SET Index Hits 2.75-Year High

Summary

Summary of the Thai Stock Market in May 2026: The SET Index reached 1,568.37 points, marking the highest level in 2 years and 9 months. Daily trading value saw a significant increase, and foreign investors returned to net buying. Certain industries, such as technology and industrial goods, performed better than the overall index. Additionally, the Thai economy showed signs of recovery, supported by increased investments and exports, while global geopolitical concerns eased. The government introduced a stimulus package worth 400 billion baht to boost economic growth.

Key Points

• The SET Index closed at 1,568.37 points in May 2026, its highest point in 2 years and 9 months, increasing by 5% from the previous month and 24.5% since the end of 2025.
• Average daily trading value of SET and mai in May 2026 was 66,479 million baht, up 53.4% compared to the same period last year.
• For the first 5 months of 2026, the average daily trading value was 64,195 million baht, marking a 51.9% increase from the same period in 2025.
• Technology and industrial goods sectors performed better than the SET Index compared to the end of 2025.
• Foreign investors returned to net buying in May 2026, with a net purchase of 3,366 million baht, leading to a cumulative net purchase of 20,004 million baht in the first five months of 2026.
• Foreign investors accounted for the highest share of trading value at 52.8%, followed by domestic retail investors at 32.6%, domestic institutional investors at 7.2%, and securities companies at 7.4%.
• Crude oil prices decreased in May 2026 but remained higher than pre-Middle East conflict levels.
• Global stock market volatility, including Thai stocks, decreased in May 2026.
• AI-related themes and investments in digital infrastructure continued to be key drivers for the global stock market.
• Thailand’s stock market showed strong performance in 2026, with large IPO deals expected in the U.S. markets.
• Thai economic growth in Q1/2026 expanded by 2.8% YoY, exceeding analysts’ expectations. The growth was supported by strong investments and exports.
• The Thai government announced a 400 billion baht economic stimulus package, focusing on immediate relief for citizens and promoting energy transition and infrastructure development.
• The earnings of Thai listed companies in Q1/2026 showed growth, with net profits increasing by 25.3%, driven by industrial goods, resources, and technology sectors.
• Analysts have revised future earnings projections upward for various industries, especially those related to oil and commodities.
• Inflation trends and monetary policies of major central banks remain key factors influencing global financial markets.
• The Earning Yield Gap (EYG) of the Thai stock market was near 4% in May 2026, reflecting a continued recovery of the SET Index.

The SET Index reached its highest point in May 2026 due to several key factors:

1. Strong Market Performance

• The SET Index closed at 1,568.37 points, marking a 5% increase from the previous month and a 24.5% increase from the end of 2025.

2. Increased Trading Activity

• The average daily trading value of SET and mai rose to 66,479 million baht, which is a 53.4% increase compared to the same period last year, indicating a robust recovery in market activity.

3. Foreign Investment

• Foreign investors returned to net buying, with a net purchase of 3,366 million baht in May 2026, contributing to a cumulative net purchase of 20,004 million baht in the first five months of the year.

4. Sector Performance

• Specific sectors, particularly technology and industrial goods, outperformed the overall SET Index, which attracted more investment into these areas.

5. Economic Recovery Indicators

• The Thai economy showed signs of recovery, with GDP growth of 2.8% YoY in Q1/2026, driven by strong investments and exports.

6. Government Stimulus Measures

• The announcement of a 400 billion baht economic stimulus package aimed at boosting spending and investment helped improve market sentiment.

7. Global Market Trends

• Easing geopolitical concerns and a decrease in global stock market volatility contributed to a more favorable investment environment.

These factors combined created a positive outlook for investors, driving the SET Index to its peak in May 2026.

Source : Presentation summarizing the overall stock market situation in May 2026

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