Reuters: Hot Stocks: STOCKS NEWS THAILAND-Seafresh Industry rises on weaker baht

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STOCKS NEWS THAILAND-Seafresh Industry rises on weaker baht Jun 22nd 2012, 05:46 Fri Jun 22, 2012 1:46am EDT 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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