Thailand Stocks: Asia Precision, Sri Trang Agro, Thai Oil
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of 10:20 a.m. in Bangkok.
The SET Index fell 9.04 points, or 1 percent, to 922.56. The gauge has declined 11 percent this quarter, set for the biggest loss since the three months ended December 2008.
Rubber producers: Rubber futures in Tokyo tumbled to a 13- month low, heading for the worst quarterly loss since 2008, as concern grew that Europe’s debt crisis may deepen, sending global economies into recession and damping raw-material demand.
Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, dropped 1.8 percent to 16.8 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) declined 1.9 percent to 3.04 baht.
Asia Precision Pcl (APCS TB), a Thai producer of automobile parts, jumped 8.4 percent to 5.9 baht on its trading debut. The company sold 75 million shares at 5.45 baht each in an initial public offering.
Thai Oil Pcl (TOP) , Thailand’s biggest oil refiner by market value, dropped 1.9 percent to 50.75 baht. The company had its share-price estimate cut to 70 baht from 99 baht at Credit Suisse Group AG, which cited a decline in oil prices and refinery margins.
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