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 9.09 points, or 0.9 percent, to 1,026.28, the first advance in three days.
Banks: Siam Commercial Bank Pcl (SCB) , Thailand’s fourth-biggest lender by assets, gained 2.3 percent to 113.5 baht. Krung Thai Bank Pcl (KTB) , the second-biggest, climbed 2.2 percent to 18.3 baht. Siam Commercial Bank and Krung Thai are JPMorgan Chase & Co.’s top bank picks in the nation, analysts Anne Jirajariyavech and Josh Klaczek wrote in a report today.
Mobile-phone companies: Total Access Communication Pcl (DTAC) , Thailand’s second-biggest mobile-phone company, increased 2.7 percent to 75.5 baht, a record close. Advanced Info Service Pcl (ADVANC) , the largest, added 2.5 percent to 124 baht. True Corp. Pcl (TRUE TB) rose 1.5 percent to 3.96 baht.
Thailand’s regulator may sell licenses for third-generation wireless services by as early as the second quarter amid pressure from consumers seeking faster download speeds, Jon Eddy Abdullah, chief executive officer of Total Access, said in an interview.
Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, dropped 3.2 percent to 21.4 baht, the lowest close since Oct. 6. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) fell 1.6 percent to 3.64 baht, the lowest close since May 2010.
Rubber futures in Tokyo slumped to the lowest level in four weeks after Italy’s credit rating was cut by Standard & Poor’s, deepening concern that Europe’s debt crisis is spreading and stalling the economic recovery.
Thainox Stainless Pcl (INOX) , a unit of South Korea’s Posco, gained 1.9 percent to 2.2 baht. The company named Hyo- Seok Song, a representative from Posco, as new president, it said in an e-mailed statement today.
To contact the reporter on this story: Anuchit Nguyen in Bangkok at firstname.lastname@example.org.
To contact the editor responsible for this story: Darren Boey at email@example.com