Thai Bev (technical)

Thai Bev: is hovering around the critical $0.60 technical level. A close below this could portend further downside to the next support at $0.55. Thai Bev's share price decline comes on the back of a sharp pullback in Thai equities (down 5.5% today), and slide in Thai baht. The prospect of higher interest rates across Asia also raises the credit risk profile of Thai Bev, which has heavily geared up its balance sheet in order to acquire the 29% stake FNN.