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Thailand Stocks: Charoen Pokphand, Advanced, Siam Industrial

Thailand’s SET Index rose for a second day, climbing 2.02, or 0.5 percent, to 441.62 at the close in Bangkok.

Foods exporters: Charoen Pokphand Foods Pcl (CPF TB), Thailand’s biggest publicly traded chicken exporter, climbed 1.8 to 3.48 baht, its highest since Oct. 22. Thai Union Frozen Products Pcl (TUF TB), the world’s second-biggest tuna canner, advanced 2.1 percent to 19.90 baht, its biggest gain since Jan. 15.

Investors should buy shares of foods exporters such as Charoen Pokphand and Thai Union as the baht’s weakness will have a “positive impact” on their earnings, Vorasinee Sangvornvetphan, an investment strategist at Capital Nomura Securities Pcl, wrote in a note today.

The baht fell 0.6 percent to 35.56 per dollar as of 4:28 p.m. in Bangkok, after dropping to 35.58, the weakest since Dec. 8, according to data compiled by Bloomberg.

Brokerage companies: Globlex Holding Management Pcl (GBX TB) surged 29 percent to 0.54 baht, the best performer on the benchmark SET Index. United Securities Pcl (US TB) jumped 12 percent to 2.72 baht, the most since Dec. 29. UOB Kay Hian Securities (Thailand) Pcl (UOBKH TB) gained 14 percent to 3.34 baht, the highest since Oct. 16. BFIT Securities Pcl (BSEC TB), the No. 2 stock brokerage by trading volume, added 1.9 percent to 2.16 baht, completing a four-day, 86 percent rally.

There will be “more short-term speculation on shares of stock brokerages” with high cash and price-to-book ratio of less than 1, Touchcha Pattarasaengthai, an analyst at Trinity Securities Co., wrote in a report today.

Advanced Info Service Pcl (ADVANC TB), Thailand’s biggest mobile phone company, climbed 2.6 percent to 79 baht, its biggest gain since Jan. 14. The company will pay a dividend of 3.3 baht a share for the second half, it said in a filing today.

Advanced Info still has a “positive outlook because of its strong financial position and high dividend payment,” Nuttapon Kumnounpon, an analyst at United Securities Pcl, wrote in a note today. Nuttapon reiterated his “buy” rating on the stock with a price estimate of 101.4 baht.

L.P.N. Development Pcl (LPN TB), the country’s biggest publicly traded condominium builder, rose 1.6 percent to 2.56 baht, the highest since Nov. 11. Full-year profit last year rose 30 percent to 1.21 billion baht, the company said in a filing today. The company will pay a dividend of 0.27 baht a share for the second-half earnings, an increase from 0.22 baht a share in the same period last year.

Siam Industrial Credit Pcl (SICCO TB), a Thai finance company controlled by the country’s fourth-largest bank, lost 12 percent to 1.49 baht, its biggest decline since Oct. 10. The lender, controlled by Siam Commercial Bank Pcl, said today audited profit tumbled 84 percent to 20 million baht ($563,857) in 2008, lower than the unaudited net income of 228 million baht the company reported in Jan. 20.

Profit was cut on additional bad-loan provisions after the central bank requested the company to change its calculation of unpaid debt, the company said in a filing today.

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