BANGKOK, April 20 (Reuters) – Thailand’s benchmark stock
index .SETI was up 2.76 percent at 469.41, its highest since
Jan. 7, at midsession on Monday, buoyed by buying of energy
.SETEN and petrochemical shares .SETPT despite recent
political violence.
“With the political situation temporarily defused and
commodity prices stabilising, we recommend investors to
overweight commodity plays,” Kim Eng Securities said in a
research note.
Stocks on the move included:
STEEL MAKERS UP ON HOPES OF MEGA PROJECTS
Top hot-rolled steel coil maker Sahaviriya Steel Industries
SSI.BK jumped 13 percent to 0.43 baht, Bangsaphan Barmill
BSBM.BK rose 7.4 percent to 1.02 baht and Tata Steel
(Thailand) TSTH.BK, the largest steel bar maker, surged 13.3
percent to 1.11 baht.
Investors were positive on the steel firms in the short
term due to hopes that the government would continue the
construction of mass transit projects in Bangkok, analysts
said.
0529 GMT
BANK OF AYUDHYA (BAY.BK) OUTPERFORMS SECTOR
The country’s fifth biggest lender surged nearly 6.0
percent to 9.75 baht, its highest since Jan. 9, after
Thailand’s TRIS Rating upgraded the bank’s rating to “AA-” from
“A+”. The rating reflected the bank’s improved financial
performance, improved asset quality and growing franchise
value.
0532 GMT
KASIKORNBANK KBAN.BK UP ON BETTER-THAN-FORECAST Q1
Thailand’s fourth-largest lender rose 1.04 percent to 48.75
baht after it reported a 14 percent drop in quarterly net
profit due to falling income because of slowing loan demand and
softer margins, although the profit was higher than expected.
[nBAK000730]
However, the stock underperformed the banking subindex
.SETB which rose 1.55 percent.
0319 GMT
PTT AROMATICS AND REFINERY (PTTAR.BK) EXTENDS GAINS
Thailand’s largest olefins maker rose 1.55 percent to 13
baht, having hit a six-month high of 13.20 baht in early trade.
The company said it had completed upgrading its production
capacity to increase jet fuel and diesel capacity. [nBKK449846]
0325 GMT
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($1=35.43 Baht)
(Reporting by Arada Therdthammakun; Editing by Alan Raybould)