Thailand's stock market is regaining momentum as foreign investors return, supported by stronger capital inflows, improving economic fundamentals and new investment themes, according to the Stock Exchange of Thailand (SET).
SET president Asadej Kongsiri said positive signals have emerged as global brokerages recommend higher exposure to Thai equities, while some emerging market funds have increased their allocation to Thai stocks from around 1% to 5%.
Foreign investor confidence in Thai equities remains stable, with international investors accounting for around 50% of total market trading value, similar to last year, he said.
Foreign investors recorded net purchases of 48.9 billion baht in July, marking the third consecutive month of net buying, noted the bourse. Total foreign net inflows for the first seven months tallied 75.9 billion baht, highlighting Thailand's stronger performance compared with several regional markets.
Trading activity also ramped up, with average daily turnover on the SET and the Market for Alternative Investment reaching 87.4 billion baht in July, up 105% year-on-year and the highest level since March 2022.
Average daily trading value during the first seven months of 2026 was 69.2 billion baht, rising 64.8% year-on-year.
RISKS REMAIN
Mr Asadej said Thailand's ability to attract long-term investment will depend on delivering its growth story through real investment, economic expansion and stronger competitiveness.
Supporting factors include the Finance Ministry's upgrade of its 2026 GDP growth forecast from 1.6% to 2.5%, continued double-digit export growth and strong investment momentum, with Board of Investment (BoI) applications reaching 1.5 trillion baht in the first half of 2026.
Chatchai Thisadoldilok, executive vice-president and head of research at the SET, said the Thai market remained resilient despite global volatility, including corrections in technology stocks, supported by its diversified sector structure and improving corporate fundamentals.
However, external risks remain, particularly geopolitical tensions that could push oil prices above US$100 per barrel, increasing inflationary pressure and prompting investors to seek safe-haven assets. The market is also monitoring risks from a potential artificial intelligence investment bubble, as global technology stocks face corrections after valuations reflected high growth expectations.
Domestically, investors are watching whether projects endorsed by the BoI will translate into actual investment, as any gap between investment applications and real capital spending could weaken confidence in Thailand's economic recovery, noted Mr Chatchai.
BUILDING CONFIDENCE
Despite those challenges, the SET remains confident that Thailand Focus 2026, its flagship annual international investment conference, will reinforce Thailand's position as an attractive long-term investment destination.
The conference is scheduled for Aug 26-28 and features 78 listed companies with a combined market capitalisation of around 15 trillion baht, representing 74% of the total market value of the Thai bourse.
The event aims to showcase Thailand's "growth story" and highlight companies with long-term growth potential under the SET's Jump Plus programme, providing global investors with greater visibility into future investment opportunities.
The conference is focused on emerging industries, including technology-based businesses, companies benefiting from foreign direct investment and businesses linked to the expansion of data centres.
The SET expects strong investor interest in the data centre supply chain, particularly clean energy, electricity infrastructure and water resources. Healthcare companies aligned with government-supported strategic industries are another highlight.
The event also features mid-sized and newer listed companies across various sectors, including finance and property, reflecting broader opportunities beyond large-cap stocks.
