Page 14 - SET SD 2563 - EN

About This Report Messages from
& Contents the Chairman & President
About SET and Sustainable SET Development
Sustainability Performance
Sustainability Management
Market Growth
SET and Sustainable Development
Overview of SET in 2020
In 2020, the world faced significant challenges from the COVID-19 pandemic. Beyond affecting the public health system and people’s quality of life, the social distancing measures enacted in response to COVID-19 also disrupted economic activities. Indeed, the economy slowed down and the unemployment rate spiked up rapidly, particularly within the tourism and services industry. These impacts were quick to spread, and countless people were affected, from entrepreneurs and the private sector, to various departments in the capital market. All needed to adapt to stay afloat in such a vulnerable situation.
The COVID-19 pandemic, in combination with international economic conditions, caused greater volatility in the SET Index in 2020, as it did with other stock exchanges. From March to April especially, the SET Index was at its lowest value of 1,024.46 on 23rd March, before readjusting to within the normal range during the second half of the year.
COVID-19 has continued to change people’s way of life in numerous ways, where this is now commonly referred to as the ‘New Normal’. For example, there have been changes in ways of communicating, conducting transactions, and working that are increasingly reliant on technology and innovation. At the same time, measures to prevent and monitor the spread of COVID-19 must continue to be encouraged.
Furthermore, the capital market will confront other challenges that are expected to affect volatility over the next two to three years. These include the effects of major economies’ fiscal policies on global market liquidity, international trade policies, fluctuations in the prices of goods, and domestic political uncertainties.
In recognizing the challenges in these situations, SET collaborated with its internal and external stakeholders to develop and maintain the competitiveness of the Thai capital market in the New Normal era. Responses included enacting Work from Home policies to ensure the safety of all em- ployees and personnel, ensuring an effective risk monitoring and internal control system, as well as being transparent in communicating and disseminating information via digital channels. In addition, SET partnered with relevant parties to implement mitigation measures for business owners to prevent business disruptions and maintain the overall stability of the capital market, which received support from employees and relevant parties across all sectors of the capital market. As a result, in 2020, the Thai capital market continued to be a regional leader in fundraising, product and service development, and internationally-recognized for the quality of its listed companies.
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Sustainability Report 2020