Bloomberg News

Thailand Stocks: Advanced Info, Grande Asset, PTT Exploration

September 28, 2011

Sept. 28 (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 15.02 points, or 1.6 percent, to 931.60. The gauge has slid 11 percent this quarter, heading for the biggest loss since the three months to December 2008.

Oil companies: PTT Pcl (PTT TB), Thailand’s biggest energy company, dropped 4.2 percent to 271 baht. PTT Exploration & Production Pcl (PTTEP TB), Thailand’s only publicly traded oil explorer, lost 2 percent to 148.5 baht.

Crude oil fell in New York, heading for the biggest quarterly decline since 2008, on speculation that fuel demand will drop as the U.S. economy slows and Europe’s debt crisis batters consumer sentiment.

Advanced Info Service Pcl (ADVANC TB), the nation’s biggest mobile phone company, gained 1.2 percent to 122 baht. Its rating was raised to “buy” from “hold” at DBS Vickers Securities (Thailand) Co. Ltd. The share-price estimate was increased to 140 baht from 122 baht.

Grande Asset Hotels & Property Pcl (GRAND TB), a developer, climbed 1.8 percent to 1.13 baht, the largest increase since Sept. 2. The company completed a share sale valued at 1 billion baht ($32.3 million) to a group of investors, it said in a regulatory filing.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, declined 2.8 percent to 17.1 baht. Rubber futures in Tokyo slumped to a one-year low, reversing earlier gains, as a drop in oil reduced the appeal of the commodity amid speculation that European leaders are divided on plans to tame a sovereign-debt crisis.

--Editor: Richard Frost

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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