Shipping stocks surged on Wednesday, led by PSL, RCL, and TTA, as the Baltic Exchange’s main sea freight index rose 1.1% yesterday, rebounding from a 2-month low.
As of 11.23 hrs. local time in Thailand, the share price of Precious Shipping Pcl. (SET: PSL) rose THB0.90/share or5.11% to THB18.50/share, with a trading value of THB271 million.
The share price of Regional Container Lines Pcl. (SET: RCL) rose TH1.50/share or 3.57% to THB43.50/share, with a trading value of THB107 million.
The share price of Thoresen Thai Agencies Pcl. (SET: TTA) rose THB0.25/share or 2.69% to THB9.55/share, with a trading value of THB78 million.
The expert stated that the increase in shipping stock prices was due to the BDI rebounding from its 2-month low yesterday by 1.1% to 2,284 points, as China’s economic data from May exceeded expectations. In May, industrial production rose by 0.7% compared to the same month a year prior, versus an expected 0.7% drop.
