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Thai bourse enjoyed increasing interest from investors, gained higher liquidity in stock trading, and hit several new trading records during the first quarter of 2013, due to the improvement of monetary and fiscal policies in various key economies, including the U.S., China and Japan, which started to pay off and help rectify the slowdown, together with improved earnings of Thai listed companies.
At the end of Q1/2013, The Stock Exchange of Thailand (SET)’s main index closed at 1,561.06 points, up 12.15 percent from the end of 2012, while its market capitalization was at THB 13.29 trillion (approx. USD 458.16 billion), increasing 12.30 percent, while market valuation of the Market for Alternative Investment (mai) was at THB 188.43 billion (approx. USD 6.49 billion), rising 41.66 percent from last year’s end. In March 2013, SET and mai’s combined average daily trading volume was at THB 72.81 billion (approx. USD 2.51 billion), an all-time high since trade on the Thai bourse commenced.
For the Thailand Futures Exchange (TFEX), the average daily trading volume in March 2013 jumped to record high at 92,362 contracts per day, while the average daily trading volume of single stock futures in March 2013 also hit its highest-ever level at 59,628 contracts per day.
Key highlights
Securities
- At the end of Q1/2013, the SET Index closed at 1,561.06 points, up 12.15 percent from end of 2012 and 1.26 percent from end of February 2013.
- Market capitalization of the SET and mai, at the end of Q1/2013, increased, in tandem with the SET Index and the increasing numbers of listed companies. Market capitalization of the SET was at THB 13.29 trillion (approx. USD 458.16 billion), up 1.13 percent from the preceding month and 12.30 percent from the end of 2012, while mai’s market capitalization was at THB 188.43 billion (approx. USD 6.49 billion), up 2.87 percent from the previous month and 41.66 percent from the last trading day of 2012.
- SET’s forward P/E ratio at the end of Q1/2013 continued to rise and stood at 14.38 times from 12.61 at the same time of 2012 and 14.17 times at the end of February 2013, while mai’s forward P/E ratio was at 19.32 times from 11.68 at the end of Q1/2012 and 18.72 at the end of February 2013.
- The dividend yield of the SET was at 2.69 percent, while mai's was at 1.39 percent.
- In Q1/2013, the combined daily trading volume of SET and mai averaged THB 64.26 billion (approx. USD 2.21 billion), a 105.61% y-o-y increase. In March 2013 alone, the two market’s combined daily trade averaged THB 72.81 billion (approx. USD 2.51 billion), a record high, with trade peaking on March 22 at THB 105.57 billion (approx. USD 3.64 billion).
- In the first quarter of this year, foreign investors posted a net buy of THB 3.91 billion (approx. USD 134.60 million), with March recording a net buy of THB 6.17 billion (approx. USD 212.75 million) and an average daily trading volume of THB 12.21 billion (approx. USD 421 million).
- In terms of fund-raising, listed companies raised funds through equity worth THB 19.83 billion (approx. USD 683.72 million). Of that, THB 3.92 billion (approx. USD 135.06 million) was raised from 5 new listing companies on the main bourse, while THB 15.91 billion (approx. USD 548.65 million) was raised from the secondary market.
Derivatives
- In Q1/2013, an average daily trading volume of derivatives on TFEX jumped to 77,118 contracts, increasing 75.10 percent from Q4/2012 and 119.70 percent from Q1/2013.
- In March 2013, there were more than 2 million contracts traded on TFEX. Derivatives trading per day jumped to all-time high at 95,362 contracts, due to higher trading volume of single stock futures, surged 6.4 times when compared with Q1/2012.
- In March 2013, single stock futures recorded an average daily trading volume of 59,628 contracts, the highest since November 2008.
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