Thailand Stocks: Khon Kaen, Khonburi, Sri Trang, Thai Rubber
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 slid 39 points, or 3.8 percent, to 990.59, the largest drop since Jan. 24.
Oil companies: PTT Pcl (PTT) , Thailand’s biggest energy company, fell 3.2 percent to 302 baht, the lowest since Nov. 25. PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil explorer, lost 2.8 percent to 158 baht.
Crude oil fell to the lowest price in almost four weeks in New York after the U.S. Federal Reserve cited “significant downside risks” to the economic outlook in the world’s biggest crude-consuming nation.
Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, slumped 13 percent to 17.6 baht, the steepest decline since November 2005. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) fell 10 percent to 3.22 baht, the lowest since May 2010.
Rubber futures in Tokyo slumped to its lowest level in more than 10 months after the Federal Reserve said that there are “significant downside risks” to the U.S. economic outlook, spurring investor sales of the commodity used in tires.
Sugar producers: Khon Kaen Sugar Industry Pcl (KSL) slipped 6.9 percent to 12.1 baht, the lowest close since Oct. 28. Khonburi Sugar Pcl (KBS TB) lost 6.5 percent to 10 baht.
Raw-sugar futures for March delivery yesterday dropped 3.3 percent to settle at 25.91 cents a pound on ICE Futures U.S. in New York, the lowest for a most-active contract since June 30.
Thai Vegetable Oil Pcl (TVO) , the nation’s largest soybean supplier, dropped 10 percent to 19.70 baht, the largest drop since Oct. 27, 2008. Soybean futures for November delivery dropped for a second day, losing 2.1 percent to $12.9275 a bushel on the Chicago Board of Trade at 5:54 p.m. Singapore time.
Superblock Pcl (SUPER) , a producer of concrete walls and blocks, slid 11 percent to 0.55 baht. The company plans to sell 157.3 million new shares to existing shareholders at 0.56 baht each.
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