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Thailand’s Equity Movers: Indorama Ventures, TMB Bank

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 fell 0.5 percent to 1,037.37, paring this week’s gain to 0.3 percent.

Indorama Ventures Pcl (IVL TB), Thailand’s largest maker of polyester and plastic packaging material, rose 0.8 percent to 30.5 baht, a one-week high. The company said in a statement that it established a subsidiary in the Netherlands to hold its acquisition in Wellman International.

TMB Bank Pcl (TMB TB), a Thai lender controlled by ING Groep NV, fell 1.2 percent to 1.64 baht, reversing an earlier gain of 3 percent. Korea Development Bank spokesman Park Chan Ho denied a report in the Kao Hoon newspaper today that the Seoul-based bank may buy a stake in TMB.

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