Shares of Thailand’s chipmaker surged on Tuesday, following a rally in US tech markets last night, with Apple Inc. stock closing at their first all-time high in more than a year on Monday.
As of 11.32 A.M. Bangkok time, the share price of Hana Microelectronics Pcl. (SET: HANA) rose THB2.50/share, or 5.49%, to THB48.00/share, with a trading value of THB449 million.
The share price of KCE Electronics Pcl. (SET: KCE) rose THB1.50/share, or 3.82%, to THB40.75/share, with a trading value of THB307 million.
The share price of Delta Electronics (Thailand) Pcl. (SET: DELTA) rose THB2.25/share, or 2.26%, to THB102.00/share, with a trading value of THB623 million.
The technology industry in the United States is experiencing a paradigm shift thanks to a boom in artificial intelligence (AI), which is lifting stock prices and exceeding forecasts in 2023. Since January, the technology-focused ASX 200 index is up 20% while the broader Nasdaq-100 index is up just under 35%.
The rising popularity of AI has fueled a rally in the stock prices of numerous technology businesses. Stocks of companies like chipmaker NVIDIA, and META, the parent company of Facebook, have risen 161% and 112%, respectively, so far in 2023.
According to analysts at Yuanta Securities, today’s rise in shares of Thailand’s chipmaker was fueled by a rally in US tech markets, with the Nasdaq closing 1.53% higher overnight, led by Apple Inc. stock settling at its first all-time high in over a year. Since Thailand does not yet have any manufacturing to offer AI technology, this was just bolstering investors’ sentiment.
