July 5 (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 slipped 5.69 points, or 0.5 percent, to 1,084.59, halting a four-day, 7.9 percent gain.
PTT Pcl (PTT TB), Thailand’s biggest energy company, dropped 1.1 percent to 347 baht, the first decrease in four days. PTT said its main natural-gas pipeline will resume normal operations in mid-August, after repairs are made to a leak. The company plans to buy 210,000 metric tons of liquefied natural gas in three cargoes by August to make up for any shortfall, Chief Operating Officer Pailin Chuchottarworn said today.
Total Access Communication Pcl (DTAC TB), Thailand’s second-biggest mobile phone company, fell 3.8 percent to 57 baht, the steepest decline since June 23. The commerce ministry will ask the police to further investigate the shareholding structure of Total Access to determine whether it is in breach of foreign ownership laws.
The ministry found “some grounds” for further investigation, though it doesn’t have the power to complete the probe, Permanent Secretary for Commerce Yanyong Phuangrach said yesterday. Total Access said in an e-mailed statement that the company is confident it complies with all relevant laws and regulations in Thailand.
Vinythai Pcl (VNT TB), a Thai maker of polyvinyl chloride resin, gained 1.8 percent to 17.3 baht, the highest since April 29. The company was rated “buy” in new coverage at Asia Plus Securities Pcl, which said rising demand from China and Japan will boost the company’s sales. The brokerage has a share-price estimate of 22 baht.
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