Capital Markets

The Stock Exchange of Thailand has outperformed its regional peers in liquidity and initial public offering growth in recent years, rising to become the best-performing stock market in the Asia-Pacific region in 2016. The bond market has also been a standout performer, despite concerns over rising numbers of short-term bond defaults, with the segment witnessing an influx of foreign capital during the first months of 2017, following a year marked by significant geopolitical volatility and rising capital outflows. Listed companies remain profitable and derivatives market growth has also been positive, bolstered by rising trade in stock and gold futures. While foreign investment in the securities market is forecast to remain flat in 2017, investment in the bond market should continue to rise, with Thailand increasingly viewed as a safe haven from currency volatility. This chapter contains interviews with Kesara Manchusree, President, The Stock Exchange of Thailand; Rapee Sucharitakul, Secretary-General, Securities and Exchange Commission; and Pote Harinasuta, CEO, One Asset Management; and a viewpoint from Chaipatr Srivisarvacha, CEO, KT ZMICO Securities Company.