KCE and HANA booked a gain in the morning session of Wednesday, September 15, as the Thai baht continues to weaken and demand for electronic components remains strong throughout 2023.
As of 11:49 local time in Thailand, the share price of Hana Microelectronics Public Company Limited (HANA) rose ฿1.50/share or 2.03% to ฿75.50/share, with a trading value of 518 million baht.
Meanwhile, the share price of KCE Electronics Public Company Limited (KCE) rose ฿0.50/share or 0.63% to ฿80.25/share, with a trading value of 753 million baht.
According to Capital Nomura Securities (CNS), electronic component stocks increased as the baht depreciated and demand recovered after concerns over oversupply eased. CNS believes it will benefit the electronic component market and export stocks. However, due to the coronavirus pandemic, some equipment was in short supply, resulting in some shipment delays.
CNS forecasts that the demand for electronic components will continue to be high until 2023. Thus, CNS recommends a “BUY” rating on KCE with a target price of 87.70 baht and HANA with a target price of 89.00 baht.