SET highlights 3-point plan aimed at boosting stock market

The Stock Exchange of Thailand (SET) on Wednesday announced a 3-point strategy to restore investors’ confidence in the Thai stock market with a focus on boosting credibility, increasing market capability and promoting sustainability.

The announcement was made during the annual event “Thailand Focus 2024: Adapting to a Changing World” held in Bangkok on Wednesday, which saw the participation of executives from more than 100 leading companies and 178 institutional investors.

Speaking at the forum titled “Revitalising Capital Markets: Boosting Efficiency and Restoring Confidence”, SET chairman Kitipong Urapeepatanapong said the Thai capital market has repeatedly proved its capability and flexibility to survive crises, including global financial problems, political instability and the Covid-19 pandemic.

He expressed confidence that the Thai stock market will keep improving in the next 2-3 years and attract more investors thanks to fewer domestic uncertainties.

Moving forward, SET would focus on a three-point strategy as follows:

1. Boosting credibility and investors’ confidence through cooperation and information sharing with related agencies to ensure efficient regulations of the stock markets. SET will also focus on using AI technology to detect unusual market activity, thus boosting transparency in operations.

2. Increasing the capability of the Thai capital market to further attract both domestic and foreign investors. SET will continue encouraging companies in future industries to enter both the SET and MAI (Market for Alternative Investment). These industries include digital technology, e-commerce, modern medicine and agriculture, and food technology.

SET will also continue to improve its technology infrastructure to cope with high- volume trade. In this context, it has recently partnered with Nasdaq to develop a trading system that can accommodate capital products from around the world seamlessly and under international standards.

3. Promoting sustainable practices among listed companies through the provision of Thai ESG funds, which offer tax benefits for companies demonstrating a high level of environmental, social, and governance efforts.

Through this strategy, SET intends to increase the number of listed companies that report their greenhouse gas emissions, which currently stands at 445 or 50% of all the listed companies. A 6.1% reduction in greenhouse gas emissions has so far been reported.