The Stock Exchange of Thailand’s (SET) securities trading value in October rose 3.18 percent from a month ago, although the market mood was undermined by the European, United States, and Chinese economic woes, while the Bank of Thailand’ recent rate cut signaled more concerns of global economic risk.
Foreign investors were net sellers of Thai shares in October worth USD 582 million. However, they have bought a net USD 1.55 billion in the first ten months. The SET main index ended October at 1,298.87 points, making it the best performer among Asia’s key indices after it has risen 26.68 percent from the end of last year.
Combined average daily trading value of the SET and the Market for Alternative Investment (mai) was at THB 37.87 billion (approx. USD 1.22 billion), while daily trading volume of derivatives was down 12.87 percent from a month ago at 44,430 contracts per day.
Key highlights for October
Securities
- Market capitalization of SET was at THB 10.86 trillion (USD 350.21 billion), up 29.13 percent from the end of 2011, while market valuation of mai was at THB 119.43 billion (USD 3.85 billion), up 54.48 percent.
- Forward P/E ratio for the SET was at 14.10 times, up from 11.27 a year ago, but down slightly from end-September, while mai’s forward P/E ratio increased to 15.36 times from 8.63 a year ago and 13.87 at end-September.
- Dividend yield of the SET was at 3.46 percent at the end of October, making it Asia’s second highest. It was down from 4.13 percent a year earlier, and mai’s dividend yield was at 1.81 percent.
- Foreign investors were net sellers, selling Thai shares worth a net USD 582 million in October. They accounted for 22.77 percent of total trading volume.
- Daily securities trading value rose 3 percent during January-October from a year earlier, while trading value of other markets in the region dropped.
- Listed companies raised funds through equity worth a combined THB 44.10 billion in October. Of that, THB 3.43 million was raised from initial public offerings (IPOs) and THB 40.67 billion was raised from the secondary market.
Derivatives
- Total derivatives trading volume dropped 12.87 percent from a month earlier to an average of 44,430 contracts per day, with falls in all products. In the first ten months, derivatives trading volume was at 44,141 contracts, up 3.33 percent from a year earlier.
- Sector Index Futures was launched in October. The futures, tracking the movement of SET sectoral indices, initially cover five major sectors, which are Banking (BANK), Information & Communication Technology (ICT), Energy & Utilities (ENERG), Food and Beverage (FOOD), and Commerce (COMM), as these are the top picks of investors.
For more information, please visit www.set.or.th.