Thailand Stocks: CP All, PTT Exploration, Sri Trang, Thai Oil
Thailand’s SET Index rose 14.59, or 1.5 percent, to 1,004.72 at the 4:30 p.m. close, the most in two weeks. The gauge lost 3.8 percent in the past two days, the biggest two-day decline since the period ended May 25.
CP All Pcl (CPALL TB), Thailand’s biggest convenience store operator, jumped 5.1 percent to 41 baht, the most since Sept. 27. The company was upgraded to “buy” from “hold” at Bualuang Securities Pcl, which said it’s “good time to reload” the stock after its recent decline.
PTT Exploration & Production Pcl (PTTEP TB), the nation’s only publicly traded oil explorer, rose 2 percent to 180.5 baht. The company plans to swap its entire debt of 75 billion baht ($2.5 billion) into dollars in the next 1-2 years as most of its investments and sales are dollar-denominated, the company’s executive vice president Chatchawal Eimsiri told reporters today.
Sri Trang Agro-Industry Pcl (STA TB), the country’s biggest publicly traded rubber producer, gained 5.7 percent to 32.25 baht, the steepest advance since Nov. 2. Rubber in Tokyo rebounded amid speculation that lower prices may attract buyers as supply from Southeast Asian producers remains tight.
Thai Tap Water Supply Pcl (TTW TB), the nation’s biggest non-state water supplier, gained 4.3 percent to 6.1 baht, rebounding from its lowest level since Oct. 7. “It’s time for the stock to rebound as the share price is very attractive after the recent decline,” said Jitra Amorthum, the head of research at Finansia Syrus Securities Pcl in Bangkok, who has a “buy” rating on the stock.
Thai Oil Pcl (TOP TB), the biggest oil refiner by market value, climbed 2.9 percent to 61.5 baht. The company plans to invest as much as $1 billion from 2011 to 2015 to expand its business and improve efficiency, Chief Executive Officer Surong Bulakul said today.
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