Thairath Online
Thairath Online

Thairath Website

Follow Us

PM 2.5 Dust Returns! List of Beneficiary Stocks Despite Thai Markets 3-Year Slump, Hopes for TISA to Stimulate

Capital market02 Dec 2025 12:38 GMT+7

Share

PM 2.5 Dust Returns! List of Beneficiary Stocks Despite Thai Markets 3-Year Slump, Hopes for TISA to Stimulate

Toxic PM 2.5 dust has returned once again, causing economic damage and posing health risks to the public. However, this crisis also presents investment opportunities. Asia Plus Securities pointed out that rising demand for dust protection products and medical treatments will clearly benefit hospital groups and retailers selling dust prevention equipment.

Nonetheless, the overall Thai stock market remains sluggish with poor returns, mainly due to a lack of liquidity. Therefore, hopes for recovery rest on capital market reform measures, particularly the TISA project—Thailand Individual Saving Account—which is soon to be considered by the Cabinet.


PM 2.5 Dust Surges! Which Stock Groups Benefit?

Research team at Asia Plus Securities Company Limited reported that the PM 2.5 situation has continuously worsened since late November 2025, especially on 30 Nov 2025, when air pollution levels reached "unhealthy" (orange/red) across the country.

In Bangkok's Pathumwan district, the Air Quality Index (US AQI) soared to 159, classified as "Unhealthy for Sensitive Groups," meaning it is unhealthy for people sensitive to pollution.

Due to these conditions, demand for health care and dust protection products and services has surged. Asia Plus Securities forecasts the companies benefiting positively include:

  • 1. Hospital sector: BDMS, BH, BCH, which may gain from increased patient numbers.
  • 2. Retailers selling dust protection equipment: HL, IP, MEGA, HMPRO, CRC, providers of masks, air purifiers, and health care products.


Thai Stocks Still Sluggish… Awaiting "TISA" to Support

Meanwhile, the Thai stock market faces multiple headwinds, especially domestic factors, leading to poor returns over the past three years (end of 2022 to present), underperforming all assets except oil.

It is the only stock market to decline, with the SET Index dropping -22.2% and the mai Index plunging -63.2%, contrary to other global stock markets that have risen.

Asia Plus Securities noted that liquidity in the Thai stock market has dried up, causing limited stock movement. They see a need for additional stimulus measures like the TISA program, which allows tax-deductible stock savings, to be discussed by the Cabinet next week.

Innovest X Securities views the stock savings account scheme as a boost for the Thai market, with the economic Cabinet approving three capital market reform measures to increase liquidity, mainly:

  • A stock savings account offering enhanced tax benefits and the opportunity to invest in foreign stocks.
  • Measures similar to LTF (Long-Term Equity Fund) to address the problem of stock sales upon maturity.
  • Allowing listed companies to buy back shares to reduce sell-offs from LTF holders.


However, both the PM 2.5 dust situation affecting certain business groups and government efforts to push liquidity-boosting measures like TISA require close monitoring to see if they can truly revive investment sentiment in the Thai stock market.

Read stock and investment news with Thairath Money at

Follow the Facebook page: Thairath Money at this link