Shares of major Thai electronic firms inched up on Thursday, following an uptick in U.S. chipmaker equities after Nvidia Corp. reported booming demand for artificial intelligence processors, while analysts saw the Asian electronic sector bottoming out.
As of 12.11 hrs. Bangkok time, the share price of Delta Electronics (Thailand) Pcl. (SET: DELTA) rose 5.40%, or THB4.75/share, to THB 92.75, with a trading value of THB2,965 million.
The share price of Hana Microelectronics Pcl. (SET: HANA) rose 3.66%, or THB1.50/share, to THB 42.50, with a trading value of THB655 million.
The share price of KCE Electronics Pcl. (SET: KCE) rose 2.61%, or THB1.00/share, to THB 39.25, with a trading value of THB413 million.
According to Krungsri Capital Securities, a rally in Thai electronic shares in morning trade was mainly fueled by a surge in U.S. giant chipmaker Nvidia Corp. after the company forecasted strong revenue growth and said it was boosting production of its AI chips to meet surging demand.
Jensen Huang, Chief Executive Officer of Nvidia, said the company saw surging demand for its data center products that used Nvidia’s chips to train and deploy AI applications like ChatGPT.
In an extended trading session of Wednesday, stock prices of Nvidia rose to $380.70 a share, up $75.32 or 24.66%.
In addition to the baht’s short-term decline, signs that the Asian electronics industry may have reached bottom as early as in June are a positive development for the industry.
Meanwhile, the risk of a chip shortage and China’s opening has boosted optimism about the outlook in the semiconductor and printed circuit board assembly (PCBA) sectors.
