Reuters: Hot Stocks: STOCKS NEWS THAILAND-Banks rise on positive loan data

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STOCKS NEWS THAILAND-Banks rise on positive loan data May 24th 2012, 09:36 Thu May 24, 2012 5:36am EDT Banking stocks rose nearly 2 percent after the sector reported strong loan growth in April, with market leader Bangkok Bank Pcl gaining 2 percent and Kasikornbank climbing 2.8 percent. Nine commercial banks posted a 15 percent increase in loans in April and a 4 percent rise for the first four months of this year. KGI Securities has an overweight rating on the banking sector, with Bangkok Bank and Kasikornbank its top picks. "Lending growth was on track at 4.0 percent year to date, and our talks with the banks indicated that loan demand remains robust in their pipelines over the remainder of the year," it said in a note to clients. "We expect Bangkok Bank and Kasikornbank to show strong lending growth in the second half and eventually meet our full-year targets," it added. 1556 (0856 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 14:06 STOCKS NEWS THAILAND: Kasikorn raises Siam City Cement to outperform Kasikorn Securities upgraded Siam City Cement Pcl SCCC.BK to "outperform" from "neutral", citing a positive earnings outlook for the country's second-largest cement maker on rising cement demand and construction activity. The broker also raised its price target on the stock to 345 baht ($10.95) from 333 baht. By the midsession break at 0530 GMT, Siam City Cement was up 1.4 percent at 290 baht, having risen as high as 292 baht at one point, bucking softness in the broader market .SETI which had eased 0.4 percent. "The 12 percent correction in Siam City Cement's share price over the last 13 trading days has provided a suitable entry point below 300 baht," the broker said in a report. "We maintain a positive outlook on the cement business and expect accelerating construction activity during the current quarter to be a key driver for top line growth across the sector," it said. The broker said it expected Siam City Cement to report a 15 percent net profit increase for the April-June quarter to 1.2 billion baht ($38.07 million), with market conditions likely to relatively remain buoyant in the second half of the year. 1334 (0634 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:10 STOCKS NEWS THAILAND: Miner Banpu advances on sales projection Shares in the country's biggest coal miner, Banpu Pcl BANP.BK, gained more than 3 percent after the company said it was confident of meeting its 2012 sales target and expected to retain a margin of 48 percent. Banpu shares have dropped nearly 30 percent in the past three months, hovering around a 2 1/2 year low early this week, amid concerns a drop in global coal prices could affect the company's earnings. "The falling coal price was a negative factor but we think the weakness in the stock was over-discounted and it's now a buying opportunity," said Viwat Techapoonphol, a strategist at Tisco Securities. Banpu shares have been on a downward trend partly due to widespread short-selling in market big caps, Viwat added. By 0400 GMT, the stock was trading up 1.29 percent at 470 baht, climbing at one point to 480 baht. For the company statement, click (nL4E8GO14W) 1027 (0327 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.52 baht) Link this Share this Digg this Email Reprints

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