Thai stock index expected to trade between 1,555–1,620 points in September, with volatility in the first half driven by domestic political factors (cabinet reshuffle, senate court ruling) and Fed policy signals, then potential recovery in the second half supported by government economic stimulus measures. Investment strategy focuses on four themes: state stimulus beneficiaries (tourism, clean energy, construction), domestic consumption recovery plays, underperformers with strong H2 2026 earnings growth, and high-dividend payers for steady cash flow.