Thailand Stocks: Kasikornbank, PTT Exploration, 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 8.22 points, or 0.8 percent, to 1,041.48, the highest close since June 6. The gauge dropped 0.6 percent this quarter, the first quarterly decline in two years. The nation’s financial markets will be closed tomorrow for banks’ mid-year break.
Kasikornbank Pcl (KBANK) , Thailand’s third-largest lender by assets, increased 2.5 percent to 123 baht, the highest close since May 31. Kasikornbank will report “strong” earnings growth in the second quarter on an increase in lending and interest margins, Woraphon Wiroonsri, an analyst at Kim Eng Securities (Thailand) Pcl, the nation’s largest stock brokerage, wrote in a note today. Woraphon, who wrote the report after meeting Kasikornbank executives, reiterated his “buy” rating on the stock with a price forecast of 148 baht.
PTT Exploration & Production Pcl (PTTEP) , the nation’s only publicly traded oil explorer, gained 1.8 percent to 171 baht, the highest close since June 14. Crude rose for a third day, erasing declines since the International Energy Agency announced the release of emergency stockpiles on June 23.
Siamgas & Petrochemicals Pcl (SGP) , the country’s second-largest supplier of liquefied petroleum gas, or LPG, rose 2.3 percent to 17.9 baht, the most since June 10. The government will raise prices of LPG for industrial use from tomorrow to help reduce the burden of subsidies on the budget, Prime Minister Abhisit Vejjajiva said today.
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