Bloomberg News

Thailand Stocks: Kasikornbank, Pylon, Quality Houses, Sri Trang

December 07, 2011

Dec. 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 rose for a seventh day, climbing 1.6 percent to 1,046.73, the longest winning streak since the eight-day rally through July 25.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, increased 3.7 percent to 19.4 baht, the highest close since Oct. 28. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) advanced 1.8 percent to 3.42 baht.

Rubber futures in Tokyo advanced to a one-month high on speculation that oil will extend a rally on concern that supply from the Middle East may be interrupted, boosting the cost of making synthetic products used in tires.

Kasikornbank Pcl (KBANK TB), the country’s third-largest lender by assets, gained 1.6 percent to 124 baht, the highest close since Nov. 8. Kasikornbank’s long-term counterparty credit rating was raised to BBB+ from BBB by Standard & Poor’s.

Pylon Pcl (PYLON TB), an engineering services company, jumped 4.8 percent to 3.50 baht, the most since Aug. 11. The company won nine contracts valued at a total of 143.6 million baht ($4.7 million), it said in a regulatory filing.

PTT Exploration & Production Pcl (PTTEP TB), the nation’s only publicly traded oil explorer, climbed 2.7 percent to 169 baht, the highest since Sept. 1. Crude oil rose for a fourth day in New York on speculation European leaders will agree steps to ease the debt crisis at a summit tomorrow, and on signs the region may suspend imports of Iranian crude.

Quality Houses Pcl (QH TB), a property developer, dropped 1.9 percent to 1.57 baht, halting a three-day, 16 percent rally. Quality Houses has received no contact from Siam Cement Pcl, which was reported to have shown interest in buying the company’s stake in Home Product Center Pcl, it said in regulatory filing. Quality Houses owns 17 percent of Home Product, according to data compiled by Bloomberg.

Home Product (HMPRO TB), a retailer of home improvement hardware, rose 0.9 percent to 11.4 baht.

--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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