Thailand Stocks: Italian-Thai, M Link Asia, SC Asset, Sino-Thai

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 surged 48.80, or 4.7 percent, to 1,090.28, the most since April 20, 2010. Trading turnover was 63 billion baht ($2.1 billion), the highest since Dec. 8.

Companies linked to Thaksin Shinawatra’s family: The party linked to exiled former Thai leader Thaksin won yesterday’s parliamentary majority.

SC Asset Pcl, a property developer controlled by his family, jumped 12 percent to 15.4 baht, the highest close since February 2004. M Link Asia Corp. Pcl (MLINK TB), a mobile-phone handset distributor, surged 25 percent to 2.22 baht, the most since October 2008. Advanced Info Service Pcl (ADVANC) , the mobile-phone company founded by Thaksin, gained 6.7 percent to 111 baht.

Construction companies: Italian-Thai Development Pcl (ITD) , the biggest construction company, rose 30 percent to 4.60 baht, a record gain. Ch. Karnchang Pcl (CK TB) increased 7.1 percent to 8.25 baht. Toyo-Thai Corp. Pcl (TTCL TB) climbed 4.8 percent to 8.79 baht.

Construction companies including Italian-Thai will benefit from the new government’s plan to build more mass transit systems, DBS Vickers Securities (Thailand) Co. wrote in a report today.

Rubber producers: Sri Trang Agro-Industry Pcl (STA) , the nation’s biggest publicly traded rubber producer, added 6.7 percent to 28 baht, the largest increase since April 4. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) rose 1.8 percent to 5.65 baht.

Rubber futures in Tokyo and Shanghai climbed on speculation demand may increase after U.S. manufacturing unexpectedly accelerated in June and Japan’s Tankan survey showed that companies expect demand to pick up, a sign the global economy is rebounding.

Sino-Thai Engineering & Construction Pcl (STEC) , Thailand’s second-biggest construction company, controlled by the family of caretaker Interior Minister Chavarat Charnvirakul, slumped 5 percent to 11.50 baht, the largest drop since Jan. 25. The Bhum Jai Thai party, headed by Chavarat, will become an opposition party after Yingluck Shinawatra, whose party won a majority in yesterday’s parliamentary election, excluded it from the new coalition government.

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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