Krungsri Securities expects SET to swing upward, buoyed by strong Q2 earnings, prompting full-year target upgrades

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Summary · why it matters

Krungsri Securities expects the SET index to move sideways to up today, with resistance at 1,629 and 1,635 points and support at 1,615 and 1,610 points. The market is supported by the US manufacturing PMI, which came in higher than expected, boosting global investment momentum. In addition, second-quarter 2026 earnings of Thai listed companies exceeded forecasts, leading to upward revisions of full-year earnings estimates to 101.8 to 101.9 baht per share and driving the SET higher in this cycle. The research team also noted that the Thai stock market is not expensive, based on an earnings yield gap as high as 3.75 percent. They recommended three investment themes: investment-theme stocks such as GULF and KBANK, stocks benefiting from government stimulus measures like GLOBAL, and stocks expected to recover over the next year.

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