Thailand Stocks: Panjawattana Plastic, Sri Trang, Thai Union
The SET Index (SET) rose for a second day, climbing 0.4 percent to 1,208.67, the highest close since May 8.
Panjawattana Plastic Pcl (PJW) , a maker of plastic packaging products, climbed 1.5 percent to 4 baht, the highest close since May 8. The company plans to spend 566 million baht ($17.8 million) to build two new buildings and buy machinery at its plants in Chonburi and Samutsakorn provinces, it said in in a regulatory filing.
Sri Trang Agro-Industry Pcl (STA) , Thailand’s largest rubber producer, fell 1.4 percent to 14.30 baht. Rubber futures lost 1.3 percent to end at 244.4 yen a kilogram ($3,081 a metric ton) on the Tokyo Commodity Exchange, the lowest settlement level for the most-active contract since June 29.
Thai Union Frozen Products Pcl (TUF) , Thailand’s largest seafood exporter, gained 1.3 percent to 76.25 baht, its second day of gains. Thai Union may buy companies in Europe and the U.S. as the global economic slowdown spurs consolidation, President Thiraphong Chansiri said in an interview on July 9. The company plans to increase its revenue to $5 billion by the end of 2015 from $3.2 billion last year by boosting sales in Europe and the U.S., its two biggest markets, he said.
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