SET Index Grows 12% in September Due to Positive Developments
In September, Thailand's SET index grew by 12%, driven by the positive formation of a new government, the launch of Vayupak Fund 1, and a favorable interest rate cut by the U.S. Federal Reserve. This recovery attracted foreign investors, while domestic initiatives like a 10,000-baht handout further boosted market sentiment. Prominent stock picks benefiting from these conditions include Carabao Group, Ch. Karnchang, Central Retail Corp, and Praram 9 Hospital.
September marked a strong month for Thailand's SET index, which gained 12% due to positive economic and political developments.
The index rose steadily after a new prime minister was selected, peaking at 1,471.69 points.
This rise was bolstered by the quick formation of a new government led by the Pheu Thai Party, the introduction of the Vayupak Fund 1 aiming to raise 150 billion baht, and a U.S. Federal Reserve interest rate cut of 50 basis points.
Foreign investors became net buyers with over 27 billion baht in September, despite being net sellers earlier in the year.
Local institutions, led by the Vayupak Fund, also recorded net buying.
The government's 10,000-baht handout and high tourism season further lifted sentiment.
Key stock picks include Carabao Group, Ch.
Karnchang, Central Retail Corp, and Praram 9 Hospital.
Each is expected to benefit from improved market conditions and specific strategic strengths.