Broker flags 7 SET50 laggard stocks, sees foreign buying after market leaders hit tight valuations

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Summary · why it matters

Analysts at InnovestX Securities say the SET Index has risen over 31.2% from the start of the year to date, supported by foreign fund flows into electronics on the AI theme and better-than-expected domestic fundamentals. But at 1,650 points, the market is starting to face tight valuation constraints, especially for the large-cap stocks that have led the rally, where foreign ownership has exceeded the five-year average. They therefore expect a rotation of funds into laggard stocks where foreign ownership and valuations are below average, while earnings are still growing well. The short-term strategy recommends switching into laggard stocks via two themes. The first is Earnings Play, focusing on stocks with strong expected second-quarter 2026 earnings growth and a robust second half, such as ADVANC, CPN, GULF, PR9, SCGP, and TIDLOR. The second is Foreign Underowned Play, focusing on SET50 stocks where foreign ownership is below the five-year average and earnings momentum is good, such as BEM, CPALL, HMPRO, MTC, OR, TRUE, and TU.

Impact on stocks 13

Financials▲ · 2 stocks
Cloud & Digital Infrastructure▲ · 2 stocks
Consumer Discretionary▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
Health Care▲ · 1 stocks
Materials▲ · 1 stocks
Industrials▲ · 1 stocks
Digital Finance & Tokenization▲ · 1 stocks
Real Estate▲ · 1 stocks
Energy Transition & Power Demand▲ · 1 stocks
Consumer Staples▲ · 1 stocks
Thai Union Group PCL
TU
▲ PositiveCapitalrelevance

Listed as a Foreign Underowned Play with below-average foreign ownership and good earnings momentum, expected to benefit from fund rotation.

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