Speculative shares sold after rumour

Thai Unique Coil Centre yesterday plummeted to the day's floor limit at 30 per cent to end at Bt6.30. The stock has dropped 45 per cent since last Wednesday.

Better World Green dropped 29.94 per cent to Bt5.50. The stock has plunged 31 per cent since close of trading last Wednesday.

One analyst said shares in both companies had slumped since the morning trading session yesterday, due to rumours that a deep-pocketed investor had been forced sell these stocks, triggering the selling spree.

Meanwhile, Rich Asia Steel slumped 47.92 per cent to 25 satang. Given its share price of less than Bt1, the 30-per-cent ceiling and floor regulations do not apply to the stock, which has been fallen 65 per cent since last Wednesday's close.

Rich managing director Somkiat Wongsaroj said he had no idea why his company's stock slumped so badly.

"I really don't know why investors dumped Rich shares," he said. "It may be personal reasons of the investors, but it has nothing to do with the company's business. The stock price is below Bt1, so it can move up or down without limit."

Siam Gas and Petrochemicals slumped 15.06 per cent to Bt7.05, SEC Auto Sales and Services 15.45 per cent to Bt4.16 and Metrostar Property 24.34 per cent to Bt2.30.

 Bliss-Tel, Live Inc and Inter-national Engineering (IEC) also slumped yesterday after the Stock Exchange of Thailand said their first-quarter income contributed from investment portfolios exceeded Securities and Exchange Commission regulations.

Yesterday, Bliss-Tel lost 7.27 per cent to Bt0.51, Live Inc 1.89 per cent to Bt4.16 and IEC 0.47 per cent to Bt4.20.