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“Lyndon Chao, managing director of the Asia Securities Industry and Financial Markets Association (ASIFMA), said the Thai capital market has the ability to adapt even though it was hit hard by the Covid-19 pandemic and the changes that followed across the supply chain. The changes that hit the Thai market hard included decreased liquidity, a tight credit situation, a sharp fall in stock prices, and changes in government. People have less money in their pockets and lately investors have less confidence in corporate governance. “For investors, government instability should not lead to policy instability,” he noted. Nonetheless, Thailand’s capital market still has a 37% share of the overall capital market within Asean and has the opportunity to expand during the end of the year, added Mr Chao. “Thailand should learn from case studies in other countries. For example, the Japan Exchange Group recommends companies improve their governance to enhance trust between companies and investors. In addition, a suitable pension reform programme would attract more people to invest because there would be many investment options and it would include tax incentives.”
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