Krungthai Commercial Bank Sees SET Index Recovery Within Range Amid US Data Watch

Key summary

Krungthai Commercial Bank Securities (KSS) forecasts that the SET Index will recover within a specific range today, citing neutral-to-positive macro factors and technical rebound potential. The firm identifies key resistance levels at 1,563/1,568 points and support levels at 1,545/1,540 points. While US markets rose slightly overnight driven by AI sentiment and tech earnings from companies like SpaceX, META, and IBM, the Thai market remains in a 'Wait & see' mode ahead of upcoming holidays. Investors are monitoring US initial jobless claims, October PMI data for manufacturing and services, and consumer inflation expectations. KSS highlights DELTA as a standout stock expected to grow year-on-year and quarter-on-quarter following its 3Q26 earnings announcement next week. Other recommended themes include energy security (PTT, PTTEP, TOP), stocks with strong 3Q26 profit prospects (KCE, AOT, BDMS, BCH, COM7, MTC), and AI beneficiaries (GULF). Foreign investors bought net Thai stocks for approximately US$45.96 million yesterday, up from US$4.15 million the previous day. KSS also notes PTTGC as a potential candidate for MSCI upgrade to Standard Index status.