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Thailand Stocks: Bangkok Bank, Kasikornbank, PTT Exploration

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 11.41 points, or 1.1 percent, to 1,034.75, the lowest since March 28.

Large companies: Bangkok Bank Pcl (BBL) , Thailand’s biggest commercial lender, decreased 2.3 percent to 152 baht, the lowest close since Feb. 24. PTT Exploration & Production Pcl (PTTEP) , the second-biggest company by market value, dropped 2 percent to 170.5 baht. Kasikornbank Pcl (KBANK) fell 3.4 percent to 113.5 baht. The shares dropped after Goldman Sachs Group Inc. lowered its rating on Thai equities, citing uncertainty surrounding the July 3 election, sensitivity to oil prices and a lack of “top-down direction”.

Thai Industrial & Engineering Service Pcl (TIES) , a construction company, jumped 6.1 percent to 0.52 baht, the highest close since Jan. 5. Thai Industrial won a factory construction contract worth 155 million baht ($5.1 million), it said in a regulatory filing.

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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