BANGKOK, Thailand – The SET Index is projected to close at 1,494 points by the end of 2024. This is mainly driven by foreign fund inflows and the Thai government’s 10,000-baht cash handout scheme. The positive outlook is supported by improving domestic conditions and stabilizing economic indicators.
The forecast was revealed by the Investment Analysts Association (IAA). The projection is based on input from 24 investment analysts and fund managers. The IAA also revised its GDP growth forecast for 2024 to 2.62%. For 2025, GDP growth is expected to range between 2.4% and 3.5%.
Key factors influencing the market include inflows from the newly introduced Vayupak Fund and favorable domestic economic trends. However, analysts warn of potential risks, such as political uncertainties and possible adjustments to Quantitative Easing (QE) policies by major global economies. The survey also expects the Bank of Thailand’s policy rate to stay at 2.25% through 2024, before stabilizing around 2% in 2025.
For this year, the average Earnings Per Share (EPS) for the Thai stock market is forecasted at 89.91 baht, reflecting a growth rate of 12.18%. By the end of 2025, the average EPS is expected to reach 98.65 baht. The SET Index is predicted to fluctuate between 1,365 and 1,634 points throughout 2025, closing at around 1,614 points.
Analysts recommend a diversified investment strategy. For domestic investments, they suggest focusing on sectors such as retail, finance, tourism, and technology. For foreign investments, U.S. equity funds—particularly in technology, AI, and healthcare—are highlighted. Selected markets in Asia, including China, India, and Vietnam, are also recommended.
Large-scale infrastructure projects and tourism expansion are expected to further support long-term economic growth. (NNT)
