SET: Thai Stock Inflows are Long-Term Buys, Not 'Hot Money'

Khaosod•Economy•2h ago

Reader Briefing

The Stock Exchange of Thailand (SET) views recent capital inflows as genuine investment rather than speculative 'hot money,' driven by confidence in long-term holding power and improving economic stability.

•The Stock Exchange of Thailand (SET) reports that recent inflows into the Thai stock market are indicative of genuine, long-term investment, not 'hot money'.
•Political stability and successful government formation are identified as crucial factors attracting investor confidence.
•Positive GDP figures and initiatives like 'fast track' approvals are contributing to a favorable market atmosphere.
•The SET acknowledges a past slowdown in the capital market but sees signs of recovery, with improving PE ratios and increased stability.

Overview

•The Stock Exchange of Thailand (SET) is observing capital inflows into the Thai stock market.
•SET President Assadej Konjirmsiri stated that these inflows are considered genuine investment rather than 'hot money'.
•This assessment is based on buying power not immediately exiting for profit, reflecting medium- to long-term holding behavior.
•Political stability is highlighted as a critical factor for investor confidence, influencing recent market trends.
•The SET notes that strong investment promotion requests filed with the Board of Investment (BOI) indicate potential for real investment and job creation.
•Positive GDP figures for the fourth quarter are contributing to a beneficial market sentiment.
•The SET acknowledges a slowdown in the Thai capital market over the past 3-4 years, attributed to valuation concerns and geopolitical/domestic instability.
•Assadej Konjirmsiri expressed optimism about current market conditions, stating, 'Right now, many things are falling nicely into place. Let's hope nothing disrupts it.'

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Key Quotes

Assadej Konjirmsiri

"“Right now, many things are falling nicely into place. Let's hope nothing disrupts it.”"

“ตอนนี้หลายๆ อย่างกำลังเข้าแถวมาอย่างสวยงาม อย่ามีอะไรแตกแถวก็แล้วกัน”

Assadej Konjirmsiri

"“We admit that over the past 3-4 years, the Thai capital market has been slow. Stock prices (PE) have decreased, causing many companies to postpone listing decisions, not just due to valuation, but also geopolitical uncertainty and domestic stability.”"

“ยอมรับว่าในช่วง 3-4 ปีที่ผ่านมา ตลาดทุนไทยอยู่ในภาวะชะลอตัว ระดับราคาหุ้น (PE) ปรับลดลง ส่งผลให้หลายบริษัทชะลอการตัดสินใจเข้าจดทะเบียน ไม่เพียงเพราะปัจจัยด้านมูลค่าเท่านั้น แต่ยังรวมถึงความไม่แน่นอนด้านภูมิรัฐศาสตร์และเสถียรภาพในประเทศ”

Key Entities

Organization

Stock Exchange of Thailand(ตลาดหลักทรัพย์แห่งประเทศไทย)ℹ️

The national stock exchange responsible for overseeing the Thai stock market.

Board of Investment(สำนักงานคณะกรรมการส่งเสริมการลงทุน)ℹ️

Thai government agency responsible for promoting investment in Thailand.

Person

Assadej Konjirmsiri(อัสสเดช คงสิริ)

President and CEO of the Stock Exchange of Thailand.