Thailand Stocks: Electricity Generating, Thai Stanley, Thai Rung
The SET Index (SET) rose 0.8 percent to 1,173.09, the highest close since May 17.
Auto-parts makers: Thailand’s vehicle sales more than doubled in May to 115,943 units, a monthly record, Toyota Motor Corp.’s Thai unit said in an e-mailed statement today.
Thai Stanley Electric Pcl (STANLY) climbed 3.2 percent to 196.50 baht, the most since May 2. Chai Watana Tannery Pcl (CWT) advanced 2.9 percent to 2.16 baht, the highest close since May 8. Thai Rung Union Car Pcl (TRU) gained 1.1 percent to 9.65 baht.
Electricity Generating Pcl (EGCO) , a power producer, increased 2.3 percent to 110 baht, the highest close since Jan. 19. The company plans to spend about 450 million baht ($14.3 million) to acquire SPP Five Co. Ltd., which is building a solar power plant in Roi Et province, it said in a regulatory filing today.
Siam Commercial Bank Pcl (SCB) , the country’s third- largest lender by assets, climbed 1.8 percent to 144 baht, the highest close since May 17. Siam Commercial is in talks with Thailand’s finance ministry to buy a 26 percent stake in TMB Bank (TMB) Pcl through a share swap, Thai-language Kao Hoon reported, citing an unidentified ministry official. Ongorn Abhakorn Na Ayuthaya, a spokeswoman for Siam Commercial Bank, said in a text message that the report has “no ground in fact.” TMB Bank (TMB TB), a lender controlled by ING Groep NV, dropped 0.6 percent to 1.55 baht.
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