Bloomberg News

Thailand Stocks: Bangkok Life, Delta Electronics, LV Technology

November 09, 2011

Nov. 9 (Bloomberg) -- Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are at the close in Bangkok.

The SET Index fell 1.6 percent to 967.84, the most since Nov. 1.

Energy companies: PTT Pcl (PTT TB), Thailand’s biggest energy company, dropped 3.3 percent to 296 baht, the steepest decline since Nov. 1. Banpu Pcl (BANPU TB), the nation’s largest coal producer, lost 2 percent to 582 baht.

Oil snapped a five-day winning streak, its longest in a year, before data forecast to show that U.S. inventories of crude oil and gasoline increased last week. A lower oil prices may reduce demand for alternative fuels such as coal.

Bangkok Life Assurance Pcl (BLA TB), Thailand’s biggest publicly traded insurance company, gained 2.1 percent to 47.75 baht, the highest close since Sept. 22. Net income in the third quarter more than doubled to 1.06 billion baht ($34.7 million).

Delta Electronics (Thailand) Pcl (DELTA TB), a Thai unit of Taiwan’s Delta Electronics Inc, declined 2.6 percent to 18.5 baht, the most since Oct. 13. Profit in the third quarter dropped 54 percent to 752 million baht.

LV Technology Pcl (LVT TB), an engineering company, jumped 9.6 percent to 1.60 baht, the largest increase since May 27, 2010. The company plans to sell 37.5 million new shares at 1.84 baht each to a single investor, it said in a regulatory filing.

--Editor: Matthew Oakley

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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