Reuters: Hot Stocks: STOCKS NEWS THAILAND-Quality Houses gains on strong presales hopes

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STOCKS NEWS THAILAND-Quality Houses gains on strong presales hopes Jun 21st 2012, 08:25 Thu Jun 21, 2012 4:25am EDT Quality Houses gained 1.2 percent to 1.68 baht, having hit an intra-day high at 1.73 baht, outperforming the broader market. Brokers remained positive on the company's outlook, on expectations that improving presales momentum and asset monetisation will boost Quality's 2012 earnings. Krungsri Securities upgraded its rating on the real estate developer to 'speculative buy' with target price of 2.05 baht, while Kasikorn Securities maintained an 'outperform' rating and a target price of 2.30 baht. "Quality Houses' presales momentum is gradually showing signs of real improvement. Its year-to-date presales until early June reached 6.5 billion baht ($206.5 million)...the company guided for a sound recovery in demand in the mid- to low-end landed property segment and continuing strong demand in the overall condo segment," Kasikorn said. "Since Quality Houses was able to demonstrate strong recovery in presales and its plan to divest three serviced apartments into its property fund, we expect the company's 2012 earnings to see a 155.4 percent growth," Krungsri said. 1508 (0808 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ($1 = 31.5 Baht) ************************************************************ 12:14 STOCKS NEWS THAILAND-Thai Air rises most in a month Shares in Thai Airways rose 2.22 percent to their highest in a month against a 0.89 percent drop in the main index . The national carrier hit its highest at 23.10 baht during earlier trade. Broker Capital Nomura Securities expects the company to return to profitability in the third quarter due to improved percentage of passenger seats sold, or cabin factor, and weaker oil prices. Capital Nomura gave Thai Airways a 'buy' rating with target price at 34 baht. "The recovery in cabin factor in May will likely become a positive factor for Thai Airways as second quarter's results will see a significant decrease in losses compared to the previous year," the broker said in a research note. "Although it is only receiving slight benefits from weaker oil prices at the moment, third quarter's outlook suggests a return to profitability due to recovering cabin factor and oil prices are expected to continue to fall," it said. 1155 (0455 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) *********************************************************** 11:23 STOCKS NEWS THAILAND-Energy shares fall after oil prices hit 18-month low Shares in energy companies fell after global oil prices hit their lowest in 18 months on Wednesday. World oil prices tumbled more than 3 percent to their lowest in a year and a half, as data showed U.S. crude inventories unexpectedly swelled and investors were disappointed at measures the Federal Reserve announced to aid the economy. The broader energy index fell 1.15 percent, while the main Thai index was down 0.6 percent. Broker KTB (Thailand) recommended short-term speculative buy on energy shares including PTT Pcl, PTT Exploration and Production Pcl, PTT Global Chemical, Thai Oil Pcl, and Bangchak Petroleum Pcl. "The share prices in these companies were directly impacted by the weakening of oil prices in the global market last night," KTB said in a research note. "These losses will contribute to a stock loss in the second quarter's financial statement, which in turn will weaken the quarter's overall net profit. A factor that was not caused by core operation," the broker added. At 0400 GMT, PTT was down 1.51 percent, PTT Exploration and Production fell 1.17 percent, PTT Global Chemical lost 1.72 percent, while Thai Oil and Bangchak Petroleum were down 1.25 percent and 0.42 percent, respectively. (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) Link this Share this Digg this Email Reprints

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