Mr. Koraphat Vorachet, Assistant Director and Division Head of Research at Krungsri Securities (KSS), stated in “Kaohoon” program on November 6, 2025, that the Stock Exchange of Thailand (SET) Index is likely to rebound today as the market still laggarded global indexes. Meanwhile, growing expectations of Bank of Thailand’s interest rate cut on December 17 following reports of deeper deflation and the overall positive trend in third-quarter performance results are boons to the market.
Mr. Koraphat also noted that foreign investors have recently shifted their focus toward Thai assets, purchasing bonds worth approximately THB 5 billion and equities worth around THB 2.5 billion yesterday. He attributed this renewed interest to improving sentiment driven by the government’s ongoing economic stimulus measures
KSS has a positive outlook on Thailand’s current administration, citing the government’s swift implementation and execution of economic stimulus measures aimed at driving both short- and long-term growth. The brokerage also highlighted the government’s strong fiscal discipline, which helps mitigate the risk of a potential credit rating downgrade.
Regarding the development of Information and Communication Technology (ICT) sector following positive growth in its third quarter, Mr. Koraphat estimated an upward trend and high growth in the fourth quarter, citing upside for Advanced Info Service PCL (SET: ADVANC)’s Average Revenue Per User (ARPU) and True Corporation PCL (SET: TRUE)’s better cost management.
For specific stocks, KSS recommended ADVANC for its solid earnings outlook and Gulf Development PCL (SET: GULF) for its anticipated strong growth. Mr. Koraphat also suggested shares from the retail sector to benefit from the economic stimulus package and the planned tariffs on online platforms. Of this, the analyst picked CP All Public Company Limited (SET: CPALL). Meanwhile, CP Axtra Public Company Limited (SET: CPAXT) will benefit from the recent announcement by MSCI of no deletions from the global index, easing fears of the retail giant removal from the index.
