Reuters
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STOCKS NEWS THAILAND-Seafresh Industry rises on weaker baht
Fri, Jun 22 01:46 AM EDT

Seafresh Industry Pcl rose 1.22 percent to 8.30 baht on hopes a weaker currency will help its export-driven shares.

Kasikorn Securities rated the shares their top pick, and said the shrimp exporter's gross margins will benefit from a weaker baht in addition to lower shrimp prices. Seafresh rose to a high of 8.45 baht earlier.

The Thai baht edged down to its lowest in two weeks in the morning, dropping to 31.78 baht per dollar, as investors held on to the US dollar and sold currencies of countries whose exporting sectors have been impacted by the global economic slowdown.

Several brokers said they expect Seafresh's shares to continue to rise on Friday, after remaining dormant for 6 days, due to their high trading volume.

1246 (0546 GMT)

Reporting by Sinsiri Tiwutanond in Bangkok; sinsiri.tiwutanond@thomsonreuters.com)


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