Mr. Kantara Ladawan na Ayutthaya, Executive Director of Finansia Syrus Securities (FSS), stated via the ‘Kaohoon’ program on November 6, 2026, that the Thai stock market is currently facing significant pressure from external factors, following sharp declines in the U.S. market, notably the Nasdaq, which fell over 5%.
Major Asian markets, including Japan, South Korea, and Taiwan, have also moved in a similar direction, resulting in a decline of more than 20 points in the SET Index this morning.
The 1,470-point level is seen as a critical support level for the Thai bourse and, if breached, could signal a further shift into a full bearish market from a technical perspective, after persistent selling pressure. However, the brokerage noted the possibility of short-term buying after the rapid drop.
The key source of pressure stems from concerns following the Democratic Party’s victory in the U.S. midterm elections, which could lead to stricter regulations on AI and data center investments, as well as potential corporate tax hikes, triggering pronounced sell-offs in technology stocks.
AI-related stocks have faced high earnings expectations, and despite some companies surpassing analyst forecasts, stock prices have declined amid concerns over substantial capital requirements needed for ongoing technological development and AI infrastructure expansion.
The Thai market has also been affected by selling in electronics component stocks, especially DELTA, a large-cap stock influential to the SET Index movement.
Mr. Kantara emphasized that the Thai market is largely dictated by external factors, while domestic fundamentals remain stable. Many listed companies, especially commercial banks and select large enterprises, continue to post solid performance.
He recommends investors be cautious, noting that Thai stocks often face downward pressure in tandem with global markets but may not recover at the same pace on rebounds. For medium- to long-term investors, he sees potential for the SET Index to reach 1,700 points in the next 12 months, viewing the current correction as a possible buying opportunity if the index holds above the 1,470-point support.
Mr. Kantara mentioned a selective buy strategy, focusing on companies with strong and sustainable earnings growth. Stocks of interest for November include BDMS, BTG, CPN, and ITC, depending on individual investment suitability.
