Brokers see Thai stocks edging higher after weak US jobs data, recommend DELTA as top pick

Thunhoon··THUS·Read original
2▲6 ▼0Impact / 5
Summary · why it matters

Several brokers expect the Thai stock market to trade in positive territory today. Finansia Syrus Securities sees the SET Index in a range of 1,565-1,583 points, helped by US Nonfarm Payrolls for September 2026, which rose by 29,000, below economists' forecast of 84,000 and below the prior 12-month average of 45,000, while the unemployment rate came in at 4.2%, higher than expected. As a result, the market has cut the probability of an October rate hike to just 22%. CGS International (Thailand) sees a range of 1,560-1,585 points, and DAOL sees a range of 1,545-1,552 up to 1,600 points. All three brokers are also watching Thailand's September inflation figures, with the market expecting headline inflation of 3.1% year-on-year and core inflation of 1.56% year-on-year, as well as the US ISM services index for September, expected to rise to 55.7, and the Fed meeting minutes due Wednesday night. The stock they all recommend is DELTA, with Finansia setting a 2027 target price of 290 baht and expecting third-quarter 2026 profit to accelerate to 8.3 billion baht and fourth-quarter 2026 profit momentum to reach 10 billion baht, lifting full-year 2026 profit to 32 billion baht. DAOL recommends bank stocks KTB, KBANK and KKP, along with data center and power plant theme stocks GPSC, BGRIM and ADVANC. It also noted that foreign investors were net sellers of Thai stocks to the tune of 850.49 million baht on October 2, 2026, and that the baht closed at 33.55 baht per dollar.

Impact on assets 8

Financials▲ · 3 stocks
Energy Transition & Power Demand▲ · 2 stocks
Global Power Synergy PCL
GPSC
▲ PositiveDemandrelevance

DAOL recommends GPSC as a data center and power plant theme stock, implying expected demand for its power capacity.

Electrification & Mobility▲ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks

Off-coverage companies 1

DAOL Securities (Thailand) Public Company LimitedPrivate± Mixed
relevance

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