Reuters: Hot Stocks: STOCKS NEWS THAILAND-Thai banks led market rebound

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STOCKS NEWS THAILAND-Thai banks led market rebound Jun 6th 2012, 08:33 Wed Jun 6, 2012 4:33am EDT Banking shares led a rebound on Thailand's main SET index as investors saw good value in stocks that have been beaten down in the wake of anxiety over the euro zone debt crisis and concerns about the domestic political situation. The bank sub-index was up 2.3 percent, outpacing a gain of 1.9 percent by the SET index. It has been one of the worst performing stock sub-indexes on the Thai bourse so far in June, falling 5.9 percent to Tuesday, against a loss of 3.7 percent by the broader market. Broker KGI Securities said the banking sector was among its top picks. "In the next 2-3 months, the two sweet spots for the Thai economy remain private investment and consumption ... industrial parks, retail, banks and materials are four sectors that fit into the theme," it said in a report. The biggest bank Bangkok Bank Pcl rose 2.06 percent, Kasikornbank Pcl gained 2.08 percent and Siam Commercial Bank Pcl climbed 2.7 percent. Fitch Ratings said on Wednesday it had affirmed the ratings of the three banks, expecting their performance to remain strong compared with the domestic banking industry, supported by strong domestic franchise, lower funding costs and improving fee-generating capacity. 1505 (0805 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 13:40 STOCKS NEWS THAILAND: Nation Multimedia soars on earnings hopes Shares in media firm Nation Multimedia Group Pcl NMG.BK pushed higher amid hopes of an earnings turnaround and a possible dividend payout for the first time in eight years. Nation shares were up 6.1 percent at 1.05 baht ($0.03) at the midsession break at 0530 GMT, putting them up 52 percent for the year, outpacing a 9.1 percent gain of the benchmark SET index .SETI. Kasikorn Securities rate the stock outperform, with target price of 2 baht each. "After a long and painful period, the group has fully recovered from the 1997 Asian financial crisis. Nation Multimedia Group's turnaround is mainly being driven by 2 units - Publishing and Broadcasting," the broker said in a report. Kasikorn says the Nation's plan to clear its retained loss via a par reduction to 0.53 baht from 1.0 baht in August will allow the media firm to pay its first dividend since 2004, with a 100 percent payout possible. 1327 (0627 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) *********************************************************** 12:29 STOCKS NEWS THAILAND: True Corp up on mobile business outlook Shares in True Corp Pcl TRUE.BK, owner of Thailand's third-biggest mobile phone network, rose as much as 1.7 percent after the company on Tuesday said it expects its mobile business to break even by the year-end, driven by growth in t hi r d-generation subscribers. (Full Story) By 0525 GMT, True Corp shares were trading up 0.58 percent at 3.46 baht ($0.11). They climbed at one point to 3.5 baht, reversing a 1.2 percent decline in early trade and the combined 8.1 percent loss of the previous three sessions. "This is quite an optimistic view compared to our projection and we are still uncertain... In the telecoms sector, we think AIS offers better fundamentals and we like it for high dividend payouts," said an analyst at KGI Securities. True has risen 9.6 percent so far this year to Tuesday, underperforming a 26 percent gain by top mobile phone firm Advanced Info Service Pcl ADVA.BK. Second-ranked Total Access Communication Pcl DTAC.BK, gained 10.1 percent during the period. 1225 (0525 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.65 baht) Link this Share this Digg this Email Reprints

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