Thailand Stocks: Inoue, Kiatnakin, Phatra, PTT Exploration

Shares of the following companies had unusual moves in Thailand trading. (SET) Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index fell 0.7 percent to 1,023.48, snapping a three-day decline.

Inoue Rubber (Thailand) Pcl (IRC) , a tire producer, slipped 4.6 percent to 10.3 baht, the most since Oct. 21. Net income for the year ended Sept. 30 slid 51 percent to 150.4 million baht ($4.8 million).

Kiatnakin Bank Pcl (KK) dropped 3.7 percent to 32.5 baht, extending yesterday’s 8.2 percent slide. Kiatnakin announced on Dec. 9 a plan to merge with Phatra (PHATRA) Capital Pcl through a share swap. Phatra (PHATRA TB), a financial company, lost 7.7 percent to 30 baht after a 5.8 percent decline yesterday.

PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, gained 1.8 percent to 172.5 baht, the highest close since Sept. 1. Oil traded near a one- week high in New York on signs the Organization of Petroleum Exporting Countries may set an output ceiling similar to current levels at its meeting in Vienna today.

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

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