Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of the 4:30 p.m. close in Bangkok.
The SET Index rose for a third day, gaining 24.25, or 2.3 percent, to 1,086.32. Thailand’s financial markets were closed Aug. 12 for a public holiday.
Airports of Thailand Pcl (AOT TB), the nation’s biggest airfield operator, gained 9.8 percent to 47.50 baht, its biggest advance since April 20, 2010. The company is the “top pick as a proxy for rising travel demand given its resilient earnings profile and least exposure to operational challenges,” DBS Group Holdings Ltd. wrote today in a note to clients. The stock was also raised to “buy” from “hold” at Phillip Securities Thailand Pcl, which has a 12-month target price of 52.50 baht for the shares.
Amata Corp. Pcl (AMATA TB), Thailand’s biggest developer of industrial land, rose 3.5 percent to 14.90 baht, its highest close since Aug. 3. The company said second-quarter net income rose 19 percent to 167.7 million baht ($5.6 million) as revenue from real estate sales increased.
PTT Pcl (PTT TB), the nation’s biggest company, rose 3.8 percent to 327 baht, its largest gain in six weeks. Second-quarter profit almost doubled to 32.5 billion baht as income at PTT’s refining and petrochemical units surged, the company said after the market close on Aug. 11.
Singer Thailand Pcl (SINGER TB), a retailer of electrical goods, surged 21 percent to 5.80 baht, its highest close since March 2005. The company said second-quarter net income doubled.
Thai Wire Products Pcl (TWP TB), a maker of wire used in construction, advanced 11 percent to 14.70 baht, its biggest gain in more than a year. The company said net income jumped 40 percent in the second quarter.