Analysis of Eficiency, Competitiveness, and Ecosystem Development. inflows, driven largely by non-retail domestic investors, reaching up to THB 194.7 billion (USD 6 billion) in 2020 also contributed inflows but with less sustained impact. Institutional behavior also differed across the three markets. Thailand's local institutional investors were relatively more volatile, Swinging from THB -154 billion (USD 5 billion) in 2022 to THB 81 billion (USD 2.6 billion) in 2023, whereas Korea and Taiwan experienced smaller institutional fluctuations, typically within ±THB 356.95 billion (USD 11 billion). Overall, Thailand's market is characterized by persistent foreign selling offset by robust domestic Korea: Net Trading Value on Local Exchange by Investor Type (2020-2024, in Billion THB)