Krungsri Highlights Stocks to Reap Benefits as Thailand’s Inflation Trend Aligns With BOT’s Policy Stance

published 10 d ago · en · source ↗

Affected tickers

AMATA BE CPALL JMT KBANK KTB MTC OR STECON WHA

Per-ticker News Sentiment Indicator

AMATAmacro · positive · med
Krungsri Securities identifies AMATA as a beneficiary of favorable inflation trends and a supportive monetary policy stance from the Bank of Thailand.
BEother · neutral · high
The article discusses Thai macroeconomic trends and local stocks, providing no information relevant to the operations or financial outlook of Bloom Energy Corp.
CPALLmacro · positive · med
Krungsri Securities identifies CPALL as a beneficiary of lower inflation and a dovish interest rate environment, which supports domestic consumption.
JMTmacro · positive · med
Krungsri Securities identifies that a dovish interest rate environment and easing inflation trends are expected to benefit hire purchase firms like JMT.
KBANKmacro · positive · med
Krungsri Securities identifies KBANK as a beneficiary of the current inflation and interest rate trends, which are expected to support investment-driven stocks.
KTBmacro · positive · med
Krungsri Securities expects that Thailand's moderating inflation and the Bank of Thailand's dovish monetary policy stance will support investment-driven stocks, specifically naming KTB as a beneficiary.
MTCmacro · positive · med
Krungsri Securities identifies that lower inflation trends support a dovish monetary policy, which is expected to benefit hire purchase firms like MTC.
ORmacro · positive · med
The moderation in inflation and the expectation of a dovish monetary policy stance are generally supportive of domestic consumption and retail-related stocks like OR.
STECONmacro · positive · med
Krungsri Securities identifies STECON as an investment-driven stock expected to benefit from the Bank of Thailand's dovish monetary policy stance and lower interest rate environment.
WHAmacro · positive · med
Krungsri identifies WHA as a beneficiary of favorable inflation trends and a potential dovish monetary policy stance from the Bank of Thailand.

Article body

Krungsri Securities (KSS) has provided its latest analysis regarding Thailand’s June inflation data, highlighting a moderation in the Consumer Price Index (CPI) growth year-on-year. According to Krungsri, headline inflation for June stood at 2.42% year-on-year, easing from the previous month and coming in better than market expectations of 2.87%. Furthermore, core inflation, which excludes raw food and energy, was reported at 1.23% year-on-year—slightly above market expectations of 1.1%, and higher than the previous month’s figure of 0.92%. Krungsri interprets this data as confirmation that Thailand’s inflation has likely passed its peak. This development is seen as supportive of the Bank of Thailand’s (BOT) dovish monetary policy stance, either maintaining or further easing its policy rate, keeping the benchmark interest rate at 1% throughout 2026. The brokerage also notes that these inflation and interest rate trends are expected to have a positive impact on the SET Index. Unlike previous rallies that were concentrated in specific sectors, the current upswing is anticipated to be broader across different industry groups. Low interest rates are forecasted to benefit domestic consumption-related stocks, including firms involved in hire purchase such as KTC, MTC, and JMT , as well as retail giants like CPALL . Additionally, these conditions are expected to support investment-driven stocks, such as banking names like KBANK and KTB, construction companies such as STECON, PYLON, and INSET, electricity providers including GUNKUL and WHAUP, and industrial estate operators AMATA and WHA .