File photo courtesy of Bangkok Post

 

Foreign investors continue to offload Thai equities despite two months of stock market gains, resulting in a net selling position exceeding 100 billion baht for the first 10 months of 2025. The Stock Exchange of Thailand (SET) cites persistent global and domestic challenges as reasons for the sell-off. Key factors include the prolonged trade war, geopolitical tensions, and concerns over interest rate decisions made by the US Federal Reserve.

 

The selling pressure added a 4.5 billion baht net outflow in October, bringing the total to 101 billion baht for the year so far, according to Soraphol Tulayasathien, a senior executive at the SET. Foreign investors accounted for 51.8% of trading value, showing a significant loss of confidence. Despite the decrease in trading value, the Thai index gained 2.8% from the previous month, closing at 1,309.5 points by the end of October.

 

Analysts point to ongoing uncertainties in global markets due to shifting trade policies, volatile technology stock valuations, and high public debt levels. Domestically, stimulus measures have boosted market sentiment, alongside strong export and tourism performances. Seasonal trading patterns could potentially increase market inflow towards the end of the year, according to the Bangkok Post.

 

October saw three new company listings on the SET with two on the Market for Alternative Investment (MAI). A total of 15 companies have gone public this year, though several have seen share prices fall below their IPO levels, highlighting cautious investor sentiment. SET President Asadej Kongsiri emphasised the importance of enhanced information disclosures to assist with IPO assessments.

 

The SET's forward P/E ratio rested at 12.2 times in October, under the Asian average of 14.6, with a higher-than-average dividend yield reflecting strong fundamentals. However, market volatility and economic conditions have delayed several IPOs, with lingering efforts required to boost liquidity in the Thai stock market.

 

Key Takeaways:

 

Foreign investors sold over 100 billion baht in Thai stocks this year.
Despite global challenges, the Thai index gained 2.8% in October.
Market sentiment supported by local stimulus and growth in exports and tourism.
 

  Adapted by ASEAN Now from Bangkok Post 2025-11-06

 

 

But the economic results in Thailand are decreasing year after year, because of the manipulated too expensive THB, the political instability, the outdated laws and the big taxes ... There are better places for business and with the conservative Government that is not willing to invest and change things, it will get worse.. Of course they blame all other factors, but most of the time Thailand is staying too far behind

Anutin is the most corrupt Politician in Thai history. Who in their right mind would want to invest in Thailand at this time. 

I was told that the reason the baht was so strong was that foreign money was flowing into Thai stocks, that gold was up, and the dollar was weak. Looking around, I see the dollar index has strengthened, gold is down off its highs, and now foreign money is leaving Thai stocks. So why is the baht still up so strongly?

Time to buy?

On 11/6/2025 at 1:18 PM, John Drake said:

I was told that the reason the baht was so strong was that foreign money was flowing into Thai stocks, that gold was up, and the dollar was weak. Looking around, I see the dollar index has strengthened, gold is down off its highs, and now foreign money is leaving Thai stocks. So why is the baht still up so strongly?

Yes this time the 10 % drop in gold was not reflected in the THB rate.

 

Maybe the offloading of Thai stocks does not mean investers got out of the THB .

On 11/6/2025 at 12:19 PM, ikke1959 said:

But the economic results in Thailand are decreasing year after year, because of the manipulated too expensive THB, the political instability, the outdated laws and the big taxes ... There are better places for business and with the conservative Government that is not willing to invest and change things, it will get worse.. Of course they blame all other factors, but most of the time Thailand is staying too far behind

Better places to invest...