Thailand Stocks: PTT Exploration, Thai Union, Thai Vegetable

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

The SET Index (SET) rose 0.2 percent to 1,199.09, halting a three-day decline.

Seafood producers: Thai Union Frozen Products Pcl (TUF) , the nation’s largest seafood exporter, jumped 5 percent to 74.25 baht, a record close. Seafresh Industry Pcl (CFRESH) surged 8.9 percent to 6.70 baht, the highest since July 2002. Asian Seafoods Coldstorage Pcl (ASIAN) advanced 1.9 percent to 4.40 baht.

Thai seafood exporters will be prime beneficiaries of a government policy favoring a weaker baht, Dome Kunprayoonsawad, Country Group Securities analyst, said today. Lower shrimp prices will also widen profit margins, he said.

PTT Exploration & Production Pcl (PTTEP) , Thailand’s only publicly traded oil explorer, climbed 1.2 percent to 176.5 baht. PTT Exploration expects to sign contracts in May to explore for oil and gas in Myanmar’s Block G and Block EP2 concession areas, Chief Executive Officer Anon Sirisaengtaksin said today in a mobile-phone text message.

Thai Vegetable Oil Pcl (TVO) , the nation’s largest soybean supplier, rose 5 percent to 21 baht, the most since Jan. 11. On March 30, soybean futures for May delivery surged 3.5 percent to close at $14.03 a bushel on the Chicago Board of Trade, the biggest gain since Oct. 11.

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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