China · Nation Thailand
Capital Illusion: Why the Stock Exchange of Thailand is Falling Behind its Regional Peers
Compiled by KHAO Editorial — aggregated from 1 outlet. See llms.txt for citation guidance.
◌ Single Source
While SET President Asadej Kongsiri celebrates short-term foreign inflows, deep structural rot and speculative volatility threaten Thailand’s OECD ambitions.
Key facts
- Speaking at the Nikkei Asia Forum APAC 2026 in Bangkok this week, Asadej Kongsiri, president of the Stock Exchange of Thailand (SET) since late 2024, struck a decidedly triumphalist tone
- In the wake of the 1997 Asian Financial Crisis, Thailand undertook massive institutional adjustments, seemingly positioning the SET to become mainland Southeast Asia’s premier financial hub
- Over the past few years, the SET and the Securities and Exchange Commission (SEC) have introduced a myriad of advanced financial tools and products, most notably an expansive Depository Receipt (DR) program boasting over 400 systems to
- Asadej may take comfort in this year's 30 per cent index bump and the fleeting return of foreign fund flows
Summary
Speaking at the Nikkei Asia Forum APAC 2026 in Bangkok this week, Asadej Kongsiri, president of the Stock Exchange of Thailand (SET) since late 2024, struck a decidedly triumphalist tone. He eagerly pointed to a 30 per cent surge in the benchmark index this year, heavily backstopped by a net foreign fund inflow approaching $2 billion USD.
To Asadej, the catalyst was clear: a sudden wave of political optimism following the February election, which signalled a stable, pro-business coalition. "Action speaks louder than words," Asadej declared, arguing that global investors are finally witnessing the activation of long-delayed state economic policies.