Krungsri Securities (KSS) expects Thailand’s stock market to focus on economic stimulus measures following the imminent submission of the new cabinet list under Prime Minister Anutin’s leadership.
The appointment of the Anutin I cabinet is anticipated as early as this evening (16 September) or by tomorrow at the latest (17 September).
According to reports, several key economic positions are set to be filled, with Ekniti Nitithanprapas as Deputy Prime Minister and Finance Minister, Suphajee Suthumpun as Commerce Minister, and Auttapol Rerkpiboon as Energy Minister.
KSS views the formation of the new cabinet as a positive political development. The next market focus will be on government stimulus initiatives, particularly those aimed at reducing living costs, increasing purchasing power, and driving new investment projects.
Key anticipated stimulus measures include direct support for consumption—such as the continuation of the Half-Half co-payment scheme, a planned THB 12 billion top-up to village funds (equivalent to 0.08% of GDP), soft loans for farmers, and policies to lower the cost of living and electricity bills. These policies are expected to benefit stocks linked to the purchasing power of the grassroots population, particularly in retail, beverages, and financial services.
For the tourism sector, measures similar to the ‘We Travel Together’ program are expected to support domestic travel, benefiting airports, airlines, and local hotels.
Large-scale investment projects, such as the Land Bridge project, are forecast to proceed under the new government, which should support construction and industrial estate stocks.
Strategically, KSS maintains a positive outlook for the SET Index, setting resistance levels at 1,316/1,330 points and support at 1,300/1,295 points. The brokerage firm continues to favor stocks leveraged to domestic demand, highlighting top picks in retail (CPALL, BJC, CPAXT), financials (MTC, KTC), construction (CK, STECON, ITD), industrial estates (AMATA, WHA), and tourism (ERW, CENTEL).
