Thai Stocks Advance Most In Three Weeks:

[LaoPo]

Thai Stocks Advance Most in Three Weeks: World's Biggest Mover

By Anuchit Nguyen

Dec. 21 (Bloomberg) -- Thailand's benchmark stock index rose the most in three weeks, led by PTT Pcl on speculation recent declines made the stock attractive relative to its earnings.

Thai Oil Pcl, the nation's biggest refiner, climbed after Kim Eng Securities (Thailand) Pcl said the company's profit in the fourth quarter will ``positively surprise'' the market.

The SET Index gained 21.89, or 2.8 percent, to 813.60 at close, the biggest fluctuation among markets included in global benchmarks. The advance halted a four-day, 5.3 percent slide. The measure climbed 2.7 percent for the week and has risen 20 percent this year. Four stocks rose for each that dropped.

``There are a number of stocks whose prices are very cheap following their recent falls,'' said Sasikorn Charoensuwan, head of research at Phillip Securities (Thailand) Pcl. ``We recommend our clients to begin buying some of them.''

PTT, the country's biggest company by market value, rose 16 baht, or 4.9 percent, to 346, snapping a 10 percent, three-day decline. The company's 14-day relative strength index, a moving average based on how much the shares have moved, ended at the level of 38 yesterday, close to the 30 reading that indicates to some investors the shares are poised to rise.

PTT Exploration and Production Pcl, the country's No. 2 gas supplier controlled by PTT, climbed 11 baht, or 8 percent, to 148 after falling 13 percent in the past four days. PTT Chemical Pcl, the nation's No. 2 petrochemical maker majority owned by PTT, rose 5 baht, or 4.5 percent, to 117. Banpu Pcl, the country's biggest coal miner, surged 24 baht, or 6.7 percent, to 382, the largest advance since Oct. 29.

New Lending

Thai Oil rose 3 baht, or 3.8 percent, to 83. Higher prices of jet fuel diesel and gasoline will probably boost Thai Oil's fourth-quarter profit to 3 billion baht, said Kim Eng Securities, which has a ``buy'' recommendation.

Siam Commercial Bank Pcl, the nation's third-biggest commercial bank by assets, added 2 baht, or 2.5 percent, to 81. The bank expects new loans to grow 10 percent in 2008 on an increase in exports and higher commodity prices, Bangkok Post reported, citing Chairman Vichit Suraphongchai.

Ch. Karnchang Pcl, the No. 2 construction company, gained 0.35 baht, or 4.5 percent, to 8.1. Ch. Karnchang's construction orders may rise in 2008 as the company is likely to win a contract for a new power plant worth 10 billion baht in Laos, Seamico Securities Pcl said in a note to its clients today. The government's planned biddings for new railway projects will also benefit the company, said the brokerage which has a ``buy'' recommendation on the stock.

Somboon Advance Technology Pcl, a maker of automobile parts, climbed 0.6 baht, or 14.7 percent, to 4.3, its biggest gain since Oct. 10. Soomboon plans to spend 483 million baht in three expansion projects to meet rising demand, the company told the stock exchange today.

Bliss-tel Pcl, a distributor of mobile phone handsets, rose 0.2 baht, or 2.5 percent, to 8.3. Bliss plans to raise 157.5 million baht by selling new shares to its existing shareholders, the company told the stock exchange today. The company said it will offer 1.58 billion new shares at 0.15 baht each.

http://www.bloomberg.com/apps/news?pid=206...r=world_indices

LaoPo

[Beardog]

Hopefully Lao Po,

This will have some degree on the Expats & the Thais in a positive light instead of new ways for the buried pipes in the pipeline .

Time will only tell after the election. if we are lucky along with their great news the corruption won't turn into the status quo trickle down to nothing except for the Government!

I will be optimistic....but won't be holding my breath as it could easily turn out to be another PipeDream.

Edited December 21, 2007 by Beardog