Reuters: Hot Stocks: STOCKS NEWS THAILAND-Nomura bullish on Thai banks; BBL, KBANK top picks

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STOCKS NEWS THAILAND-Nomura bullish on Thai banks; BBL, KBANK top picks Aug 1st 2012, 03:25 Tue Jul 31, 2012 11:25pm EDT Nomura initiated coverage of the Thai banking sector with a bullish view, saying investment and corporate as well as SME lending are rising strongly from depressed levels, which bode well for the sector's outlook. "Thai banks have performed strongly year to date, but we think this is just the beginning of the strongest profit cycle in 20 years. As ROEs expand from 14 percent to 18 percent into 2014F, we also see P/Bs rising from 1.5x to 2.0x," it said in a report. "Bangkok Bank and Kasikornbank have the highest potential upside; we are relatively negative on TMB and small, retail banks," it said. The bank subindex edged up 0.2 percent, while the broader stock market was down 0.04 percent. The sector has risen about 30 percent so far this year, outperforming a nearly 17 percent gain in the stock market. Shares in Bangkok Bank Pcl rose 0.8 percent to 197.5 baht, gaining 28.7 percent for the year. Kasikornbank shares were up 0.6 percent at 176 baht, rising 44.3 percent this year. TMB Bank fell 0.7 percent to 1.53 baht. 1012 (0312 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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