SET Market Report For October 2018

The Stock Exchange of Thailand (SET) Index at the end of October dropped 5 percent from the previous month and down 4.8 percent from end-2017 to 1,669.09 points, less decline than other Asian bourses. The average daily trading value of SET and Market for Alternative Investment (mai) in October was THB 54.6 billion (approximately USD 1.65 billion), down 15.5 percent from the same period a year earlier. Local institutional and retail investors were net buyers in October.

SET President Pakorn Peetathawatchai said that SET index in October joined a global stock sell-off, triggered by investors' anxiety that the US-China trade dispute would deal a blow to the global economy. Comparatively, SET index fell from the end of 2017 at a slower pace than those in most of Asian markets, thanks to Thailand's economic stability and banks’ year-on-year net profit growth during the third quarter.

Key highlights for October

Securities market:

In October, foreign investors cashed out a net THB 64.3 billion of Thai shares, in tandem with their selling sprees in other regional markets.
SET Index ended October at 1,669.09 points, falling 5 percent from the previous month and 4.8 percent from end-2017. Resources and Financials industry groups outperformed SET Index.
Forward P/E ratio of SET stood at 15.43 times at end-October, while historical P/E ratio was 16.51 times, above the average of the Asian stock markets' at 13.19 times and 13.99 times, respectively.
Dividend yield ratio of SET was 3.16 percent at end-October, higher than Asian stock markets' average ratio of 3.08 percent.
A combined market capitalization of SET and mai at end-October amounted to THB 17.3 trillion, down 3.4 percent from the end of 2017, moving in line with SET Index.
The average daily trading value of SET and mai in October was THB 54.6 billion, falling 15.5 percent from the same period a year earlier.

Derivatives market:

In October, the average derivatives trading volume dipped 24.3 percent from the previous month to 379,863 contracts per day, mainly driven by the decline in transactions of Single Stock Futures.