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Thailand Equity Movers: Krung Thai Bank, Italian-Thai, Sri Trang

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Dec. 26 (Bloomberg) -- 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 fell 0.5 percent to 1,032.51, dropping for a third straight session. Losses today erased the gauge’s gains for this year.

Italian-Thai Development Pcl (ITD TB), Thailand’s biggest construction company, gained 1.1 percent to 3.74 baht, the highest close since Dec. 13. The company expects to sign loan agreements next year valued at $12.5 billion to develop a deepsea port, industrial complex and power plants in Myanmar, Chairman Premchai Karnasuta said.

Krung Thai Bank Pcl (KTB TB), the nation’s second-biggest lender, rose 0.7 percent to 15.1 baht, the largest gain since Dec. 21. The company is seeking opportunities to expand into neighboring Myanmar, Bangkok Post reported, citing President Apisak Tantivorawong.

Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest publicly traded rubber producer, slid 1.1 percent to 18.2 baht. Rubber retreated from a two-week high on concern that demand from China, the world’s largest consumer, may weaken on slowing economic growth and vehicle sales.

To contact the reporter on this story: Daniel Ten Kate in Bangkok at dtenkate@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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