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Thailand Stocks: Bangkok Dusit, Indorama, Thai Reinsurance

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the close in Bangkok.

The SET Index fell 0.8 percent to 1,158.71, the most since Feb. 27. The gauge dropped 0.6 percent this week, the first decrease in 10 weeks.

Bangkok Dusit Medical Services Pcl (BGH TB), Thailand’s biggest private-hospital operator, climbed 4.8 percent to 82.5 baht, the steepest advance since Oct. 6. The company’s stock rating was upgraded to outperform from neutral at KGI Securities (Thailand) Pcl., meaning that it expects the stock’s return to exceed the average among its peers.

Indorama Ventures Pcl (IVL TB), the country’s largest polyester producer, lost 3.1 percent to 38.75 baht, the most since March 2. Morgan Stanley lowered its cotton estimate for 2011-12 to 90 cents a pound, from $1 a pound on “weak global demand,” Hussein Allidina, an analyst at Morgan Stanley, said in a report e-mailed today. Polyester competes with cotton as a substitute fiber in textile.

Thai Reinsurance Pcl (THRE TB), the nation’s only reinsurer, gained 3.4 percent to 3.64 baht, halting a three-day slide. The company may manage the government’s 50 billion baht ($1.64 billion) disaster insurance fund, Krungthep Turakij reported, citing Pravej Ongartsittigul, secretary-general of the Office of Insurance Commission. It’s the only insurance company to submit a bid to manage the fund, the Thai-language newspaper said. Pravej wasn’t immediately available for comment after a call to his office.

Thai Vegetable Oil Pcl (TVO TB), the nation’s largest soybean supplier, rose 1.9 percent to 21.6 baht, the highest close since Sept. 21. Soybean futures gained as much as 0.4 percent to $13.44 a bushel in Chicago, the highest level for the most-active contract since Sept. 21.

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