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Thailand Stocks: Advanced Info, PTT, Padaeng, Sri Trang Agro

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Oct. 3 (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 tumbled 46.90 points, or 5.1 percent, to 869.31, the lowest close since Aug. 17, 2010.

Oil companies: PTT Pcl (PTT TB), Thailand’s biggest energy company, slid 6.2 percent to 244 baht, the lowest since July 22, 2010. PTT Exploration & Production Pcl (PTTEP TB), the nation’s only publicly traded oil explorer, lost 5 percent to 132.50 baht, the lowest since Feb. 18, 2010.

Crude oil fell in New York, after closing last week at a one-year low, on concern that Greece will default on debt payments, leading to slower economic growth and fuel consumption.

Rubber producers: Rubber futures extended losses in Tokyo on concern that the slowing U.S. economy and deepening European debt crisis may curb demand for the commodity used in tires and gloves.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, slumped 8.1 percent to 14.7 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) declined 3.3 percent to 2.9 baht.

Advanced Info Service Pcl (ADVANC TB), the nation’s largest mobile-phone company, slipped 1.6 percent to 126 baht, the first decline in five days. Thailand’s six-year struggle to sell licenses for third-generation wireless services may be derailed by politics, Wichian Mektrakarn, Advanced Info’s chief executive officer, said in an interview. The company is reluctant to invest more until the government auctions licenses and sets rules for operating the service, Wichian said.

Padaeng Industry Pcl (PDI TB), the nation’s largest zinc producer, fell 2.3 percent to 12.7 baht, the lowest close since April 2009. Zinc for three-month delivery on the London Metal Exchange lost 3.4 percent to $1,860 a ton on Sept. 30, the lowest since July 19, 2010.

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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