Thai Hot Stocks-Index down; THAI, AOT up

BANGKOK: Thailand's benchmark stock index was down 0.05 percent at 1,068.61 at 0418 GMT on Friday in light trading volume of 5.95 billion baht ($198 million).

Stocks on the move:

AIRPORTS OF THAILAND HITS MORE THAN 1-MTH HIGH

Shares in Airports of Thailand rose 1.55 percent to 49 baht, having hit their highest since July 26 of 49.50 baht at one stage, after Citigroup said it has started its coverage with a "buy" rating and a target price of 52.40 baht, citing a positive earnings outlook due to strong air-traffic growth in Thailand.

THAI AIR GAINS ON BROKER RATING UPGRADE

National carrier Thai Airways International Pcl (THAI) rose about one percent to 25.75 after Kim Eng Research said it had uprgraded THAI shares to a "speculative buy" from "hold" on signs of a recovery in the second half of 2011 and expectations of ongoing improvement afterwards.

Declining fuel costs should also improve the company's performance, it said, giving a target price of 32.50 baht.

PTTEP DOWN ON CONCERN OVER CAPITAL-RAISING PLAN

Thailand's top oil and gas explorer slid 2.9 percent to 168.50 baht on concerns of growing risks over the company's possible capital-raising plan, analysts said.

The share dropped following a Reuters report that said the company is expected to consider raising more than $1 billion in equity to finance expansion and acquisition plans, prompting the risk fr analysts said.

Copyright Reuters, 2011