Thailand Stock Movers: Krung Thai Bank, Shin Corp., Thai Airways
The SET Index (SET) rose 0.6 percent to 1,065.30, heading for the highest close since Sept. 8.
Krung Thai Bank Pcl (KTB) , the state-controlled lender, gained 1.3 percent to 15.10 baht, set for the highest close since Dec. 26. Net income in 2011 increased 14 percent to 17 billion baht ($539.5 million) as fee and lending income rose.
Shin Corp. Pcl (INTUCH) (INTUCH TB), a telecommunication holding company, climbed for a sixth day, advancing 2.7 percent to 47.25 baht, the highest since March 2006. Cedar Holdings Ltd., a unit of Temasek, sold 200 million shares, or a 6.2 percent stake in the company, Shin said in a filing on Jan. 19. The share sale has reduced liquidity risk and boosted investors’ interest in Shin’s shares, Athaporn ArayaSantiparb, an analyst at UOB-Kay Hian Securities (Thailand) Pcl in Bangkok, said by phone today.
Thai Airways International Pcl (THAI) , the nation’s largest carrier, increased 2.2 percent to 23.20 baht, extending a 3.7 percent increase on Jan. 20 and heading for the highest close since Sept. 23. The airline filled about 79 percent of available passenger seats in January, from 68 percent the previous month, President Piyasvasti Amranand said on Jan. 20.
To contact the reporter on this story: Anuchit Nguyen in Bangkok at firstname.lastname@example.org
To contact the editor responsible for this story: Darren Boey at email@example.com