Reuters: Hot Stocks: STOCKS NEWS THAILAND-Unemployment rate seen ticking up in 2012-KResearch

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STOCKS NEWS THAILAND-Unemployment rate seen ticking up in 2012-KResearch Sep 4th 2012, 05:05 Tue Sep 4, 2012 1:05am EDT The number of unemployed persons in Thailand were expected to increase to an average of 310,000 in 2012, falling within a projected range of 296,000-325,000 and compared to an average of 254,000 reported last year, according to Kasikorn Research Center. The figure would translate into a rate of 0.8 percent, within a projected range of 0.7-0.8 percent and higher than 0.7 percent rate in 2011, the research house said. Thai job market has been undermined by a number of factors, including eroding competitiveness in certain industries over the past few years, massive flooding late in 2011, global economic fallout since early 2012 and the daily minimum wage increase in April, it said. "Aside from those factors, we expect that rising energy and raw material costs will also test how Thai businesses manage their costs over the remainder of 2012," it said. 1155 (0455 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) ************************************************************ 11:03 STOCKS NEWS THAILAND-CIMB likes retail banks; rate move seen favourable Recent economic data and comments from Thailand's central bankers have pointed increasingly towards a loosening monetary trajectory and any rate cuts would be positive to net interest margins of fixed-rate retail lenders, CIMB Research said. The broker has an 'overweight' rating on the banking sector, with its top picks including Thanachart Capital Pcl TCAP.BK and Bank of Ayudhya Pcl BAY.BK. Thanachart Capital shares were down 0.7 percent at 34.5 baht and Bank of Ayudhya shares were unchanged at 31 baht. The banking subindex .SETB was down 0.1 percent. "The net interest margins of retail-focused banks normally expand in a falling rate environment while the opposite is true for wholesale lenders. The impact also depends on the magnitude of rate moves," CIMB said in a report. The broker expects Thai central bank to keep its policy rate at 3 percent at next three meetings this year. But it believes the next rate cuts by the central bank, if any, will likely be induced by macro deterioration amid the debt crisis in Europe. Fourteen of 16 economists polled by Reuters expected the Bank of Thailand (BOT) to leave its one-day repurchase rate at 3.0 percent when its monetary policy committee (MPC) meets on Wednesday. (Full Story) 1045 (0345 GMT) (Reporting by Viparat Jantraprap in Bangkok; viparat.jantraprapaweth@thomsonreuters.com) Link this Share this Digg this Email Reprints

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