Mr. Chaiyot Jiwangkul, Assistant Director of Securities Analysis at Krungsri Securities (KSS), during the “Kaohoon” program on July 1, 2026, stated that the Thai market may potentially test the 1,600-point level once again and maintains a positive outlook on the market’s direction.
In previous sessions, the SET Index often faced selling pressure and weakened after reaching the 1,600-point threshold, primarily due to volatility in DELTA, which had a significant weighting on the index. However, this time differs from the past as the index’s upward movement is not solely driven by the tech giant, but by evenly distributed buying across several sectors including banking, telecommunications, and finance.
This market uptrend, supported simultaneously by multiple sectors, makes the index’s outlook stronger compared to gains driven by only a handful of big-cap stocks. Should the SET Index surpass the 1,600-point threshold, it could potentially sustain stronger performance, with the next target set at 1,700 points—KSS’ year-end forecast.
Currently, there are three main investment themes of interest. The first group comprises stocks supported by strong earnings outlook and interim dividend payments, with a focus on commercial banks and ICT sectors. Banks are benefiting from improved fees from wealth management services, while interim dividend yields are expected to be around 1-2%.
The ICT group is expected to continue posting strong results, particularly ADVANC and TRUE, which are anticipated to provide more remarkable interim dividend returns than the banking sector.
The second group includes stocks benefiting from the de-escalation of international conflicts, particularly companies that profit from declining oil prices, such as transport and airlines. Notable stocks include AOT, BA, and THAI, for which signs of recovery are emerging.
The third group consists of stocks related to the next investment cycle, especially those riding on infrastructure and data center investments, which are attracting significant capital inflows into Thailand. Such investments are expected to benefit numerous associated industries, including industrial estates, commercial banks, construction, and logistics.
Mr. Chaiyot added that these directions align with policies supporting New Economy businesses and with the Stock Exchange of Thailand’s regulatory adjustments to bring new economy companies to the market via the Fast Track criteria. Nevertheless, investors should still consider the fundamentals of each company individually, since new market entrants may differ in terms of market capitalization and profit growth.
Regarding PLANB investing approximately 11% in COM7, KSS holds a preliminary positive view. Two scenarios are envisaged: 1) If the investment aims for dividend income, PLANB could recognize around THB 300 million in additional annual dividends; and 2) If PLANB gains more board seats and recognizes profit from the investment, this could boost profit by about THB 500 million.
However, investors should keep an eye on the clear investment purpose from PLANB’s management as well as potential strategic synergies with COM7, given that both companies’ businesses could align in the future, especially in advertising media and new platforms.
