Thailand Stocks: Quality Houses, Sri Trang Agro, Total Access
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of 10:50 a.m. in Bangkok.
The SET Index fell 13.70 points, or 1.3 percent, to 1,063.54, heading for the largest drop since June 8.
Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, declined 1.8 percent to 27.25 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) lost 1.8 percent to 5.6 baht.
Rubber futures on the Tokyo Commodity Exchange sank for a fourth day, touching the lowest level in more than a week, on growing concern that the European sovereign-debt crisis may spread, weakening demand for the commodity used to make tires.
Quality Houses Pcl (QH) , a property developer, slid 2.8 percent to 1.77 baht, set for the steepest decline since June 20. The company had its share-price estimate cut to 2.75 baht from 3.3 baht at Credit Suisse Group AG, which cited lower estimates for profit in 2011 and 2012.
Total Access Communication Pcl (DTAC) , the second- biggest mobile phone company, decreased 1.4 percent to 54.75 baht, set for the lowest close since June 30. Thailand’s commerce ministry may ask the police to pursue a case against Total Access over allegations the company breached foreign- ownership limits, Deputy Commerce Minister Alongkorn Ponlaboot said. Total Access said in the statement it complies with Thai laws and regulations, and hopes the investigation will be transparent and unbiased.
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