Thailand Stock Market

Major Stock Exchange Introduction

The Securities Exchange of Thailand (SET)

The Securities Exchange of Thailand (SET) was officially established on 30th April 1975, and then formally renamed as“The Stock Exchange of Thailand”(SET) on January 1, 1991. The SET has been the members of Asian and Oceanian Stock Exchanges Federation, International Organization of Securities Commissions, and World Federation of Exchanges for more than 20 years. Its operation is monitored by The Securities and Exchange Commission (SEC). Apart from securities dealing, there are exchanges for futures and bonds trading in Thailand.

Major Index Introduction

SET Index

Include all the listed ordinary shares, the index is calculated from the market values of all common stocks. The Index was set at 100 points and established on 30th April 1975.

SET 50 Index

Include first 50 listed companies in terms of the large market values, high liquidity and compliance with requirements regarding the distribution of shares to minor shareholders. It is capitalization-weighted price index with the same methodology as the SET Index, and the constituents are subject to semi-annual review. 1,000 points are taken as the basis on 16 August 1995.

SET 100 Index

Include first 100 listed companies in terms of the large market values, high liquidity and compliance with requirements regarding the distribution of shares to minor shareholders. It is capitalization-weighted price index with the same methodology as the SET Index, and the constituents are subject to semi-annual review. 1,000 points are taken as the basis on 30 April 2005.

SET Industry Group Index and Sectoral Index

All the indices are calculated from the prices of the common stocks which share the same fundamentals which characterize each particular industry group and sector, respectively, also market capitalization-weighted. The base value is 100 points on 31st December 2003.

Industry Sector
Agro & Food Industry Agribusiness / Food and Beverage
Consumer Products Fashion / Home & Office Products / Personal Products & Pharmaceuticals
Financials Banking / Finance and Securities / Insurance
Industrial Automotive / Industrial Materials & Machinery / Paper & Printing Materials / Petrochemicals & Chemicals / Packaging / Steel
Property & Construction Construction Materials / Property Fund / Property Development
Resources Energy & Utilities / Mining
Services Commerce / Health Care Services / Media & Publishing / Professional Services / Tourism & Leisure / Transportation & Logistics
Technology Electronic Components / Information & Communication Technology

Others

In addition to the indices above, there are MAI index, FTSE SET index series, FTSE/ASEAN index, FTSE/ASEAN 40 index, and total return indices of SET, SET50, SET100 and industry groups.

Account Opening Procedures

Please click here for account open details.

Trading Information

CountryTrading Session(HongKong)Trade CurrencySettlement Currency & DurationEarliest HK time to accept orders for next trade day
*** Only limited services of pre-open, pre-close & after-close auction sessions are provided
Thailand Monday ~ Friday
Pre-opening I Session***
10:30 - T1
(T1 is the random opening time between 10:55 - 11:00 for calculating the opening price for the morning session.)
Morning Session
T1 - 13:30
Pre-opening II Session***
15:00 - T2
(T2 is the random opening time between 15:25 - 15:30 for calculating the opening price for the afternoon session.)
Afternoon Session
T2 - 17:30
Pre-close Session***
17:30 - T3
(T3 is the random closing time between 17:35 - 17:40 for calculating the closing price of each day.)
THB THD
HKD
USD
T + 2(effective from trading session start on 02 March 2018)
Monday ~ Friday
at 20:00
after previous market close

Commission

Please click here for commission details.

Trading Matters

Shares Classification

Shares of the listed companies, which are listed on the main board of the Stock Exchange of Thailand (SET), are generally classified into 3 classes:
  • Local Share
  • Foreign Share
  • NVDR (Non-Voting Depository Receipt)

Local Share

This is the basic category of common stocks when listing on the SET and is the common option for the Thais; the Thai investors, holding this kind of share, are entitled to dividends and voting rights. Therefore, Local Share has usually the higher turnover liquidity than foreign share and NVDR. Non-Thai investors can also trade Local Share, however, they are entitled to neither dividends nor voting rights.

Foreign Share

The SET has set up a foreign board for the non-Thai investors to trade and most listed companies have issued Foreign Share to trade on that board but subject to a percentage cap in terms of total outstanding shares of all classes. Low liquidity is not uncommon because of the smaller number of Foreign Share investors than Local Share. In addition, price quotes and transaction prices may differ from the Local Share. The holders of Foreign Share are entitled to both dividends and voting rights.

The common investors of receiving Foreign Share are:
  1. The staff of the company, which is listed on the SET, exercises employee share options, and receive the Foreign Share;
  2. The non-Thai receive the Foreign Share through placement.

Holders of the Foreign Share can give special trade orders, which are allowed to sell the share on the local board.

NVDR (Non-Voting Depository Receipt)

Thai NVDR Co., Ltd. (www.set.or.th/nvdr) was established by the SET in 2000, which is responsible for issuing and selling NVDR to investors. NVDR is recognized a valid security by SEC and automatically become listed in the SET. The aim of NVDR is to stimulate trading activities of the Thailand stock market. Apart from ordinary shares, the underlying securities may be preferred share, warrant and transferable subscription rights (TSR).

NVDR is available to the local, foreign and institutional investors. The transaction procedures of the NVDR are the same as the Local Share, price quotes of local share can be taken as a reference for NVDR.

NVDR holders are entitled to the same financial benefits as the ordinary share investors, such as: dividend, rights or warrant. The only difference between investing in NVDR and in ordinary share is in regard to voting. NVDR holders cannot be involved in company’s decision-making, whereas ordinary share investor can, unless the agenda concerns “delisting”.

Can NVDR be transferred into Local Share or Foreign Share?

Yes, through SET’s Put Through (PT) system.

Thailand Exchange Traded Funds (ETF)

The SET established the first ThaiDEX SET50 ETF on 6th September 2007.

Share Trading Unit

The size of board lot for each security is usually 100 shares, any order of less than 100 shares will be considered as an odd lot. For each security priced at 500 baht or higher for 6 consecutive months, one board lot is equivalent to 50 shares.

Price Spread for Thailand stock

Market Price Level (baht)Spread (baht)
Less than 2 0.01
2 up to less than 5 0.02
5 up to less than 10 0.05
10 up to less than 25 0.10
25 up to less than 100 0.25
100 up to less than 200 0.50
200 up to less than 400 1.00
400 up 2.00

Volatility restriction on Thailand stock market

Circuit Breaker is a system to ease any unusual volatility in the market that may cause investor panic. The mechanism will be exercised in 2 stages below:

Stage 1

If the SET index falls by 10% from the previous day’s close, all trading in listed securities will be halted fro 30 minutes;

Stage 2

If the SET index falls by 20% from the previous day’s close (i.e. another 10%), all trading in listed securities will be halted fro 1 hour.
If the trading time left in a session is less than 30 minutes, or one hour (as the case may be) after the circuit breaker comes to effect, trading will be halted until the closing time of that session, and the trading will then resume in the next session.

Other Trading Issues

No short selling is allowed for Thailand stock

Trade consolidation

On the same trading day, two or more transactions executed for the same stock and the same side via the same ordering channel (i.e. client’s online input or via account executive/staff) would be consolidated as one transaction in commission computation.

Depository Information

Please click here for depository steps and related depository bank account information.

Thailand stock online trading platform

Phillip provides free online streaming real-time price quotes and trading services for shares listed on the SET. Merging the trading layout with real-time price quotes, you can monitor prices as well as input your order.

Functions of the trading platform include:
  • Showing over 30 stock quotes in one layout
  • Setting up personal investment portfolio
  • Displaying the process of transactions
  • Showing positions and account balances

List of stock/ warrant for cash settlement

The SET has launched a new measure on 1st July 2008, local authorities disclose a list of stocks/warrants that requires investor to place full money for purchase every Friday night, credit limit is not applicable. For the full list and the criteria, please refer to relevant contents in the “List of Securities required to be traded in Cash Balance A/C” of the SET website and in the “Turnover list” of the SEC website.Alternatively, please contact foreign stock department at (852) 2277 6678.

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Tel : (852) 2277 6678 (24Hr)
Fax : (852) 2277 6006
Email : foreignstock@phillip.com.hk

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