Summary · why it matters
CGS International Securities (Thailand), or CGSI, assessed the outlook for the Thai stock market, seeing the SET Index in a range of 1,580-1,600 points with a chance to retest the 1,600 level, tracking positive moves in overseas markets. Key support comes from the slowdown in oil prices and bond yields, which eases inflation concerns and boosts demand for risk assets after the US Federal Reserve raised interest rates as the market expected. In the US stock market on September 17, the Dow Jones closed at 51,778.04 points, up 316.14 points or 0.61%; the S&P 500 closed at 7,637.76 points, up 85.95 points or 1.14%; and the Nasdaq closed at 26,418.30 points, up 439.87 points or 1.69%. Europe's STOXX 600 closed at 642.60 points, up 5.51 points or 0.86%. In the oil market, the October WTI crude contract fell 52 cents, or 0.51%, to close at 101.91 dollars per barrel, while the November Brent crude contract fell 1.01 dollars, or 0.95%, to close at 104.82 dollars per barrel, after reports that Saudi Arabia increased crude shipments to Asian refineries via Oman. December COMEX gold rose 12.20 dollars, or 0.28%, to close at 4,399.70 dollars per ounce. On investment strategy, CGSI recommends Delta Electronics (Thailand), or DELTA, expecting revenue in the second half of 2026 to grow better and third-quarter 2026 revenue to grow about 15% from the previous quarter, with a take-profit level at 244.00 baht and a stop-loss at 237.00 baht. It also recommends Gulf Development, or GULF, expecting renewable energy projects, the data center business, and the MTP3 LNG Terminal project to drive profit growth after 2030, maintaining a buy rating with a take-profit level at 62.25 baht and a stop-loss at 60.50 baht.
Delta Electronics (Thailand) Public Company Limited
Gulf Energy Development Public Company Limited