Executive publishes warning for the SET

Thailand’s stock market is edging dangerously close to a critical point, underscoring the urgent need to restore investor confidence and market liquidity, notes the chief of the Investment Analysts Association (IAA), calling for swift and decisive support from the government.

- NUNTAWUN POLKUAMDEE

Paiboon Nalinthrangkum, IAA chairman and a board member of the Stock Exchange of Thailand (SET), said the Thai bourse risks losing its ability to function as an effective engine for capital formation and wealth creation.

In a post on his Facebook page, Mr Paiboon said Thailand’s equity market may no longer be able to serve its traditional role in mobilising capital and supporting long-term wealth creation.

“Tf the problems are not addressed seriously and promptly, the consequences could extend beyond the capital market and threaten the long-term sustainability of Thailand’s economic system,’ he said.

The SET ranked among the world’s worst performers in 2025, when only six stock markets globally posted negative returns. The Thai index fell by 10% last year, contrasting starkly with a 21% gain in global equity markets.

Last year marked the third consecutive year of losses for Thai equities, with a cumulative decline of 24% over three years, equivalent to a market capitalisation loss of around 4.25 trillion baht.