ASEAN KEY DESTINATIONS
Thai bourse market report for December 2013
- Daily average trading volume down 26 pct month-on-month to USD 867 mln
- Market cap at THB 11.50 trillion, down 2.83 pct from end-2012
- Derivatives trading up 11.7 pct month-on-month at 56,642 contracts per day
The Stock Exchange of Thailand (SET) securities trading volume in December, 2013 dropped 25.5 percent from a month ago as market sentiment was undermined by domestic political unrest, although the economic recovery of the U.S., Japan, and European countries drew investors back to those stock markets.
The SET main index ended December at 1,298.71 points, down 6.70 percent in 2013. However, the index hit the highest level at 1,643.43 (on May 21, 2013) in 20 years and made a record high of average daily trading value since the market established at THB 51 billion (USD1.6 billion) for the whole year. Foreign investors were net sellers of Thai shares worth USD 5.9 billion in 2013.
Combined average daily trading volume of SET and Market for Alternative Investment (mai) was at THB 28.6 billion (approx. USD 867 million), or down 25.5 percent from a month ago, while daily trading volume of derivatives rose 11.7 percent from a month ago at 56,642 contracts per day.
Key highlights for December
- Market capitalization of the SET was at THB 11.5 trillion (USD 348.4 billion), down 2.83 percent from the end of 2012, while market valuation of the mai was at THB 177.37 billion (USD 5.37 billion), up 33.34 percent.
- The forward P/E ratio for the SET was at 13.36 times, down from 15.55 a year ago, but higher than the average of 13.62 times in the region, while mai's forward P/E ratio increased to 21.24 times from 15.60 a year ago.
- The dividend yield of the SET was at 3.42 percent at the end of December, while mai's was at 1.80 percent.
- In 2013, average daily trading value rose to an all-time high of THB51 billion (USD1.6 billion).
- Foreign investors were net sellers, selling Thai shares worth a net USD 1.24 billion in December. They sold a net THB194.7 billion for the whole of 2013, especially throughout the last three quarters of 2013, while retail and institutional investors were net buyers.
- Listed companies raised funds through equity worth a combined THB 339.9 billion in 2013, up 31.7 percent in 2012. Of that, THB 191.6 billion was raised from initial public offerings (IPOs) of 31 companies and seven property funds, and THB 148.3 billion was raised from the secondary market.
-Derivatives trading volume rose 11.7 percent in December from a month earlier to an average of 56,642 contracts per day. For the whole of 2013, trading volume rose 55.21 percent to an all-time high of 68,017 contracts per day on average, mostly due to rises of single stock futures and SET50 index futures.
- Single stock futures traded a total of 34,351 contracts per day on average, while SET50 index futures traded a total of 23,218 contracts per day.
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