Thailand Stocks: Grande Asset, PTT Aromatics, Siam Commercial
Thailand’s SET Index climbed 5.95 points, or 0.6 percent, to 1,019.14 as of the 4:30 p.m. close in Bangkok.
Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, rose 5.3 percent to 34.75 baht, its biggest gain in two weeks. Thai Rubber Latex Corp. Pcl (TRUBB TB), the second biggest, gained 2.1 percent to 7.3 baht. Rubber climbed to a record in Tokyo as signs the economic recovery in the U.S. is gaining strength boosted speculation that demand will grow.
Bangkok Bank Pcl (BBL TB) rose 1.7 percent to 147.5 baht. Thailand’s biggest bank expects lending to expand between 5 percent and 7 percent next year, Chairman Kosit Panpiemras said. Loan growth will be about 5 percent this year, Kosit told reporters in Bangkok today.
Grande Asset Hotels Pcl (GRAND TB), a hotel operator and retailer, soared 30 percent to 2.14 baht, its highest close since January 2009. Metro Premier Holding Co. bought a 70 percent stake in the company, Grande Asset said today.
PTT Aromatics & Refining Pcl (PTTAR TB), operator of Thailand’s second-biggest oil refinery, gained 1.4 percent to 37 baht. Petrochemical prices may rise and profit margins for fuel products may widen next year as demand increases, Chief Executive Officer Bowon Vongsinudom said.
Siam Commercial Bank Pcl (SCB TB), Thailand’s fourth- biggest company by market value, rose 1.5 percent to 104.5 baht, its highest close since Dec. 16. The stock was upgraded to “buy” from “outperform” by Kasikorn Securities, which has a share-price target of 140 baht.
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