Oct. 12 (Bloomberg) -- 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 rose 0.8 percent to 952.77, the highest close since Sept. 23.
Auto-parts makers: Thai Stanley Electric Pcl (STANLY TB), Thailand’s biggest auto-parts producer by market value, fell 1 percent to 146 baht, a one-week low. Somboon Advance Technology Pcl (SAT TB) declined 1.7 percent to 17.80 baht, the lowest close since June 8, 2010. Aapico Hitech Pcl (AH TB) lost 4.2 percent to 9.10 baht, the lowest since June 17, 2010.
Thailand may cut its forecast for auto production this year because the nation’s worst floods in more than 50 years have disrupted supply chains and forced companies to shut down production, Thai Automotive Industry Club spokesman Surapong Paisitpatnapong said by phone today from Bangkok,
Mill Con Steel Industries Pcl (MILL TB) climbed 5.9 percent to 2.14 baht, the largest increase since July 22, 2010. The Thai steel producer will sell 1.81 billion baht ($59 million) of convertible bonds and as many as 255 million new shares, the company said in a regulatory filing. The proceeds will fund the 1.5 billion-baht acquisition of Ocean Profit Co. Ltd., it said.
Ticon Industrial Connection Pcl (TICON TB), a factory developer, declined 3 percent to 9.60 baht, the lowest close since June 11, 2010. The company was cut to “sell” from “buy” at Citigroup Inc., which cited the closure of its plants amid Thailand’s worst floods in more than half a century. The brokerage reduced its share-price estimate to 8.70 baht from 12.80 baht.
Tisco Financial Group Pcl (TISCO TB), a financial company, gained 5.3 percent to 34.5 baht, the highest level since Oct. 3. Net income in the third quarter climbed 23 percent to 898.9 million baht, or 1.23 baht a share, it said in a regulatory filing.
--Editor: Shiyin Chen
To contact the reporter on this story: Anuchit Nguyen in Bangkok at email@example.com.
To contact the editor responsible for this story: Shiyin Chen at firstname.lastname@example.org