Thai stock exchange rises 1.5% but investors remain cautious

The Stock Exchange of Thailand (SET) experienced a 1.5% rise on October 11, attracting foreign investors who bought almost 3 billion baht (US$82,648,050) in stocks. Despite this, seasoned investor 50 year old Watchara Kaewsawang, exhibited caution about re-entering the market, citing the recent increase as a short-lived technical rebound following a series of downturns.

Watchara acknowledged that his trading activity had been reduced this year, mirroring the experiences of many investors who have seen their portfolios dwindle by 8% as a result of the SET’s poor performance.

Between January and September of 2023, the SET index plummeted by 11.8% year-on-year, while September witnessed a 6% decline. Foreign investors have been net sellers for eight consecutive months, with an outflow of 22.4 billion baht recorded in September.

Watchara attributed…