{"id":6535,"date":"2026-07-29T15:30:00","date_gmt":"2026-07-29T08:30:00","guid":{"rendered":"https:\/\/brokerth.com\/?p=6535"},"modified":"2026-07-29T15:30:00","modified_gmt":"2026-07-29T08:30:00","slug":"set-1652-stalls-13session-foreign-buying-2026-en","status":"publish","type":"post","link":"https:\/\/brokerth.com\/en\/set-1652-stalls-13session-foreign-buying-2026-en\/","title":{"rendered":"SET Index Stalls Near 1,652 After 13-Session Foreign Buying Streak in July 2026"},"content":{"rendered":"<p>Thailand&#8217;s SET Index peaked at 1,652.97 on July 22 before easing to a range of 1,627&#8211;1,635 by July 27. A 13-session foreign buying streak drove most of the move, with sustained capital flowing into Thai equities as risk sentiment improved globally. That streak is now slowing, and the index is in the consolidation phase that typically follows a fast foreign-driven run. The question is not whether the rally was real &#8212; it was &#8212; but what sustains it from here.<\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/brokerth.com\/en\/set-1652-stalls-13session-foreign-buying-2026-en\/#What_Drove_the_13-Session_Rally\" >What Drove the 13-Session Rally<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/brokerth.com\/en\/set-1652-stalls-13session-foreign-buying-2026-en\/#Support_at_1635_Resistance_at_1660\" >Support at 1,635, Resistance at 1,660<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/brokerth.com\/en\/set-1652-stalls-13session-foreign-buying-2026-en\/#Why_Foreign_Flows_Are_Slowing\" >Why Foreign Flows Are Slowing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/brokerth.com\/en\/set-1652-stalls-13session-foreign-buying-2026-en\/#What_Thai_Equity_Investors_Should_Do\" >What Thai Equity Investors Should Do<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/brokerth.com\/en\/set-1652-stalls-13session-foreign-buying-2026-en\/#Sectors_Worth_Watching\" >Sectors Worth Watching<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Drove_the_13-Session_Rally\"><\/span>What Drove the 13-Session Rally<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Foreign fund inflows into SET stocks correlate with two things: risk-on sentiment globally and softening US rate expectations. The early-to-mid July period saw US economic data come in mixed enough to temporarily reduce fears of Fed tightening. That triggered a brief emerging market rotation where capital moved into ASEAN equities, with Thailand receiving a meaningful share.<\/p>\n<p>The global technology stock rebound was a second driver. Daol Securities noted that Thai tech-linked stocks &#8212; particularly companies in the semiconductor supply chain &#8212; benefited from the same tailwind lifting NASDAQ-listed names. Thailand&#8217;s tech weighting in SET is not large, but it is enough to move the index when global sentiment tilts positive.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Support_at_1635_Resistance_at_1660\"><\/span>Support at 1,635, Resistance at 1,660<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>After the July 22 high of 1,652.97, the index found support in the 1,635&#8211;1,640 zone. The July 27 range of 1,627&#8211;1,635 stayed above that level, which is a constructive signal. Resistance sits at 1,660, with further resistance at 1,670. A break above 1,660 on foreign buying would confirm the rally&#8217;s continuation; a close below 1,627 would indicate the consolidation has turned into a correction.<\/p>\n<p>Market consensus is sideways in the near term. Upside momentum depends on sustained foreign inflows and the global tech rally maintaining traction &#8212; neither guaranteed, particularly with the September Fed hike probability now at 46.5%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Foreign_Flows_Are_Slowing\"><\/span>Why Foreign Flows Are Slowing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Thirteen consecutive sessions of buying creates its own momentum slowdown. Investors who entered at lower prices in the early sessions now have profits to consider. The fundamental thesis &#8212; &#8220;buy emerging markets when the Fed looks stable&#8221; &#8212; reverses quickly when US data comes in strong and rate hike expectations return. The July 29 FOMC outcome, with September hike odds rising to 46.5%, is exactly the kind of event that causes foreign investors to reassess their emerging market positions.<\/p>\n<p>Middle East tensions cited by Daol Securities as a secondary risk factor represent an oil price volatility overlay. A significant energy price spike would hit Thailand&#8217;s import costs, raise inflation risk, and potentially push the BOT toward a less accommodative stance &#8212; a negative scenario for growth-sensitive Thai equities.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_Thai_Equity_Investors_Should_Do\"><\/span>What Thai Equity Investors Should Do<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The SET&#8217;s move from roughly 1,580&#8211;1,590 at the start of Q3 to a 1,652 peak is a 4% gain in a short window. For investors already positioned, that is a solid outcome in a market that has traded in a frustrating band for much of 2026.<\/p>\n<p>For investors considering adding at current levels, the case requires three conditions: the September Fed hike does not materialize, global tech maintains momentum, and Thai corporate earnings for Q2 (starting to report in August) beat consensus. That is three simultaneous conditions &#8212; a higher bar than the simple &#8220;rates stabilizing&#8221; thesis that drove the July inflows.<\/p>\n<p>Watch the 1,627 support level. A breach with foreign selling would indicate the July trade has fully unwound. A hold above it with tapering volume is the more likely scenario &#8212; a quiet consolidation before the next directional move clarifies with August data.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Sectors_Worth_Watching\"><\/span>Sectors Worth Watching<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Banking stocks &#8212; KBank, SCB, Krungthai &#8212; received disproportionate foreign buying as the most liquid large-cap names international funds access first. If the rally resumes, banks remain the primary vehicle. Energy stocks face a mixed backdrop with oil price uncertainty. Consumer discretionary remains under pressure from the same household debt dynamics constraining the BOT at 1% &#8212; a drag that does not disappear just because the index had a good two weeks.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Thailand&#8217;s SET hit 1,652.97 on July 22 then pulled back to 1,627-1,635. A 13-session foreign buying streak is slowing. Key support at 1,635 and resistance at 1,660 frame the next move.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_gspb_post_css":"","footnotes":""},"categories":[34],"tags":[],"offerexpiration":[],"class_list":["post-6535","post","type-post","status-publish","format-standard","hentry","category-investing"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SET Index 1,652: Stalls After 13-Session Foreign Buying Run 2026<\/title>\n<meta name=\"description\" content=\"Thailand&#039;s SET hit 1,652.97 on July 22 then pulled back to 1,627-1,635. A 13-session foreign buying streak is slowing. 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