Thailand’s two largest electronic component stocks, HANA and KCE, went strongly higher during Tuesday’s trading session, extending the rally for a second day in a row and tracking the Nasdaq’s upward trend that began last week.
As of 11.27 hrs. local time in Thailand, the share price of Hana Microelectronics Public Company Limited (SET: HANA) rose THB3.25/share or 4.68% to THB72.75/share, with a trading value of THB738 million.
The share price of KCE Electronics Public Company Limited (SET: KCE) rose THB2.75/share or 3.83% to THB74.50/share, with a trading value of THB919 million.
Phillip Securities Thailand said that the move in HANA and KCE share prices this early morning was consistent with the Nasdaq index, which has been steadily recovering since last week after plunging sharply earlier on concerns about the Federal Reserve’s interest rate hike.
Together with the course of product orders, there is a constant flow of demand. Although there may be some issues with component shortages, the fundamentals of both equities remain the same.