Pie Securities Says Surging US Yields Point to 11 Beneficiary Stocks

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3▲11 ▼0Impact / 5
Summary · why it matters

Pie Securities stated that pressure on the Thai stock market from flooding is believed to be over, but global conditions remain under pressure from the accelerating rise in US bond yields, which have repeatedly hit new record highs. US government bond yields rose across all maturities, driven by concerns over higher inflation in line with energy prices and investors demanding greater returns in light of US debt risks. Meanwhile, the CME FedWatch tool assigns a 70% probability that the Fed will raise interest rates at its October meeting. The Dow Jones Industrial Average closed down 347 points, or 0.67%, overnight, pressured by oil prices and bond yields. Brent crude closed up 0.9% amid concerns over tight supply after Trump rejected Iran's peace proposal. The research team estimates the SET index range at 1585 to 1610 points, advises increased caution, and recommends focusing on stocks that benefit psychologically from rising yields, namely the banking group BBL, KBANK, KTB, and SCB; the export group ITC and TU; the defensive group ADVANC; and the energy group PTT, PTTEP, TOP, and PTTGC. This morning the baht continues to weaken, which may pressure foreign capital flows.

Impact on assets 14

Energy Transition & Power Demand▲ · 2 stocks
PTT Public Company Limited
PTT
▲ PositiveMonetaryrelevance

Recommended as an energy-group stock benefiting from rising US yields and higher oil prices amid tight supply concerns.

Digital Finance & Tokenization▲ · 2 stocks
SCB X Public Company Limited
SCB
▲ PositiveMonetaryrelevance

SCB is named in the banking group expected to benefit from rising US bond yields and higher interest-rate expectations.

Bangkok Bank PCL
BBL
▲ PositiveMonetaryrelevance

Named among banking stocks that benefit from the accelerating rise in US bond yields.

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

Named in the export group (ITC, TU) recommended as beneficiaries of rising yields and a weakening baht.

Thai Union Group PCL
TU
▲ PositiveDemandrelevance

Recommended as an export-group stock benefiting from the weak baht, which supports export demand/competitiveness.

Energy▲ · 1 stocks
Materials▲ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Others▲ · 2 stocks
Others▲ · 1 stocks
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