“Investor confidence surges to “Very Bullish”

Fund inflows and corporate earnings seen as key supports

Domestic politics and trade war weigh on sentiment”

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                                                                      FETCO Press Release: 7 September 2026

 

Paiboon Nalinthrangkurn, Chairman of the Federation of Thai Capital Market Organizations (FETCO), revealed that the FETCO Investor Confidence Index (FETCO ICI) for August 2026, based on a survey conducted from 24–31 August 2026, was in the “Very Bullish” zone at 165.89 for the three-month outlook. Investors viewed fund inflows as the strongest support for market sentiment, followed by listed companies’ earnings and government economic stimulus measures. The factors weighing most heavily on investor confidence were the domestic political situation, followed by the trade war and international conflicts.

 

Highlights of FETCO Investor Confidence Index surveyed in August 2026 are as follows.

  • Overall FETCO Investor Confidence Index for the next three months (November 2026) is in the “Very Bullish” zone (160–200 of FETCO ICI Criterion) at 89.
  • Confidence among retail investors was in the “Neutral” zone, while confidence among proprietary and domestic institutional investors was in the “Bullish” zone, and confidence among foreign investors was in the “Very Bullish” zone.
  • Most attractive sector is Transportation & Logistics (TRANS).
  • Least attractive sector to investors is Media & Publishing (MEDIA).
  • Most influential factor driving the Thai stock market is fund inflows.
  • Most important factor impeding the Thai stock market is the domestic political situation.

 

“The survey results in August 2026 showed that retail investor confidence fell 1.4% to 117.80, proprietary investor confidence declined 6.7% to 155.56, domestic institutional investor confidence increased 4.2% to 131.58, and foreign investor confidence rose 20.0% to 200.00.

 

 

During August 2026, SET Index continued to gain through the first half of the month, supported by stronger-than-expected Thai GDP growth in Q2 2026 and robust private investment. In the second half of the month, foreign investors were net sellers amid profit-taking following the SET Index’s sharp gains. Concerns over the prolonged tensions in the Middle East, uncertainty over the Federal Reserve’s monetary policy direction, and persistently high global government bond yields also weighed on the market. As a result, SET Index closed August 2026 at 1,595.16, down 1.75 percent from the previous month. Average daily trading value stood at THB 75,050 million. Foreign investors were net sellers of THB 24,681 million during the month, while their year-to-date net purchases totaled THB 51,184 million.

 

On the international front, investors are monitoring the Federal Reserve’s monetary policy outlook following remarks by the Fed Chair that prompted markets to raise expectations for a rate hike in September. Investors are also watching the yen’s direction and the Bank of Japan’s monetary policy, as well as the prolonged tensions in the Middle East. Additional sanctions on Iran and pressure on countries doing business with Iran have also raised risks to energy supplies and oil prices.

 

Domestically, investors are monitoring the recovery of the Thai economy in the second half of the year, the government’s ability to effectively implement economic policies, particularly stimulus measures, and the deliberation of the 2027 government budget. Investors are also watching the impact of U.S. trade measures on Thailand’s exports and supply chains. Meanwhile, investors remain focused on uncertainties surrounding the investigation into allegations concerning the Senate selection process, as well as the ballot barcode case, with the Constitutional Court scheduled to rule on the case on September 28, 2026.”