Thailand Equity Mover Column: Indorama Ventures, Lohakit Metal
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 0.8 percent to 1,127.10, a one-week high. The gauge advanced 1.1 percent this week, the first weekly increase in five.
Indorama Ventures Pcl (IVL) , the nation’s largest maker of polyester, jumped 6.7 percent to 28 baht, the steepest advance since Feb. 15. Cotton futures yesterday rose 5.7 percent to settle at 72.28 cents a pound in New York, the biggest gain since Dec. 8, 2008. Polyester is a substitute for cotton.
Lohakit Metal Pcl (LHK) , a producer of steel products, dropped 2.8 percent to 2.56 baht, the largest decline since Feb. 14. Investors who buy the company’s stock from today won’t be entitled to its cash dividend of 0.14 baht a share.
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