Thailand Stocks: Grande Asset, Nam Seng, Noble, Sri Trang Agro

Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.

The SET Index rose 6.57, or 0.7 percent, to 994.48.

Grande Asset Hotels & Property Pcl (GRAND TB), a Thai hotel and property developer, rose by a 30 percent daily limit to to 2.9 baht. The company had net income of 733.4 million baht ($24 million) in 2010 compared with a net loss of 544.3 million baht a year earlier.

Nam Seng Insurance Pcl (NSI TB), a Thai insurance company, jumped 8.1 percent to 30 baht, the largest increase since Feb. 15. Net income in 2010 rose 59 percent to 100.8 million baht.

Noble Development Pcl (NOBLE TB), a property developer, surged 19 percent to 7.1 baht, the most since June 2001. Profit in 2010 more than tripled to 998.3 million baht.

Pan Asia Footwear Pcl (PAF TB), Thailand’s biggest shoemaker, dropped 11 percent to 1.44 baht, halting a two-day, 56 percent gain. The company’s net loss widened to 600.1 million baht in 2010, from 303.8 million baht in the previous year.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, gained 6.3 percent to 29.5 baht, the most since Jan. 6. Rubber in Tokyo advanced for the first time in eight days as a decline to the lowest level in a month attracted buyers and U.S. data showing higher personal incomes raised optimism about global economic growth prospects.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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