Thailand Stocks: Hana, Thai Air, Thai Reinsurance, Thai Stanley

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok. The SET Index (SET) fell for a second day, dropping 1.7 percent to 1,135.16, the lowest close since Feb. 27.

Oil companies: PTT Pcl (PTT) , Thailand’s largest energy company, dropped 1.5 percent to 323 baht, the lowest close since Jan. 16. PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, slid 4.1 percent to 163 baht, the steepest loss since Nov. 1.

Crude oil declined 1.2 percent on May 18 to $91.48 a barrel in New York, the lowest close since Oct. 26.

Hana Microelectronics Pcl (HANA) , Thailand’s largest semiconductor packager, lost 2.8 percent to 21 baht, the biggest loss since Nov. 10. The company’s plants are operating between 50 percent and 55 percent of their production level before last year’s floods, Chief Executive Officer Richard Han said in a Bloomberg Television interview.

Thai Airways International Pcl (THAI) , the country’s largest carrier, fell 1.3 percent to 22.80 percent, the lowest close since Jan. 30. The airline will replace Piyasvasti Amranand as president and chief executive officer after three years, and assigned a committee to search for a new leader, Chairman Ampon Kittiampon said at a media briefing today in Bangkok.

Thai Reinsurance Pcl (THRE) , the nation’s only reinsurer, dropped 3.4 percent to 3.46 baht, the lowest close since Feb. 24. The company had a net loss of 1.67 billion baht ($53.4 million) in the first quarter, compared with a profit of 229.4 million baht a year earlier.

Thai Stanley Electric Pcl (STANLY) , a maker of automobile bulbs, rose 2.5 percent to 188 baht, the largest increase since May 2. Net income for year ended March 31 was 726.6 million baht, beating the average estimate of 670.3 million baht in a Bloomberg survey of nine analysts.

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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