Globlex Securities expects the Thai stock market to fluctuate within the range of 1,280-1,400 points in February, supported by the new government.
Globlex Securities expects the SET Index in February 2569 to move sideways up within the range of 1,280-1,400 points, supported by the Election Rally and the new government accelerating economic stimulus measures. They recommend investment strategies focusing on TRUE, TACC, TASCO, STECON, CK, and WHA stocks, anticipating strong Q4/68 earnings.
3 February 2569 – Ms. Wilawanee Boonmasungsong, Assistant Managing Director, Globlex Securities Co., Ltd. or GBS The Thai stock market is projected to move in a sideways upward pattern in February 2569, supported by the election rally sentiment. Investors continue to anticipate economic stimulus measures from the new government, which will create a positive investment climate in the Thai capital market.
Furthermore, the economy received support from several positive factors from abroad. Most recently, Democratic and Republican senators, along with the White House, reached an agreement to push through five spending bills, easing concerns about the stability of the US fiscal system. At the same time, the FED released its GDPNow model, indicating that the US economy expanded by 4.2% in Q4/2025, reflecting strong momentum in the US economy.
Geopolitical developments include Ukrainian President Volodymyr Zelenskyy expressing expectations that Russia will abide by the agreement with the United States to end attacks on Ukrainian cities, easing pressure on the population during the winter. Meanwhile, President Trump and Democratic senators reaching a temporary agreement to avoid a US government shutdown boosted confidence in global markets.
for the Thai economy The Ministry of Finance reported that the economy continued to expand in December 2568, driven by domestic tourism and exports. The Manufacturing Production Index (MPI) grew by 2.52%, supported by the automotive sector and government measures. This reflects a continued positive outlook for the Thai economy, leading to a projected range for the SET index this month of 1,280-1,400 points.
However, negative factors affecting investment still remain, particularly the declining January manufacturing PMI of 49.3, reflecting an economic slowdown. Meanwhile, the US partial government shutdown, after Congress failed to approve a budget on time, increases uncertainty about fiscal stability.
This includes President Donald Trump filing a lawsuit against the U.S. Internal Revenue Service and the Treasury Department, seeking over $1 billion in damages over a tax information leak that has pressured the investment climate. At the same time, the U.S. Treasury Department has placed Thailand on its watchlist of major trading partners whose currency exchange behavior needs to be monitored.
While the Thai economy continues to face challenges, with projected growth of only 2.0% in 2569, down from 2.2% in 2568, due to the impact of US retaliatory trade tariffs and delays in budget preparation, the US reported a 3.0% year-on-year increase in its December PPI, exceeding expectations, putting further pressure on inflation trends and monetary policy.
In addition, it is also necessary to monitor domestic factors that may affect investment. such as
- February 8th is election day; we'll see who the new government will be.
- The Monetary Policy Committee (MPC) meeting, meeting number 1/69, will be held on February 25th.
As for the international situation that is worth keeping an eye on such as
- On February 3, the United States will release the Job Openings and Labor Turnover Survey (JOLTS) figures for December.
- The FED meeting will be held on March 17-18.
Mr. Watcharin Chongyonyong, Director of Research, Globlex Securities We recommend an investment strategy for the following stocks: TRUE, TACC, TASCO, STECON, CK, and WHA, based on expectations of strong Q4/2568 earnings.
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