Federal Reserve Chair Kevin Warsh has reaffirmed his commitment to fighting inflation, leading markets to price in a 59.5-60% probability of a 0.25% rate hike in September. This has driven U.S. bond yields higher, pressuring December gold futures down over 3% to close at $4,504 per ounce. Meanwhile, Bitcoin fell from above $80,000 to $77,541, and U.S. stocks edged lower, with the Dow closing at 53,559.99 points, down 9.45 points. These concerns weighed on the Thai stock market in August, with the SET index closing at 1,588.22 points, down 2.18% from the previous month, while foreign investors were net sellers of 24.23 billion baht. However, DBS Vickers Securities (Thailand) raised its year-end 2026 SET target to 1,720 points from 1,650 points, citing expected 9% earnings growth for listed companies this year, and recommended three key stock themes: AI and digital infrastructure (GULF, HANA, TRUE), domestic consumption (CPALL, CPN, MTC), and tourism (AOT, CENTEL).
Airports Of Thailand PCL
CP ALL Public Company Limited
