Breaking News

Bayer to Focus Only on Life Sciences, Float MaterialScience
Tweet TWEET

Thailand Stocks: Kasikornbank, Sri Trang, Thanachart, Tisco

Thailand’s SET Index fell 4.64 or 0.5 percent, to 1,013.39 at the 4:30 p.m. close, completing a three-day, 3.6 percent slide.

Banks: The Bank of Thailand will probably increase borrowing costs tomorrow for the fourth time in seven months as rising wages and oil prices threaten to stoke inflation, economists surveyed by Bloomberg News said.

The central bank will raise its benchmark one-day bond repurchase rate by a quarter of a percentage point to 2.25 percent at its meeting tomorrow, according to 18 of 21 economists surveyed by Bloomberg.

Kasikornbank Pcl (KBANK TB), Thailand’s third-biggest lender by assets, fell 2.4 percent to 123.5 baht, the lowest close since Dec. 21. Thanachart Capital Pcl (TCAP TB), a financial company, declined 2.8 percent to 34.5 baht, its lowest level since Sept. 7. Siam Commercial Bank Pcl (SCB TB) lost 1.8 percent to 97.75 baht.

Sri Trang Agro-Industry Pcl (STA TB), the largest publicly traded rubber producer, jumped 3.3 percent to 39.25 baht, a record close. The cash price of rubber in Thailand gained to 162.80 baht ($5.30) per kilogram today, an all-time high, according to the Rubber Research Institute of Thailand.

Tisco Financial Group Pcl (TISCO TB), a financial company, rose 1.4 percent to 37 baht, snapping a five-day, 10 percent slide. The company reported a 45 percent increase in net income for the year ended Dec. 31 to 2.89 billion baht ($94.4 million), or 3.97 baht a share.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.