Mr. Kantara Ladawan na Ayutthaya, Executive Director of Finansia Syrus Securities (FSS), stated in the “Kaohoon” program on October 9, 2026, that the Thai stock market is currently facing pressure from rising U.S. Treasury yields and global crude oil price trends.
If Brent crude stands above $102 per barrel, it would serve as a key support level from which prices could rebound. However, if prices fall below $100 to trade in the low $90s, market concerns would ease, yielding a more positive impact on the market.
Oil prices are considered the most critical variable reflecting the severity of war and geopolitical risks, which subsequently impact inflation and interest rate trajectories. Should oil prices decline, foreign capital inflows are expected to return to the Thai stock market.
Regarding recent foreign investor selloffs, the analyst viewed the rising bond yields as the primary driver prompting investors to dump risk assets, rather than domestic flood concerns, as the current flooding is not as widespread as in 2011 despite having weighed somewhat on the consumer confidence index.
Currently, cumulative foreign net purchases stand at over THB 10 billion, and investors should monitor the Thai baht’s trajectory alongside investment decisions, said Mr. Kantara. Meanwhile, he believed that Thai retail investors are still strong and capable of managing market volatility effectively.
Regarding the electronics sector, despite recent selloffs driven by revenue concerns and chip delivery delays caused by production bottlenecks, market demand remains robust. KCE and HANA maintain an upward trend. Meanwhile, DELTA serves as a key market leader aligned with global megatrends. Its current market price remains below FSS’s target price of THB 290, presenting an attractive investment opportunity.
The International Monetary Fund (IMF) and World Bank meetings are viewed as a long-term positive driver for national sentiment, though they may not trigger a sharp short-term rally in the Thai bourse. Meanwhile, the Vegetarian Festival serves as a catalyst boosting capital rotation into the food sector. The tourism sector is expected to accelerate during the late-year high season once the flood situation eases.
Additionally, commercial bank stocks—such as TISCO, which is scheduled to be among the first to announce financial results—are preliminarily projected to report stable earnings, with FSS’ analysts actively assessing additional flood impacts. The banking sector had previously surged over 30% before facing profit-taking, which brought returns down to 25 – 26%.
For top stock picks, FSS recommends ITC, a pet food manufacturer, setting a target price at THB 21.30 for next year based on projections that net profit will gradually recover.
