BANGKOK, Thailand – Bangkok Bank executive vice president Kobsak Pootrakool says Thailand’s stock market should prioritise steady, sustainable growth rather than sharp gains followed by steep falls. Kobsak said the Stock Exchange of Thailand’s current level of around 1,560–1,570 points, or up to 1,600 points, was appropriate given the country’s economic conditions and outlook. He said keeping the index around this level through the end of the year would help investors feel more secure.
He would like to see the Thai stock market deliver average annual growth of 10–20%, creating a more stable investment environment rather than the dramatic rise and subsequent decline seen in South Korea’s market.
Kobsak said Thailand’s economy was undergoing a structural transition and had passed its lowest point. Foreign direct investment was continuing to increase, particularly in new-growth industries such as artificial intelligence, data centers, electric vehicles and new energy.
However, he said it could take another two to three years for these investments to produce a clear impact on the wider economy and help restore growth to its potential. Bangkok Bank is also supporting the government’s BOI to IPO initiative, which aims to bring more businesses from the new economy into Thailand’s capital market.
Kobsak said Thailand needed a broader range of listed technology companies. He noted that the market currently had one standout technology stock, Delta Electronics Thailand (DELTA), while the United States had seven major technology leaders.
Through its network in China, Bangkok Bank is working with government agencies to identify leading companies and connect them with the Thai market. One prospect is Chinese electric vehicle manufacturer Changan, which has selected Thailand as a production base for right-hand-drive vehicles for export and established a research center here.
Changan employs more than 2,000 people in Thailand and has expressed interest in listing on the Stock Exchange of Thailand. Around 10 other Chinese companies are also reportedly interested in the BOI to IPO program, with greater clarity expected over the next two to three years.
