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The Stock Exchange of Thailand (SET) Index at the end of September declined 1.1 percent from the previous month to 1,637.22 points, but gained 4.7 percent from end-2018. The average daily trading value of SET and Market for Alternative Investment (mai) in September was down 1.3 percent from a year earlier to THB 57.42 billion (approx. USD 1.85 billion). Foreign investors were net sellers in September of Thai shares at THB 11.58 billion (approx. USD 373.42 million) in line with regional peers.
SET Senior Executive Vice President Soraphol Tulayasathien said that the SET Index in September moved in tandem with other regional bourses. The lingering trade tensions showed signs of easing following the renegotiating between US and China. In addition, the US Federal Reserve also cut its policy rate while the weakened Japanese yen helped shore up Japanese trade. With these factors behind, investors increased their investment weighing in East Asia. Four industry groups on SET, namely Technology, Agro & Food, Resources and Services, outperformed the SET Index, driven by domestic factors that support business growth including telecommunication and energy infrastructure investment, urbanization and tourism expansion.
Key highlights for September
Securities market:
- SET Index ended September at 1,637.22 points, down 1.1 percent from end-August but up 4.7 percent from end-2018. Agro & Food, Technology, Resources, and Services industry groups outperformed SET Index.
- In September, foreign investors were net sellers at THB 11.58 billion of Thai shares.
- The average daily trading value of SET and mai in September slipped 1.3 percent from the same period last year to THB 57.42 billion.
- Forward and historical P/E ratios of SET were 16.5 times and 17.3 times respectively at the end of September, relatively higher than the average of the Asian peers of 14.4 and 15.5 times respectively.
- Dividend yield ratio of SET was 3.12 percent at end-September, surpassing MSCI Emerging Market average ratio of 2.93 percent.
- A combined market capitalization of SET and mai at end-September increased 5.7 percent from end-2018 to THB 17.1 trillion, in line with SET Index.
- Fund mobilized through IPOs during the first nine months of 2019 was THB 22.84 billion.
Derivatives market:
- In September, the average daily derivatives trading volume rose to 494,799 contracts, a 20 percent increase from the average of the first eight months' trading volume.
