Krungsri Securities (KSS) has released an optimistic assessment of Thailand’s economic performance, noting that the country recorded a 1.9% year-on-year GDP growth in the second quarter of 2026, according to data compiled by the National Economic and Social Development Council (NESDC). This figure slightly exceeds the market consensus, which anticipated a 1.8% expansion.
A key highlight driving this growth is the significant acceleration in private sector investment, which soared by 13.4% YoY, up from the previous quarter’s 10.1% gain. Following the NESDC’s adjustments, the official GDP forecast for 2026 has been elevated to a range of 2.0 – 2.5%, from the prior estimate of 1.5 – 2.0%.
KSS views this data as a positive psychological indicator for the Thai stock market, suggesting that investor sentiment and select domestic equities are likely to benefit. The brokerage highlights the following equity groups as attractive:
- Domestic play theme: Banking and finance shares, with top picks including KTB, KBANK, and MTC.
- Investment-driven theme: Industrial estate developers such as AMATA and WHA, power sector majors like GULF, GUNKUL, and WHAUP, as well as contractors such as STECON and PYLON.
- De-escalation theme: Companies set to gain from the ongoing economic recovery and the de-escalation of global tensions, including AOT, AWC, ERW, CENTEL, BH, BDMS, and CRC.
KSS believes these groups are well-positioned to outperform as Thailand’s GDP stages a rebound from its recent lows, with recovery momentum expected to extend into the coming year.
