Kasikorn Securities assesses that the SET Index will move in a range of 1,550-1,580 points today, with the market likely to rebound after digesting US inflation figures that came in below expectations. August PCE stood at 3.4% year-on-year and Core PCE at 3.0% year-on-year, helping ease pressure over Fed rate hikes in the short term, even though the market still assigns weight to the chance the Fed will resume raising rates again late in the year. Earlier, the SET Index closed at 1,559.01 points, down 35.29 points or 2.21%, pressured by selling in banking, finance, retail and energy stocks, with foreign investors selling Thai shares on a net basis of 10.735 billion baht. Part of this stemmed from concerns over the impact of the flood situation, which could add downside to Thailand's economic forecasts, and the market must also monitor management of the northern water mass in early October, especially the impact on Bangkok, its surrounding provinces and key economic areas. Investment themes to watch include China's Golden Week, which supports Thai tourism, with Trip.com Group reporting that flight bookings to Phuket rose 78% year-on-year and bookings for stays of seven nights or more rose 123%; the management of roughly 3.4 billion cubic metres of northern water flowing through the Chao Phraya Dam; trade negotiations with the United States, with the goal of keeping tariffs on Thai goods at no more than 19%; and the 14th National Economic and Social Development Plan, which focuses on High Impact and Game Changer projects. For recommended stocks today, Kasikorn Securities gives STA a target price of 26.00 baht on the prospect of tight global rubber supply and expects average selling prices to rise from 2.1 dollars per kilogram in the first half to 2.3-2.5 dollars in the third and fourth quarters, and DELTA a target price of 300.00 baht, viewing the recent correction as merely a short-term reset driven by still-strong AI demand, and expects normal profit to grow by an average of about 32% during 2026-2028.
Sri Trang Agro-Industry Public Company LimitedKasikorn gives STA a 26.00 baht target on tight global rubber supply and rising average selling prices.
Trip.com Group LtdTrip.com reports flight bookings to Phuket up 78% YoY and 7+ night stays up 123% for China's Golden Week.
