Maybank Raises Thai Stock Index Target to 1,500 Points, Citing Political Stability

Maybank Securities (Thailand) has raised its Stock Exchange of Thailand (SET) year-end target to 1,500 points by adjusting the P/E valuation to a long-term average of 16.0 times from 14.5 times. This reflects increased expectations of political stability, which will support economic policy progression and boost consumption, investment, and trade. Following the unofficial election results, the Bhumjaithai Party secured the most seats and is likely to lead a coalition government, providing significant parliamentary support and the level of political stability that financial markets desire. Maybank expects the new government to focus on domestic consumption stimulus, reducing living costs, and accelerating foreign direct investment through fast-track mechanisms, with potential infrastructure projects worth around 1.5 trillion baht.