SET market report for January 2019

Stocks and Financial Services Press Releases Wednesday February 6, 2019 12:52
Bangkok--6 Feb--SET

The Stock Exchange of Thailand (SET) Index at the end of January gained 5 percent from end-2018 to 1,641.73 points, moving in the same direction as other Asian stock markets. The average daily trading value of SET and Market for Alternative Investment (mai) in the first month of 2019 was THB 48.58 billion (approx. USD 1.52 billion), jumping 15.5 percent from the previous month. Local institutional and foreign investors were net buyers in January.

SET Senior Executive Vice President Soraphol Tulayasathien said that progress in the US-China trade negotiation was the major contributor to the rise in the Thai bourse in January compared to the end of 2018, while the marginally increase in oil price and the clarity on Thailand's election date also boosted the sentiment. Foreign investors' net buying of Thai equities was similar to most of Asian stocks. In addition, the average daily trading value in January rose from the previous month in line with most of ASEAN peers, while the higher investment in equity funds, particularly in saving funds with non-tax benefits, greatly contributed to the Thai capital market.

Key highlights for January
Securities market:
  • SET Index ended January at 1,641.73 points, a 5 percent rise from end-2018. Agro & Food, Resources, Property & Construction, and Services industry groups outperformed SET Index.
  • In January, foreign investors bought a net THB 6.58 billion of Thai shares, in tandem with most of Asian bourses.
  • The average daily trading value of SET and mai in January amounted to THB 48.58 billion, rising 15.5 percent from the previous month, mainly contributed by foreign investors. January's turnover was in line with most of those in other ASEAN markets.
  • Forward P/E ratio of SET was 14.63 times at end-January, while historical P/E ratio was 15.56 times, higher than the average of the Asian peers at 13.30 times and 14.84 times, respectively.
  • Dividend yield ratio of SET was 3.17 percent at end-January, higher than Asian stock markets' average ratio of 2.88 percent.
  • A combined market capitalization of SET and mai at end-January rose 5 percent from end-2018 to THB 17 trillion, tracking SET Index.
  • The combined market value of new IPOs in January was the highest in ASEAN, at THB 4.92 billion.
Derivatives market:
  • In January, the average derivatives trading volume dropped by 28.7 percent from the end of 2018 to 346,531 contracts per day, stemmed from the decline in trading volume of most derivatives products.
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