Thailand Market Strategy: Marketing feedback post SG investor meetings

研报英文原文证据摘录

Thailand Market Strategy: Marketing feedback post SG investor meetings

Global Research

19 June 2026ab

Thailand Market Strategy Equity Strategy

ThailandMarketing feedback post SG investor meetings

Alex Manoonpol

Analyst

Generally positive sentiment on Thai equities alex.manoonpol@ubs.com

+662-613 5770

Investor sentiment towards Thai equities was broadly constructive during our meetings

in Singapore over the past week, with discussions focused on Thailand’s relative Sukrit Friestad

Analyststanding within ASEAN and the implications of potential rotation flows following profit-

sukrit.friestad@ubs.com

taking in energy after a US-Iran deal. The central question for many investors was where +662-613 5732

to redeploy capital, with views divided between underperforming consumer names and

tourism-related plays, alongside more selective interest in industrial estate developers.

Positioning had previously adopted a barbell approach amid Middle East tensions, but

investors are now reassessing allocations as macro visibility improves. Some participants

see scope for Thailand to outperform regionally, citing comparatively stable politics

against a softer Indonesia and an election-facing Malaysia. That said, questions remain

over the durability of baht strength given still-muted domestic demand conditions.

Most and least discussed sectors

At the sector level, sentiment was differentiated. Tourism drew strong interest given

relative underperformance of the sector after the Middle East conflict started, whereas

AOT was the most discussed stock. Discussions centred on changes to visa policy and

rising competition from regional peers, notably Vietnam. Sentiment on consumer names

remains more tactical, reflecting execution risks and patchy demand visibility. Debate