Thai electronics stocks continued to trade in a negative territory, following a decline in the Nasdaq Composite last night that brought the index into correction territory.
As of 15:21 local time in Thailand on January 20, 2022, the share price of KCE Electronics Public Company Limited (SET: KCE) dropped 1.31% to Bt75.50 per share.
Hana Microelectronics Public Company Limited (SET: HANA) fell 1.32% to Bt74.50 per share.
Somboon Advance Technology Public Company Limited (SET: SAT) decreased 1.73% to Bt22.70 per share.
The share price of KCE, HANA and SAT fell 9.73%, 10.39% and 4.55%, respectively, in the past five trading sessions.
According to the Relative Strength Index 14 Days, the reading pointed KCE and HANA into oversold territory with 7 and 15.65 readings. Meanwhile, the reading for SAT is 41.09.
The Nasdaq Composite entered into a correction territory after closing 1.15% lower yesterday. The index fell from its November high to more than 10% and more than 5% in the past month. Meanwhile, Nasdaq Futures notched higher after dipping slightly earlier this afternoon.
The Dow Jones closed 0.96% lower and S&P 500 fell 0.97%. Investors have been on selloff trends amid expectations of interest rate hikes that could be as early as March.
