Mr. Koraphat Vorachet, Assistant Director and Division Head of Research at Krungsri Securities (KSS), stated in the “Kaohoon” program on January 15, 2026, that the Stock Exchange of Thailand (SET) Index is likely to enter a more stable period as investors complete their portfolio rebalancing. He added that a recovery is expected, as this phase coincides with the election rally period.
Furthermore, he forecasts that today’s support and resistance levels for the SET Index to be 1,235 points and 1,255 points, respectively, as SET Index is likely to have absorbed most of the negative sentiment stemming from Delta Electronics (Thailand) PCL (SET: DELTA)’s big-lot transaction and the shift in insurance policies regarding the co-payment model. The recent volatility was largely driven by thin trading volumes, which made the market more sensitive to changes.
As for key catalysts, Mr. Koraphat pointed to the release of the 4Q25 outlook for the banking and credit card sectors, as well as signs of declining non-performing loans, which could signal a recovery in domestic stocks. For the oversea catalysts, he noted the imposed 10% cap on U.S. credit card interest rates, which could significantly dampen U.S. consumer spending. Regarding the suspension of U.S. immigrant visas, he stated that it is unlikely to have an impact on the tourism sector.
For specific stocks, Mr. Koraphat recommended PTT Global Chemical PCL (SET: PTTGC) and Indorama Ventures PCL (SET: IVL) from the petrochemical sector, citing easing oversupply conditions. He also recommended Gulf Development PCL (SET: GULF) and PTT PCL (SET: PTT) from the energy sector, driven by rising LNG demand in Asia and lower production costs. In addition, he highlighted Infraset PCL (SET: INSET) from the technology infrastructure sector, supported by its sizable data center–related backlog.
