Mr. Kantara Ladawan na Ayutthaya, Executive Director of Finansia Syrus Securities, stated in the “Kaohoon” program on February 20, 2026, that the Stock Exchange of Thailand (SET) Index has been driven by strong capital inflows to a level broadly in line with its fair value. Still, the brokerage also estimated that the index could rerate toward 1,450 points.
For now, Finansia Syrus Securities has not revised its 2026 index target of 1,500 points, as it is awaiting a clearer assessment of gross domestic product (GDP) growth. However, recent economic data have shown signs of expansion, suggesting the securities company may adjust its target upward in the near future.
Regarding the possibility of a re-election, Mr. Kantara stated that the concern has not affected the SET Index so far, as investors expect a similar outcome should a new vote be held. He also estimated that if Thailand held a new election, the index would likely decline slightly to around 1,450 points. At present, the decisive election result remains the primary factor attracting foreign investors, as they anticipate political stability, with the new administration lasting about two years, which is an average tenor of the Thai government before the dissolution of parliament, giving the caretaker another six months in power.
For specific stock recommendations, Mr. Kantara highlighted Bangkok Dusit Medical Services PCL (SET: BDMS) from the hospital sector and True Corporation PCL (SET: TRUE) from the ICT sector, citing their potential growth prospects. For investors currently holding profitable stocks, he recommended taking profit if the performance outlook meets expectations and waiting for a market correction before re-entering. However, if the outlook exceeds expectations, investors are recommended to continue holding their positions.
