Bloomberg News

Thailand Stocks: Bangkok Bank, Thai Optical, Thai Stanley

November 17, 2011

Nov. 17 (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 0.4 percent to 993.38, the first drop in six days.

Bangkok Bank Pcl (BBL TB), Thailand’s biggest lender, declined 1.1 percent to 141.5 baht, the first decrease in four days. The bank was downgraded to “neutral” from “outperform” at Credit Suisse Group AG, which cited floods and expected drop in interest rates. The brokerage also reduced the share-price estimate to 165 baht from 219 baht.

Thai Optical Group Pcl (TOG TB), the nation’s biggest publicly traded maker of optical glasses, increased 2.9 percent to 2.86 baht, the highest close since Sept. 30. The company will resume operations at a plant in Nonthaburi province on Nov. 21 after floods receded, it said in a regulatory filing yesterday.

Thai Stanley Electric Pcl (STANLY TB), the country’s largest publicly traded producer of automobile parts, climbed 3.8 percent to 151.5 baht, the most since July 21. The company resumed a production at its plant in Pathum Thani province on Nov. 16 after floods receded, it said in a regulatory filing after the market closed yesterday.

--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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