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MarketScreener Homepage  >  Equities  >  STOCK EXCHANGE OF THAILAND  >  PTT Public Company Limited    PTT   TH0646010Z00

PTT PUBLIC COMPANY LIMITED

(PTT)
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Southeast Asia stocks: Most fall ahead of Fed policy decision; Thailand top loser

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09/18/2019 | 06:17am EST
A man walks past screen at the Indonesia Stock Exchange building in Jakarta

(Reuters) - Most Southeast Asian stock markets declined in thin trading on Wednesday as investors were cautious ahead of an expected U.S. interest rate cut, with Thailand shedding the most on a drop in oil prices.

With a 25-basis point U.S. rate cut seen as near-certain, investors will look at the Fed's statements for clues on the future policy direction of the central bank.

"In the absence of any surprise in the rate move, investors will be looking at the message from the FOMC in the statement and subsequent press conference," said Nick Twidale, director and co-founder, Xchainge.

"The risk probably sits once again with a hawkish cut and if this comes to fruition, then expect stock markets to take a hit along with risk trades overall."

Thai shares fell 0.6% to their lowest close in two weeks and were the biggest losers in the region as tumbling oil prices pressured the country's energy stocks.

Oil and gas producers PTT PCL and PTT Exploration and Production PCL dropped 3.7% and 4.6%, respectively. Singapore benchmark index <.STI> extended losses to a third straight session as financials faltered.

Malaysian shares <.KLSE> ended at their lowest in over one week as a drop in palm oil prices weighed on producers of the commodity.

Kuala Lumpur Kepong Bhd closed at an over one-month low, while edible oil distributor PPB Group Bhd slipped 1.6%.

Bucking the trend, the Indonesian benchmark index <.JKSE> inched up ahead of a central bank interest rate decision on Thursday.

Bank Indonesia is expected to cut its benchmark rate for the third meeting in a row, to support growth, according to a Reuters poll.

Tobacco company Gudang Garam Tbk PT was among the top gainers as it rose 1.5%, following a 20% slump earlier in the week on a government mandate to slap higher taxes and hike cigarette costs 2020 onwards.

An index of Jakarta's forty-five most liquid stocks <.JKLQ45> was 0.5% higher.

(Reporting by Anushka Trivedi in Bengaluru; Editing by Aditya Soni)

By Anushka Trivedi

Stocks mentioned in the article
ChangeLast1st jan.
GUDANG GARAM TBK PT End-of-day quote.
KUALA LUMPUR KEPONG BERHAD End-of-day quote.
PPB GROUP BHD End-of-day quote.
PTT EXPLORATION AND PRODUCTION PCL End-of-day quote.
PTT PUBLIC COMPANY LIMITED End-of-day quote.
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Financials (THB)
Sales 2019 2 218 B
EBIT 2019 198 B
Net income 2019 107 B
Debt 2019 249 B
Yield 2019 3,86%
P/E ratio 2019 13,5x
P/E ratio 2020 11,1x
EV / Sales2019 0,70x
EV / Sales2020 0,67x
Capitalization 1 292 B
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 50,89  THB
Last Close Price 45,25  THB
Spread / Highest target 39,2%
Spread / Average Target 12,5%
Spread / Lowest Target -11,6%
EPS Revisions
Managers
NameTitle
Chansin Treenuchagron President, CEO, Secretary & Director
Krairit Euchukanonchai Chairman
Auttapol Rerkpiboon COO-Downstream Petroleum Business Group
Pannalin Mahawongtikul Chief Financial Officer
Supattanapong Punmeechaow Director
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