Bloomberg News

Thailand Stocks: Khon Kaen, Sri Trang, Thai Airways, Workpoint

December 06, 2011

Dec. 6 (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 for a sixth day, climbing 0.1 percent to 1,030.77, the highest level since Sept. 16. The nation’s financial markets were closed yesterday for a public holiday.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, gained 2.2 percent to 18.7 baht, the highest close since Oct. 31. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) advanced 2.4 percent to 3.36 baht.

Rubber in Tokyo advanced for a second day, erasing an earlier loss, on concerns that supplies may decline after rains in Thailand, the largest producer, disrupted tapping.

Khon Kaen Sugar Industry Pcl (KSL TB), a sugar producer, climbed 3.2 percent to 13 baht, the highest close since Sept. 21. Raw sugar for March delivery rose 2.7 percent to settle at 24.08 cents a pound yesterday on ICE Futures U.S., the biggest gain for a most-active contract since Oct. 14.

Thai Airways International Pcl (THAI TB), the country’s largest carrier, fell 1.9 percent to 20.8 baht, the most since Nov. 9. Thai Airways expects to record a revenue loss of about 3 billion baht ($97 million) in the fourth quarter as floods in Thailand prompted travelers to cancel trips, making it “difficult” for the company to return to profit this year, President Piyasvasti Amranand told reporters today.

Workpoint Entertainment Pcl (WORK TB), a television program producer, gained 3.3 percent to 12.7 baht, the largest increase since Oct. 27. Profit in the third quarter jumped 80 percent to 96.7 million baht ($3.13 million).

--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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