Mr. Koraphat Vorachet, Assistant Director and Division Head of Research at Krungsri Securities (KSS), stated in the “Kaohoon” program on March 5, 2026, that the Stock Exchange of Thailand (SET) Index will likely to rebound today as it already absorb most of the negative sentiments, generated from the conflicts in the Middle East. He expected today’s resistance levels for the SET Index to be 1,420/1,466 points.
Mr. Koraphat also recommended large-cap stocks that had previously declined more sharply than the SET Index, such as Global Power Synergy PCL (SET: GPSC), Indorama Ventures PCL (SET: IVL), Asset World Corp PCL (SET: AWC), Central Plaza Hotel PCL (SET: CENTEL), Gulf Development PCL (SET: GULF), Bumrungrad Hospital PCL (SET: BH), and The Siam Cement PCL (SET: SCC).
Regarding yesterday’s strong capital inflows, Mr. Koraphat noted that the Thai stock market remains attractive to foreign investors due to its relatively low valuations. The market also holds a strong tactical position, as it continues to attract capital redirected from Indonesia, where substantial funds have yet to be reallocated amid the possibility of a downgrade to “frontier market” status.
Mr. Koraphat also highlighted four developments that could support the SET Index. First is improving political stability, as the Election Commission is close to completing the certification of the poll results. Second is the U.S. interest rate, which remains on a rate-cut trajectory. Third is the recovery in private investment, supported by stimulus measures the government is likely to implement. Finally, it is the SET Index’s return on equity (ROE) that has resumed an uptrend. He expects ROE to rise to around 9–9.5% in 2026–2027, up from approximately 7% in 2024–2025.
