The Stock Exchange of Thailand (SET) Index closed at 1,441.53 points on February 12, 2026, rising by 29.83 points or 2.11%, with a trading value of THB 78.4 billion. Foreign investors were net buyers for the eighth consecutive trading day, adding THB 10.5 billion in net inflows, which brought their total net purchase for the year to THB 47.8 billion.
According to Mr. Therdsak Thaveeteeratham, Deputy Managing Director, Research Division at Asia Plus Securities, foreign buying of Thai equities has reached its highest level in four years, signaling renewed investment momentum in the Thai market. He attributes this surge to multiple factors, most notably the Thai market’s attractive returns compared to global peers.
The Thai stock market’s average dividend yield is about 4.2%, with a yield gap versus bonds approaching 3%—historically a threshold triggering foreign capital inflows. Thailand’s dividend yield also surpasses that of Europe, Hong Kong, and Japan.
Anticipation of new policies such as TISA and growing policy stability are also seen as catalysts, while a smoother government formation, akin to prior periods of political stability, is likely to further support investor confidence. Historically, the Thai market tended to rally by an average of 7.8% during such periods.
The favorable global investment climate, amid rallies in the U.S. and European markets, is also reducing external risk and fostering further inflow into risk assets. Mr. Therdsak underscores that this current fund flow is supported by structural fundamentals and is more than mere short-term speculation.
He recommends investors watch for “laggard” stocks with solid fundamentals and potential to catch up, particularly large caps that are already attracting foreign interest. Sectors highlighted include healthcare (BDMS, BH), energy (PTTEP, PTT), retail-tourism (MINT, CPALL, CPN, CRC), and banks-industrial estates (KBANK, KTB, AMATA, WHA).
Mr. Koraphat Vorachet, Division Head of Research at Krungsri Securities, points out that the Thai market is primed for further gains, supported by foreign inflows and rising political stability. Should the ruling coalition maintain a majority in parliament, the index could range between 1,420 and 1,500 points within three months. He also expects several Thai stocks to be added to the MSCI index, making the market even more attractive to global investors.
Short-term strategies favor infrastructure, power plants, ICT, and “laggard” stocks—including CPALL, BDMS, and CPAXT—that could benefit from a tourism-driven recovery in consumer spending.
Yuanta Securities sees positive signs for Thai mid- and small-cap stocks, historically overlooked in favor of blue chips, as indices like sSET and mai begin to outperform the SET Index. Recommended stocks with strong fundamentals include NER, EPG, AURA, KCG, THCOM, BBIK, TMAN, SPA, and FSMART.
