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Thai Hot Stocks-PTT Chemical surges on earnings outlook

Wed Nov 4, 2009 2:23pm IST
 
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(Adds PTT Chemical)

BANGKOK, Nov 4 (Reuters) - Thailand's stock index .SETI was up 2.28 percent at 683.69, in line with most reginal markets, on thin turnover of 13 billion baht ($389 million) at 0845 GMT on Wednesday.

Stocks on the move included:

PTTCH PTTC.BK UP ON EARNINGS OPTIMISM

PTT Chemical (PTTCH) surged 5.8 percent to 63.75 baht on expectations that the country's largest olefins maker would report its best quarterly earnings of the year for the third quarter.

PTTCH, due to release July-September earnings next week, is expected to report net profit of 3.2 billion baht, up 48 percent from the previous quarter, but down 36 percent from a year earlier, Ayudhya Securities said in a note.

0843 GMT

BANK SHARES .SETB UP ON UPBEAT 2010 OUTLOOK

The banking subindex rose nearly 2 percent, boosted by gains in third-largest lender Siam Commercial Bank and fourth-ranked Kasikornbank SCB.BK, on optimism the sector would benefit from an economic recovery, which should boost loan growth next year.  Continued...

Dubai Debt Fears

Villas are seen on the The Palm, Jumeirah, with Atlantis, The Palm, under construction on the breakwater (crescent), May 3, 2008.  REUTERS/Jumana El Heloueh

Banks outside the Gulf played down their exposure to Dubai debt, after fears the emirate could default and even derail world economic recovery prompted a sell-off in global markets.  Full Article | Slideshow 

India Investment Summit 2009
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People stroll outside the Taj Mahal hotel ahead of the first anniversary of the militant attacks in Mumbai, November 24, 2009.  REUTERS/Punit Paranjpe
Investors worry about another attack

The risk of militants striking again worries investors who fear that a second attack similar to last year's Mumbai raids could shake the economy.  Full Article | Full Coverage 

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