Thailand Stocks: PTT, Precious Shipping, Thoresen, Thai Airways

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 4.84, or 0.5 percent, to 1,015.53, the lowest close since June 8.

Oil companies: PTT Pcl (PTT TB), Thailand’s biggest energy company, dropped 0.9 percent to 331 baht. PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly traded oil explorer, lost 2.1 percent to 165 baht, the lowest close since Feb. 10.

Crude oil dropped for a second day in New York before reports that may show slowing economic growth in the U.S. and China, signaling a decline in fuel demand in the world’s two largest crude consumers.

Shipping companies: Precious Shipping Pcl (PSL TB), Thailand’s largest publicly traded shipping company, declined 0.6 percent to 16.6 baht. Thoresen Thai Agencies Pcl (TTA TB), the second biggest, fell 1.6 percent to 18.4 baht.

The Baltic Dry Index, a measure of commodity shipping costs, fell 0.7 percent on April 10, its fifth straight decline, according to the Baltic Exchange in London.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, slid 4.2 percent to 28.5 baht, the lowest close since July 7, 2010. The company’s board approved a plan to acquire 37 new planes by 2017 at a cost of 118.6 billion baht ($3.9 billion), it said in a regulatory filing today. The carrier will buy six Boeing Co. 777-300ER planes and nine Airbus SAS jets, Thai Airways said today in a statement. The company plans to lease a further 22 aircraft in the period, it said.

Tapaco Pcl (TAPAC TB), a producer of plastic parts used in office equipment, slid 4.6 percent to 3.34 baht, the lowest close since Feb. 28. Net income for the quarter ended April 30 declined 31 percent to 8.26 million baht, the company said in a statement to the stock exchange.

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