CGSI Expects SET to Rebound with Global Stocks, Eyes Fed Rate Hold in October

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Summary · why it matters

CGSI International (Thailand), or CGSI, expects the SET Index to post a strong gain this morning, tracking the direction of Asian stock markets, with a trading range of 1,560-1,585 points, after weaker-than-expected US employment figures eased pressure on the Federal Reserve's monetary policy and bolstered hopes that the Fed will hold interest rates at its October meeting. Earlier, the Dow Jones closed at 51,176.96 points, up 250.40 points, or 0.49%, while the S&P 500 closed at 7,722.72 points, up 0.73%, and the Nasdaq closed at 27,190.86 points, up 1.19%. Crude oil prices rose after Houthi forces in Yemen fired missiles and drones at a Saudi Aramco facility in Riyadh and the Khurais oil field, while OPEC+ decided to keep its oil production policy for November unchanged for a second consecutive month, sending Brent crude up 81 cents, or 0.79%, to 103.06 dollars per barrel, and WTI up 46 cents, or 0.50%, to 91.57 dollars per barrel. Among its recommended stocks, CGSI said DELTA is expected to post revenue growth of about 15% in the third quarter of 2026 compared with the previous quarter, with a profit target of 267.00 baht and a stop-loss at 258.00 baht. SPRC is expected to see refining margins remain above the industry cycle average of about 5-6 US dollars per barrel in 2027, with a profit target of 15.10 baht and a stop-loss at 14.50 baht.

Impact on assets 2

Electrification & Mobility▲
Energy▲
Star Petroleum Refining Co Ltd
SPRC
▲ PositivePricingrelevance

CGSI expects SPRC's refining margins to stay above the 5-6 USD/bbl industry cycle average in 2027, supporting margin power.

Off-coverage companies 2

Saudi Aramcoi
Private▼ NegativeGeopoliticsrelevance

Houthi missiles and drones struck a Saudi Aramco facility in Riyadh and the Khurais oil field.

CGS International Securities (Thailand) Co., Ltd.i
Private± Mixedrelevance

CGSI is the source of the SET outlook and stock recommendations, not a subject of the news.