Thailand Stocks: Advanced Info, Central Plaza, Kasikornbank
Stock Chart for Advanced Info Service PCL (ADVANC)
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. lunch break in Bangkok.
The SET Index rose for a fifth day, climbing 1.88, or 0.2 percent, to 1,020.45, set for the highest close since Jan. 20.
Banks: Kasikornbank Pcl (KBANK) , Thailand’s third- largest lender by assets, gained 1.2 percent to 125.5 baht, on course for the highest close since Jan. 17. Tisco Financial Group Pcl (TISCO) climbed 2 percent to 37.5 baht.
Overseas investors are buying shares of Thai banks “on the back of the expected policy rate increase” this afternoon, Kim Eng Securities (Thailand) Pcl, the nation’s biggest stock brokerage, wrote in a note. The Bank of Thailand will lift the one-day bond repurchase rate by a quarter of a percentage point to 2.5 percent today, according to 17 of 20 economists surveyed by Bloomberg. The decision will be announced at 2:30 p.m.
Advanced Info Service Pcl (ADVANC) , Thailand’s biggest mobile phone company, increased 1.8 percent to 84.50 baht, headed for highest close since Jan. 18. Advanced Info won an arbitration ruling against state-run CAT Telecom for compensation over excise tax payments, the company said in a statement. An arbitration panel ruled that Digital Phone Co. Ltd., a subsidiary of Advanced Info, doesn’t need to pay CAT Telecom 3.4 billion baht ($112 million) that it paid in excise taxes from 2003 to 2007, the statement said.
Central Plaza Hotel Pcl (CENTEL) , a hotel operator, rose 1.4 percent to 5.05 baht, poised for the highest close since Dec. 16. Central Plaza expects 2011 revenue to grow 20 percent to 11 billion baht on higher bookings from India, China, Australia and Russia, Thai-language Krungthep Turakij newspaper reported, citing Senior Vice President Ronnachit Mahattanapreut. Ronnachit was not available for comment after a call to his office.
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