Mr. Kantara Ladawan na Ayutthaya, Executive Director of Finansia Syrus Securities, stated in the “Kaohoon” program on July 24, 2026, that the Thai stock market is likely to undergo a correction along with the overseas markets trend. This came after both U.S. and Asian stock markets experienced heavy selling, particularly in technology and artificial intelligence (AI) sectors, while South Korea’s stock market also faced sharp declines.
He assessed that the SET Index could weaken towards the support level at around 1,630 points after steadily rising in previous sessions. However, the main support lies at 1,621 points. If the index can remain above this level and recover, it would indicate that the upward trend remains intact, with potential for further gains after a short-term consolidation.
Mr. Kantara stated that oil prices are an important indicator reflecting market concerns over the war situation. When oil climbs above $100 per barrel, it shows that the market is placing significant weight on geopolitical risks and supply disruptions.
For current global market pressures, he believes that oil prices are a bigger factor than tariff policies. This is because supply risks are not limited to the Strait of Hormuz but have also spread to the Red Sea, causing energy prices to increasingly affect business costs and consumers at large.
Regarding the banking sector, which has faced heavy selling previously, he expects that the panic has started to ease following significant price rises and profit taking, while many bank stocks still trade below their target prices. There is, therefore, room for a rebound once the selling pressure subsides.
In terms of investment strategy ahead of the upcoming holiday, Mr. Kantara recommended that investors hold off on new purchases and wait for clearer market directions, as overseas markets remain open and the Middle East conflict is still unsettled. If any significant event were to occur during the Thai market holiday, local investors would not be able to adjust their portfolios immediately, making it prudent to wait before accumulating stocks again.
Nevertheless, for investors with risk appetite and seeking short-term speculation, the analyst still favors energy stocks that benefit directly from rising oil prices, highlighting PTT and PTTEP as top picks. For other sectors, it is advisable to wait for clearer market trends before investing.
