Thailand Stocks: Advanced Info, PTT Exploration, Thai Stanley
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Bangkok.
The SET Index (SET) fell 0.6 percent to 1,216.62, heading for the first decline in four days.
Auto parts makers: Thai Stanley Electric Pcl (STANLY) paced gains in automobile-related shares on expectation rising vehicle output will bolster earnings. Thai Stanley, the country’s biggest auto-parts producer by market value, climbed 4.5 percent to 211 baht, on course for the highest close since November 2003. Aapico Hitech Pcl (AH) added 2 percent to 15.40 baht. Thai Rung Union Car Pcl (TRU) added 1 percent to 10.3 baht, bound for the highest close since March 2005.
Thailand’s vehicle sales in the first half jumped 40 percent to 606,523 units, Toyota Motor Thailand Co. Ltd., the nation’s largest automaker, said in an emailed statement today.
Advanced Info Service Pcl (ADVANC) , the country’s biggest mobile phone company, dropped 3.4 percent to 202 baht, bound for the steepest decline since April 5. The company was downgraded to underperform, the equivalent of sell, from neutral by Pisut Ngamvijitvong, an analyst at CIMB Securities (Thailand) Co. Ltd.
PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, lost 1.8 percent to 168 baht. Shareholders of Cove Energy Pcl should accept PTT Exploration’s offer for the U.K. explorer, Cove’s board said yesterday. PTT Exploration offers to buy Cove’s shares at 240 pence each.
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