On Monday at 11:47 AM (Bangkok time), the share price of Sri Trang Agro-Industry Public Company Limited (SET: STA) jumped by 2.90% or THB 0.70 to THB 24.80, with a trading value of THB 383.23 million.
Thai Eastern Group Holdings Public Company Limited (SET: TEGH) soared by 4.28% or THB 0.16 to THB 3.90, with a trading value of THB 29.30 million.
Thai Rubber Latex Group Public Company Limited (SET: TRUBB) increased by 2.38% or THB 0.03 to THB 1.29, with a trading value of THB 14.10 million.
North East Rubber Public Company Limited (SET: NER) rose by 0.93% or THB 0.05 to THB 5.45, with a trading value of THB 16.31 million.
Yuanta Securities (Thailand) reported that the spike in rubber stock prices was primarily attributed to a 5% rise in rubber prices to 211 cents per kilogram, marking the highest level in seven years.
Krungsri Securities (KSS) highlighted that China’s stimulus efforts for the property sector, announced on Friday, included limitations being lifted on property purchases in major cities such as Shanghai and Shenzhen.
This move aims to encourage prospective homebuyers by permitting individuals from other Chinese cities to buy properties in Shanghai and Shenzhen, which were previously subject to strict controls due to speculation concerns.
Detailed guidelines regarding this policy shift are anticipated to be disclosed within the coming weeks. This development has resulted in a positive outlook for ‘China Play’ stocks, notably including SCC and STA.
