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Thailand Stocks: Aapico, Ch. Karnchang, Somboon, Thai Stanley

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 was little changed at 1,105.43.

Auto-parts makers: Somboon Advance Technology Pcl (SAT) and three producers of automobile parts had their ratings lowered to “hold” from “buy” at Kelive Research on expectations that production cutbacks at Toyota Motor Corp. and other automakers in Thailand will hurt earnings. Kelive, part of Kim Eng Securities (Thailand) Pcl, also cut the ratings of Thai Stanley Electric Pcl (STANLY), Thai Steel Cable Pcl (TSC) and Aapico Hitech Pcl. (AH)

Somboon (SAT TB) dropped 2.3 percent to 20.9 baht, the lowest close since July 30. Thai Stanley (STANLY TB) fell 3.4 percent to 158 baht, the lowest close since July 29. Thai Steel (TSC TB) fell 1.9 percent to 10.5 baht. Aapico (AH TB) lost 1.5 percent to 13.3 baht.

Ch. Karnchang Pcl (CK TB), the nation’s second-largest listed construction company, rose 1.7 percent to 8.75 baht, the first increase in four days. Ch. Karnchang expects its gross profit margin to exceed 10 percent this year, up from about 8 percent last year, on increased construction demand, Kao Hoon reported, citing Chief Executive Officer Plew Trivisvavet. The dividend payment this year will be higher than the 0.10 baht a share paid to shareholders last year, the report said. Plew wasn’t available for comment after a call to his office.

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

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