The share price of Hana Microelectronics Public Company Limited (SET: HANA) rose THB2.25 or 4.62% to THB51.00 per share, its three-month high as the market anticipated that the electronics industry would benefit from the report of HP relocating some of its production to Thailand.
The price rose as much as 5.64% during the session on Tuesday.
Earlier, Nikkei Asia reported that the American PC maker HP is working with suppliers to shift a portion of its consumer laptop production to Thailand, while some commercial notebook computer production will go to Mexico by this year.
Nikkei also cited the source, saying that HP is also looking to move some laptop production to Vietnam next year.
HP is the world’s second largest PC maker, based on shipments after China’s Lenovo.
Thailand’s electronics industry is mainly focusing on exports as the kingdom already has a handful of PC suppliers.
According to HANA’s 56-1 One Report (Thai) for its 2018 business operation, HANA, who deals with multinational companies, mentioned that one of its customers in the U.S. is also HP, but did not specify the category of product it provided to the PC maker.
The positive sentiment in the electronics sector also came from the bullish Nasdaq that closed nearly 1% higher yesterday. ASL Securities stated that the recovery in South Korea’s car exports for the second straight month is a positive sentiment to the semiconductor producers and also a sigh of recovery in exports in Asia.
Meanwhile, the share price of other electronics component suppliers in Thailand such as KCE and DELTA also rose 1.91% and 2.40%, respectively.