3G Bidding Halt Drags Down AIS, DTAC, TRUE Stocks

3G bidding halt drags down AIS, DTAC, TRUE stocks

BANGKOK (NNT) -- Stocks of three main telecommunication service companies in Thailand, comprising AIS, DTAC, and TRUE have been shrinking continuously after the Supreme Administrative Court has suspended the 3G license auction.

According to the report as of 9.58 hrs on Thursday morning, the ADVANC stock of AIS stood at 90.75 THB, decreasing by 1 THB while DTAC was at 39.00 THB, moving down by 0.75 THB. The TRUE stock descended by 0.34 THB to stand at 4.60 THB.

The decisions of investors to continuously sell the three telecommunication stocks have been influenced by the recent ruling of the Supreme Administrative Court about a 3G license auction arrangement of the National Telecommunication Commission.

The Supreme Administrative Court ruled to suspend the bidding in line with the judgment of the Administrative Court earlier.

Nevertheless, based on an analysis, overall figure of the Thai stock market would move up as a result of the ongoing capital influx. Therefore, the support line is anticipated to stand at 940 points while the resistance line at 955 points.

-- NNT 2010-09-23