During the intra trading of the morning session on Wednesday, the share price of PTT Global Chemical Public Company Limited (SET: PTTGC) surged as high as 3.34% or THB 0.80 to THB 24.70, with a trading value of THB 1.57 billion.
Indorama Ventures Public Company Limited (SET: IVL) rose as high as 4.46% or THB 1.00 to THB 23.40, with a trading value of THB 748.75 million.
SCG Packaging Public Company Limited (SET: SCGP) increased as high as 3.14% or THB 0.60 to THB 19.70, with a trading value of THB 426.92 million.
The Siam Cement Public Company Limited (SET: SCC) grew as high as 1.95% or THB 4.00 to THB 209.00, with a trading value of THB 1.06 billion.
The rise in the ‘China Play’ stocks came following reports of positive sentiment regarding the agreement between China and the U.S. to extend tariff negotiations by another 90 days. However, stocks pared gains at the end of the morning session as buying pressure in the Thai stock market slowed down.
Kasikorn Securities (KS) noted that shares of PTTGC and IVL received a positive sentiment after the U.S. and China concluded their third round of trade talks in Stockholm. The U.S. delegation will return to Washington to discuss with President Trump the approval of a 90-day extension to the tariff truce between the two countries.
President Trump stated he will make a decision after receiving a report from the negotiating team on Wednesday. He also rejected offers from several countries to partially open their markets—such as by 30% or 50%—insisting instead on full market access to ensure that U.S. goods can enter foreign markets freely and on equal terms.
Meanwhile, DBS Vickers Securities stated that the petrochemical sector stands to benefit from positive sentiment as the Chinese government plans to control excess commodity supply under its “anti-involution” campaign, which aims to curb excessive competition. If successful, this policy could support higher petrochemical prices and spreads. The brokerage firm pointed to IVL as its top-pick stock for the sector.
