Asia Plus Says Weak Baht Drives Foreign Selling, Recommends Accumulating SCB, PTT, TRUE

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2▲3 ▼0Impact / 5
Summary · why it matters

Asia Plus Securities assesses that the Thai stock market still faces high volatility from inflation that has been entrenched for more than seven months and from the baht, which is trending weaker past 34 baht per US dollar. On foreign capital flows, foreigners were net sellers of Thai debt instruments in the third quarter to the tune of 37 billion baht, flipping the cumulative net position since the start of the year to negative 7.952 billion baht. Meanwhile, in the Thai stock market, foreigners were net sellers of nearly 20 billion baht in just six trading days and opened a cumulative net short position in the TFEX market of another 33,000 contracts. The main pressure comes from the widening spread between 10-year US and Thai government bond yields, which has hit its highest level since the start of the year. Although overall foreign selling was heavy, they still alternated into accumulating large laggard stocks over the past six trading days, namely SCB at 2.974 billion baht, PTT at 1.361 billion baht, TOP at 882 million baht, IRPC at 627 million baht, and BBL at 517 million baht. The broker recommends technically strong standout stocks for the day, namely TRUE, which is expected to post strong third-quarter 2026 earnings growth both quarter-on-quarter and year-on-year, with an estimated dividend yield of about 1.2% for the third quarter of 2026, as well as GULF, PLANB, BE03, and LITE80.

Impact on assets 9

Energy Transition & Power Demand▲ · 3 stocks
PTT Public Company Limited
PTT
▲ PositiveDemandrelevance

Foreigners accumulated PTT as a large laggard stock, net buying 1.361 billion baht over the past six trading days.

Digital Finance & Tokenization▲ · 2 stocks
SCB X Public Company Limited
SCB
▲ PositiveDemandrelevance

Foreigners accumulated SCB as a large laggard stock, net buying 2.974 billion baht over the past six trading days.

Cloud & Digital Infrastructure▲ · 1 stocks
Energy▲ · 1 stocks
Communication Services▲ · 1 stocks
Others▲ · 1 stocks
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