Thailand Stocks: Charoen Pokphand, PTT Exploration, Somboon
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 rose 2.51 points, or 0.2 percent, to 1,079.91. The measure dropped 0.8 percent this week, snapping a three-week winning streak. Thailand’s financial markets will be closed tomorrow for a public holiday.
Poultry producers: Bualuang Securities Pcl cut its rating on Thai poultry industry to “neutral” from “overweight”, saying domestic prices of chicken meat will decline further in the second half.
PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, climbed 1.7 percent to 181 baht, the highest close since May 3. Crude traded near a four- day high in New York as signs of rising demand in the U.S. countered speculation the world’s biggest oil consumer may face a credit-rating downgrade.
Somboon Advance Technology Pcl (SAT) , an auto-parts maker whose customers include Mitsubishi Motors Corp., jumped 6 percent to 26.5 baht, the most since Nov. 24. Mitsubishi Motors is investing 45 billion yen ($569 million) to build a third factory in Thailand that will start producing compact cars in March 2012, Osamu Masuko, the president of Mitsubishi Motors, said in an interview today. The plant will have an annual capacity of 150,000 units a year, he said.
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