Reuters: Hot Stocks: STOCKS NEWS THAILAND-Land & Houses surges ahead of ex-dividend date

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STOCKS NEWS THAILAND-Land & Houses surges ahead of ex-dividend date Aug 23rd 2012, 09:12 Thu Aug 23, 2012 5:12am EDT Shares in Thailand's largest housing developer Land & Houses Pcl climbed as much as 5.3 percent to 8.90 baht as investors bought up the stock before it trades ex-dividend on Friday. The company will pay the first six-month dividend at 0.20 baht per share. "We are likely to see selective buying of dividend stocks today, with selective action in sectors such as banking and property," broker Krungsri Securities said in a research note. "We would continue to reduce medium-term stock portfolio, especially ahead of XD signs being posted," the broker added. Krungsri also suggested that investors may take profit in stocks that have already gone ex-dividend, such as Advanced Info , BEC World, and Total Access Communication , as these are now trading at a high premium to fair values. Shares of Land & Houses were up 3.55 percent at 8.75 baht while the main Thai index was up 0.28 percent. For the company earnings statement, click 1608 (0908 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com) *********************************************************** 12:05 STOCKS NEWS THAILAND-CPN shares at all-time highs; Maybank Kim raises target Maybank Kim Eng raised the target price of Central Pattana Pcl, Thailand's largest shopping-centre developer, to 62.50 baht from 57 baht, citing strong first-half earnings and solid growth prospects for the second-half. The broker maintained its 'buy' rating on the stock. Central Pattana shares were up 1.4 percent at 54.5 baht, rising at one point to its all-time intraday record of 54.75 baht. Optimism about domestic consumption has helped send the stock 43 percent higher this year. That compared with a 21 percent gain of the broader SET index. "We are keeping our positive view on CPN from the resilient growth. The long-term leases that expire will be changed to short-term 3-year contracts with rental rate increases," it said in a report. "CPN still plans to launch 2-3 new projects each year for a total shopping centre count up from 18 to 30 by 2015 with a 42 percent increase in rental space," it said. For the company earnings statement, click 1154 (0454 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:18 STOCKS NEWS THAILAND-Telecoms shares up after 3G licence auction date confirmed Telecoms shares rose in morning trade after it was reported that the National Broadcasting and Telecommunications Commission (NBTC) had confirmed auction dates for the third-generation (3G) licences on the 2,100 megahertz frequency. NBTC's secretary-general Takorn Tantasit said the board had approved the 3G information memorandum with a majority. The licence auction will be held from Oct. 15-20, 2012. "As expected, progress in the 3G licence auction will be a catalyst for telecoms shares. Thus, we rated the shares in this sector overweight," broker DBS Vickers said in a research note. Shares in Shin Corporation led the group having gained 1.82 percent, followed by Total Access at 1.43 percent, while Advanced Info Service was up 0.96 percent, and True Corporation rose 0.48 percent. The main Thai index was up 0.41 percent. 1109 (0409 GMT) (Reporting by Sinsiri Tiwutanond in Bangkok; Editing by Suni Nair; sinsiri.tiwutanond@thomsonreuters.com) Link this Share this Digg this Email Reprints

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