Anyway you look it, a highly distorted Thai stock exchange.

Anyway you look at here its a highly price distorted Thai stock exchange.

Here shown is the Thai "SSet" index graph showing its performance over the past, say10 years. This is an index of 120-130 smaller cap. Thai stocks. Its exact number varies every six months just a bit between this number, depending if they moved-up or down, during this just past period.

Note how SSET index dropped in half over the past 4 years and is now just off the ultra lows hit during the worst "horror" months of Covit-19, back in early year 2020. While the SET benchmark index is down 20% during this same 4 year period (since its high back in 2022). It shows how even during the recent mkt rebound, smaller very high dividend stocks are/remain all but ignored. The reason is because foreign institutions only consider big cap. stocks here and traders/speculators piggy-back on those. While smaller retail investors have been "once burned twice shy".   

While DELTA (252) the biggest cap. stock, the first to hit 100 Bill US$ in mkt. cap. today, here commands near all the attention -while trading at a stratospheric trailing p/e of 127 besides a minuscule 0.24% dividend!

Today, as so often since the Feb. 8th elections the SET index is up nicely yet again, while SSET index is down. The Thai stock exchange remains ultra-distorted where very low p/e's & p/book values besides ultra high dividends still seem not to matter.  A topsy turvy world. Go figure.   I keep believing, the "revenge of the nerds" are/will be the many very high current dividends.