Shares in Charoen Pokphand Foods Pcl lost as much as 5.3 percent on expectations the food company would report weak earnings for the second quarter due to higher costs and weak meat prices.
At the midsession break of 0530 GMT, Charoen Pokphand Foods shares were down 3.95 percent at 36.5 baht ($1.16), falling at one point to 36 baht, the lowest since May 24.
About 83 million shares had changed hands, 4.4 times the average full-day volume in the last 30 days. The broader stock market was down 0.14 percent.
Maybank Kim Eng Securities expected April-June earnings to fall 20-30 percent. Higher feedstock prices increased costs of production for chicken and pork while selling prices were lower than last year when low supply helped boost prices, it said.
The broker kept buy rating for the stock, citing an improving outlook, with target price of 44.5 baht.
"We do expect earnings to recover in the third quarter along with improving meat prices. CPF is estimated to resume exporting 10,000 tonnes of frozen chicken to European Union after the ban lifting from July 1," it said in a report.
1309 (0609 GMT)
(Reporting by Viparat Jantraprap in Bangkok; firstname.lastname@example.org)