Story perspectives

Thai Market Soars 14% Amid Political Calm and Bank Gains

7/22/2025

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Summary

Story summary

The Thai equity market surged 14% since June 23, fueled by large-cap stocks and easing political concerns.
Analysts foresee a "short-leg" rally, estimating the SET Index will range between 1,200 and 1,300, urging caution on weak stocks.
Vitai Ratanakorn's appointment as Bank of Thailand governor on October 1 may lead to aggressive monetary easing.
Major Thai banks exceeded Q2 profit expectations but face challenges in loan growth and asset quality, prompting a cautious outlook for H2 2025.

History

Historical Context

The 1997 Asian Financial Crisis severely impacted Thailand, which had enjoyed rapid economic growth of over 9% annually from 1985 to 1996. Following speculative attacks on the baht, the Bank of Thailand secured a $17 billion IMF bailout in August 1997. Today, Thailand's equity market has rebounded, reflecting recovery and potential growth influenced by monetary policy changes.

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Story summary

The Thai equity market surged 14% since June 23, fueled by large-cap stocks and easing political concerns.
Analysts foresee a "short-leg" rally, estimating the SET Index will range between 1,200 and 1,300, urging caution on weak stocks.
Vitai Ratanakorn's appointment as Bank of Thailand governor on October 1 may lead to aggressive monetary easing.
Major Thai banks exceeded Q2 profit expectations but face challenges in loan growth and asset quality, prompting a cautious outlook for H2 2025.

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