stock market
- Business News
Tenzing Pacific Services predicts market’s ‘positive momentum’ to continue
Tenzing Pacific Services is anticipating positive stock market momentum to carry through to the end of 2024 despite volatility and share performance dispersion. Tenzing Pacific Services, a health, life, and business insurance and investment company, saw June as a mixed bag when it came to growth. This is in large part due to the market’s performance not necessarily correlating with…
- Business News
Foreign funds return to Thai stocks amid Fed rate cuts
Foreign fund inflows show signs of returning to the Thai stock market in the second half of 2024, driven by the anticipated US Federal Reserve interest rate cut, a rebounding Thai economy, and the financial results of listed companies. Soraphol Tulayasathien, Senior Executive Vice-President, highlighted that developing countries are experiencing increased production capacity for exports, signalling a global economic recovery.…
- Business News
US equity funds attract record inflows amid Thai market decline
US equity funds have seen the largest inflows this year, spurred by the US economic recovery and expectations of interest rate cuts, while mutual fund investments in Thai stocks have dropped by nearly 10 billion baht, according to Morningstar Research (Thailand). Nearly 7.8 billion baht has been invested in US equity funds this year, marking a 5.04% increase from 2023,…
- Thailand News
Political turmoil sends Thai stock market plummeting
Prime Minister Srettha Thavisin acknowledged that Thailand’s current political turmoil is likely behind the recent stock market plunge, which hit a four-year low on Monday. Analysts have pointed to three high-profile court cases shaking the nation’s political landscape as the primary cause of investor anxiety. “It is about stock market sentiment.” PM Srettha highlighted that he, among others involved in…
- Business News
SET unveils plan to boost foreign and family business investments
The Stock Exchange of Thailand (SET) unveiled a strategic business plan targeting foreign industries operating in Thailand and family businesses, aiming to boost market capitalisation. SET executives highlighted the shift in investment trends, particularly post-pandemic, with technology stocks rising as traditional businesses adapt to the digital age. SET officials noted that the Thai market has faced trust and confidence issues…
- 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 stock market poised for upward surge after rocky start
After a downward trend in the first half of the year, Thailand’s stock market is predicted to come back in the second half, with a 2.7% decline year-to-date making it one of the worst global performers. This potential recovery is anticipated to be driven by a combination of growing fiscal budget disbursement, a weaker baht, and a revival in tourism and…
- Business News
Thai stock market set for a drop due to US inflation
Kasikorn Asset Management (K-Asset) anticipates a downward trend in the Thai stock market over the forthcoming quarter, prompted by a slow decrease in US inflation and interest rates. The asset management firm advises investors to mitigate risk through portfolio diversification, targeting the US and Indian stock markets. K-Asset CEO Wajana Wongsupasawat forecasts an additional drop in the Thai market in…
- Business News
Thai stock market rebounds amid renewed investor confidence
The Thai stock market made a strong comeback yesterday, experiencing a rise of approximately 1.3%. This resurgence was mirrored in other regional markets which also bounced back from significant losses incurred on Friday. Investors are seemingly reassured by the belief that a full-scale war in the Middle East is unlikely. This sentiment was further bolstered by the decision of the…
- Business News
Bitcoin rebounds amid Middle East military escalation uncertainty
Bitcoin, the largest cryptocurrency, recently bounced back from its steepest drop in over a year, marking the beginning of potential volatility across asset markets as investors grapple with the looming prospect of a military escalation in the Middle East. Bitcoin yesterday rose by a maximum of 5.9% and was traded at around US$64,600 as of 11.40am in London. Smaller cryptocurrencies…
- Business News
Thai stocks shed by foreign investors amidst delayed US rate cuts
The Stock Exchange of Thailand (SET) reported that foreign investors offloaded Thai stocks to the tune of 68.9 billion baht (US$ 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
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…
- Thailand News
Beauty pageant stock’s overvaluation concerns
The once-dazzling rally of Miss Grand International Plc (MGI), a beauty pageant organiser, appears to be losing its shimmer as concerns loom large over its increasingly stretched valuation. Since its inception in mid-December at 4.95 baht apiece, the stock catapulted by over 900%, ranking as the second-best performer among new listings in the Asia Pacific region over the past three…
- Business News
Thai stock exchange to tighten short sales and program trading rules
The Stock Exchange of Thailand (SET) is set to introduce stricter regulations on short sales and program trading, aiming to mitigate securities price volatility and bolster the long-term resilience of the market. This decision follows a comprehensive study conducted by an external advisor, which found the SET’s market surveillance system to be on par with regional standards, as per a…
- 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 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
SEC enhances high-yield bond oversight amid Thai market instabilities
The Securities and Exchange Commission (SEC) is enhancing oversight measures for high-yield bonds to fortify payment protections and investor assurance, according to remarks made by SEC Secretary-General Pornanong Budsaratragoon. This move comes in response to recent market instabilities caused by numerous defaults and a significant accounting scandal in the speculative debt sector. As part of this heightened vigilance, the SEC…
- Business News
Thai retail investors now unrestricted in real estate, infrastructure-backed ICOs
Retail investors in Thailand will no longer face restrictions on investment in real estate and infrastructure-backed initial coin offerings (ICOs), according to an announcement by the Securities and Exchange Commission (SEC). The change, effective from January 16, was made to encourage technology use for fundraising and to support sustainable capital market growth and the digital economy’s development. The SEC’s role,…
- Business News
SEC allows securities firms to offer spot Bitcoin ETFs to elite investors
The Securities and Exchange Commission (SEC) is in the process of permitting securities firms to offer spot Bitcoin Exchange-Traded Funds (ETFs) trading to institutional and high net worth (HNW) investors. The information became public when InnovestX Securities, a unit of SCB X Group, announced on its website that it had recently discussed the matter with the SEC and obtained approval…
- Business News
Krungsri Capital advises investment in 11 high-dividend Thai stocks
Investors have been advised by Krungsri Capital Securities (KCS) to consider purchasing shares from 11 high-dividend (HD) stocks, which are projected to yield over 2% annually. This move is expected to result in increased capital gains from their investments in the initial two months of each year. These HD stocks have historically outperformed the broader Stock Exchange of Thailand (SET)…
- 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
Sarath Ratanavadi remains wealthiest shareholder in Thai market for fifth year
For the fifth year running, Gulf Energy Development Plc‘s Chief Executive, Sarath Ratanavadi, tops the list as the wealthiest shareholder in the Thai capital market. Despite a 12.9% dip from the previous year, his shares were valued at a whopping 190 billion baht, according to a recent survey. The annual assessment, a joint effort between Money & Banking magazine and…
- Business News
Electronics firms poised for a shocking surge in the new year
Electronics companies listed on the stock market are set to witness a performance upturn in the new year, owing to a forecasted global recovery across all industry sub-sectors, according to KGI Securities. The firm predicts a higher growth rate in the second half of the year on the back of continuing inventory restocking. The outlook is based on the steady…
- Business News
Thai stock market hit by short selling amid falling figures
Speculation on short selling and naked short sales has been linked with causing havoc in the Thai stock market today, as retail investors attribute the continuous market decline to these practices. The Stock Exchange of Thailand (SET) has taken a hit this year with a drop of 14.9% as of November 20 and a decrease in market capitalisation from 3.2…
- Business News
New ESG fund could boost Thai stocks by up to 70 billion baht
Analysts predict that a forthcoming environmental, social and governance (ESG) fund could draw investments of between 20 and 70 billion baht into 114 stocks listed on the Stock Exchange of Thailand’s (SET) ESG index this year. The long-term savings fund, which is set to be established later this year, will be focused on investing in domestic ESG stocks and bonds.…
- Business News
Potential slump for Thai stock market due to digital wallet scheme delay
The Thai stock market is facing a potential slump this month, following a 6.1% drop in October and a 17.2% decline year-to-date, due to potential delays to a significant digital wallet scheme and a slower-than-anticipated recovery in the tourism sector. Such concerns are sparking significant investor anxiety, according to industry analysts. Sompong Benjathepanan, the assistant managing director at AIRA Securities,…
- 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
Thai stock exchange rises 1.5% but investors remain cautious
The Stock Exchange of Thailand (SET) experienced a 1.5% rise on October 11, attracting foreign investors who bought almost 3 billion baht (US$82,648,050) in stocks. Despite this, seasoned investor 50 year old Watchara Kaewsawang, exhibited caution about re-entering the market, citing the recent increase as a short-lived technical rebound following a series of downturns. Watchara acknowledged that his trading activity…
- Business News
Middle East crisis and US inflation trigger 2% fall in Thai stocks
Escalating the Middle East conflicts and persisting high inflation in the US are contributing to a more than 2% fall in Thai stocks. The Stock Exchange of Thailand (SET) is encountering renewed selling pressure, with the index nearing a crucial resistance level of 1,400 points. Concurrently, gold prices have seen a sharp increase, reaching nearly US$1,950 (70,870 baht) per ounce…
