PINTHONG INDUSTRIAL PARK PUBLIC COMPANY LIMITED

The Ministry of Finance has disclosed progress on the Thailand Individual Savings Account scheme, or TISA, and is preparing to scrap the tax-benefit multiplier so that all citizens receive equal tax deductions. Clearer details and the deduction limit framework are expected in September. The research arm of TTB Wealth Securities views this as positive for the overall stock market, as it will encourage more people to invest in equities, and positive for 14 high-dividend stocks: ADVANC, KTB, KKP, KTC, AMATA, PIN, THANI, SAK, CPN, HMPRO, PTG, SIRI, SPALI, and SAT.

Prime Minister Anutin Charnvirakul held talks with Huawei executives, with the company looking to expand its investment in AI and cloud in Thailand, building on cooperation in digital technology and workforce development. The government is ready to support Huawei as a technology partner to elevate Thailand towards an AI-driven economy. Earlier, Chinese Big Tech groups confirmed investment plans in Thailand worth over 70 billion baht this year in high-tech industries such as optical transceiver equipment for data centers, semiconductors, and expanding EV production capacity through the BOI's Thailand FastPass policy. Research views that the data center and digital economy theme in Thailand will continue to attract Chinese capital, a positive for industrial estate groups like WHA, AMATA, PIN, and S, as well as power plant groups such as GULF, GPSC, and GUNKUL.

Asia Plus Securities research reports that four major Chinese technology and automotive companies are preparing to expand investments in Thailand worth a combined 70 billion baht this year, focusing on two future industries: AI and data center technology, where Innolight Technology and Eoptolink Technology will expand production bases for optical transceivers to support AI and cloud data center growth, and the electric vehicle industry, where Xiaomi Corporation is considering setting up an EV production base and research and development center in Thailand, while Changan Automobile is moving ahead with expanding production capacity from 100,000 to 200,000 units per year by 2030, along with establishing a regional headquarters and an EV R&D center. Stocks expected to benefit include industrial estate groups such as AMATA, WHA, ROJNA, and PIN; automotive groups such as AH, SAT, and STANLY; parts groups such as HANA, DELTA, KCE, and SMT; and energy groups such as GULF.

Asia Plus Securities expects the SET Index this afternoon to remain capped by resistance at 1,640 to 1,642 points, with caution warranted against profit-taking as the market is at the tail end of wave b. The chance of a sustained breakout above resistance at 1,642 to 1,645 points and 1,657 points is low. The firm recommends finding opportunities to sell into strength. It also outlines a strategy for S50U26, having shorted on 15 July at 1,075 to 1,082 points and waiting to add shorts at 1,095 to 1,100 points, with a stop-loss if the index breaks above 1,105 points. Meanwhile, the Board of Investment is pushing to attract Xiaomi, Changan, Innolight, and Eoptolink to expand investments in Thailand, covering the EV, AIOT, AI data centre, and photonics technology industries. This will support investment in Thai supply chains and increase the chance of relocating AI and electronics production bases to Thailand. Stocks expected to benefit include industrial estate groups such as AMATA, WHA, ROJNA, and PIN, electronics groups such as DELTA, HANA, KCE, and CCET, and data centre and energy groups such as GULF and GPSC. Additionally, the escalation of military operations between the United States and Iran is supporting a weaker baht, with a target of 33.80 to 34.00 baht per dollar, while caution is needed over potential capital outflows, as indicated by the VIX Index recovering as expected in a double bottom and descending triangle pattern with a breakout at 18 percent and a target of 24 to 32 percent.

Four major technology and automotive companies from China are preparing to expand their investments in Thailand, totaling 70 billion baht within this year, focusing on the electric vehicle industry and AI and data center technology, according to a report by Asia Plus Securities. In the EV sector, Xiaomi Corporation is considering expanding its EV production base and establishing a research and development center in Thailand, while Changan Automobile is moving forward with expanding production capacity from 100,000 to 200,000 units per year by 2030, along with setting up a regional headquarters and an EV R&D center. In the AI and data center group, Innolight Technology is preparing to build a third factory in Saraburi province to expand production of optical modules, and Eoptolink Technology is preparing to expand production capacity at its factories in Chonburi and Rayong. Stocks expected to benefit include industrial estate groups such as Amata, WHA, Rojana, and Pin, automotive groups such as AAPICO Hitech, Somboon Advance Technology, and Stanley Electric, component groups such as Hana Microelectronics, Delta Electronics, KCE Electronics, and Stars Microelectronics, and energy groups such as Gulf Energy Development.