Thailand Stocks: Asia Plus, Sri Trang, Thai Rubber, TMB Bank
The SET Index (SET) dropped 0.2 percent to 1,074.71, halting a two-day advance.
Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest rubber producer, fell 2.8 percent to 20.7 baht, the most since Dec. 14. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) declined 2.6 percent to 4.48 baht.
Rubber futures lost 1.9 percent to settle at 310.3 yen a kilogram ($4,047 a metric ton) on the Tokyo Commodity Exchange.
Asia Plus Securities Pcl (ASP) , a stock brokerage, lost 3.9 percent to 2.5 baht, the biggest drop since Dec. 13. Net income in 2011 declined 33 percent to 505.3 million baht ($16.3 million).
TMB Bank Pcl (TMB) climbed 1.2 percent to 1.65 baht, the highest close since Dec. 22. Industrial & Commercial Bank of China Ltd. may bid for the Thai government’s 26.1 percent stake in TMB Bank, Kao Hoon reported, without saying where it got the information. ICBC may compete with Korea Development Bank for the stake, the Thai-language newspaper reported.
Somchai Sujjapongse, spokesman for the Thai Finance Ministry, didn’t immediately respond to a voice-mail message on his mobile phone. Wang Zhenning, a Beijing-based press officer at ICBC, declined to comment.
Thai Cane Paper Pcl (TCP) , a paper producer, jumped 6.3 percent to 17 baht. Profit in 2011 rose 5.2 percent to 313.9 million baht and the company will pay a dividend of 0.60 baht per share, it said in a regulatory filing.
To contact the reporter on this story: Anuchit Nguyen in Bangkok at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com