Mr. Koraphat Vorachet, Assistant Director and Division Head of Research at Krungsri Securities (KSS), stated in the “Kaohoon” program on December 25, 2025, that the Stock Exchange of Thailand (SET) Index has been volatile due to portfolio adjustments by active funds. However, he noted that the outflows are likely nearing an end, while remaining adjustments by passive funds should be limited, allowing the SET Index to stabilize toward the end of the year.
The SET Index is likely to move toward the 1,300-point level, supported by strong recent capital inflows, an expected election rally, and the January effect—a statistical tendency for stock prices to rise in January. He also noted that the U.S. Federal Reserve may cut interest rates three to four times next year amid signs of a weakening labor market. This weakened the U.S. dollar and strengthened Asia currencies.
Mr. Koraphat recommended large-cap SET50 stocks with solid fundamentals and high dividend yields. His picks included Kasikornbank PCL (SET: KBANK) and Krung Thai Bank PCL (SET: KTB) in banking, Advanced Info Service PCL (SET: ADVANC) in the ICT sector, PTT PCL (SET: PTT) and PTT Global Chemical PCL (SET: PTTGC) in energy and petrochemicals, and Home Product Center PCL (SET: HMPRO) in construction-related retail.
For short-term trading opportunities, KSS highlighted Central Pattana PCL (SET: CPN), Central Retail Corporation PCL (SET: CRC), WHA Corporation PCL (SET: WHA), and Gulf Development PCL (SET: GULF).
