Asia Plus: Global Risks Drive Fund Flow to Thai Stocks

MGR Online•Economy•13h ago

Reader Briefing

Asia Plus reports that global financial pressures from geopolitical, trade, and tech wars are redirecting fund flows toward the Thai stock market.

•Three main global risk factors include the Middle East War, a potential US-Canada Trade War, and the Tech War involving Chinese AI startups.
•Foreign fund flows have entered the Thai stock market by over 44 billion baht since the start of the month.
•Asia Plus recommends SCGP, PTTEP, and TIDLOR as top picks.
•Thai export growth for June 2026 is projected at 15.2% YoY, while imports are expected to rise 35.8% YoY.

Overview

•Asia Plus identifies three risk factors: the Middle East War, Trade War, and Tech War, which are slowing the purchase of risk assets.
•The Middle East War involving Houthi groups has pushed BRENT crude oil prices to 89 dollars per barrel, increasing inflation risks.
•The US is preparing to impose 50% import tariffs on certain goods from Canada, signaling a potential resurgence of the Trade War.
•Moonshot AI, a Chinese startup, launched the Kimi K3 AI model with lower costs, causing investor concern regarding the profitability of US AI providers.
•Foreign fund flows have rotated into the Thai stock market by over 44 billion baht since the start of the month, focusing on TRUE, PTTEP, KBANK, TOP, BBL, and GULF.
•In July, over 30 billion dollars flowed into Chinese stock ETFs, reversing a 6-month net selling trend.
•Asia Plus warns that a projected trade deficit of approximately 4,000 million dollars in June 2026 may weaken the Thai Baht and cause imported inflation.
•Thai exports grew by 10.59%, which is slower than neighboring countries such as South Korea (+70.7%) and Taiwan (+40.3%).

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Key Entities

Organization

Asia Plus Securities(บล.เอเซีย พลัส)

A securities firm that assesses global financial markets and provides stock recommendations.

Houthi(ฮูตี)ℹ️

A group supported by Iran that announced blockades of seas and airports in Saudi Arabia.

Moonshot AI(MOONSHOT AI)ℹ️

A Chinese startup that launched the Kimi K3 AI model.

TRUE

A communication company targeted by foreign fund flows.

PTTEPℹ️

An energy company identified as a top pick and a target of foreign fund flows.

KBANK

A bank targeted by foreign fund flows.

TOP

An energy company targeted by foreign fund flows.

BBL

A bank targeted by foreign fund flows.

GULF

An energy company targeted by foreign fund flows.

SCGP

A company identified as a top pick by Asia Plus Securities.

TIDLOR

A company identified as a top pick by Asia Plus Securities.

Place

Middle East(ตะวันออกกลาง)ℹ️

A region experiencing war and tension that affects global oil prices.

Iran(อิหร่าน)ℹ️

A country that supports the Houthi group.

Saudi Arabia(ซาอุดีอาระเบีย)ℹ️

A country facing sea and airport blockades by the Houthi group.

Bab al-Mandab Strait(ช่องแคบบับอัล-มันเดบ)

An exit to the Red Sea ordered to be closed by the Houthi group.

United States(สหรัฐฯ)ℹ️

A country preparing to collect 50% import tariffs on certain Canadian goods.

Canada(แคนาดา)ℹ️

A country whose dairy, alcohol, and hockey equipment may face US import tariffs.

China(จีน)ℹ️

A country experiencing fund inflows into its stock ETFs and hosting Moonshot AI.

Thailand(ไทย)ℹ️

A country whose stock market is acting as a safe haven for foreign fund flows.

South Korea(เกาหลีใต้)ℹ️

A country with export growth of 70.7%.

Taiwan(ไต้หวัน)ℹ️

A country with export growth of 40.3%.

Vietnam(เวียดนาม)ℹ️

A country with export growth of 28.1%.