Feb. 9 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
The SET Index fell 13.64, or 1.4 percent, to 969.89.
Mobile phone companies: Thailand’s telecommunications sector faces heightened legal risks that may affect the performance of its biggest companies, Fitch Ratings said in a report today. While the sector should remain “financially robust” in 2011, uncertainty over a review of concessions for private telecom operators could have a “negative impact,” it said.
Advanced Info Service Pcl (ADVANC TB), Thailand’s biggest mobile-phone company, dropped 2.7 percent to 80.5 baht, the most since Jan. 24. True Corp. Pcl (TRUE TB), the operator of the nation’s third-largest mobile-phone network, lost 3 percent to 6.55 baht.
Khon Kaen Sugar Industry Pcl (KSL TB), the country’s only publicly traded sugar miller, dropped 2.3 percent to 13 baht. Sugar futures in New York fell to a two-week low yesterday as rising output in Brazil, the world’s largest producer, and prospects for slowing demand in China eased concern about tight global inventories.
Thanachart Capital Pcl (TCAP TB), a Thai financial company, fell 4 percent to 30 baht, the most since Jan. 31. The company was downgraded to “neutral” from “outperform” by Sirinattha Techasiriwan, an analyst at Kasikorn Securities Co.
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