SET50 is stock index in Thailand which illustrates movement in 50 highest common stocks
market capitalizations value. Moreover, those 50 stocks need to be liquid in the market and
minor shareholders of the qualified stocks have to pass pre-determined criteria. The stock list is
revised every 6 months. The SET50, presently, consists of agriculture and food, financial,
industrial, property and construction, resources, services, and technology industry (Stock
Exchange of Thailand, 2008).