One Asset Management (ONEAM) recommends US stocks, gold and Bitcoin for investors this year amid volatility caused by US President Donald Trump's trade policies.
Pote Harinasuta, chief executive of ONEAM, said global stocks continue to surge, especially US stocks focused on innovation, benefiting from Trump's pledge to cut corporate taxes.
The average prices of US and Indian stocks have increased significantly and are very expensive at the moment. Yet uncertainty about Trump policies led ONEAM to believe US stocks will continue to rise this year, he said.
Meanwhile, Bitcoin returned almost 200% last year and Bitcoin funds are starting to attract institutional investors. Based on support in Trump's speeches, the price of the world's best-known cryptocurrency is expected to keep rising in 2025.
The bourses in Thailand, Indonesia and South Korea registered the lowest returns last year, while the main exchanges of Japan, US and Europe advanced.
"We need to monitor whether Trump's policy of raising tariffs on China, Mexico and Thailand will really be implemented. Trump is the major uncertainty factor," said Mr Pote.
Investors should also watch interest rates and the direction of bond yields. Geopolitical risks remain, particularly China-Taiwan tensions and the Russia-Ukraine conflict, he said.
"Investment portfolios should overweight US stocks, gold and Bitcoin," said Mr Pote.
"Investors should wait for the opportunity to invest, particularly after the direction of US interest rates becomes clearer."
Asadej Kongsiri, president of the Stock Exchange of Thailand (SET), said the bourse collaborated with the Securities and Exchange Commission to restore investor confidence in the Thai capital market.
"We have been working together over the past 2-3 months to upgrade supervision, which has helped improve investor confidence," he said.
In addition, the SET supports the launch of exchange-traded funds in Thailand to give investors the opportunity to generate hedging income. Depositary receipts (DR) are another interesting investment product, said Mr Asadej.
So far, 70 DRs have been launched and the number will continue to increase, he said.
There are roughly 40 initial public offerings ready to launch on Thai exchanges this year, both the SET and the Market for Alternative Investment.
Those share debuts remain on track even though the market is highly volatile at the moment, said Mr Asadej.