BANGKOK, April 21 (Reuters) - Thailand's benchmark stock
index erased earlier losses and was up 0.01 percent at
466.33 at 0847 GMT on Tuesday after late buying in some energy
and telecoms firms, analysts said.
Earlier, the index fell 1.5 percent to a low of 459.33 in line with regional markets, spooked by renewed fears about the health of banks around the world.
Turnover was relatively high at 9.4 billion baht ($264 million). The main index hit a near-15-week high on Monday, buoyed by buying of energy and petrochemical shares despite recent political violence in Thailand.
But weak results from Bank of America reignited worries about the U.S. financial system and economy, while domestic sentiment was also hit by comments from rating agency Moody's Investors Service.
Moody's said Thailand's credit fundamentals could experience negative consequences if political unrest continued and opposing camps failed to reach an agreement to co-exist.
Stocks on the move included
THAI AIR UP ON OPTIMISM OVER Q1 EARNINGS
National carrier jumped nearly 10 percent to a six-month high of 11.60 baht on expectation that the airline would post a profit before foreign exchange factors for the first quarter, while the fall in oil prices should reduce its fuel costs.
0845 GMT
ENERGY SHARES REBOUND ON LATE BUYING
Energy sector subindex bounced back from earlier losses and was down only 0.78 percent, with top energy firm PTT PCL falling 0.8 percent to 177 baht, after easing nearly 3 percent earlier as the benchmark oil price slid more than 8 percent to under $46 a barrel in overnight trade.
Top coal miner Banpu was up 0.4 percent at 252 baht after falling almost two percent.
0839 GMT
AIS UP ON HOPE OF Q1 RECOVERY
Top mobile phone operator Advanced Info Service bucked the overall market and rose 1.97 percent to 77.50 baht on expectations it would report a recovery in its first-quarter earnings.
Kiatnakin Securities said in a note it expected AIS to report profit from operations of 4.37 billion baht, up 11 percent from the previous quarter, although still down 17 percent from the same period last year.
0831 GMT
THAICOM UP ON HOPE OF NEW SERVICE IN JAPAN
Satellite operator rose nearly 5 percent to a one-month high of 3.42 baht on optimism the company would benefit from a move to launch high-speed Internet services via its broadband satellite IPSTAR in Japan.
Thaicom has said it received licences from the Japanese government to provide the services this month.
0411 GMT
LOXLEY
Trading and telecoms group Loxley jumped 5.8 percent to a two-month high of 2.02 baht on speculation that the government might decide to launch an online lottery scheme.
Loxley group has been selected to provide the online lottery services, but the plan was delayed after the Constitutional Court ruled late last year that the online lottery act was against the constitution.
0415 GMT
BANKS DOWN AFTER WEAK RESULTS
The banking subindex fell 2.16 percent after major Thai banks reported weak earnings for the first quarter.
Bangkok Bank slipped 4 percent to a four-day low of
76 baht after the top lender reported a bigger-than
expected 13.5 percent fall in net profit due to a drop in lending and net interest margins plus higher provisions.
However, it was also trading ex-dividend on Tuesday.
Kim Eng Securities said in a note it recommended clients to shift to other major banks like Kasikornbank and Siam Commercial Bank.
Third-ranked Siam Commercial Bank fell 1.8 percent to 55 baht while number four Kasikornbank lost 2 percent to 48 baht.
Krung Thai Bank retreated 1.75 percent to 5.6 baht after the country's second-largest lender reported a bigger-than-expected 39 percent fall in quarterly net profit, dragged down by an absence of investment gains and weaker net margins.
0305 GMT
- For the Thais press digest click on
- For Thailand's IPO diary click on
- For Thailand's stock exchange news click on
- For Thailand corporate earnings:
- For Thailand economic forecast:
($1=35.54 Baht)
(Reporting by Khettiya Jittapong; Editing by Alan Raybould)
((Khettiya.jittapong@thomsonreuters.com; +662 648 9728; Reuters Messaging:khettiya.jittapong.reuters.com@reuters.net)) FINDING REUTERS DATA - For details about the shareholders and institutional investors in a listed company, Reuters 3000 Xtra users can right-click on any RIC in a story and select 'Related Company Data'. On the 'Company Views' page that pops up, move your cursor over the 'Ownership' tab and select either Insider, Institutional or Mutual Funds. For Insiders, the pages indicate the number of shares held and well as the percentage of total shares held as well as market value and last update. For Institutional Investors and Mutual Funds, the page also indicates what percentage of the fund's assets are invested in the stock. To export the data to Excel, click on the Excel link at the top left. * ASIA-PACIFIC STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... * OTHER MARKETS: Wall Street .... Gold ....... Currency.. Eurostocks..... Oil ........ JP bonds... ADR Report ..... LME metals. US bonds.. Stocks News US.. Stocks News Europe * DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Thailand diary Wall Street Week Ahead Eurostocks Week Ahead * TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com * LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Thai baht LME price overview Keywords: MARKETS THAILAND/STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Earlier, the index fell 1.5 percent to a low of 459.33 in line with regional markets, spooked by renewed fears about the health of banks around the world.
Turnover was relatively high at 9.4 billion baht ($264 million). The main index hit a near-15-week high on Monday, buoyed by buying of energy and petrochemical shares despite recent political violence in Thailand.
But weak results from Bank of America reignited worries about the U.S. financial system and economy, while domestic sentiment was also hit by comments from rating agency Moody's Investors Service.
Moody's said Thailand's credit fundamentals could experience negative consequences if political unrest continued and opposing camps failed to reach an agreement to co-exist.
Stocks on the move included
THAI AIR UP ON OPTIMISM OVER Q1 EARNINGS
National carrier jumped nearly 10 percent to a six-month high of 11.60 baht on expectation that the airline would post a profit before foreign exchange factors for the first quarter, while the fall in oil prices should reduce its fuel costs.
0845 GMT
ENERGY SHARES REBOUND ON LATE BUYING
Energy sector subindex bounced back from earlier losses and was down only 0.78 percent, with top energy firm PTT PCL falling 0.8 percent to 177 baht, after easing nearly 3 percent earlier as the benchmark oil price slid more than 8 percent to under $46 a barrel in overnight trade.
Top coal miner Banpu was up 0.4 percent at 252 baht after falling almost two percent.
0839 GMT
AIS UP ON HOPE OF Q1 RECOVERY
Top mobile phone operator Advanced Info Service bucked the overall market and rose 1.97 percent to 77.50 baht on expectations it would report a recovery in its first-quarter earnings.
Kiatnakin Securities said in a note it expected AIS to report profit from operations of 4.37 billion baht, up 11 percent from the previous quarter, although still down 17 percent from the same period last year.
0831 GMT
THAICOM UP ON HOPE OF NEW SERVICE IN JAPAN
Satellite operator rose nearly 5 percent to a one-month high of 3.42 baht on optimism the company would benefit from a move to launch high-speed Internet services via its broadband satellite IPSTAR in Japan.
Thaicom has said it received licences from the Japanese government to provide the services this month.
0411 GMT
LOXLEY
Trading and telecoms group Loxley jumped 5.8 percent to a two-month high of 2.02 baht on speculation that the government might decide to launch an online lottery scheme.
Loxley group has been selected to provide the online lottery services, but the plan was delayed after the Constitutional Court ruled late last year that the online lottery act was against the constitution.
0415 GMT
BANKS DOWN AFTER WEAK RESULTS
The banking subindex fell 2.16 percent after major Thai banks reported weak earnings for the first quarter.
Bangkok Bank slipped 4 percent to a four-day low of
76 baht after the top lender reported a bigger-than
expected 13.5 percent fall in net profit due to a drop in lending and net interest margins plus higher provisions.
However, it was also trading ex-dividend on Tuesday.
Kim Eng Securities said in a note it recommended clients to shift to other major banks like Kasikornbank and Siam Commercial Bank.
Third-ranked Siam Commercial Bank fell 1.8 percent to 55 baht while number four Kasikornbank lost 2 percent to 48 baht.
Krung Thai Bank retreated 1.75 percent to 5.6 baht after the country's second-largest lender reported a bigger-than-expected 39 percent fall in quarterly net profit, dragged down by an absence of investment gains and weaker net margins.
0305 GMT
- For the Thais press digest click on
- For Thailand's IPO diary click on
- For Thailand's stock exchange news click on
- For Thailand corporate earnings:
- For Thailand economic forecast:
($1=35.54 Baht)
(Reporting by Khettiya Jittapong; Editing by Alan Raybould)
((Khettiya.jittapong@thomsonreuters.com; +662 648 9728; Reuters Messaging:khettiya.jittapong.reuters.com@reuters.net)) FINDING REUTERS DATA - For details about the shareholders and institutional investors in a listed company, Reuters 3000 Xtra users can right-click on any RIC in a story and select 'Related Company Data'. On the 'Company Views' page that pops up, move your cursor over the 'Ownership' tab and select either Insider, Institutional or Mutual Funds. For Insiders, the pages indicate the number of shares held and well as the percentage of total shares held as well as market value and last update. For Institutional Investors and Mutual Funds, the page also indicates what percentage of the fund's assets are invested in the stock. To export the data to Excel, click on the Excel link at the top left. * ASIA-PACIFIC STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... * OTHER MARKETS: Wall Street .... Gold ....... Currency.. Eurostocks..... Oil ........ JP bonds... ADR Report ..... LME metals. US bonds.. Stocks News US.. Stocks News Europe * DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Thailand diary Wall Street Week Ahead Eurostocks Week Ahead * TOP NEWS: For top Asian company news, double click on: U.S. company news European company news Forex news Global Economy news Technology news Telecoms news Media news Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com * LIVE PRICES & DATA: World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 Debt Thai baht LME price overview Keywords: MARKETS THAILAND/STOCKS (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2009 AFX News
