Stocks in Thailand’s electronics sector fell at the midday break on Friday, with losses led by HANA, KCE, and DELTA. Analysts say the drop in European auto stocks after Tesla reported a decline in net income and announced further price cuts contributed to a negative sentiment among investors.
The share price of Hana Microelectronics Pcl. (SET: HANA) dropped THB3.75/share, or 7.94%, to THB43.50/share, with a trading value of THB427 million.
The share price of KCE Electronics Pcl. (SET: KCE) dropped THB1.75/share, or 4.09%, to THB41.00/share, with a trading value of THB306 million.
The share price of Delta Electronics (Thailand) Pcl. (SET: DELTA) dropped THB20.00/share, or 2.08%, to THB940.00/share, with a trading value of THB497 million.
Yuanta Securities believes the electronics decline was due to the same factors that led to the decline in European auto stocks: Tesla’s announcement of a drop in net income and further price cuts, coupled with a growth outlook on the consumer electronic market that is likely to fall short of expectations, and currency that remained fluctuating.
