Asia Plus Expects Floods to Cut Economic Output by 5-10 Billion Baht, Highlights CPALL, THAI, BH
3▲0 ▼0Impact / 5
Asia Plus Securities estimates that flash floods in upper Thailand during October 4-7, 2026, if water remains stagnant for about one week, will cause economic damage of roughly 5-10 billion baht and drag third-quarter 2026 GDP growth down to 2.1%-2.3%, with knock-on effects into the fourth quarter. Meanwhile, foreign investors accelerated net selling of Thai stocks last week to as much as 26.8 billion baht, the highest weekly net selling in 39 weeks of 2026, and September 2026 inflation is expected to jump to 3.0% year-on-year from 2.5% year-on-year the previous month. Global markets drew support from U.S. non-farm payrolls, which rose by only 29,000, below the market forecast of 90,000, prompting the market to raise to 78% from 38% the probability that the Federal Reserve will hold interest rates at its October meeting. Amid such volatile market conditions, the research team recommends three top picks: CPALL, on consumer goods purchasing power and its retail business as a defensive play; THAI, as a recovery play on rebounding international passenger numbers; and BH, standing out for its earnings quality and revenue from foreign patients amid the medical tourism trend.