Thailand Emerges as Southeast Asia’s Surprise AI Stock Winner

The Stock Exchange of Thailand (SET) has emerged as the top-performing stock market in Southeast Asia for 2024, driven by investor interest in companies poised to benefit from the global artificial intelligence (AI) boom. This surge positions Thailand as an unexpected hub for AI-related investments in the region. Several Thai companies, particularly those involved in advanced manufacturing, data centers, and semiconductor packaging, have seen significant investor attention. For instance, Delta Electronics (Thailand) PCL, a manufacturer of power supplies and industrial automation products, has experienced a substantial increase in its stock value, attributed to its role in supplying components for AI infrastructure. Similarly, KCE Electronics PCL, a producer of printed circuit boards used in various electronic devices including those powering AI, has also benefited from this trend. Analysts point to Thailand's established manufacturing base and strategic location as key factors attracting these investments. The SET Index has reportedly gained over 15% year-to-date, outperforming regional counterparts like the Jakarta Composite Index and the Straits Times Index. This performance indicates a growing confidence in Thailand's ability to capitalize on the technological shift towards AI, moving beyond traditional tourism and export sectors.