Thailand Stocks: Indorama, Khon Kaen, Thai Vegetable, Sri Trang
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 2.76, or 0.3 percent, to 980.60.
Indorama Ventures Pcl (IVL TB), the nation’s biggest maker of chemicals for plastic bottles and polyester, jumped 7.6 percent to 42.5 baht, extending yesterday’s 8.2 percent rally. Indorama Resources, Indorama Ventures’ biggest shareholder, reaffirmed a commitment to exercise an option for the subscription of 346.6 million new shares, the company said yesterday.
Khon Kaen Sugar Industry Pcl (KSL TB), Thailand’s only publicly traded sugar miller, climbed 3.9 percent to 13.4 baht, the steepest advance since Jan. 4. Sugar futures in New York surged to a 30-year high yesterday on mounting concern that global supplies will trail demand following crop damage in Australia and India, two of the world’s leading producers.
Sri Trang Agro-Industry Pcl (STA TB), the country’s biggest publicly traded rubber producer, gained 3.1 percent to 33 baht. Rubber futures jumped by the most in three months in Tokyo, rising to a record as crude oil’s rally boosted the appeal of the commodity and rain in Asian growing regions curbed output.
Thai Vegetable Oil Pcl (TVO TB), the nation’s largest soybean supplier, rose 1.8 percent to 28.75 baht. Soybean futures in Chicago rose to a 30-month high yesterday on bets that governments and producers of food and livestock feed will boost purchases to increase inventories amid mounting political and labor tensions from Argentina to Egypt.
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