Thailand Stocks: Country Group, Bangkok Bank, G Steel, Kim Eng

Thailand’s SET Index (SET) rose for a second day, climbing 14.27, or 1.6 percent, to close at 900.37, its highest level since Nov. 1, 2007.

Stock brokerages: Kim Eng Securities (Thailand) Pcl, the country’s largest stock brokerage, rose 2.3 percent to 13.5 baht, the highest close in one month. Phatra Securities Pcl (PHATRA TB), the second-biggest brokerage by market value, gained 3.4 percent to 24.1 baht, the highest level since September 2008. Asia Plus Securities Pcl (ASP) , the third-largest stock brokerage, climbed 3.9 percent to 2.12 baht.

Share trading turnover averaged 39.8 billion baht ($1.27 billion) a day this week, a 9.9 percent increase from a week earlier, according to the Stock Exchange of Thailand’s data.

Bangkok Bank Pcl (BBL) , Thailand’s biggest lender, rose 2.2 percent to 142 baht, the most in one week. The bank increased its interim dividend to 1.5 baht a share for the first half earnings, from 1 baht in the same period last year.

Country Group Securities Pcl (CGS) , a stock brokerage, increased 4.7 percent to 0.89 baht, the steepest advance since July 23. Country Group will offer to buy an additional 25 percent stake in MFC Asset (MFC) Management Pcl at 13.2 baht a share, it said in a regulatory filing. MFC Asset (MFC TB), the nation’s third-biggest mutual fund company, 5.3 percent to 13.8 baht.

G Steel Pcl (GSTEEL) , a steelmaker, jumped 6.8 percent to 0.63 baht, extending yesterday’s 28 percent rally and its highest close since October 2008. G Steel plans to offer as many as 5.1 billion new shares to bondholders, it said in a regulatory filing yesterday. The share offering is part of the plan to restructure $170 million in bonds, it said.

Ratchaburi Electricity Generating Holding Pcl (RATCH) , the nation’s biggest private power producer, rose 1.3 percent to 38 baht, its highest close since Nov. 11. The company maintained the interim dividend at 1.1 baht a share for its first-half earnings, unchanged from the same period last year. The company kept the interim dividend even as first-half earnings dropped 24 percent from 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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