Decline in foreign investment reflected in sell off of Thai stocks
Foreign investors sold 1.9 billion baht of Thai stocks in 2023, representing a net outflow of some 192.08 billion baht, 15.15% more than in 2022, according to report on Thansettakij’s website.
The top 10 most traded stocks in Thailand in 2023 were:
Most sold:
AOT (Airports of Thailand)
KBANK (Krungthai Bank)
LH (Land and Houses)
CPF (Charoen Pokphand Foods)
SCB (Siam Commercial Bank)
BDMS (Bangkok Dusit Medical Services)
PTT (PTT Plc)
HMPRO (HomePro)
TU (Thai Union Group)
Most bought
CPALL (CP All Plc)
TTB (Tisco Financial Group Plc)
BBL (Bangkok Bank Plc)
GULF (Global Power Synergy Plc)
TRUE (True Corporation Plc)
BEC (BEC World Plc)
CPN (Central Pattana Plc)
CHG (CHG Healthcare Plc)
STEC (Siam Cement Engineering Plc)
Stock analysts believe the decline in foreign investment in Thailand was likely due to a number of factors, including rising interest rates in the United States, the ongoing war in Ukraine, and concerns about the global economy.
The sell-off of Thai stocks by foreign investors had a negative impact on the Thai stock market. The SET index, which tracks the performance of the top 50 companies listed on the Stock Exchange of Thailand, closed the year (as of December 28) at 1,415.85 points, down 252.81 points, or 15.15%, from 2022.
