Mr. Pongpat Siripipat, Investment Analyst from InnovestX Securities, a securities company in the SCBX group, stated in “Kaohoon” program on October 20, 2025, that there is a risk of declining in Thailand stock market this week. Last week, the index decreased to about 1,266 points before rebounding back. Still, the rebound did not reach the new high. If the index fell to about 1,270 or 1,266 points again, the market may head to negative territory.
He pointed out that there are few external conditions around the world that investors should pay attention to, such as the release of third quarter performance from several companies and the trouble in the U.S.’ banking sector, which could reflect the outline of the U.S’ economy, especially in the SME sector.
Regarding the performance of Thailand’s banks, Mr. Pongpat stated that the sector was rebasing in the past two to three weeks due to concern over lower net interest margin, following the policy rate cut. If the overall business outlook shows moderate performance, it could generate some purchasing power. Some banks, such as Krungthai Bank PCL (SET: KTB), also benefit from the performance of Thai Airways International PCL (SET: THAI). This could improve the sentiment in the short-term.
Mr. Pongpat recommended the shares in the export sector, especially those companies that export chicken products, and the electricity sector as it benefits from direct PPA from data centers and the price adjustment on electricity bills. Today, the Ministry of Energy will publish its action plan, and according to Mr. Pongpat, if this plan did not affect the power plant much, it could generate purchasing power.
Mr. Pongpat also pointed out that if the trade war between China and the U.S. escalates again, some of Chinese goods could reroute to Thailand, which will benefit the stocks of warehouse companies such as WHA Corporation PCL (SET: WHA) and Frasers Property Thailand Industrial Freehold & Leasehold REIT (SET: FTREIT). He further mentioned that the government’s stimulus program that aims to reduce the cost of living would benefit wholesale companies, such as CP Axtra Public Company Limited (SET: CPAXT) and Berli Jucker Public Company Limited (SET: BJC).
