Bangkok:Assadej Kongsiri, Director and President of the Stock Exchange of Thailand (SET), has stated that the recent removal of certain Thai stocks from the MSCI index will not impact the market's fundamentals. He emphasized that foreign investors continue to hold 6.9 trillion baht worth of shares.
According to Thai News Agency, Assadej clarified that the changes in the MSCI index are part of a broader index-tracking investment strategy and do not reflect any underlying weaknesses in the Thai stock market. He highlighted the market's strong fundamentals and the ongoing efforts to attract data center and AI technology businesses to raise capital in Thailand.
The SET is focusing on supporting new target industries, especially following the Cabinet's approval of regulations concerning Data Centers and AI, which is expected to enhance investor confidence. Assadej noted that the Thai stock market's growth this year is driven by solid company fundamentals and long-term institutional investments.
Assadej also addressed the recent volatility in the market, attributing it to global trends rather than local issues. The SET is working closely with technology and supply chain companies to facilitate their fundraising activities, in collaboration with the government and the BOI board.
Additionally, the SET is prioritizing cybersecurity to protect its critical infrastructure, with continuous 24/7 monitoring and a solid risk management system in place. The organization is also collaborating with the Bank of Thailand (BOT) and the Securities and Exchange Commission (SEC) to ensure business continuity.
Assadej assured that changes to the Transaction Reporting System (TRS/TP) will not affect foreign capital flows, as these changes pertain only to liquidity providers managing daily trades. He reiterated the confidence in the Thai stock market, with foreign investors holding significant shares across various sectors, underscoring diversified investment strategies.