Asia Plus Securities says the stock market is facing pressure from four key uncertainties: the Middle East conflict and Hormuz Strait transit fees, cyber threats in the United States, the US-China trade war, and the unwinding of yen carry trades. As a result, foreign capital has sold off more than 886 million baht worth of Thai equities over the past two weeks. The research team advises investors to reposition portfolios defensively, focusing on defensive sectors and high-dividend stocks such as BDMS, BBL, and CPALL, as well as energy names like PTTEP and PTT to hedge against oil price risk. It also recommends holding gold through GOLDUS80 or ZIJIN80 and considering short USDJPY positions to reduce portfolio volatility.
Bangkok Bank PCL
CP ALL Public Company Limited
PTT Public Company Limited
