HANA and KCE rallied on Wednesday after the government approved a tax incentive package to further promote the usage of electric vehicles (EVs) in Thailand.
The share price of KCE Electronics Pcl. (SET: KCE) rose THB3.50/share, or 5.98%, to THB62.00/share, with a trading value of THB902 million.
The share price of Hana Microelectronics Pcl. (SET: HANA) rose THB1.75/share, or 4.07%, to THB44.75/share, with a trading value of THB697 million.
KTBST Securities stated that the Thai cabinet’s approval of a new tax incentive package to further promote the use of electric vehicles (EVs) in Thailand on 25 July was seen as positive for automotive (Neutral) and electronic (Neutral) shares in the future, citing the benefits of supply of auto parts resulting from plans to expand production capacity in the country. Recommending “BUY” on SAT (TP: THB22.50), NER (TP: THB10.00), KCE (TP: THB80.00) and HANA (TP: THB44.00).