ASEAN KEY DESTINATIONS
Thai bourse market report for November
Daily average trading value down 10 pct month-on-month to USD1.09 bln
Market cap at THB 12.02 trillion, up 1.62 pct from end-2012
Derivatives trading falls 20 pct month-on-month to 50,713 contracts per day
The Stock Exchange of Thailand's (SET) securities trading value in November decreased from the previous month as uncertainties of U.S. monetary policy continuously undermined investment mood, especially in Thailand, Indonesia, and the Philippines, while the Thai market was also hit by domestic political uncertainties.
The SET main index ended November at 1,371.13 points, down 1.49 percent from the end of last year, and down 4.97 percent from October. Foreign investors remained net sellers worth USD 4.9 billion in the first eleven months.
The combined average daily trading value of SET and Market for Alternative Investment (mai) was at THB 35.03 billion (approx. USD 1.09 billion), down 10.37 percent from October, and down 2.53 percent from a year earlier. In the first eleven months, the average trading value expanded 63.6 percent to THB 52.05 billion from a year earlier.
Daily trading volume of derivatives dropped 20.1 percent from a month ago to 50,713 contracts per day.
Key highlights for November
- SET’s market capitalization was at THB 12.02 trillion (USD 375.71 billion), up 1.62 percent from the end of last year but down 4.54 percent from the past month, while market valuation of mai was at THB 183 billion (USD 5.71 billion), down 3.46 percent from the previous month, and up 37.37 percent from end-2012.
- The forward P/E ratio for SET was at 14.20 times, still higher than the average forward P/E of 13.75 times for the region, but down from 14.67 times in the previous month. mai's forward P/E ratio was at 20.52 times, up from 20.50 times in October.
- The average dividend yield of SET was at 3.17 percent, and mai’s yield was at 1.75 percent.
- Foreign investors were net sellers in November, selling a net USD 1.52 billion. Since the start of this year, they have sold a net USD 4.9 billion.
- Listed companies raised funds through equity worth a combined THB 30.18 billion (USD 943 million) in November. Of that, THB 7.63 billion (USD 239 million) was from initial public offerings, and THB 22.54 billion (USD 704 million) was from secondary equity offerings. In the first eleven months of this year, a total of THB 249 billion (USD 7.79 billion) was raised through the Thai stock market, up 73 percent from a year earlier.
- Derivatives trading volume fell 20.10 percent from a month earlier, to an average of 50,713 contracts per day. In the first eleven months, average daily trading volume was at 68,919 contracts, up 57.38 percent from a year earlier, mainly boosted by single stock futures and SET50 Index futures
- Single stock futures had an average trading volume of 27,457 contracts per day throughout November, while SET50 Index futures had an average trading volume of 17,065 contracts per day.
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