Shares of KCE-HANA Soar after Nasdaq Index Advances by 2%

As of 11.25 hrs. local time in Thailand, the share price of KCE Electronics Public Company Limited (SET: KCE) rose THB2.25/share or 3.54% to THB65.75/share, with a trading value of THB741 million.

The share price of Hana Microelectronics Public Company Limited (SET: HANA) rose THB1.75/share or 3.57% to THB50.75/share, with a trading value of THB513 million.

An gain in electronic stock prices was in line with tech stocks in the U.S., where the Nasdaq jumped about 2% as investors picked up tech stocks in response to the U.S. Federal Reserve’s interest rate hike.

Maybank Securities (Thailand) (MST) said that the current share price of KCE is considered priced in the issues about machinery in the early stages of production capacity expansion.  Meanwhile, the purchase orders are still significant, combined with the direction of the baht that continued to depreciate. This should be a good time to gradually accumulate stocks to capture the increase in production capacity in the next period. Recommend “BUY” with a target price of THB70.00 per share.