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Thailand Stocks: Khon Kaen, Khonburi, Thai Union, Thai Airways

Sept. 19 (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 16.15 points, or 1.6 percent, to 1,017.19, the lowest close since June 28.

Companies with European business: Thai Union Frozen Products Pcl (TUF TB), which owns the Paris-based tuna canner MW Brands Holdings SAS, declined 2.3 percent to 53.75 baht, the lowest price since Aug. 9. Central Pattana Pcl (CPN TB), which runs a shopping mall in Italy, lost 3.4 percent to 35.25 baht.

Asian shares fell on concern that Greece may default. Greece’s ability to avoid default hangs in the balance this week as international monitors will assess whether Prime Minister George Papandreou can meet conditions of rescue loans. Papandreou canceled a U.S. visit that was to begin yesterday, saying he needed to remain in the country for a “critical” seven days.

Sugar producers: Khon Kaen Sugar Industry Pcl (KSL TB) slid 5.1 percent to 13 baht, the lowest close since May 6. Khonburi Sugar Pcl (KBS TB) dropped 3.6 percent to 10.70 baht.

Sugar futures on Sept. 16 plunged the most in six months in New York and London on signs of increased supply from Brazil.

Thai Airways International Pcl (THAI TB), the nation’s largest airline, declined 3.5 percent to 24.60 baht, the biggest drop since Aug. 30. Tiger Airways Holdings Ltd. said it will review its plan to set up a new low-fare venture with Thai Airways after delays in winning Thailand’s regulatory approval. Thai Airways management informed the airline that there has been no progress in obtaining the approval for the venture, Tiger Air, said in a statement to the Singapore stock exchange today.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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