CFRESH – ASIAN in Bad Shape for Fear of Revoking GSP, TU Declines the Least
The share prices of firms related to seafood business declined after the U.S. had just revoked Thai’s GSP which included all seafood products.
On October 28, 2019, the share prices of three listed companies related to seafood business all declined after the U.S. had just revoked Thai’s Generalized System of Preferences (GSP) which included all seafood products.
As of 11:08 local time in Thailand, the share price of Industry Public Company Limited (CFRESH) plunged by ฿0.12/share or 6.12% to trade at ฿1.84/share. The highest share price was ฿1.94/share and the lowest was ฿1.82/share with a trading value of 820,680 baht.
Asian Seafoods Coldstorage Public Company Limited (ASIAN) plunged ฿0.40/share or 7.41% to trade at ฿5.00/share. The highest share price was ฿5.15/share and the lowest was ฿4.96/share with a trading value of 2.4 million baht.
Thai Union Group Public Company Limited (TU) declined ฿0.40/share or 2.86% to trade at ฿13.60/share. The highest share price was ฿13.70/share and the lowest was ฿13.30/share with a trading value of 192 million baht.
The reason for TU’s share to decline the least might due to the statement yesterday from Mr. Thiraphong Chansiri, CEO of TU, who stated that there will be no material impact on its operations after the United States Trade Representative (USTR) announced that it was ending some trade preferences for Thailand.