Bangkok Post

Trade was modest at 25.84 billion baht with 3.81 billion shares changing hands. Foreign investors were net sellers of 1 billion baht worth of shares on the day. Local institutions sold shares worth 1.24 billion and brokers sold 209.9 million, while retail investors were net buyers of 2.46 billion baht.

Among major movers on Friday were shares of Oishi Group Plc (OISHI), controlled by billionaire Charoen Sirivadhanabhakdi, which dropped 1.2% to 160 baht. Berli Jucker Plc (BJC), another affiliate of Mr Charoen's flagship Thai Beverage Plc, lost 3.6% to 40.50 baht, its biggest loss since since March 22.

The declines were linked to news that Heineken NV, the world’s third-biggest brewer, will offer as much as $6 billion to take over Singapore-based Asia Pacific Breweries Ltd, blocking an attempt by Thai Beverage to build up its stake in the brewer of Tiger beer and Heineken in the region.

The SET50 index of blue-chips ended the day at 836.99 points, down 3.78 points or 0.45%, on turnover of 17.74 billion baht. The SETHD index of high-dividend stocks declined 8.65 points or 0.78% to 1,105.39. The Market for Alternative Investment rose 2.04 points to 303.63, in trade worth 644.44 million baht.

The five most active stocks by value were Advanced Info Service (ADVANC), gaining 2 baht to close at 197; KBANK, down 1 baht to 161.50; PTT Global Chemical (PTTGC), up 25 satang to 60.75 baht; Charoen Pokphand Foods (CPF), down 25 satang to 35 baht; and ADVANC parent INTUCH (formerly Shin Corp), up 25 satang to 652.50 baht.

Among other major movers, CIMB Thai Bank Plc (CIMBT) declined 2.7% to 2.16 baht, the lowest close since June 21, after reporting an 89% year-on-year decline in net profit to 28.7 million baht. Krung Thai Bank climbed 2% to 16.30 baht, halting a three-day slide, after reporting a 40% rise in net profit to 7.34 billion baht.

Indorama Ventures Plc (IVL), the world's largest PET maker, rose 1.6% to 31 baht, the highest close since May 15. The company yesterday started commercial operations of a plant in Nigeria to tap demand in Africa.

In the currency markets, the baht fell slightly on Friday in anticipation of data that may show export growth slowed for a second month in June.

Overseas shipments, accounting for about two-thirds of the Thai economy, rose 4.5% last month after increasing about 7.7% in May, according to the median forecast of economists in a Bloomberg survey. The official figures for June will be rfeleased next Wednesday.

"Real demand conditions show exports are likely to weaken," said Radhika Rao, an economist at Forecast Pte in Singapore. "That would keep the baht on a weakening trend."

The baht was trading late yesterday in Bangkok at 31.64/66 to the dollar, compared with 31.61/63 on Thursday.