Thai stock market hit a 10-year low

The Thai stock market has hit a 10-year low, prompting investment advisors to advise caution when adjusting portfolios.

Key Takeaways

• The Thai stock market has experienced a significant decline, reaching its lowest point in 10 years, partly due to concerns over international situations and bond yields.
• The increase in US bond yields, coupled with the Thai government’s digital wallet policy, has led to an oversupply of bonds and impacted the Thai stock market.
• Investors should remain cautious in the coming year, as the potential economic decline in the US and Europe may lead to an economic recession, while the return and recovery of China’s economy pose additional risks.

The market dropped below 1,400 points, close to the level recorded in 2013. The price-to-earnings ratio is considered moderate and tradable. The decline is attributed to concerns over the international situation and bond yields.

The Thai government’s digital wallet policy and increased borrowing have led to an oversupply of bonds and impacted the stock market. The market dropped by 11.8% in September and 16.8% by October. Investors are advised to be cautious due to the potential economic decline in the US and Europe. The Thai stock market is likely to remain concerned about the economic downturn.

The Thai stock market has been under pressure lately as the global outlook remains uncertain and the earnings season is mixed.

The Thai stock market is expected to remain volatile in the near term as investors await more cues from the domestic and international fronts. The key factors to watch include the political situation in Thailand, the monetary policy decisions by the Bank of Thailand and the US Federal Reserve.

As of 14:34 PST on November 1, 2023, the Thai stock market is open and the SET Index is currently at 1,388.23, up 17.01 points (+0.31%).

Here is a summary of the performance of the major Thai stock market indices today:

Index	Last	Change
SET	1,388.23	+17.01 (+0.31%)
SET50	859.26	+12.37 (+1.46%)
SET100	1,904.44	+27.13 (+1.43%)
sSET	837.96	+7.75 (+0.93%)

The top performing sectors in the Thai stock market today are the financials (+1.23%), industrials (+1.08%), and properties (+0.97%). The worst performing sectors are the utilities (-0.25%) and telecommunications (-0.17%).

Some of the top performing stocks in the Thai stock market today include:

• PTTEP (PTTEP.TH): +2.35%
• SETTHSI (SETTHSI.TH): +1.00%
• SETWB (SETWB.TH): +0.29%
• Krungthai Bank (KBANK.TH): +1.35%
• PTT Global Chemical (PTTGC.TH): +1.10%

Overall, the Thai stock market is having a positive day today, with the SET Index up over 0.3%. The financials, industrials, and properties sectors are leading the gains, while the utilities and telecommunications sectors are underperforming.