Thailand Stocks: Diamond Building, Minor, Sri Trang, Thai Rubber
Shares of the following companies had unusual moves in Thailand trading. Stock symbols are in parentheses and prices are as of 10:40 a.m. local time in Bangkok.
The SET Index rose 0.38, or less than 0.1 percent, to 1,060.19.
Rubber producers: Rubber futures in Tokyo jumped as much as 1.8 percent to 388.7 yen a kilogram, rebounding from a one-week low.
Sri Trang Agro-Industry Pcl (STA) , Thailand’s biggest publicly traded rubber producer, rose 3.5 percent to 29.25 baht. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB), the second biggest, gained 0.7 percent to 7 baht. Inoue Rubber (Thailand) Pcl rose 0.9 percent to 11.7 baht.
Diamond Building Products Pcl (DRT TB), a maker of roofing tiles, dropped 1.6 percent to 6 baht, poised for its biggest decline since May 24. Roofing-tile sales will decline to 60 percent of Diamond Building’s total sales this year, Kelive Research wrote today in a note to clients. Kelive has a share- price target of 6 baht for Diamond Building.
Minor International Pcl (MINT) , the nation’s biggest hotel and restaurant operator, rose 2.6 percent to 12 baht, headed for the biggest gain since April 29. The company plans to expand the number of its hotel and resort properties to 105 by 2015, from 72, the Nation newspaper reported, citing Chief Operating Officer Dillip Rajakarier. Dillip was in a meeting, and wasn’t immediately available to comment when called at his office in Bangkok.
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