InnovestX Says Q4 Strategy Favors Stock Picking, 3-5 Year Bonds, Gold Target of $5,300

โดย Prachachat·THUS·Read original
Summary · why it matters

InnovestX Securities Company Limited assessed its investment strategy for the fourth quarter of 2026, saying financial markets still face volatility from oil prices, inflation, interest rate direction and elevated bond yields, forcing investors to place greater weight on asset selection and investment timing. Sutthichai Kumworachai, Head of Investment Strategy & Research at InnovestX, said the firm raised its target for the Thai stock index in 2026 from 1,600 points to 1,700 points, after expecting market earnings per share in 2026 to grow about 22% and second-quarter economic data to be stronger than expected. He recommended a fourth-quarter strategy focused on stock selection rather than buying the whole market, viewing levels below 1,550 points as an accumulation point for fundamentally strong stocks such as AMATA, CENTEL, CRC, KTB and PR9. For fixed income, he recommended focusing on 3-5 year maturities to capture still-attractive carry yield and reduce risk from interest rate volatility, with an overweight to developed-market bonds. On gold, the firm maintained a positive medium- to long-term view, estimating a 12-month price target of 5,300 US dollars per ounce on demand for diversification and capital flowing back into gold ETFs. The Thai stock market from the start of 2026 through the close on October 1, 2026 saw the SET Index at 1,563.91 points, up about 24.15% from 1,259.67 points at the end of 2025. Domestic retail investors were the largest net buyers at 58,807.49 million baht, while domestic institutional investors were the largest net sellers at about 86,397.26 million baht. From late September through early October 2026, foreign investors sold Thai shares for eight consecutive trading sessions totaling more than 34,162 million baht. Data from the Thai Bond Market Association showed that in September 2026 foreign investors were net sellers of Thai bonds worth 22,003 million baht, bringing the cumulative year-to-date net foreign selling of Thai bonds to 9,426 million baht.

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