Pie says surging US yields pressure SET to 1585-1610 range, recommends beneficiary stocks

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

Pie Securities stated that pressure from flooding on the Thai stock market is believed to be over, but global conditions remain pressured by the accelerating rise in US bond yields, which have continuously hit new record highs amid concerns over rising inflation driven by energy prices, and investors demanding higher returns in line with risks from US debt problems. It assesses the SET range at 1585 to 1610 points and recommends increased caution while focusing on stocks that benefit psychologically from rising yields, such as banking groups BBL, KBANK, KTB, SCB; export groups ITC, TU; defensive groups like ADVANC; and energy groups PTT, PTTEP, TOP, PTTGC. Meanwhile, CME FED Watch gives as much as 70% weight to the FED raising interest rates at its October meeting. The DJIA closed down 347 points, or 0.67%, overnight, pressured by oil prices and rising bond yields. Brent crude oil closed up 0.9% amid concerns about tight supply after Trump rejected Iran's peace proposal. Recommended stocks are ITC with a buy recommendation and target of 19.90 baht, expecting outstanding growth in Q3 2026 to 5,417 million baht, and KBANK with a buy recommendation and target of 259 baht, expecting net profit to grow 2% in 2026 and expand 4% in 2027.

Impact on assets 13

Consumer Staples▲ · 2 stocks
i-Tail Corp. PCL
ITC
▲ PositiveDemandrelevance

Pie recommends ITC with a buy rating and target of 19.90 baht, expecting outstanding Q3 2026 growth to 5,417 million baht.

Financials▲ · 2 stocks
Kasikornbank Public Company Limited
KBANK
▲ PositiveMonetaryrelevance

Rising US bond yields and expected Fed rate hike are seen benefiting banking groups, with KBANK recommended as a buy with a 259 baht target on profit growth.

Digital Finance & Tokenization▲ · 2 stocks
Energy Transition & Power Demand▲ · 2 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Energy▲ · 1 stocks
Materials▲ · 1 stocks
Others▲ · 2 stocks
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