{"slug": "thai-stock-market-thriving-as-surprise-beneficiary-of-ai-boom", "title": "Thai stock market thriving as surprise beneficiary of AI boom", "summary": "Thailand's stock market is outperforming Southeast Asian peers this year, driven by Delta Electronics (Thailand), which surged over 80% to become the country's first $100 billion company. The company's power systems for AI data centers have made it a key supplier in the global AI boom, now accounting for one-fifth of the Stock Exchange of Thailand Index.", "body_md": "Thailand’s stock market is having the best year among Southeast Asian peers, as investors discover an unlikely source of exposure to the global artificial-intelligence boom.\n\nMuch of that gain has come from Delta Electronics (Thailand). The maker of power systems for AI data centers has surged more than 80% this year and became Thailand’s first $100 billion company, large enough to be worth more than the next four largest Thai stocks combined.\n\nIt’s also Southeast Asia’s second-most valuable company in the MSCI Asean Index, behind DBS Group Holdings.\n\nWhile the country lacks the semiconductor champions of Taiwan or South Korea, investors are increasingly recognizing its role in supplying the infrastructure behind AI.\n\n“Thailand isn’t a pure AI market, but its exposure to data centers, electronics, power systems and digital infrastructure gives investors a new way to view Thai equities beyond the traditional tourism, banks and domestic consumption cycle,” Bloomberg Intelligence Strategist Sufianti said in a note.\n\nDelta’s rise is the clearest evidence of that shift. The electronic manufacturer produces power-management systems used in servers and data centers, making it a key supplier for the infrastructure behind the AI boom.\n\nThe company has been impressive with “timely capacity expansion to capture the surging demand for data centers globally,” said Suwat Sinsadok, an analyst at Globlex Securities in Bangkok.\n\nEarnings have consistently beaten expectations every quarter over the past two years, despite headwinds from U.S. tariffs and the conflict in the Middle East, Suwat said, adding that profit outperformance is likely to continue.\n\nDelta now accounts for one-fifth of the Stock Exchange of Thailand Index, more than double its weighting in June 2025. Still, the Thai market remains less dependent on technology stocks than those of South Korea and Taiwan, Asia’s two best-performing major equity markets this year.\n\nChip heavyweights SK Hynix and Samsung Electronics together account for more than half of South Korea’s Kospi, while Taiwan’s Taiex is similarly dominated by technology stocks, with Taiwan Semiconductor Manufacturing Co. alone making up more than 40% of the benchmark.\n\nBy contrast, Delta is the only pure technology company among Thailand’s biggest listed firms. Wireless carrier Advanced Info Service, energy firm PTT, power producer Gulf Development and Airports of Thailand round out the country’s five largest stocks.\n\nCompared with peer benchmarks in Southeast Asia, Thailand’s was up more than 20% in 2026 through Wednesday, outperforming markets in Singapore and Vietnam and contrasting with declines in Indonesia.\n\nWhile many of Thailand’s other electronic producers have also rallied this year, they remain dwarfed by Delta. Only Cal-Comp Electronics Thailand, KCE Electronics and, at times, Hana Microelectronics have market capitalizations exceeding $1 billion.", "url": "https://wpnews.pro/news/thai-stock-market-thriving-as-surprise-beneficiary-of-ai-boom", "canonical_source": "https://www.japantimes.co.jp/business/2026/06/25/companies/thailand-ai-stock-winner/", "published_at": "2026-06-25 03:50:00+00:00", "updated_at": "2026-06-25 04:48:37.271460+00:00", "lang": "en", "topics": ["artificial-intelligence", "ai-infrastructure", "ai-products"], "entities": ["Delta Electronics (Thailand)", "Bloomberg Intelligence", "Globlex Securities", "Advanced Info Service", "PTT", "Gulf Development", "Airports of Thailand", "Cal-Comp Electronics Thailand"], "alternates": {"html": "https://wpnews.pro/news/thai-stock-market-thriving-as-surprise-beneficiary-of-ai-boom", "markdown": "https://wpnews.pro/news/thai-stock-market-thriving-as-surprise-beneficiary-of-ai-boom.md", "text": "https://wpnews.pro/news/thai-stock-market-thriving-as-surprise-beneficiary-of-ai-boom.txt", "jsonld": "https://wpnews.pro/news/thai-stock-market-thriving-as-surprise-beneficiary-of-ai-boom.jsonld"}}