Monday September 21, 09:08 AM
Thai Hot Stocks-Index edges down, Tipco Asphalt jumps
BANGKOK, Sept 21 (Reuters) - Thailand's benchmark stock index was down 0.04 percent at 713.41 at 0738 GMT on Monday,
erasing earlier gains due to profit-taking in big-cap stocks
after the index hit a 14-month high last week, dealers said.
Stocks on the move included:
TIPCO ASPHALT JUMPS, A & (Paris: FR0000075160 - news) apos;BUY' ON GOVT PROJECTS
Shares in the asphalt maker jumped 8.8 percent to 25.25 baht,
having hit their highest since February 2008 at 25.50 baht, as
brokers were positive on the revenue it could earn from
government spending on roads.
Kim Eng Securities said it had revised up its share target
price to 30 baht from 22 baht and maintained a 'buy'
recommendation due to expectations the government's road
maintenance project would add another 60,000-90,000 tonnes to the
company's sales volume.
0744 GMT
MID-CAP PROPERTY STOCKS HIT HIGHEST IN OVER A YEAR
Shares in Quality Houses rose 4.35 percent to 2.40
baht, having hit their highest since June 2008 at 2.42 baht in
early trade, and Preuksa Real Estate climbed 3.45 percent
to 12 baht, its highest since May 2008.
Siam City Securities said in a note to clients that property
firms would benefit from the government's planned property tax
revamp, while KGI Securities said in a research note it
recommended buying into mid-cap residential property companies
after a political rally at the weekend passed off peacefully.
0338 GMT
BANKS DOWN AFTER MONTHLY LOAN REPORTS
The banking subindex fell 0.24 percent in early trade, led by
a 1.1 percent drop in Krung Thai Bank, Thailand's second-largest
lender, to a one-week low of 9.05 baht after data showing
aggregate loan growth at 11 Thai banks was flat in August
compared with July, and had contracted by about 3 percent since
the start of the year.
Shares in third-ranked Siam Commercial Bank fell
0.31 percent to 81.50 baht and number four Kasikornbank
eased 0.63 percent to 78.25 baht, while top lender Bangkok Bank was unchanged at 118 baht.
0317 GMT
CENTRAL PLAZA UP ON UPBEAT REVENUE OUTLOOK
Thailand's leading hotelier rose 2.06 percent to 3.96 baht
after the hotelier said it expected 2010 revenue growth of 10-15
percent, helped by an upturn in the economy, compared with 2-3
percent this year.
0318 GMT
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($1=33.69 Baht)
(Reporting by Arada Kultawanich; Editing by Alan Raybould)
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