ASEAN KEY DESTINATIONS
Thai bourse market report for July 2015
- Average daily securities trading value down 4.79 pct m-o-m to USD 1.14 bln
- Market cap at USD 411.5 bln
- Derivatives trading dropped slightly m-o-m to 198,396 contracts per day
- Foreign investors sold a net USD 780.6 mln in July
BANGKOK, August 11, 2015 – The Stock Exchange of Thailand (SET) main index ended July at 1,440.12 with 4.3 percent drop from end-June, or down 3.8 percent from a year earlier, while foreign investors were sellers in the equity market worth a net THB 26.46 billion (approx. USD 780.6 million).
Investor sentiment was hit by fears that the Federal Reserve might raise interest rates sooner than expected, as well as the volatility of China’s stock market with the index losing more than 30 percent since end-June, spurring outflow from Asian markets. Likewise, the capital outflow of Thailand’ bourse was in the same manner as other Asian markets, especially Taiwan and South Korea.
The combined market capitalization of the SET’s main board and the Market for Alternative Investment (mai) was at THB 13.95 trillion (USD 411.5 billion) at the end of July. The average daily securities trading value of the SET’s main board and mai in July dropped 4.79 percent to THB 38.69 billion (USD 1.14 billion) from end of June, or a 26.7 percent drop from end of 2014.
Key highlights for July
- Market capitalization of SET was at THB 13.58 trillion (USD 400.6 billion) at the end of July, a 1.99 percent drop from end-2014, while market valuation of mai was at THB 369.9 billion (USD 10.9 billion), down 3.45 percent from the end of 2014.
- Forward P/E ratio for SET was at 14.97 times, while mai's was at 29.04 times.
- Dividend yield for SET was at 3.11 percent, while mai's was 1.10 percent.
- Foreign investors were net sellers in the equity market, worth a net THB 26.46 billion (USD 780.6 million), while domestic institutional investors’ net bought was worth THB 9.1 billion (USD 268.3 million).
- Listed companies on SET and mai raised funds through equity worth a combined THB 25.3 billion (USD 746.17 million) in July, of which THB 23.3 billion was raised from initial public offerings and THB 1.9 billion from the secondary market. Total fundraising in the past seven months was at THB 197.3 billion, a 116.3 percent jump from a year earlier, mostly due to an increase in IPOs.
- Derivatives daily trading volume dropped slightly from a month ago to an average of 198,396 contracts per day. The derivatives daily trading volume in the past seven months rose 31.75 percent from end of 2014, mainly from the increase of single stock futures.
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