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SET Market Report For March 2018

Date 09/04/2018

The Stock Exchange of Thailand (SET) Index at the end of March rose 1.3 percent from end-2017 but fell 2.9 percent from the previous month to 1,776.26 points, same downtrend direction as the overall regional markets. The average daily trading value of SET and Market for Alternative Investment (mai) in March was up 53.8 percent year-on-year to THB 66.4 billion (USD 2.08 billion).

SET Senior Executive Vice President Pakorn Peetathawatchai said that SET Index declined in March, weighed by a 6.2 percent drop from previous month in large-cap energy and utilities, and banking shares as factors, such as concerns over the ex-refinery price structure revamp and scrapped banking transaction fee, and anxiety over US trade policy dampened the overall market sentiment, among other factors. The average daily trading value or SET and mai during the first quarter surged by about 40 percent to THB 71.18 billion compared to the same period last year.   

Key highlights for March

Securities:

  • In March, foreign investors sold a net THB 11.2 billion of Thai shares, in line with almost all stock markets across the region and the Thai bond market’s movement.
  • SET Index ended March at 1,776.26 points, up 1.3 percent from end-2017. Three industry groups that outperformed SET Index were Resources, Industrials and Services, in descending order.
  • Forward P/E ratio of SET was 16.01 times at end-March, while historical P/E ratio was 18.29 times, comparing with the average ratio of its Asian peers at 14.55 times and 17.17 times, respectively.
  • Dividend yield ratio of SET was 2.88 percent at end-March, above Asian stock markets' average ratio of 2.48 percent.
  • A combined market capitalization of SET and mai at end-March amounted to THB 18.1 trillion, up 1.2 percent from the end of 2017.
  • The average daily trading value of SET and mai in March was THB 66.4 billion, up 53.8 percent from the same period a year earlier.

Derivatives:

  • In March, the average derivatives trading volume soared by 19.75 percent from the previous month to 519,242 contracts per day, driven by the increase in transactions of Single Stock Futures and SET50 Index Futures.