Thailand Focus 2026: Six Southeast Asian Stock Exchanges Align Plans to Attract Foreign Investors

KUALA LUMPUR, BANGKOK, 26 AUGUST 2026 —

Thailand Focus 2026: Six Southeast Asian Stock Exchanges Unveil Joint Blueprint to Attract Global Investors

The panel, titled "Luncheon Talk: ASEAN Growth Opportunities (ASEAN Exchange Session),", emphasized that while global capital markets remain significantly underweight in ASEAN assets, the region should be seen as an interconnected ecosystem of complementary opportunities rather than a collection of competing markets.

The executives highlighted ongoing structural reforms, technological advancements, and regional integration efforts across exchanges in Malaysia, Indonesia, the Philippines, Singapore, Thailand, and Vietnam. These initiatives aim to channel global capital into ASEAN’s growing economies, fostering long-term prosperity and financial resilience.

Malaysia Leads with Strong IPO Momentum and Islamic Capital Market Dominance

Under the leadership of Chief Executive Officer Dato’ Fad’l Mohamed, Bursa Malaysia has seen robust initial public offering (IPO) activity, with 60 listings in 2025 raising nearly MYR 6 billion and achieving a total market capitalization of MYR 27.4 billion. The momentum continued into the first half of 2026, with 42 IPOs securing nearly MYR 6 billion in proceeds.

Malaysia’s capital market is distinguished by its diversified sectoral base and a strong domestic institutional investor base capable of injecting over MYR 28 billion in new investment capital. The country also stands as a global leader in Islamic Capital Markets, with Shariah-compliant securities accounting for 80% of its capital market. This is supported by Malaysia’s industrial strength, as it ranks as the world’s sixth-largest semiconductor exporter, contributing 13% to global chip assembly and testing.

Indonesia Accelerates Structural Reforms to Boost Foreign Investor Confidence

Led by Director of Trading and Membership Mr. Irvan Susandy, the Indonesia Stock Exchange (IDX) is advancing a comprehensive restructuring plan in collaboration with the Financial Services Authority (OJK) to enhance corporate governance and attract foreign investment.

IDX is on track to complete its demutualization into a publicly listed company under a new legal framework by late 2026 or early 2027. The exchange will also upgrade its trading infrastructure in December 2026 and recently expanded its product offerings by launching five Gold ETFs. To align with global standards, IDX is working with stakeholders to implement sustainable reforms and harmonize its indices with S&P and FTSE benchmarks.

The exchange currently serves over 30 million registered investor accounts, with approximately 30% classified as active, regular traders.

Philippines Targets Liquidity Reforms Amid Attractive Valuations Under President and CEO Mr. Ramon S. Monzon, the Philippine Stock Exchange (PSE) is prioritizing short-term structural reforms to address liquidity challenges. The Philippine market currently trades at a price-to-earnings (P/E) ratio of 9.56x, significantly below its historical average of 12–13x and the ASEAN average of 13–17x. Listed companies report an average profit margin of 14%, placing the Philippines third in ASEAN after Singapore and Indonesia.

With a young and growing population and domestic consumption contributing 75% to GDP, the country’s economic growth is projected to rebound to 6–7% as structural reforms take effect.

Singapore Exchange Reinforces Role as Regional Capital Gateway

Led by CEO Mr. Loh Boon Chye, the Singapore Exchange (SGX) continues to position itself as a resilient, multi-asset exchange focused on sustainable growth. Southeast Asian and South Asian enterprises now represent 20% of listed companies on SGX’s mainboard, reinforcing its role as the region’s primary capital gateway.

Thailand Aims to Become ‘Trusted Gateway to Inclusive Opportunities’

President Mr. Asadej Kongsiri outlined the Stock Exchange of Thailand’s (SET) vision to serve as "The Trusted Gateway to Inclusive Opportunities," aiming to mobilize capital and support stable economic growth. The SET’s strategy focuses on enhancing market accessibility, digital infrastructure, and sustainable investment products to attract both domestic and international investors.

Vietnam Builds Dynamic Capital Market Through Strategic Pillars

Deputy CEO Mr. Dang Tai An Trang outlined the Vietnam Exchange’s (VNX) development plan, centered on four strategic pillars: market accessibility, market quality, investment products, and market credibility. These initiatives are designed to reinforce Vietnam’s position as one of Asia’s most dynamic and strategically located capital markets.

Regional Integration and Global Appeal The collective efforts of these exchanges reflect a broader trend of ASEAN capital markets seeking to enhance their global competitiveness. By improving regulatory frameworks, upgrading technological infrastructure, and expanding product offerings, the region aims to attract foreign capital that has historically been underweight in ASEAN assets.

The alignment of these exchanges under a unified narrative—positioning ASEAN as a cohesive economic bloc—could help shift global investor perceptions and unlock new growth opportunities across the region.

Forward-Looking Outlook As these exchanges continue to implement their respective roadmaps, the coming years will be critical in determining whether ASEAN can achieve its ambition of becoming the world’s fourth-largest economy by 2040. Success will depend on sustained reforms, continued technological innovation, and the ability to present a unified front to global investors.

For now, the momentum is clear: Southeast Asia’s capital markets are evolving rapidly, with Malaysia, Indonesia, the Philippines, Singapore, Thailand, and Vietnam each playing a distinct yet complementary role in shaping the region’s financial future.

Related: Bursa Malaysia · Dato’ Fad’l Mohamed