Thailand Stocks: Ratchaburi, Sri Trang, Somboon, Thai Airways
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
The SET Index fell 19.79, or 1.9 percent, to 1,003.10, its biggest drop since Feb. 10.
Rubber producers: Rubber futures in Tokyo declined for a third day, tumbling to the lowest level in more than four months, after Japan’s strongest earthquake on record damaged car plants and caused electricity shortages, threatening economic recovery.
Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, slid 4.9 percent to 24.5 baht, the lowest close since Oct. 8. Thai Rubber Latex Corporation (Thailand) Pcl (TRUBB TB) declined 4.2 percent to 5.75 baht, the lowest since June 23.
Tourism-related companies and auto-parts makers: The earthquake that struck Japan March 11 may affect Thai automobile production and tourism, Finance Minister Korn Chatikavanij said yesterday.
Thai Airways International Pcl (THAI) , the country’s largest carrier, dropped 4.4 percent to 38.25 baht, the steepest decline since Feb. 22. Airports of Thailand Pcl (AOT) , the biggest airfield operator, dropped 2.1 percent to 34.25 baht, the most since Feb. 9. Somboon Advance Technology Pcl (SAT) fell 5 percent to 21 baht, the lowest close since July 30.
Ratchaburi Electricity Generating Holding Pcl (RATCH) , a power producer, gained 1.3 percent to 38 baht, the most since Jan. 26. Ratchaburi Electricity and a partner signed an agreement to jointly invest in Ratchaburi World Cogeneration Co., it said in a regulatory filing. Ratchaburi Electricity will hold 40 percent of Ratchaburi World, which will build two power plants with a combined generating capacity of 224 megawatts, it said.
Thoresen Thai Agencies Pcl (TTA) , a shipping company for commodity transportation, declined 3.6 percent to 18.7 baht, the largest drop since Jan. 31. The rebound that more than doubled commodity freight costs in two weeks is peaking as idled ships haul anchor and compete for cargoes of iron ore and coal. There were 282 capesizes anchored worldwide March 14, down from 300 Feb. 26, data compiled by Bloomberg show.
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