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Stock Exchange of Thailand opens up above 1,200 pts, highest in almost 16 years

The Stock Exchange of Thailand (SET) reveals Thailand’s main index, the SET Index, today opened up at 1208, the highest level in 15 years and eight months since July 11, 1996, supported by the strong fundamentals of the Thai market.

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SET quotes Thailand

The Stock Exchange of Thailand (SET) reveals Thailand’s main index, the SET Index, today opened up at 1208, the highest level in 15 years and eight months since July 11, 1996, supported by the strong fundamentals of the Thai market.

The index increase indicated the continuing strong recovery of Thai listed companies although they faced many negative factors lately. Listed firms have shown promising performances, with an annual average 16 percent profit growth since 2009 and an annual 17 percent growth of dividend payment since 2008, resulting in Thai market’s dividend yield of 3.73 percent at the end of February, making it Asia’s second-highest dividend yield.

In addition, the FTSE Group upgrade of the Thai capital market to Advanced Emerging Market effective in March, clear signs of an US economic recovery, and easing concerns of the Europe debt crisis were also key factors to build confidence of both domestic and foreign investors, boosting foreign net buying to THB 73.64 billion (approx. USD 2.4 billion) so far this year. Investors should continue to closely monitor the situation and evaluate analyses from various parties for trends and factors to consider.

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Markets

Thai Mango growers complain of low prices and fewer exports

Because of the global COVID-19 pandemic, their mangoes are not being exported, due to fewer buyers, and their prices have plunged to between 10 and 20 baht per kilogram, depending on size.

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Mango orchard owners in Thailand’s northern province of Phitsanuloke are seeking help from the provincial administration to promote the sale of their sweet fruit, particularly Barracuda Mango variety.

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Investment

Foreigners’ Participation in Thai Listed Companies explained

Special vehicles have been created to facilitate foreign investors so that they are able to invest in Thai
securities flexibly and conveniently.

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Similar to foreign business laws existing in most Asian countries, Thai laws have imposed restrictions on foreign ownership of Thai companies.

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