Bloomberg News

Thailand Stocks: PTT, PTT Exploration, Sri Trang Agro, Stars

November 01, 2011

Nov. 1 (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 fell 1.9 percent to 956.59, the first decline in four days. The gauge gained 6.4 percent last month, the most since July.

Oil companies: PTT Pcl (PTT TB), Thailand’s biggest energy company, dropped 3.6 percent to 295 baht. PTT Exploration & Production Pcl (PTTEP TB), the nation’s only publicly traded oil explorer, lost 4.4 percent to 154 baht, the steepest decrease since Oct. 3.

Oil retreated for a third day in New York on speculation commodity demand will falter after a Chinese manufacturing index fell for the first time in three months and as European leaders struggled to contain the region’s debt crisis.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, slid 5.8 percent to 17.90 baht, the steepest loss in two weeks. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) dropped 1.3 percent to 3.08 baht.

Rubber in Tokyo fell for a second day as the slowdown in Chinese manufacturing raised concern demand from the world’s largest user may weaken.

OSK Securities (Thailand) Pcl (OSK TB), a stock brokerage, gained 1.7 percent to 2.42 baht, the largest rally since Sept. 26. Net income in the third quarter increased 27 percent to 12.5 million baht ($405,000).

Stars Microelectronics (Thailand) Pcl (SMT TB), a maker of electronic components, declined 2 percent to 7.25 baht. The company said its plant in Ayutthaya province is still submerged by floodwaters. The company expects to resume some production lines on Dec. 1, it said in a regulatory filing.

--Editor: Shiyin Chen

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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