Reuters: Hot Stocks: STOCKS NEWS THAILAND-July macro data bolsters Thai banks - Nomura

Reuters: Hot Stocks Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

STOCKS NEWS THAILAND-July macro data bolsters Thai banks - Nomura Sep 3rd 2012, 06:54 Mon Sep 3, 2012 2:54am EDT Nomura said macroeconomic data released by the Bank of Thailand for July reinforced its view that Thailand's private investment cycle was underway, underpinning a recovery in corporate and SME lending in the second half. Bangkok Bank Pcl, which was the biggest player in corporate and SME lending, was its top pick in the sector, the broker said in a report dated Aug. 31. "Both private investment and corporate/SME lending are rising from depressed levels, implying positive surprises to both earnings and the re-rating of Thai banks. Hence, it appears the '20-year wait' is over," it said. Nomura was also including Kasikornbank Pcl in a basket of best ideas on a 6-12 month investment horizon, according to its Asia Pacific Strategy Focus List report dated Sept 3. "KBANK has built on its leading position in the SME sector by enhancing its retail franchise through significant distribution expansion and upgrading its IT platform since 2005," it said. At the midsession break of 0530 GMT, Bangkok Bank shares were up 2.7 percent at 193 baht, rising 25.7 percent in 2012, while Kasikornbank shares gained 1.8 percent to 172 baht, pushing them up 41 percent in the year. The banking subindex had gained 27.6 percent so far this year. 1339 (0639 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 12:55 STOCKS NEWS THAILAND-Srithai Superware hits 13-year high Shares in Srithai Superware Pcl SITH.BK jumped to their highest level in 13 years amid optimism about strong demand for its melamine and plastic products among household and industrial users. At the midsession break of 0530 GMT , Srithai shares were up 6. 2 percent at 20.7 b aht, having hit 20.8 baht earlier in the session, the highest since May 1999. The stock had risen 145 percent so far this year, far above the 20.6 percent gain in the broader SET index .SETI. Bualuang Securities has a 'buy' rating on the stock, with a target price of 28 baht. It has raised 2012 and 2013 earnings projections by an annual 16 percent each to 502 million baht ($16.02 million) and 577 million baht ($18.41 million), respectively. "The forecast of solid earnings growth is supported by stronger household product sales and solid prospects for industrial product sales ... 2013 plastic sales should jump 20 percent because the revenue contribution from PepsiCo," it said. The two analysts tracking the stock rated it a 'strong buy' and 'buy', according to Thomson Reuters StarMine. 1242 (0542 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ($1 = 31.335 baht) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions