UOB Asset Management (Thailand) has a positive view on Thai stocks for the second half of 2026 through 2027, with Nattapon Chansivanon, Managing Director of the Investment Division, stating that the market will be supported by the recovery in listed-company earnings, which have grown for six consecutive quarters. He expects EPS this year to potentially exceed 100 baht per share for the first time in several years, up from roughly 90 baht per share over the past decade. Meanwhile, the National Economic and Social Development Council has raised its 2026 GDP forecast to 2.2% from 2.0%. UOB Asset Management has set three scenarios for the SET Index at the end of 2026, assigning the greatest weight to the base case at 1,650 points if the war drags on but ends by late this year; the best case at 1,750 points if the war ends quickly and oil prices fall rapidly; and the worst case at 1,540 points if the war is prolonged and oil prices stay high. On portfolio allocation, it recommends raising the Thai equity weighting to 30% and overseas equities to 70%, with the overseas portion focused on technology, about 50% in the United States and 20% in Asia. It also sees AI as a long-term theme and expects the Bank of Thailand to hold interest rates steady throughout this year and possibly cut the policy rate once next year to 0.75%.
UOB Asset Management is the source of the outlook, but the article reports its market views rather than any company-specific development affecting it.
