SET
- Thailand News
SET soon to adpot AI for monitoring of listed companies
The Stock Exchange of Thailand (SET) is set to implement artificial intelligence (AI) tools to enhance its monitoring of listed companies amid growing concerns about corporate fraud. SET President Asadej Kongsiri explained that the AI adoption will enable the bourse to more rapidly detect irregular share price movements and trading activities, allowing for quicker investor notifications. Asadej highlighted that late…
- Thailand News
THG distances from former chairman’s fraud allegations
In a statement to the Stock Exchange of Thailand (SET) today, November 25, Thonburi Healthcare Group (THG) Plc affirmed that its operations remain unaffected by the alleged fraud scandal surrounding its former chairman, Doctor Boon Vanasin, and his family members. The healthcare group emphasised that Dr Boon stepped down from his positions as chairman and director in August 2022, and…
- Business News
Thai ESG fund rockets to top spot with impressive returns
One Equity Thailand ESG Fund (ONE-THAIESG) is stealing the spotlight in the Thai ESG fund scene, boasting a whopping 8.53% return this year, as proudly announced by One Asset Management (ONEAM). What’s behind this stellar performance? A one-two punch of a policy rate cut by the US Federal Reserve and Thailand’s very own economic comeback. TESG funds are the latest…
- Business News
Transport, industrial stocks may gain if Trump wins US election
Transport and industrial estate stocks are poised for gains if Donald Trump secures victory in the US presidential election, according to Asia Plus Securities (ASPS). Conversely, manufacturers of petrochemicals, electrical equipment, steel products, and auto parts may face stiffer competition from Chinese exports. With the US presidential election just weeks away, the race between Democrat Kamala Harris and Republican Trump…
- Business News
Political payout: Listed companies to rake in the baht
Listed companies across a swath of sectors are set to cash in big, thanks to the Pheu Thai-led administration’s progressive new policies, Bualuang Securities (BLS) revealed. The brokerage is urging investors to zoom in on mid-cap stocks, particularly in retail, consumer goods, food, finance, construction, transport, tourism, and healthcare. The launch of Vayupak Fund units has already sent the Stock…
- Business News
SET unveils sustainable growth strategies amid global challenges
The Stock Exchange of Thailand (SET) has unveiled three core strategies to foster sustainable growth within the Thai capital market amid challenging global financial conditions and political uncertainties. This initiative aims to enhance inclusivity within the market. SET chairman Kitipong Urapeepatanapong, addressing the Thailand Focus 2024: Adapting to a Changing World seminar, highlighted the strategic pillars: bolstering reliability and trust,…
- Thailand News
SCB X delays end of Robinhood food delivery service
Siam Commercial Bank (SCB) X PCL has made a significant decision to delay the termination of its Robinhood food delivery service, initially planned for the end of this month. The company yesterday, July 29, submitted a formal request to the Stock Exchange of Thailand (SET) to extend the service’s operation. Manop Sangiambut, Chief Financial Officer of SCB X, revealed the…
- Business News
Political uncertainty may drag SET index lower, say analysts
Political uncertainty is poised to weigh heavily on the Stock Exchange of Thailand (SET) throughout June, with three legal proceedings involving Prime Minister Srettha Thavisin, former premier Thaksin Shinawatra, and the opposition Move Forward Party (MFP) expected to push the index lower than anticipated, analysts report. CGS International (Thailand), a subsidiary of China Galaxy Securities, revised its year-end SET index…
- Business News
Thai dividend stocks outperform bank deposits
The quest for investments with steady returns in an era of global volatility and high interest rates has led many investors to gravitate towards dividend stocks. With the potential for yields exceeding 5% and a payout that can reach up to 20% yearly, these stocks offer a lucrative alternative to conventional bank deposits. A study conducted by the Stock Exchange of…
- Business News
SET extends deadline due to few presidential applicants
The Stock Exchange of Thailand (SET) has delayed the application deadline for its presidential role until May 15, following a lack of applicants. The present president, Pakorn Peetathawatchai, is due to step down in September. The SET chairman role also remains unfilled after Pichai Chunhavajira’s recent resignation. The exchange is seeking candidates who can support its vision of making the…
- Business News
Thai stocks shed by foreign investors amidst delayed US rate cuts
The Stock Exchange of Thailand (SET) reported that foreign investors offloaded Thai stocks to the tune of 68.9 billion baht (US$ 2 billion) in the first quarter, with 41.2 billion sold in March alone. This trend is linked to the delayed US interest rate cuts, weaker financial performance of Thai companies compared to those on other exchanges, and overall economic…
- Business News
Thai stock market hits snooze button despite extended hours
Despite the extension of the Stock Exchange of Thailand‘s (SET) trading hours and looming interest rate cuts by the Bank of Thailand, the Thai market failed to rally yesterday. Concerns over a premature rate cut and the aftermath of a recent terrorist attack near Moscow fuelled investor anxiety. The SET yesterday, March 25, increased its trading period from 270 to…
- Business News
Index Living Mall targets low-income success defies mortgage setbacks
Index Living Mall (ILM), a Stock Exchange of Thailand (SET)-listed company, has observed rapid growth in the low-income segment, despite soaring mortgage rejection rates. This trend led to a strategic shift in the company’s approach, expanding its product range to include non-branded furniture and budget-friendly products imported from China. Kridchanok Patamasatayasonthi, ILM Managing Director, highlighted the exceptional 100% growth within…
- Thailand News
Stocking up: SET chairman tipped for Finance Minister role
The chairman of the Stock of Thailand (SET) is reportedly poised to ascend to the position of Finance Minister, according to insider sources. The anticipated transition is slated to occur at the culmination of the ongoing parliamentary session on April 9, disclosed the informants. This strategic move aims to relieve Prime Minister Srettha Thavisin of his dual role, allowing him to…
- Business News
Thailand intensifies crackdown on illegal short selling
The Chairman of the Stock Exchange of Thailand (SET), Pichai Chunhavajira, announced plans to intensify the country’s crackdown on illegal short selling as shares continue to underperform. Currently, the law permits penalisation of only the securities companies that initiate the short-selling order. However, the market authorities are contemplating amending the law to allow the prosecution of both individuals and companies…
- Business News
SET to tighten supervision of listed Thai firms starting March 25
The Stock Exchange of Thailand (SET) announced plans to strengthen the supervision of its listed companies from March 25 onwards, as part of an initiative to reinforce their financial standing and provide detailed disclosure for investors. SET’s president, Pakorn Peetathawatchai, stated that the move aims to provide investors with clearer and more varied warning signs to alert them of potential…
- Business News
Promising future for Thai SET in healthcare, tourism, food sectors
Despite the slow recovery of the Stock Exchange of Thailand (SET) from last year’s significant slump, executives see a promising future in healthcare, tourism, and food stocks. They believe these sectors can offer attractive opportunities for investors and encourage more companies to enlist on the bourse. Manpong Senanarong, SET Senior Executive Vice-President and head of the Issuer and Listing Division,…
- Business News
SET-listed banks’ net profit surges 15.6% due to rate hikes
Interest income growth due to policy rate hikes has contributed to a 15.6% year-on-year increase in consolidated net profit for ten Stock Exchange of Thailand (SET) -listed commercial banks in 2023, reaching a total of 232 billion baht. The previous year’s profit was around 201 billion baht. In the context of these rising interest rates, the banking sector demonstrated a…
- Business News
SET anticipates Oliver Wyman’s report on Thailand’s securities trading
The Stock Exchange of Thailand (SET) anticipates an imminent report from international consultant Oliver Wyman. The report, expected to be completed in the first week of February, focuses on the suitability of Thailand’s securities trading programs and the prevention of naked short selling. This initiative, led by SET President Pakorn Peetathawatchai, follows investigations into four alleged instances of naked short…
- Business News
Optimism for Thai stock exchange rebound despite US economic downturn
InnovestX Securities, part of the SCB X Group, expressed optimism about the rebound potential of the Stock Exchange of Thailand (SET) index. The company predicts the index could approach 1,700 points this year, driven by stabilising global interest rates and domestic economic stimulation efforts. The first quarter of 2024, however, could be marked by volatility, with possible economic downturns in…
- Business News
SET foresees market recovery with return of foreign investment
The Stock Exchange of Thailand (SET) anticipates a recovery in return on investment this year, mirroring trends in regional markets due to an influx of foreign capital since 2023’s final quarter. Last year, foreign investors sold off Thai stocks amounting to US$5.51 billion, contrasting with 2022’s net purchase of US$5.96 billion. Nevertheless, foreign long-term investors held steady, owning around 30%…
- Business News
CPN predicts 20% retail sales surge due to Chinese New Year and tax scheme
Central Pattana (CPN), a SET-listed firm, is forecasting a 20% surge in retail sales for the first quarter, attributing the anticipated boost to the Chinese New Year festival and the Thai government’s Easy E-Receipt scheme. The company predicts a cash flow of 15 billion baht across all Central shopping mall branches. Nattakit Tangpoonsinthana, the chief marketing officer of CPN, expressed…
- Business News
Thai stock market could sink below 1,300 amid foreign investor exodus
In a worrying development, analysts signalled that the Stock Exchange of Thailand (SET) index, which plummeted to a three-year trough yesterday, could continue its descent to below 1,300 points in the short term as foreign funds persist in their exodus. The Thai stock market appears unaffected by the recent resurgence of other equity markets, despite encouraging indicators emerging since last…
- Business News
Thai executives warn against fiscal burden increase: SET survey
The Stock Exchange of Thailand (SET) has published a survey in which top executives from Thai listed firms have urged the government to avoid amplifying the nation’s fiscal burden and distorting markets. The executives also proposed more involvement from the private sector in policymaking. The survey, titled Economic Outlook 2023 to 2024, was the work of the SET’s research department…
- Business News
Thai stock exchange investigates potential naked short selling offences
A specialised committee has been established by the Stock Exchange of Thailand (SET), designed to delve into the issue of naked short selling. The team will comprise representatives from the Korea Exchange and Nasdaq stock exchange in the US, brought in to aid Thai regulators in their investigation into potential offences. The committee’s work is slated to commence imminently, as…
- Business News
SET forecasted to dip amid US bond yield uncertainty
The Stock Exchange of Thailand (SET) index, which dipped below 1,400 points last Friday, is anticipated to continue its downward trajectory this week, potentially hitting 1,330 to 1,350 points, as per market analysts’ predictions. Factors contributing to this trend include fluctuating US bond yields and uncertainties in global factors. Wikij Tirawannarat, a senior executive at Bualuang Securities, pointed out that…
- Business News
Thailand’s SET considers extending trading hours to boost volume
The Stock Exchange of Thailand (SET) is mulling over an extension of trading hours hoping to rekindle its diminished trading volume and value this year. Despite six years of study, no decision had been previously made on the matter. However, Prime Minister Srettha Thavisin recently directed SET to thoroughly analyse the pros and cons of such a move. A preliminary…
- Business News
Bangchak finalises Esso Thailand acquisition
The energy conglomerate Bangchak Corporation, listed on the Stock Exchange of Thailand (SET), finalised its acquisition of Esso Thailand shares via a tender offer. The deal, valued at 3.54 billion baht, has resulted in Bangchak owning 76.3% of Esso Thailand. Previously, Bangchak secured a 65.99% stake in Esso Thailand, the entity managing Esso petrol stations, from Esso Asia Holdings Pte…
- Business News
Stock slide stalls: Thai stock market slump set to stabilise as analysts predict limited decreases
The Stock Exchange of Thailand (SET) index has been subjected to a downward revision this year, dipping to a three-month low of roughly 1,470 points. This has led market analysts to believe that further decreases are now limited. Kasikorn Securities (KSEC) consequently altered its SET index target to 1,544 points by the close of 2023, a significant drop from the…
- Business News
Currency crunch: Thai SET under strain as rates rise and baht bites
A recent policy rate hike of 0.25% by the Bank of Thailand, coupled with the weakening baht, is placing pressure on the Stock Exchange of Thailand (SET). Analysts have suggested this after observing that the index slipped below the resistance level of 1,500 points. The Thai bourse experienced a downturn at the opening yesterday, following a 0.88% drop to conclude…
