Thailand Stock Movers: G Steel, PTT Exploration, Sri Trang
Shares of the following companies had unusual moves in Thailand trading. (SET) Stock symbols are in parentheses and prices are as of the close in Bangkok.
The SET Index increased 1 percent to 1,043.75, the first gain in three days. The measure has risen 1.1 percent this year.
Energy companies: PTT Pcl (PTT) , Thailand’s biggest energy company, rose 1.6 percent to 321 baht, its biggest advance since Dec. 1. PTT Exploration & Production Pcl (PTTEP) , the largest publicly traded explorer, advanced 3.6 percent to 171.50 baht. Crude futures in New York jumped as much as 1.3 percent in electronic trading, gaining for a third day. PTT Exploration also won concessions to drill for oil and gas in two additional areas in Myanmar, the Bangkok Post reported, citing Energy Minister Pichai Naripthaphan.
Rubber producers: Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, gained 1.7 percent to 18.2 baht, its biggest gain in two weeks. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB) climbed 1.2 percent to 3.36 baht. Rubber futures in Tokyo rose as much as 3.1 percent to 279.7 yen a kilogram.
G Steel Pcl (GSTEEL) , a manufacturer of hot rolled coil steel, slumped 9.8 percent to 0.37 baht, the steepest drop since Oct. 4. ArcelorMittal scrapped a plan to buy a stake in the Thai steelmaker, G Steel said today in a regulatory filing.
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