Thailand Stocks: Big C Supercenter, Land & Houses, Sri Trang
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 for a third day, declining 3.1 percent to 909.10, the largest drop since Oct. 3.
Property developers: KGI Securities (Thailand) Pcl downgraded Thai residential property to “underweight” from “overweight” to reflect the impact of the global economic slowdown and prolonged flooding.
Land & Houses Pcl (LH TB), Thailand’s biggest home builder by market value, slumped 9.5 percent to 5.25 baht, the steepest decline since Dec. 1, 2008. Asian Property Development Pcl (AP) slipped 8.6 percent to 4.28 baht, the lowest close since June 25, 2010. Sansiri Pcl (SIRI) lost 5.5 percent to 1.04 baht.
Rubber producers: Rubber in Tokyo plunged to a 14-month low as a French-German split emerged over Europe’s rescue strategy, deepening concern the region may fail to contain debt crisis, hurting demand for raw materials.
Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, fell 5.7 percent to 16.60 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) declined 1.3 percent to 2.98 baht.
Big C Supercenter Pcl (BIGC) , an operator of hypermarket stores, slid 13 percent to 99.75 baht, the largest drop since February 2000. The company plans to raise as much as 25 billion baht ($807 million) in a rights offering, it said in a statement
To contact the reporter on this story: Anuchit Nguyen in Bangkok at email@example.com
To contact the editor responsible for this story: Darren Boey at firstname.lastname@example.org