The Stock Exchange of Thailand (SET)

Development Plan (1967–1971) established the Securities Exchange of Thailand to mobilize funds to support industrialization and economic development. This was the country's first officially sanctioned, supervised, and regulated securities market.The Bangkok Stock ExchangeIn 1961 Thailand implemented its first five-year National Economic and Social Development Plan to support the promotion of economic growth and stability and to develop the kingdom's standard of living. The Thai stock market began in July 1962 when a private group established an organized stock exchange as a limited partnership. The group later became a limited company and changed its name to the "Bangkok Stock Exchange Co., Ltd." (BSE) in 1963.Despite its well-intended foundation, the BSE was insufficiently active. Annual turnover was only 160 million baht in 1968, and 114 million baht in 1969. Trading volumes continued to fall sharply thereafter, to 46 million baht in 1970 and 28 million baht in 1971. The turnover in debentures reached 87 million baht in 1972, but stocks continued to perform poorly, with turnover hitting an all-time low of only 26 million baht. The BSE finally ceased operations in the early 1970s. It is thought that the BSE failed because of a lack of official government support and a limited investor understanding of the equity market.