Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities, stated during the “Kaohoon” program on September 29, 2026, that the short-term outlook for the Thai stock market remains sideways-down amid both domestic and external pressures. He evaluated the key support level for the SET Index at 1,580 points and a resistance level at 1,630 points.
Meanwhile, morning investment sentiment across the Asian region was relatively weak, with major stock markets in Japan, South Korea, Taiwan, Hong Kong, and Indonesia mostly declining. ASL noted that if the Thai stock market weakens toward the 1,580 level, it would represent an entry point to consider for investment; however, investors should focus on a defensive strategy and avoid chasing prices.
A key factor to monitor is the 10-year U.S. Treasury yield, which has been steadily rising. Mr. Suchet noted that bond yields represent financial borrowing costs; if they remain elevated, upside potential in capital markets will be capped, slowing capital inflows into risk assets.
At the same time, the Thai stock market faces pressure from domestic floods, which are weighing on short-term investment sentiment. Combined with sustained high U.S. bond yields, the index is likely to move within a limited range. Investors are therefore advised to exercise heightened caution when increasing portfolio weights.
On oil prices, volatility has emerged as prices softened from elevated levels. The energy and oil sector is expected to see mixed, range-bound trading. Investors are advised to closely track oil price movements, particularly large-cap stocks related to energy businesses such as PTT and PTTEP.
For the morning sessions’ top picks, ASL highlights BCH, setting a support level at THB 10.90 and a resistance level at THB 12.40. Meanwhile, MINT’s support is set at THB 21.30 and resistance at THB 22.50.
Additionally, the analyst set a support level for GULF at THB 60.00 and resistance at THB 62.75. Mr. Suchet considers BCH, MINT, and GULF to be prominent stocks worth watching during this period.
In addition, ASL provided support and resistance levels for individual equities as follows: DELTA (support THB 257, resistance THB 264), BDMS (support THB 19.70, resistance THB 20.20), GLOBAL (support THB 6.35, resistance approximately THB 6.60), RCL (support THB 47.50, resistance THB 49.50), TOA (support THB 15.00, resistance THB 15.70).
Furthermore, the analyst also provided guidance for HMPRO (support THB 6.30, resistance THB 6.55), TRUE (support THB 12.50, resistance THB 13.00), ERW (support THB 3.66, resistance THB 3.78), KCE (support THB 66, resistance THB 68), and GUNKUL (support THB 5.25, resistance THB 5.50).
Regarding commercial bank stocks, the sector has potential to partially regain market leadership, as elevated interest rates could support sectoral earnings. ASL recommends waiting for pullbacks to accumulate shares—such as KBANK, BBL, and KTB—rather than buying at higher price levels.
Meanwhile, stocks related to home repair and improvement—such as GLOBAL, HMPRO, and ILM—are poised to receive support in the upcoming period once flood conditions subside and residents begin home repairs.
For medium- to long-term themes, Mr. Suchet maintains an emphasis on stocks related to Data Centers, viewing them as long-term structural investment trends rather than short-term speculative plays. Consequently, stocks in this theme are considered suitable for gradual accumulation during price consolidations.
Regarding the electronics sector, despite pullbacks in U.S. technology stocks, select equities still offer investment entry points. DELTA would become attractive if it pulls back to the low THB 250 range, whereas the THB 260- 265 zone presents higher price volatility.
For KCE, support is set at THB 66 and resistance at THB 68 – 80, buoyed by news catalysts and investment themes. Meanwhile, HANA has a target price range of THB 55 – 60, remaining another electronic component stock to watch during this period.
However, Mr. Suchet advised investors against rushing to increase portfolio allocations at this juncture, as pressuring factors over the past two to three days continue to weigh on investor sentiment. Should conditions begin to ease, market sentiment could improve next week. Therefore, the primary strategy remains waiting to buy on weakness and avoiding chasing prices.
