The Stock Exchange of Thailand’s (SET) securities trading volume in July rose 6.1 percent from the previous month, but down 19.44 percent from a year earlier. Market sentiment in July was weighed by mounting concerns of Euro debt crisis, especially in Greek and Spain, and China’s economy is growing at a slow pace.
However, robust quarterly performances of Thai listed firms, better performances of petroleum stocks following higher oil prices, and easing political pressures lend support.
At the end of July, the SET main index was at 1,199.30 points, up 2.32 percent from the previous month and rising 16.97 percent from the end of 2011, making it Asia’s third best performer, after Vietnam and Philippines.
Key highlights for July
- Combined average daily trading volume of SET and Market for Alternative Investment (mai) was at THB 27.95 billion (approx. USD 873 million), up 6.1 percent from June, but down 19.44 percent from a year earlier.
- Market capitalization of SET was at THB 9.94 trillion (USD 31.07 billion), up 2.39 percent from June, up 18.25 percent from the end of last year and market valuation of mai was at THB 86.23 billion (USD 2.70 billion), up 11.53 percent from the end of 2011, and up 5.48 percent from the previous month.
- Forward P/E ratio for SET was at 12.78 times, up from 12.21 at end-June, but down from 12.99 a year ago. mai’s forward P/E ratio increased to 12.20 times from 11.31 a year ago, and 11.75 at the end of June.
- Foreign investors were net buyers in July, purchasing a net THB 525 million (16.4 million) in July. Since the start of this year, foreign investors have bought a net THB 64.62 billion. Their trading volume accounted for 24.58 percent of total trading volume.
- Listed companies raised funds through equity worth a combined THB 7.46 billion (USD 233 million) in July. Of that, THB 4.71 billion (USD 147 million) was from initial public offerings (IPOs), and THB 2.74 billion (USD 486 million) was from secondary equity offerings. In the first seven months of this year, a total of THB 68.29 billion (USD 2.13 billion) was raised through the Thai stock market.
- Derivatives trading volume fell 17.46 percent from a month earlier to an average of 43,380 contracts per day, mainly due to falling trading volumes of SET50 Index Futures Gold Futures and SET50 Index Options. In the first seven months, average daily trading volume was at 43,954 contracts, up 34.16 percent from a year earlier.