SET Market Report for February 2019 - The Industry Spread


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SET Market Report for February 2019

March 11, 2019

SET LogoSET Market Report, The Stock Exchange of Thailand (SET) Index at the end of February rosed 5.7 percent from end-2018 to 1,653.48 points, in tandem with other Asian bourses. The average daily trading value of SET and Market for Alternative Investment (mai) in February amounted to THB 46.77 billion (approx. USD 1.46 billion), down 3.7 percent from the previous month. Local institutional investors and proprietary traders were net buyers in February.

SET Senior Executive Vice President Soraphol Tulayasathien said that SET Index managed its stability carrying on from the previous month. Foreign investors were net buyers at the beginning of February boosted by the progress of trade talks between the U.S. and China, then seemed to wait-and-see considering the upcoming election season.

The average daily trading value of SET and mai in February was the highest in the region though it fell marginally from the preceding month. The fund raised in the Thai stock market through initial public offerings (IPOs) during the first two months of this year was also the highest in ASEAN. In March, foreign and institutional investors could raise attractiveness weighting of Thai shares as more large and mid-cap Thai shares have been added into FTSE Global Equity Index Series, added Soraphol.

Key highlights for February

Securities market:

– SET Index ended February at 1,653.48 points, gaining 5.7 percent from end-2018. Agro & Food, Technology, Resources and Property & Construction industry groups outperformed SET Index.

– In February, foreign investors pulled out a net sum of THB 3.5 billion, while local institutional investors’ buying streak has been extended since last year.

-The average daily trading value of SET and mai in February dropped 3.7 percent from the previous month to THB 46.77 billion.

– Forward and historical P/E ratios of SET were 15.00 times and 17.00 times, respectively, at end-February, above the average of the Asian peers at 13.76 times and 15.56 times, respectively.

– Dividend yield ratio of SET was 3.11 percent at the end of February, higher  than Asian stock markets’ average ratio of 2.80 percent.

– A combined market capitalization of SET and mai at end-February rose 5.9  percent from end-2018 to THB 17.2 trillion, in line with SET Index.

– Fund mobilized through IPOs during the first two months of this year was THB  5.68 billion, the highest in ASEAN.

Derivatives market:
– In February, the average derivatives trading volume dropped by 10.9 percent  from the previous month to 308,876 contracts per day, weighed largely by the decline in trading volume of SET50 Index Futures and SET50 Index Options.

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