Mr. Suchet Suktae, Deputy Managing Director, Media Marketing Department of ASL Securities, stated during the “Kaohoon” program on October 29, 2026, that the Thai stock market is positioned to benefit from foreign fund inflows over the medium term, supported by regional portfolio rebalancing as country-specific pressures weigh on the Indonesian and Philippine markets.
The analyst elaborated that issues surrounding Indonesia’s MSCI index could lead foreign investors to adjust regional equity allocations and increase their investment weighting in Thai stocks.
He highlighted large commercial banks as a key target for foreign investors, recommending an overweight stance on major banking stocks due to their stability and solid fundamentals. The broader banking sector is also not facing any significant new negative catalysts.
For the SET Index, Mr. Suchet set 1,550 points as a key downside level to watch and 1,585 points as an upside hurdle. He advised investors to focus on selective stock picking, particularly big-cap stocks that are expected to benefit from foreign capital flows.
Among individual stocks, the analyst recommended BBL, which continues to attract net foreign buying. He highlighted THB 185 and THB 180 as key levels on any pullback, with the stock facing resistance at THB 195.
HMPRO’s 2026 earnings outlook is expected to remain broadly comparable to the previous year. The analyst put THB 6.00 as its downside support and THB 7.00 as a hurdle to higher gains. Meanwhile, TU has shown positive technical signals, with the analyst setting THB 12.50 as a downside threshold and THB 13.50 marking the next upside barrier.
MINT is showing early signs of recovery along with tourism and hotel stocks after falling from the THB 25 – 28 range to near THB 20. Mr. Suchet viewed the stock as a gradual accumulation opportunity, highlighting THB 20 as its price floor and THB 21.70 – 22.00 as the near-term hurdle. He recommended investors hold positions ahead of possible profit-taking in December. For EGCO, he pointed to THB 130.50 as the level to watch on a pullback and THB 137 as an upside barrier.
In the aviation sector, AOT has an upside hurdle at THB 62.50, while AAV reportedly has an upside threshold at THB 85.00. In the petrochemical sector, the analyst stressed that PTTGC should hold above the critical THB 49 level, with further gains facing resistance at THB 55.
Mr. Suchet maintained his main focus on large commercial banks as key beneficiaries of expected foreign inflows. In addition to BBL, he cited KKP, which has recovered from THB 113 to around THB 119 – 120, with an upside target of THB 125 – 130. TCAP has upside potential toward THB 90 and above, while TTB, trading near THB 2.70, could move toward THB 3.00. KBANK, KTB, and SCB also remain stocks of interest.
In telecommunications, ADVANC and TRUE were highlighted as another medium-term investment group after share price pullbacks to attractive levels.
