Published On: Fri, Feb 21st, 2014

Thailand Bourse Market Report For January

Charamporn Jotikasthira President of SET

Charamporn Jotikasthira President of SET

The Stock Exchange of Thailand (SET) securities trading value in January rose from a month ago, but dropped sharply from a year earlier. The SET index fell in January, in line with other key global markets, dampened by weakness of China and U.S. economic outlooks, the U.S. Federal Reserve Bank’s quantitative easing, and uncertainties of economic stability among emerging markets.

The SET main index ended January at 1,274.28 points, down 1.9 percent from end-2013. Foreign investors had been selling Thai shares for the past three consecutive months, selling a net USD 415 million in January, with downward trend similar to the stock markets in Philippines and South Korea.

Combined average daily trading value of SET and Market for Alternative Investment (mai) was at THB 31.76 billion (approx. USD 983 million), or up 11 percent from a month ago and down 45.2 percent from a year earlier, while daily trading volume of derivatives dropped 5.2 percent from a month ago at 53,692 contracts per day.

Key highlights for January

Securities

– Market capitalization of the SET was at THB 11.31 trillion (USD 350 billion), down 4.05 percent from the end of 2013, while market valuation of the mai was at THB 157.49 billion (USD 4.88 billion), down 11.2 percent.
– The forward P/E ratio for the SET was at 11.63 times, down from 13.45 a year ago, while mai’s forward P/E ratio increased to 12.41 times, due mainly to expectations of higher earnings growth this year.
– The dividend yield of the SET was at 3.36 percent at the end of January, while mai’s was at 2.02 percent.
– Most SET’s sector indices at the end of January were lower than those at the end of 2013, except Finance and Information and Technology Communication sectors.
– Listed companies raised funds through equity worth a combined THB 5.44 billion in January, down 42.11 percent a year earlier, of which, THB 4.7 billion was raised from initial public offerings (IPOs) of a property fund, and THB 740 million was raised from the secondary market.

Derivatives

-Derivatives trading volume fell 5.21 percent in January from a month earlier to an average of 53,692 contracts per day, down 20.78 percent from a year earlier.
All types of securities dropped except SET50 index futures.

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