Kasikorn Securities says Finance Ministry raises 2026 GDP target to 2.5%, supporting investment stocks

Macro
โดย Kaohoon·Read original
Summary · why it matters

Kasikorn Securities holds a positive view on the Thai economy after the Ministry of Finance raised its 2026 economic growth forecast to 2.5% from 1.6%. A key factor is private investment, which is expected to expand by as much as 9%, driven by projects receiving investment promotion from the Board of Investment, especially in data center businesses. This has led to outstanding growth in machinery and equipment investment. The Office of the National Economic and Social Development Council is scheduled to announce second-quarter 2026 GDP figures on August 17, 2026. Kasikorn Securities expects investment to be the most prominent growth engine compared with other economic components, and this may prompt several research houses, including Kasikorn Securities, to raise their GDP forecasts going forward. Currently, Kasikorn Securities maintains its 2026 GDP forecast at 2.0%, seeing room for upward revisions in private consumption at 2.2% and investment at 4.5%. Meanwhile, the export sector continues to show better-than-expected trends, though the positive impact may be partially offset by expanding imports. For investment strategy, Kasikorn Securities remains positive on stocks related to investment and infrastructure, namely Krung Thai Bank, Gulf Energy Development, WHA Utilities and Power, CH. Karnchang, and Bangkok Expressway and Metro.

Impact on stocks 5

Industrials▲ · 2 stocks
CH. Karnchang PCL
CK
▲ PositiveDemandrelevance

Increased private investment and infrastructure projects drive demand for construction services.

Energy Transition & Power Demand▲ · 1 stocks
Financials▲ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
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