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SET Market Report For May 2019

Date 10/06/2019

The Stock Exchange of Thailand (SET) Index at the end of May rose 3.6 percent from end-2018 to 1,620.22 points, ranking as the third best performer in ASEAN. However, the index declined 3.2 percent from the end of the previous month. The average daily trading value of SET and Market for Alternative Investment (mai) in May amounted to THB 58.69 billion (approx. USD 1.83 billion), up 40 percent from the previous month. Foreign investors were the net buyers of Thai shares in May.  

SET Senior Executive Vice President Soraphol Tulayasathien said that resulting from the MSCI rebalancing for higher weight of Thai and Chinese stocks in May, foreign and institutional investors adjusted their investment portfolio accordingly. However, key external factor, including the escalation of US-China trade pressured investment sentiment across the globe. As a result, most Asian stock markets declined in May, while SET Index fell down 3.2 percent from the previous month, faring better than most of other Asian markets. 

Key Highlights for May

Securities market:

  • SET Index ended May at 1,620.22 points, rising 3.6 percent from end-2018. Agro & Food, Technology, Resources and Property & Construction industry groups outperformed SET Index.
  • In May, foreign investors bought a net THB 3.75 billion of Thai shares. 
  • The average daily trading value of SET and mai in May rose 40 percent from the preceding month to THB 58.69 billion.
  • Forward and historical P/E ratios of SET were 15.1 times and 17.5 times respectively at the end of May, above the average of the Asian peers of 13.9 and 15.7 times respectively.
  • Dividend yield ratio of SET was 3.23 percent at the end of May, higher than Asian stock markets' average ratio of 2.90 percent.
  • A combined market capitalization of SET and mai at end-May increased by 3.7 percent from end 2018 to THB 16.8 trillion, in line with SET Index.
  • Fund mobilized through IPOs during the first five months of 2019 was THB 7.89 billion.  

Derivatives market:

  • In May, the average derivatives trading volume increased by 36 percent from the previous month to 358,249 contracts per day.