On Friday at 2:32 PM (Bangkok time), the share price of PTT Global Chemical Public Company Limited (SET: PTTGC) surged 1.00% or THB 0.25 to THB 25.25, with a trading value of THB 163.48 million.
Indorama Ventures Public Company Limited (SET: IVL) advanced by 2.37% or THB 0.50 to THB 21.60, with a trading value of THB 247.21 million.
Krungsri Securities (KSS) highlighted an improving outlook for Thailand’s petrochemical sector, particularly naming IVL and PTTGC as beneficiaries. The brokerage firm stated that investor sentiment is currently focused on the upcoming Fourth Plenum of the Chinese Communist Party, scheduled for October 20-23.
Expectations are high that Chinese policymakers will unveil new economic stimulus measures as well as a medium-term five-year development plan during the meeting. The firm notes that such announcements would be positive for stocks linked to China’s domestic economic growth, providing an encouraging backdrop for the petrochemical sector going forward.
