more than 3
percent in early trade on hopes the package will save the U.S.
housing market and limit further damage to global credit
markets.

 "The index will edge higher after fears of the U.S. credit
crisis ease, but the rise will surely lag other markets as our
political uncertainty is still weighing on sentiment," Tisco
Securities strategist Viwat Techapoonphol said.

 Prime Minister Samak Sundaravej has been under pressure for
three months from a street campaign to oust him and thousands
of anti-government activists have barricaded themselves in his
official compound, refusing to move until he quits.
[ID:nSP226443]

 See [ID:nBKK69595] for TAKE A LOOK - State of emergency of
Thailand.

 Support on the main index .SETI is expected at 650-655
and resistance at 660, analysts said.

 On Friday, the benchmark SET index fell 1.38 percent to
645.80, having hit a near 20-month low of 642.50 in intraday
trade, due mainly to fears of further political unrest.

 Click [TH/TRADING01] for cumulative trading value by
investor type. ----------------------MARKET SNAPSHOT @ 0132 GMT
------------

                 INSTRUMENT   LAST       PCT CHG   NET CHG
S&P 500             .SPX       1242.31      0.44%     5.480
USD/JPY             <JPY=>       108.26      -0.65%    -0.710
10-YR US TSY YLD    <US10YT=RR>  3.8169          --     0.109
SPOT GOLD           <XAU=>       814.65       1.48%    11.850
US CRUDE            CLc1       108.81       2.43%     2.580
DOW JONES           .DJI       11220.96     0.29%     32.73
ASIA ADRS           .BKAS      129.40       0.97%      1.24
-------------------------------------------------------------
MARKET SUMMARY > Oil rises over $2 to top $108 on hurricane
threat    [O/R] > U.S. STOCKS-Futures soar after U.S. takes
over GSEs  [.N] > Yen slides as Freddie, Fannie bailout calms
nerves   [USD/] > US Treasuries slide after takeover of Fannie,
Freddie[US/] > Gold up nearly 2 pct on oil, eyes impact of GSE
steps[GOL/]

 STOCKS AND FACTORS TO WATCH

 - Central Plaza Hotel CENT.BK

 The hotel operator said it was on track to achieve its
16-20 percent revenue growth target for this year despite
political tensions in Bangkok.

 - Seamico Securities ZMIC.BK

 Thailand's Seamico Securities said it would buy a 25
percent stake in a securities firm in Vietnam as part of its
plan to expand overseas. [ID:nBKK190730]

 - Thailand's central bank has no exchange rate target but
would intervene if the baht became very volatile, Deputy
Governor Atchana Waiquamdee said. [ID:nL7526797]

 - For the Thai press digest click on [ID:nBKK320785]

 - 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=34.37 Baht)
 (Reporting by Arada Therdthammakun; Editing by Alan Raybould)