Bloomberg News

Thailand Stocks: Advanced Info, PTT Exploration, Shin, Thai Air

November 07, 2011

Nov. 7 (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 0.1 percent to 956.02, declining for a third day.

PTT Exploration & Production Pcl (PTTEP TB), Thailand’s biggest publicly traded oil explorer, climbed 1 percent to 152.5 baht, halting a two-day drop. Oil traded near a three-month high in New York as signs that Greece may secure a financial rescue package countered speculation that Italy will fail to pass its budget and worsen the region’s sovereign debt crisis.

Advanced Info Service Pcl (ADVANC TB), Thailand’s biggest mobile-phone company, advanced 1.5 percent to 137 baht, the highest close since at least November 1991 when Bloomberg began collecting the data. Shin Corp. (INTUCH TB), Advanced Info’s largest shareholder, will sell a 2.05 percent stake in the company to Singtel Strategic Investments Pte, it said in a statement to the Stock Exchange of Thailand.

Singtel Strategic, a unit of Singapore Telecommunications Ltd., currently owns 21.27 percent in Advanced Info, according to the regulatory filing. Shin jumped 5.5 percent to 38.25 baht.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, dropped 2.2 percent to 18.10 baht, the lowest close since Oct. 4. The airline began moving employees from its headquarters in Bangkok to Suvarnabhumi Airport because of rising floodwaters in the capital. Only essential staff will remain at the carrier’s head office in Viphavadee Rangsit Road, Raj Tanta-Nanta, Thai Air’s vice president for investor relations, said today by phone.

--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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