Shares of Sri Trang Agro-Industry Public Company Limited (SET: STA) and its subsidiary Sri Trang Gloves (Thailand) Public Company Limited (SET: STGT) continued to climb for the third consecutive day, buoyed by robust growth in Thailand’s rubber exports last October.
Thailand’s exports in October surpassed analyst predictions, and the pace of growth was the highest in three months. The commerce ministry expects a robust growth in Q4 2024 to outpace the full-year target.
In October, exports, a significant factor in the economy of Southeast Asia’s second-largest country, increased by 14.6% year-on-year, dramatically topping the predicted 5.2% rise in a Reuters survey. This follows a 1.1% increase in September.
Rubber exports surged by 32.6% year-on-year, marking the twelfth consecutive month of growth. Companies like STA, North East Rubber Pcl., and Thai Eastern Group Holdings Pcl. are typically well-positioned to benefit from this trend.
In the Thursday morning session on November 28, 2024, STA’s shares rose by 1.67% to 18.30 baht. At the same time, STGT, Thailand’s leading rubber gloves producer, saw its shares jump by 5.83% to 10.90 baht.
