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Thailand Stocks: Indorama, Khon Kaen, PTT, United Securities

Thailand’s SET Index (SET) rose 9.70, or 1.5 percent, to 640.98 at the close of trading, its largest gain in a week. Almost five shares climbed for each that dropped.

Energy companies: PTT Pcl (PTT) , Thailand’s biggest oil company, climbed 1.7 percent to 236 baht, its biggest gain in two weeks. PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil and gas explorer, advanced 2.2 percent to 140.5 baht. Banpu Pcl (BANPU) , the country’s biggest coal miner, rose 1.5 percent to 402 baht.

Crude oil for September delivery rose 4.7 percent to $72.42 a barrel in New York yesterday, the steepest gain since July 30. The contract was at $72.45 a barrel in after-hours trading as of 5:24 p.m. Bangkok time. A higher oil price increases the allure of alternative fuels such as coal.

Indorama Polymers Pcl (IRP TB), the country’s biggest maker of plastic material used in packaging, jumped 12 percent to 11.8 baht, its highest close since the stock listed in August 2005. The company’s share-price estimate was lifted to 14.50 baht from 13 baht at BNP Paribas, which cited the company’s widening gross profit margin.

Khon Kaen Sugar Industry Pcl (KSL) , the nation’s only publicly traded sugar miller, climbed 4.9 percent to 12.9 baht, the biggest gain in one week. The company expects sales to rise by at least 20 percent in 2010 on rising prices of the sweetener and ethanol, Kao Hoon reported, citing Chalush Chinthammit, a director of the Thai sugar miller. The global sugar price may extend its rally in the second half of this year on falling production in India, the newspaper quoted Chalush as saying.

United Securities Pcl (US) , a stock brokerage, jumped 13 percent to 2.4 baht, the biggest gain since July 27. The company had a net income of 6.36 million baht ($187,000) in the second quarter from a net loss of 18.1 million baht in the same period a year earlier.

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net.

To contact the editor responsible for this story: Linus Chua at lchua@bloomberg.net.

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