Mr. Pongpat Siripipat, Investment Analyst from InnovestX Securities, a securities company in the SCBX group, stated in “Kaohoon” program on November 10, 2025, that today’s support levels for Stock Exchange of Thailand (SET) Index will likely be 1,298 – 1,300 points with the possibility of rebound, driven by the possible end of U.S. government shutdown.
During the weekend, U.S. Democrats and Republicans Senators held a two day session and are approaching a resolution that will lead to the end of the government shutdown, despite some issues being left unaddressed. Nonetheless, this can be considered as positive sentiment as previously, both parties were rarely having a discussion at all. Furthermore, once the government reopened, the delayed federal economy reports, such as U.S. employment and inflation data, will be released, affecting the investor’s sentiment toward the market.
Regarding the Supreme Court’s assessment of the U.S. President Donald Trump global tariffs, Mr. Pongpat stated that the matter will not affect the market in this early stage as the court requires approximately two months to evaluate the case. Even if the court found that Trump does not have legal validity to use the International Emergency Economic Powers Act to impose tariff measures, the president still has alternative legal means to enact the measures, such as Section 122, 338, 301, 232 and 201.
Mr. Pongpat recommended the domestic retail sector, noting that after an earlier rise driven by positive sentiment from the Half-Half Plus scheme and a subsequent decline after pricing in the stimulus measure, the sector is now likely to see a moderate rebound. He also advised the banking sector as the financial institutes are likely to pay higher dividends due to strong Capital Adequacy Ratio (CAR).
As for specific stocks, Mr. Pongpat recommended BCPG PCL (SET: BCPG), B.Grimm Power PCL (SET: BGRIM), Berli Jucker PCL (SET: BJC), PTT PCL (SET: PTT) as InnovestX Securities estimated that their growth in the fourth quarter will be stronger than the third. He also estimated that GFPT PCL (SET: GFPT)’s earnings report that will be released tomorrow will show a strong growth, and therefore recommended the stock.
In addition, he advised the shares of Bangkok Commercial Asset Management PCL (SET: BAM) and Chayo Group PCL (SET: CHAYO) as the two companies are planning to establish Asset Management Companies (AMC) to manage non-performing loans (NPLs) and non-performing assets (NPA).
For the hospital sector, Mr. Pongpat stated that its weak growth in the third quarter was due to a high base from the pandemic-driven surge last year. He expects a rebound but advised investors to wait until analysts revise their target prices, as it is likely to happen after the sector has fully priced in all of the negative factors.
