Tourism-related stocks edged higher on Wednesday as Thailand entered peak travel season and the baht remained weak.
As of 11.11 A.M. Thai time, the share price Minor International Pcl. (SET: MINT) rose THB1.50/share, or 5.56%, to THB28.50/share, with a trading value of THB707 million.
The share price Central Plaza Hotel Pcl. (SET: CENTEL) rose THB2.00/share, or 4.06%, to THB51.25/share, with a trading value of THB119 million.
The share price S Hotels and Resorts Pcl. (SET: SHR) rose THB0.12/share, or 3.47%, to THB3.58/share, with a trading value of THB70 million.
According to Finansia Syrus Securities (FSS), the rise in MINT, CENTEL, and SHR share prices was linked to Thailand entering peak tourism season and the baht remaining weak. The baht was recently traded against the dollar at THB38.00. This leads in the influx of foreign tourists to Thailand.
FSS has set a target price for MINT at THB43.00, CENTEL at THB54.00 and SHR at THB5.00.