STOCKS NEWS THAILAND-Cal-Comp Electronics jumps on earnings hope
Shares in Cal-Comp Electronics Pcl jumped 5 percent to 3.78 baht, climbing at one point to 3.86 baht, on expectations the company would post strong earnings growth this year along with rising demand for consumer electronics.
Maybank Kim Eng Securities projected a 156.3 percent growth in net profit this year to 2.06 billion baht ($69.16 million). Maybank upgraded its rating on the electronics sector to 'overweight'.
"The industry is now moving on an uptrend after increasing wages in China (that) has led many producers to move operational bases back to Thailand, which should be a main Asian hub in the future," the broker said in a report.
Maybank said Cal-Comp was its top pick.
"We expect electronics demand to expand once again in 2013, driven by a recovering world economy with the advent of new technology," it said. ($1 = 29.785 baht) 1155 (0455 GMT) (Reporting by Pairat Temphairojana in Bangkok; Editing by Anand Basu)
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal
- China's parliament: Japan has "no right to criticize" air defense zone