Thai Hot Stocks-PTT Chemical surges on earnings outlook

BANGKOK, Nov 4 - Thailand's stock index <.SETI> was up 2.28 percent at 683.69, in line with most reginal markets, on thin turnover of 13 billion baht at 0845 GMT on Wednesday.

Stocks on the move included:

PTTCH <PTTC.BK> UP ON EARNINGS OPTIMISM

PTT Chemical surged 5.8 percent to 63.75 baht on expectations that the country's largest olefins maker would report its best quarterly earnings of the year for the third quarter.

PTTCH, due to release July-September earnings next week, is expected to report net profit of 3.2 billion baht, up 48 percent from the previous quarter, but down 36 percent from a year earlier, Ayudhya Securities said in a note.

0843 GMT

BANK SHARES <.SETB> UP ON UPBEAT 2010 OUTLOOK

The banking subindex rose nearly 2 percent, boosted by gains in third-largest lender Siam Commercial Bank and fourth-ranked Kasikornbank <SCB.BK>, on optimism the sector would benefit from an economic recovery, which should boost loan growth next year.

Kasikornbank was up nearly 2 percent at 77.75 baht, while Siam Commercial Bank rose nearly 1 percent to 77.25 baht.

Fifth-largest lender Bank of Ayudhya <BAY.BK> climbed 3.9 percent to 18.60 baht, while top lender Bangkok Bank <BBL.BK> gained 1.4 percent to 113 baht.

0431 GMT

CP FOODS <CPF.BK> UP ON UPBEAT Q3 EARNINGS

Charoen Pokphand Foods was up 1.6 percent at 9.45 baht on expectations that the country's biggest chicken exporter would report strong earnings growth for the third quarter.

Kim Eng Securities said in a note it expected the company's net profit to double to a record high of 3.48 billion baht due to higher incomes from all business units and low raw material costs.

0435 GMT

PTTEP <PTTE.BK> REBOUNDS FROM FOUR-MONTH LOW

Shares in PTT Exploration and Production rose nearly 2 percent to 132 baht, rebounding from a four-month low of 128 baht hit on Tuesday, after the firm said it had plugged an oil well in the Timor Sea that had leaked for over two months. [ID:nSYD410182]

But the gain is expected to be limited by concern that the start-up of the Montara field in the Timor Sea might be delayed for one year instead of a quarter, which would affect PTTEP's earnings in 2010, dealers said.

Top energy firm PTT <PTT.BK>, a parent of PTTEP, was up 0.9 percent at 230 baht after hitting a four-month low of 227 baht on Tuesday.

0333 GMT

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