SET market report for January 2020

Stocks and Financial Services Press Releases Wednesday February 5, 2020 14:46
Bangkok--5 Feb--SET Corporate Communications

The Stock Exchange of Thailand (SET) Index at the end of January fell 4.2 percent from end-2019 to 1,514.14 points, while the average daily trading value of SET and Market for Alternative Investment (mai) in the first month of 2020 surged 18.4 percent from the average in 2019 to THB 62.99 billion (approx. USD 2.03 billion). Foreign investors cashed out a net THB 17.23 billion worth of Thai shares, the same direction as in most ASEAN markets.

SET Senior Executive Vice President Soraphol Tulayasathien said that the Thai stock market in January faced a string of negative factors, particularly the unprecedented coronavirus spread which affected the global stock markets. The contagious virus epidemic control is likely to improve, thanks to effective remedies, strict measures and cooperation of the governments of China, Thailand and other countries. Despite the abrupt impact on the economy in January, the Thai economy will continue to move forward in the long run driven by other engines such as private consumption, exports during periods of slightly softening baht, and public investment especially the carry-forward transportation projects.

Key highlights for January
Securities market:
  • SET Index ended January at 1,514.14 points, down 4.2 percent from end-2019. Agro & Food industry, Resources and Consumer products industry groups outperformed SET Index.
  • In January, foreign investors were net sellers of THB 17.23 billion.
  • The average daily trading value of SET and mai in January was THB 62.99 billion, soaring 18.4 percent from the average in 2019.
  • Forward P/E ratio of SET was 15.2 times at end-January, while historical P/E ratio was 18.4 times, higher than the average of the Asian markets at 12.9 times and 15.4 times, respectively.
  • Dividend yield ratio of SET was 3.4 percent at the end of January, exceeding Asian stock markets' average ratio of 2.9 percent.
  • A combined market capitalization of SET and mai at end-January amounted to THB 16.2 trillion, down 4.1 percent from end-2019.
  • In January, the first fundraising of the year via initial public offering (IPO) was THB 225 million and via secondary public offerings (SPOs) totaled THB 8.6 billion.
Derivatives market: