Jan. 11 (Bloomberg) -- Thailand’s SET Index fell 4.64 or 0.5 percent, to 1,013.39 at the 4:30 p.m. close, completing a three-day, 3.6 percent slide.
Banks: The Bank of Thailand will probably increase borrowing costs tomorrow for the fourth time in seven months as rising wages and oil prices threaten to stoke inflation, economists surveyed by Bloomberg News said.
The central bank will raise its benchmark one-day bond repurchase rate by a quarter of a percentage point to 2.25 percent at its meeting tomorrow, according to 18 of 21 economists surveyed by Bloomberg.
Kasikornbank Pcl (KBANK TB), Thailand’s third-biggest lender by assets, fell 2.4 percent to 123.5 baht, the lowest close since Dec. 21. Thanachart Capital Pcl (TCAP TB), a financial company, declined 2.8 percent to 34.5 baht, its lowest level since Sept. 7. Siam Commercial Bank Pcl (SCB TB) lost 1.8 percent to 97.75 baht.
Sri Trang Agro-Industry Pcl (STA TB), the largest publicly traded rubber producer, jumped 3.3 percent to 39.25 baht, a record close. The cash price of rubber in Thailand gained to 162.80 baht ($5.30) per kilogram today, an all-time high, according to the Rubber Research Institute of Thailand.
Tisco Financial Group Pcl (TISCO TB), a financial company, rose 1.4 percent to 37 baht, snapping a five-day, 10 percent slide. The company reported a 45 percent increase in net income for the year ended Dec. 31 to 2.89 billion baht ($94.4 million), or 3.97 baht a share.
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