Bloomberg News

Thailand Stocks: Kasikornbank, MCS, Sri Trang Agro, Thai Rubber

January 31, 2012

Jan. 31 (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 rose 0.9 percent to 1,083.97, the highest level since Aug. 18. The gauge gained 5.7 percent this month, its best January performance since 2006 and the biggest monthly advance since October.

Rubber producers: Sri Trang Agro-Industry Pcl (STA TB), Thailand’s biggest rubber producer, climbed 3.9 percent to 21.5 baht, halting a three-day drop. Thai Rubber Latex Corp. (Thailand) Pcl (TRUBB TB) jumped 7.1 percent to 4.8 baht, the highest close since Aug. 17.

Rubber futures rose 1.5 percent to settle at 314.9 yen a kilogram ($4,129 a metric ton) on the Tokyo Commodity Exchange. The contract soared 20 percent this month, the most since July 2009.

Kasikornbank Pcl (KBANK TB), the nation’s third-largest lender by assets, increased 2.4 percent to 129 baht, the highest close since Aug. 22. The bank plans to sell as much as 22 billion baht ($709 million) of bonds to domestic investors next month, Executive Vice President Chongrak Rattanapian told reporters in Bangkok today.

MCS Steel Pcl (MCS TB), a steel producer, increased 1.6 percent to 9.35 baht, the highest close since Sept. 23. MCS completed the purchase of a larger stake in a factory in Xiamen, China, it said in a regulatory filing. The Thai company paid $1.9 million to raise its stake in the unit to 80 percent from 19.8 percent, it said.

--Editor: Matthew Oakley

To contact the reporter on this story: Anuchit Nguyen in Bangkok at anguyen@bloomberg.net

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


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