Thai stocks in electronic components jump as weaker baht favours exports

The electronic-component sector on the Stock Exchange of Thailand (SET) sparked on Monday as a drop in the baht prompted speculation on exports. The ETRON index jumped 702.86 points or 7.79 per cent to 9525.51 points by the end of morning trading.

The baht stood 30.12 baht per US$, depreciating from the previous 30.07 baht. After the morning session closed, Hana Microelectronics (HANA) showed the largest value in traded stock of the sector with 1.7 billion baht, and the largest price jump of 9.57 per cent to 51.50 baht.

KCE Electronics (KCE) rose 3 per cent to 51.50 baht per share, with a trading value of 413.4 million baht. Nex Point (NEX) rose 7.42 per cent to 4.92 baht, with a trading value of 266 million baht.

SVI rose 7.59 per cent to 5.10 baht, with a trading value of 144.55 million baht. Delta electronics (DELTA), also rose 8.36 per cent to 778.00 baht, with a trading value of 1.4 billion baht. Delta was put on cash balance status by the bourse last Tuesday, meaning investors must hold a cash balance before buying its equity.

An analyst at DBS Vickers Securities said that baht has weakened since Friday and fluctuated all day according to the profit-taking moves of investors.

The weakening of baht will benefit electronics such as DELTA, HANA, and KCE but not foreign investors, he said. Meanwhile, Finansia Syrus Securities was recommending “buy” on HANA while its price holds above the resistance point of 46.50 baht, indicating positive momentum.

MayBank Kim Eng analyst suggested that HANA’s performance in 2020 will be the lowest point in seven years with an expected profit of around 1.7 billion baht, down 6 per cent year-on-year, in line with the fall in global smartphone demand.

“We have a positive view on HANA growth in 2021 and 2022 that net profit could grow 17  and  9 per cent, respectively, backed by the return of smartphone customers starting in the first quarter of 2021.”

Stock Price Info

Stock Fundamental

Peer Comparison

Stock Price Chart

Advertisement -

COVID-19

Pandemic pushed 1.5 million Thais into poverty in 2020, World Bank says

An additional 1.5 million Thai citizens fell below the poverty line in 2020 as a result of...
Advertisement -
Advertisement -

Latest article

Pandemic pushed 1.5 million Thais into poverty in 2020, World Bank says

An additional 1.5 million Thai citizens fell below the poverty line in 2020 as a result of the economic impact of the...

Thanathorn defends questioning of vaccine plan, says lese-majeste charge politically motivated

Former Future Forward leader Thanathorn Juangroongruangkit said on Thursday that the government is using the lese-majeste law to silence his questioning of...

KBANK soars 8 per cent on better-than-expected results

Kasikornbank (KBANK) reported better-than-expected fourth-quarter earnings at 13.2 billion baht on Thursday, surging both quarter-on-quarter and year-on-year. The result led the bank’s...

Local infections rises above contact tracing in Thailand; 142 total cases found

Thailand’s Ministry of Public Health said on Thursday that the number of local infections has outpaced those found through the government’s contact...

Online fury at lese-majeste charges against Thanathorn

The hashtag #saveธนาธร (save Thanathorn) was trending on Thai Twitter Thursday as netizens protestsed lese-majeste charges against former leader of the now-disbanded...

Opinion: Biden resets our perception of the US but will it last?

Yesterday, Joe Biden was sworn into office ending Donald Trump's tumultuous four years in office. In his time as president, Trump exercised...