Krungsri Keeps SET Year-End 2026 Target at 1,680-1,750 Points, Unveils 3 Investment Themes for AI CAPEX and El Niño

Kaohoon··TH·Read original
3▲9 ▼0Impact / 5
Summary · why it matters

Krungsri Securities Public Company Limited, or KSS, has maintained its SET index target for the end of 2026 at 1,680-1,750 points, assessing that the Thai stock market in the fourth quarter of 2026 is likely to recover strongly, driven by the start of a new investment cycle powered by AI technology, production base relocation, and energy security. As a result, credit growth in Asia has accelerated to 8.5% year-on-year, the highest level in 18 years. Meanwhile, Krungsri research has raised its forecast for Thailand's 2026 GDP to 2.1% from 1.9%, supported by private investment expected to expand 8.6% and exports expanding 14.0% year-on-year. Earnings of Thai listed companies in the second quarter of 2026 hit a record high, growing 12% year-on-year, marking the sixth consecutive quarter of expansion, the longest streak since the third quarter of 2011. Krungsri Securities therefore recommends an overweight position in three main themes: stocks benefiting from the Asia-Thailand CAPEX Cycle, stocks with potential for NTM re-ratings, and stocks benefiting from a super El Niño. Its top picks for the fourth quarter are TOP, PTTGC, SCC, IVL, GULF, DELTA, and KBANK, and it also recommends keeping an eye on mid-small cap stocks such as THAI HANA and ERW.

Impact on assets 10

Energy Transition & Power Demand▲ · 2 stocks
Electrification & Mobility▲ · 1 stocks
Critical Materials & Supply Chain▲ · 1 stocks
Indorama Ventures PCL
IVL
▲ PositiveDemandrelevance

Named as a top Q4 pick benefiting from the Asia-Thailand CAPEX Cycle theme.

Financials▲ · 1 stocks
Materials▲ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
Consumer Discretionary▲ · 1 stocks
Semiconductors▲ · 1 stocks
Aerospace & Aviation▲ · 1 stocks
© 2026 MarketIVNews