IMO, your approach is valid if the road is clear behind you. If not, you are the most dangerous user on that road, as unfair and excessive as that may sound, as your stopping could cause an accident.
99% of Thais arriving behind you will not stop, or do an emergency brake at the last split second.
I think the least dangerous approach is to slow down, ready to stop if needed, but without giving way. The pedestrians then stay put and wait for the road to be clear to cross, which is the safest way to do it in a ruleless environment.