Kasikorn Securities sees SET swinging between 1,560 and 1,620 this week, recommends SCGP and WHA

โดย HoonVision·THUSCN·Read original
Summary · why it matters

Kasikorn Securities estimates the SET Index will trade in a range of 1,560 to 1,620 this week, expecting the Thai stock market to recover after the Fed meeting and see a buy-on-fact rally even though the Fed raised rates for the first time in three years and signalled at least one more hike this year. Slowing oil prices help ease inflation concerns and support risk assets, but investors still need to watch Houthi attacks on oil facilities and the blockade of shipping routes, which could disrupt oil exports through the Red Sea and make oil prices volatile. The 10-year US bond yield eased slightly after testing 5%, while the Dollar Index held steady around 100, pushing the baht weaker to 33.3 per dollar and the yen lower after the Bank of Japan gave no signal of accelerating rate hikes. The key highlight this week is the discussion between Trump and Xi Jinping on September 24 on energy, AI and trade. Domestically, investors are watching the two-month extension of the Thai Chai Thai Plus programme and August export figures. The strategy focuses on accumulating stocks expected to post strong profit growth, with DELTA, SCC, SCGP and BCH chosen as the week's top picks. For SCGP, the base price target is 37.30 baht after second-quarter 2026 profit of 2.3 billion baht, up 128% year on year and 47% quarter on quarter, beating expectations on Fajar's recovery and the pulp and paper business's EBITDA margin rising to 9.5%. For WHA, the base price target is 6.25 baht based on the sum-of-the-parts method. In the short term, uncertainty in Thailand's data centre business after the government set up a policy committee on the data centre business could pressure the share price, but in the longer term strong operating momentum in the second half of 2026 should draw investors back.

Impact on assets 6

Materials▲ · 1 stocks
SCG Packaging Public Company Limited
SCGP
▲ PositiveCapitalrelevance

Kasikorn Securities names SCGP a top pick with a 37.30 baht base price target after Q2 2026 profit beat on Fajar's recovery and rising pulp/paper EBITDA margin.

Artificial Intelligence▲ · 1 stocks
WHA Corporation Public Company Limited
WHA
± MixedRegulationrelevance

Kasikorn names WHA a top pick with a 6.25 baht SOTP target, but near-term data-centre policy-committee uncertainty could pressure the share price despite strong H2 2026 momentum.

Health Care▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
Climate Adaptation & Water▲ · 1 stocks
Others▲ · 1 stocks

Off-coverage companies 1

Fajar Surya Wisesa TbkPrivate± Mixed
relevance

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