Reuters: Hot Stocks: STOCKS NEWS THAILAND-Kasikornbank gains on strong loan growth

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STOCKS NEWS THAILAND-Kasikornbank gains on strong loan growth Jun 22nd 2012, 08:51 Fri Jun 22, 2012 4:51am EDT Shares in the country's fourth-largest lender Kasikornbank Pcl inched up 2.24 percent to 160 baht, tracking gains in the broader banking index, and boosted by strong loan growth in May. The banking index was up 0.19 percent at 0843 GMT. Broker DBS Vickers said the banking sector, excluding Krung Thai Bank and CIMB Thai Bank, has seen good loan growth momentum in May -- up 1.2 percent from the previous month and 14.6 percent higher from the previous year. The broker rated Kasikornbank as one of its two top picks in the sector, along with Bangkok Bank, with a better-than-expected expansion in corporate and small-to-medium enterprises (SME) loan growth. "Kasikornbank is leading in SME clients with its strong asset quality, lowest non-performing loan ratio and highest net interest margin within the major banks," DBS Vickers said in a research note. Kasikornbank's peer Bangkok Bank fell 1.1 percent at 180.50 baht, while the main Thai index fell 0.94 percent. 1541 (0841 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ************************************************************ 12:47 STOCKS NEWS THAILAND-Seafresh Industry rises on weaker baht Seafresh Industry Pcl rose 1.22 percent to 8.30 baht on hopes a weaker currency will help its export-driven shares. Kasikorn Securities rated the shares their top pick, and said the shrimp exporter's gross margins will benefit from a weaker baht in addition to lower shrimp prices. Seafresh rose to a high of 8.45 baht earlier. The Thai baht edged down to its lowest in two weeks in the morning, dropping to 31.78 baht per dollar, as investors held on to the US dollar and sold currencies of countries whose exporting sectors have been impacted by the global economic slowdown. Several brokers said they expect Seafresh's shares to continue to rise on Friday, after remaining dormant for 6 days, due to their high trading volume. 1246 (0546 GMT) Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) ************************************************************ 11:21 STOCKS NEWS THAILAND-S Khonkaen climbs to month high; index falls Shares of S Khonkaen Foods Pcl climbed 1.74 percent to a month's high of 73.25 baht on expectations that the meat products maker's business is less likely to be affected by the global economic slowdown. Broker DBS Vickers (Thailand) rated the shares a 'buy' with target price at 90.50 baht. "We see that their processed pork and seafood products are part of the food industry that has a strong growth outlook, while their main market is within the country, so they can take benefit from high purchasing power," DBS Vickers said. "Only 10 percent of the products are exported, therefore the global economic slowdown should only have slight negative effects on the company," the broker added. DBS Vickers also forecast S Khonkaen's profit growth for 2012 and 2013 to jump 209 percent and 23 percent, respectively. Shares in the meat products maker hit their highest at 74.25 baht during earlier trading, against a 1.01 percent fall in the main Thai index. 1118 (0418 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com); Editing by Jijo Jacob Link this Share this Digg this Email Reprints

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