Thai Hot Stocks-Total Access up, banks hurt by Q2 concerns
(Adds DTAC, banks)
BANGKOK, July 8 (Reuters) - Thailand's benchmark stock index .SETI was down 1.74 percent at 573.30 at 0811 GMT on Wednesday.
The index slid more than 2 percent at one stage, hitting its lowest level since June 23, after the market reopened following a two-day public holiday.
Stocks on the move included:
TOTAL ACCESS DTAC.BK UP ON 2009 REVENUE HOPES
Shares in the country's second-largest mobile phone operator rose 2.3 percent to 33.25 baht after the company told Reuters its 2009 revenue should be similar to last year's, helped by cost cutting, and strong growth in data services would help offset falling roaming revenue. [nBKK248591]
BANKS .SETB DOWN ON WEAK Q2 PROFIT OUTLOOK
Top lender Bangkok Bank BBL.BK dropped 2.83 percent to a two-week low of 103 baht, number two Krung Thai Bank KTB.BK fell 1.16 percent to 8.50 baht, third-ranked Siam Commercial Bank SCB.BK dipped 2.84 percent, and number four Kasikornbank KBAN.BK edged down 2.31 percent.
KGI Securities said in a note it expected to see poor second-quarter results in the banking sector, with the economy in recession, but there should be signs of recovery, with loan growth picking up, from the second half.
0745 GMT
ENERGY SHARES .SETEN DOWN
Index heavyweight energy stocks .SETEN led the market fall, down nearly 3 percent after world oil prices fell towards $62. [nSP435918]
PTT PCL PTT.BK, the country's largest energy firm,
dropped 3.08 percent to a two-week low of 220 baht, PTT
Exploration and Production (PTTE.BK) shed 3.5 percent to 122.50
baht, and top refiner Thai Oil TOP.BK fell 4.48 percent to 32
baht, its lowest since April 30.
0327 GMT
PTT CHEMICAL PTTC.BK UNDERPERFORMS THE SECTOR
Shares in Thailand's largest olefins maker slumped 7.7 percent to 44.75 baht, well below a 5.25 percent fall in the petrochemical sector .SETPT, due to lower fuel prices.
0338 GMT
- For the Thai press digest click on [PRESS/TH]
- For Thailand's IPO diary click on <TH/IPOMENU>
- For Thailand's stock exchange news click on [TH-SET]
- For Thailand corporate earnings: [TH-RES-RTRS]
- For Thailand economic forecast: [POLL-ECI-TH-RTRS] ($1=34.09 Baht) (Reporting by Arada Therdthammakun; Editing by Alan Raybould)
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