Thailand Stocks: Siam Commercial, Thai Airways, Thai Plastic
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 5.95 points, or 0.5 percent, to 1,121.63, halting an eight-day, 6.1 percent gain.
Siam Commercial Bank Pcl (SCB) , Thailand’s fourth- biggest lender by assets, dropped 2.4 percent to 123.5 baht, the most since June 6. Chairman Vichit Suraphongchai may be selected as Thailand’s finance minister by incoming Prime Minister Yingluck Shinawatra, Post Today reported, without saying where it got the information.
Yingluck denied Vichit had been approached for the job.
Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, climbed 1.8 percent to 29 baht. Global demand for natural rubber may expand 3.8 percent to 11.149 million metric tons in 2011, according to G. Palanivel, Malaysia’s deputy minister of plantation industries and commodities.
Thai Airways International Pcl (THAI) , the country’s largest carrier, declined 3.4 percent to 28.5 baht, the most since July 12. Thai Airways will probably report a net loss of 7.9 billion baht in the three months ended June 30 on “weak operation,” Nalyne Viriyasathien, an analyst at DBS Vickers Securities (Thailand) Co., wrote in a note to clients today.
Rising fuel costs and slowing passenger demand affected the company’s earnings in the second quarter, Raj Tanta-Nanta, Thai Air’s vice-president for investor relations, said by phone, declining to give figures.
Thai Plastic & Chemical Pcl (TPC) , a maker of plastic materials, gained 1.7 percent to 30.25 baht. The company will pay a cash dividend of 0.70 baht a share, it said in a regulatory filing.
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