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ASPS sees Thai equities recovering
Bangkok Post
|July 24, 2025
Several factors to fuel a revival in H2
Thai equities are expected to recover in the second half of 2025, supported by expansionary fiscal measures, a more accommodative monetary policy stance and key earnings drivers, according to Asia Plus Securities (ASPS).
According to Therdsak Thaveeteeratham, ASPS's executive vice-president, the government's forthcoming fiscal stimulus — likely to follow the approval of the 2026 annual budget — combined with anticipated policy rate cuts, could improve market sentiment. ASPS estimates that each 25-basis-point rate cut could lift the SET Index by around 70 points.
"The timing is now appropriate for a rate cut. Given the current economic conditions, we expect 1-2 policy rate reductions this year, each of which could act as a catalyst for the equity market," Mr Therdsak noted.
ASPS also sees additional upside from specific corporate catalysts. These include the anticipated mid-August relisting of Thai Airways International Plc (THAI) and a major strategic transaction by Siam Cement Group (SCC).
Both are expected to help push the SET's earnings per share (EPS) above 90 baht in 2025.
This story is from the July 24, 2025 edition of Bangkok Post.
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