Bloomberg News

Thailand Stocks: Bangkok Bank, Kasikornbank, Krung Thai Bank

October 04, 2011

Oct. 4 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 12:30 p.m. break in Bangkok.

The SET Index dropped for a fifth day, falling 11.92 points, or 1.4 percent, to 857.39, heading for the lowest close since July 30, 2010.

Banks: The Thai Bankers Association expects loan growth in the local banking industry will be 6 percent to 8 percent next year, in line with this year, Chairman Chartsiri Sophonpanich said. The European debt crisis will continue to affect financial markets, he said.

Bangkok Bank Pcl (BBL TB), Thailand’s biggest lender, declined 3.5 percent to 126 baht, set for the lowest close since July 5, 2010. Kasikornbank Pcl (KBANK TB) lost 4.9 percent to 106.5 baht. Siam Commercial Bank Pcl (SCB TB) slipped 6.1 percent to 96.75 baht, poised for its biggest decline since March 2, 2009.

Krung Thai Bank Pcl (KTB TB), the nation’s second-largest lender, dropped 4.3 percent to 13.50 baht, heading for the lowest close since Aug. 30, 2010. Moody’s Investors Service changed the outlook on Krung Thai’s foreign-currency deposit ratings to negative from stable.

--Editors: Shiyin Chen, Tony Jordan

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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