ETRON Stocks Enjoy the Hike as Potential Upside Narrows Down to a Single Digit

The electronics component stocks in SET Index enjoyed the sentiment from Nasdaq Composite over Tuesday night and closed higher on Wednesday.

 

On Wednesday, March 10, 2021, SET Index closed at 1,573.05 points, increased 22.46 points or 1.45% with a trading value of 108 billion baht.

KCE Electronics Public Company Limited (KCE) closed at ฿55.50/share, increased 4.13%.

Hana Microelectronics Public Company Limited (HANA) closed at ฿52.00/share, increased 5.0%.

SVI Public Company Limited (SVI) closed at ฿4.80/share, increased 3.45%.

Stars Microelectronics (Thailand) Public Company Limited (SMT) closed at ฿4.20/share, increased 5.42%.

 

Last night, stocks in Nasdaq Composite made a short coverage and closed 3.7% higher despite a slight gain in Dow Jones. Tesla rose 19%, Amazon increased 3.8%, Facebook gained 4% and Apple hiked 4%.

 

The positive sentiment from Nasdaq buoyed tech stocks in SET Index that have been dropping since the rally in January-February over the shortage in semiconductors during the lockdown to the point that gaming consoles were sold out, causing the prices to rise higher for certain semiconductors.

Even though the demand for semiconductors would remain high for a few months, the supply will eventually meet up with the demand, possibly in 3Q21.

 

Meanwhile, the upside for the target price in these stocks is almost full after a series of hikes since the low point in March 2020, when the global economy plunged to a decade low over concerns of a coronavirus outbreak.