Thai Stock Market Expected to Rise in 4th Quarter, with Tourism as Main Theme

Several brokers predict that the Thai stock market will continue to rise in the 4th quarter, with the main theme being “Tourism”.

The last week of September 2024 saw the SET Index close at 1,450.15 points, down 0.11% from the previous week. However, most analysts still see the Thai stock market in an upward direction in the 4th quarter.

Analysts’ Predictions

Mr Phongphat Siripipat, Director of Securities Research at DBS Vickers Securities (Thailand), said that Thai stocks in the 4th quarter are expected to fluctuate upwards, mainly from the Thai-US interest differential. He also mentioned that the baht strengthens and Thai stocks are supported by political policies that have changed the structure of the Thai economy.

Miss Chutikarn Santimethvirun, Senior Manager of the Securities Analysis Department, Phillip Securities (Thailand), said that stocks could still increase in the 4th quarter, but there may be some variations along the way. She mentioned that the Thai economy continues to improve and listed company profits are expected to grow.

Mr Benjaphon Sutthiwanich, Assistant Managing Director of UOB Kay Hian Securities (Thailand), said that the direction of the stock market in the 4th quarter can still be adjusted upwards, but it may not be strong. He mentioned that the SET index target is set at 1,540 points, but may not be reached due to concerns about a number of factors outside the country.

Mr. Apichart Phubanjerdkul, Senior Director of CISA, Strategic Analysis Division, TISCO Securities, said that the stock market in the 4th quarter looks positive from the Fund Flow inflows from the Thai economy, which will gradually improve and the market is still considered a Laggard.

Recommended Stocks

Recommended stocks to invest in the 4th quarter include:

• ERW, CENTEL, CPALL, CPAXT, AAV, GPSC, GULF, MINT, SCB, BJC, BH, EGCO, SIRI, SISB, YOU
• MTC, SAWAD, KTC, AOT, WHA
• SCB, TTB, CPALL, BJC, BH, ERW, EGCO, SIRI, SISB, YOU

Key Factors to Watch

Key factors to watch in the 4th quarter include:

• The direction of foreign interest rates
• The strengthening baht and its impact on exports
• The government’s economic stimulus measures
• The US elections and their impact on the global economy