Summary of Key Statistics of the Thai Stock Market in July 2025
• The FOMC voted unanimously 9 to 2 to maintain the policy interest rate at 4.25%-4.50% for the fifth consecutive time. The Fed Chairman’s statement also reflected high uncertainty regarding tariff policy, which could impact both inflation and the US labor market. As a result, monetary policy will be cautious. However, on July 31, 2025, US time, the White House issued an Executive Order regarding the reciprocal tariff adjustment, effective seven days from 12:01 AM. This new tariff rate for Thailand comes amid pressure from both trade negotiations and the need to initiate negotiations to end trade tensions. Fighting at the Thai-Cambodian border before reaching a ceasefire agreement on July 28, 2025.
• The Fiscal Policy Office (FPO) expects Thailand’s GDP to expand by 2.2% in 2025, up from the previous estimate of 2.1%. The economy will continue to be supported by private consumption, government investment, and an expected 34.5 million foreign tourist arrivals. Meanwhile, merchandise exports are expected to expand by 5.5%, up from the previous estimate of 2.3%, reflecting the impact of accelerated exports in the first half of the year to manage risks from the trade war.
• In July 2025, the weakening of the dollar index was a key driver of investment flows back into emerging markets (EM), particularly Asia, which has begun to receive new portfolio allocations from foreign funds. In the Thai stock market, valuations are attractive, and a strengthening baht tends to drive the SET Index higher.
Foreign investors returned to net buying for 14 days, up from 21 trading days in July 2025. Furthermore, the trade agreement reached between Indonesia and Vietnam with the United States in mid-July 2025 set an important regional precedent, with the two countries negotiating new tariffs of 19% and 20%, respectively. Analysts therefore assess that the Thai government is likely to reach a trade agreement with the United States under similar terms, which will positively impact industries with a high proportion of foreign revenue.
As of July 31, 2025, the SET Index closed at 1,242.35 points, a 14.0% increase from the previous month. This was significantly lower than most regional stock exchanges. As a result, from the beginning of the year to July 31, 2025, the SET Index decreased by 11.3%. Industry groups that outperformed the SET Index compared to the end of 2024 were the Technology, Financial, Resources, and Industrials sectors.
• The combined average daily trading value of the SET and mai was 42.624 billion baht, a 12.1% increase from July 2024. However, for the first seven months of 2025, the average daily trading value was 41.971 billion baht, a 5.0% decrease from the same period of the previous year. Foreign investors still accounted for the highest trading value at 50.68% of the total trading value in July, with a net purchase of 16.121 billion baht, marking the first month of net buying since the SET Index closed. Since September 2024
Source : Presentation Summary of the Stock Exchange of Thailand in July 2025
