The Thai stock market in the last two months of 2026 is showing positive signs to watch, as external pressures gradually ease and domestic fundamental factors begin to recover.
This creates an opportunity for investment activity to revive, amid hopes that foreign capital flows (Fund Flow) will return to support the Thai stock market for the remainder of the year.
At the same time, there are positive factors from domestic investment funds, including tax-advantaged funds expected to add liquidity toward year-end, along with government policy progress that clarifies investment in new industries, especially the Data Center business, which is becoming a major global megatrend.
Dr. Benjarong Suwankiri, Deputy Managing Director and Head of Corporate Strategy and Finance at the Stock Exchange of Thailand (SET), said that regarding foreign capital flows, despite ongoing uncertainty over U.S. policy following the midterm elections, the Thai stock market remains attractive to global funds.
This is reflected at international forums such as the 2026 World Bank-IMF meetings, where foreign investors continue to show interest in the Thai stock market, aligning with strong investment promotion applications through the Board of Investment (BOI) due to Thailand's neutrality amid geopolitical conflicts.
As for the Thai economy, it is expected to remain stable and continue growing, while the previous correction in the Thai stock market has helped reduce the risk of a severe downturn later this year and made valuations more appealing for fund managers to consider portfolio allocations for year-end returns.
. Chatchai Thitsadadol, Assistant Managing Director and Head of Research, Corporate Strategy Division at the Stock Exchange of Thailand (SET), said the overall investment outlook in the stock market for the last two months of 2026 is expected to be positive, as the bond yield, which had pressured emerging markets, is stabilizing.
If the U.S. Federal Reserve (Fed) does not raise interest rates more aggressively than the market expects, this will be a positive factor encouraging foreign capital to flow back in.
Regarding the Fed's monetary policy direction in the December meeting, although October's inflation figures remain relatively high, the market can watch and hope for a decline in oil prices, which is positive news that could ease inflationary pressures.
Meanwhile, domestic support comes from listed companies' earnings, which remain a key driver. Analysts continue to have a positive outlook with profits expected to increase about 25–26% compared to the start of the year.
Although share prices have risen somewhat, if the latest quarterly earnings meet expectations, this will be a fundamental factor supporting and encouraging investment.
Additionally, the Thai economy is supported by the tourism sector, with October figures showing seasonal recovery signals. If this trend continues, the remainder of the year is likely to improve.
Chatchai added that the Thai stock market could also benefit from inflows from tax-advantaged funds in the final stretch of the year. Historically, such funds inject on average about 2,000–3,000 million baht annually.
Since there was limited inflow in the first half and third quarter, it is expected that the capital will gradually flow in during year-end, following the usual pattern, especially as this year's tax incentives are more attractive than in previous years.
Dr. Benjarong said that domestic investment inflows in the final trading days—about 30 days remaining—will be strongly supported by tax-advantaged funds, reflecting strong demand during the year-end season, particularly the Thai ESG funds, which this year offer tax benefits up to approximately 800,000 baht. Furthermore, the recent market correction has brought share prices into a highly attractive valuation zone, alongside relatively high dividend yields in the Thai stock market.
This presents an opportune moment for Thai investors and savers to gradually accumulate and invest in the Thai stock market.
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