SET And Thailand Stock Market

          The modern Thailand Stock Market has its origins in the 1960s. It was during the Second National Economic and Social Development Plan that Thailand decided to have its first organized securities market to mobilize more investment and capital to aid national economic development.

           Thailand’s stock market was initially in two phases. The first phase was the privately owned Bangkok Stock Exchange followed by the established of the Securities Exchange of Thailand.

          In 1962, a private group established an organized stock exchange as a limited partnership. This was the Bangkok Stock Exchange and it got its name in 1963 after the group became a limited company. However, Bangkok Stock Exchange did not create too many ripple and its annual turnover in 1968 was just 160 million baht and in 1969 114 million baht. The Bangkok Stock Exchange ceased its operations in the early 1970s after a steep fall in its turnover and poor performance. It is believed that the government did not support the Bangkok Stock Exchange along with limited understanding of the equity market by investors.

          In 1974, the government of Thailand enacted a legislation that led to the establishment of The Securities Exchange of Thailand. At the end of 1974, the Revenue Code was revised and this allowed the investment of savings in the capital market. In 1975, The Securities Exchange of Thailand officially started trading. In January 1991, The Securities Exchange of Thailand’s name was formally changed to The Stock Exchange of Thailand, or SET as it is popularly known as now.

          Thailand’s capital market is regulated and overseen by the Securities and Exchange Commission (SEC). However, the money market in Thailand is overseen by the Bank of Thailand (BOT). The Securities and Exchange Act of 1992 has made a clear distinction between the primary and secondary market in Thailand so that both develop successfully, and these markets are regulated by the Securities and Exchange Commission.

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