Mr. Kantara Ladawan na Ayutthaya, Executive Director of Finansia Syrus Securities, stated in “Kaohoon” program on July 2, 2026, that the banking sector, which has seen a significant rally in the recent period, may face short-term profit-taking pressure.This is due to the Relative Strength Index (RSI) in several timeframes being above 80, reflecting an overbought condition in Thai banking stocks.
Nevertheless, in the medium to long term, the analyst maintains a positive outlook for the banking sector, citing continued optimism regarding the Thai economy and upward revisions of GDP forecasts. At the same time, Thailand has started to attract investment in the new economy, particularly in fields such as AI and data centers, which will support overall investment activity and the economy going forward.
He added that foreign investors have been net buyers in the Thai stock market, notably recording net purchases of about THB 8.5 billion yesterday. This surge in foreign buying signals strong confidence in the Thai economy and the banking sector. In contrast, retail investors were significant net sellers, offloading approximately THB 7 billion, partly due to concerns over the key resistance level at 1,600 points.
Mr. Kantara stated that if the SET Index can break through the key resistance level, especially at around 1,607 points, it could trigger a Follow Buy, as this would represent a psychologically significant breakout that the market is closely monitoring.
Sectors poised to move in tandem with banking stocks include retail, food, tourism, transportation, power plants, and finance. These sectors are expected to benefit from declining oil prices, easing geopolitical tensions, and reduced financial cost pressures as U.S. bond yields decrease.
Meanwhile, although DELTA shares have put pressure on the SET Index recently, there has been a noticeable rotation toward other fundamentally sound stocks, particularly those trading below their intrinsic values. This rotation should support the continued upward momentum of the Thai bourse.
On the political front, Mr. Kantara believes that the stability of the current government has yet to post any significant impact on the overall economy. He remains confident that the government can continue to roll out economic stimulus policies and attract investment, key drivers for the Thai economy and capital market going forward.
