Thai Stock Market Seen Forming Base, Resistance at 1,475-1,483 Points

Key summary

KSS Securities analysts assessed the Thai stock market on November 9, 2026, as having the potential to form a base, with resistance levels at 1,475-1,483 points and support levels at 1,455-1,444 points. They believe the market reflects an adjustment of risk factors, consistent with the CBOE Put/Call Ratio increasing by 1.05 times and the open interest in Thai derivatives markets decreasing to 1.87 million contracts. External factors are beginning to ease, with U.S. technology stocks showing less volatility and progress in U.S.-Iran negotiations. Investment in Thailand has the potential to grow, as Google is preparing to increase its investment, which KSS estimates could potentially boost Thailand's GDP by an additional 1.6%. Recommended stocks include those in the industrial estate sector (WHA, AMATA), power plants (GULF, GPSC), and construction (STECON, PYLON, INSET). Investment strategy recommendations include three standout stocks: CPAXT, benefiting from the easing situation and reaching a low point; CPALL, supported by CPAXT and CENTEL, which are expected to have strong earnings in the third quarter of 2026; and monitor U.S. inflation on November 10 and the MSCI index rebalancing on November 11.