SET watching abnormal trades
The Stock Exchange of Thailand (SET) said the same group of speculators was probably behind recent abnormal trading in Everland Plc, Agripure Holdings Plc and Mida Medalist Entertainment Plc shares.
Suthichai Chitvanich, executive vice president of the SET, said yesterday that the bourse was keeping an eye on trading volume as well as the stock price of Everland, which had moved abnormally over the past two weeks.Trading orders for Everland have been made through several brokerages. Although trading of the property firm's stock has been abnormal it has not entered the range that would prohibit net settlement trading and margin loans for the stock. Everland's stock price has risen from Bt4 two weeks ago to close at Bt9.3 yesterday. Turnover was Bt95.64 million yesterday, compared to Bt260 million on Tuesday. Suthichai added that the SET would consider whether to permit net settlement trading and margin loans for Mida Medalist Entertainment and Agripure Holdings stock. The two have been banned from net settlement trading and margin loans for months. Thai shares took the hardest blow among regional peers yesterday, with the SET index shedding almost 2 per cent to 680.72 on knee-jerk reactions to the six North Korean missile tests. Turnover was moderate at Bt10.94 billion but foreign investors remained net buyers of Thai shares to the tune of Bt993.71 million. The US dollar closed at Bt38.15, up from Bt37.90 at the Asian close on Tuesday, after moving between Bt37.95 and Bt38.20 in intra-day trade. Siam Commercial Bank dropped 3.3 per cent to Bt58.50, PTT fell 3.3 per cent to Bt232 and Rayong Refinery was off 2.6 per cent at Bt19.10. Siriporn Chanjindamanee, The Nation
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