Mr. Pobchai Phatrawit, Equity and Digital Asset Strategist at InnovestX Securities, a securities company in the SCBX group, stated in the “Kaohoon” program on February 9, 2026, that the Stock Exchange of Thailand (SET) Index is likely to trend upward toward 1,390–1,400 points. However, profit-taking may occur. Therefore, investors are advised to wait for a market correction.
Regarding Thailand’s election, Mr. Pobchai noted that the leading political party has secured a significant lead over its rival, while parties likely to join the coalition have also posted strong results. Once a government coalition is formed—expected in early May—it could result in a stable administration with policy continuity. This development could help propel the SET Index toward the 1,430–1,460 point range.
Mr. Pobchai also estimated that the SET Index earnings per share (EPS) this year could reach THB 91 per share. When applied to the current price-to-earnings (P/E) ratio of 16 times, the index could rise to the 1,450–1,460 point range. However, once the SET Index approaches this level, it is likely to face a market correction before the upward trend slows down.
For recommended stocks, Mr. Pobchai highlighted laggard names, particularly in the tourism sector, including Central Plaza Hotel PCL (SET: CENTEL), The Erawan Group PCL (SET: ERW), and Airports of Thailand PCL (SET: AOT). He cited support from the Chinese New Year period, extended holidays, and rising Japan–China tensions that are redirecting Chinese tourist flows toward other Asian destinations. He also recommended property stocks such as AP (Thailand) PCL (SET: AP) and Sansiri PCL (SET: SIRI), noting market expectations that this year’s outlook could improve from last year’s levels.
