Reuters: Hot Stocks: STOCKS NEWS THAILAND-Foreign fund flows push Thai stocks to 16-year high

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STOCKS NEWS THAILAND-Foreign fund flows push Thai stocks to 16-year high Apr 4th 2012, 07:44 Wed Apr 4, 2012 3:44am EDT Foreign fund flows into the Thai stock market have crept up this year, channelled mostly into major sectors such as banking and telecoms. Thailand had seen the strongest inflows among major Southeast Asian emerging markets this year, with 85.4 billion baht ($2.77 billion) in net foreign purchases, according to Thomson Reuters data. Indonesia has enjoyed $1.3 billion of foreign inflows and the Philippines $952 million. Foreign flow data for Singapore and Malaysia is not available. Thailand's benchmark SET index has risen 18.12 percent this year, making it Southeast Asia's second-best performing bourse, trailing a 26.8 percent gain in the small Ho Chi Minh Stock Exchange. The Thai banking subindex has risen 24 percent and the telecoms subindex 27 percent. At the midsession break on Wednesday, the SET index was down 0.25 percent at 1,207.99 amid weakness elsewhere in Asia. It had climbed to 1,210.80 at one point, just shy of a a 16-year high. 1418 (0718 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************* 10:46 STOCKS NEWS THAILAND-Chicken exporters up after report EU lifts ban Shares in chicken exporters pushed higher after a report the European Union had lifted its ban on Thai frozen chicken imports, with leader Charoen Pokphand Foods Pcl up 2 percent at 37.75 baht and GFPT PCL up 6 percent at 10.7 baht. According to the Bangkok Post daily, the European Union decided on Tuesday to lift an import ban on raw poultry from Thailand in place since a bird flu outbreak in 2004. Several brokers, including Tisco Securities and DBS Vickers Securities, advised investors to buy the stocks. CIMB Securities (Thailand) said Charoen Pokphand Foods was its top pick in the sector, with a target price of 48 baht. "This will bring a significant increase in volume to CPF's poultry exports, which accounted for 6.5 percent of its sales in 2011 ... We believe the EU's decision will heighten pressure on Japan to end its ban on Thai poultry imports as well," the broker said. 1036 (0336 GMT) (Reporting by Viparat Jantraprap) Link this Share this Digg this Email Reprints

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