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.

Charoen Pokphand Foods Pcl (CPF) , Thailand’s biggest meat producer, fell 1.7 percent to 28.5 baht, a two-week low. GFPT Pcl (GFPT) lost 1.8 percent to 11 baht.

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.

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

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.