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SET Market Report For November 2018

Date 07/12/2018

The Stock Exchange of Thailand (SET) Index at the end of November dropped 1.6 percent from the previous month and 6.4 percent from end-2017 to 1,641.80 points, falling at a slower pace than most Asian bourses. The average daily trading value of SET and Market for Alternative Investment (mai) in November amounted to THB 41.6 billion (approximately USD 1.3 billion), down 29.4 percent from the same period a year earlier. Local institutional and proprietary traders were net buyers in November.

SET Senior Executive Vice President Soraphol Tulayasathien said that SET Index in November decreased from the previous month, weighed by the sharp slump in oil price coupled with the US-China trade tension which affected technology stocks worldwide. Despite the external threats, the Thai economic fundamental remained solid as witnessed by the continuous growth in domestic consumption and investment in the July-to-September quarter. SET Index at end-November fell from end-2017, though at a slower pace than most Asian markets, while the year-on-year decline in the Thai bourse's average daily trading value was in tandem with most ASEAN markets.  

Key highlights for November

Securities market:

  • SET Index ended November at 1,641.80 points, down 1.6 percent from the previous month and 6.4 percent from end-2017. Resources and Financials industry groups outperformed SET Index. In November, foreign investors sold a net THB 13.88 billion of Thai shares.
  • Forward P/E ratio of SET was 15.23 times at end-November, while historical P/E ratio was 15.55 times, exceeding the average of the Asian peers at 13.59 times and 14.47 times, respectively.
  • Dividend yield ratio of SET was 3.18 percent at end-November, above Asian stock markets' average ratio of 3.01 percent.
  • A combined market capitalization of SET and mai at end-November was THB 16.8 trillion, down 5 percent from the end of 2017, moving in line with SET Index.
  • The average daily trading value of SET and mai in November was THB 41.59 billion, sliding 29.4 percent from the same period a year earlier.

Derivatives market:

  • In November, the average derivatives trading volume dipped 26.5 percent from the previous month to 279,146 contracts per day, due to the decline in transactions across all products.