Thai Shipping Stocks Rise in Anticipation of China Exiting Covid Zero

Friday saw a little increase in shipping stocks led by RCL, TTA, and PSL on hopes that China would loosen its border controls even further.

The share price of Regional Container Lines Pcl. (SET: RCL) rose TH1.50/share or 5.50% to THB28.75/share, with a trading value of THB148 million.

The share price of Thoresen Thai Agencies Pcl. (SET: TTA) rose THB0.25/share or 3.18% to THB8.10/share, with a trading value of THB73 million.

The share price of  Precious Shipping Pcl. (SET: PSL) rose THB0.30/share or 2.14% to THB14.30/share, with a trading value of THB94 million.

According to CGS-CIMB Securities, shipping stock prices rose during Friday’s morning session on speculation that China might reopen its borders after a report said that authorities in Beijing are going to look into further loosening of the Zero-Covid policy.