The Stock Exchange of Thailand (SET) Index ended February at 1,340.52 points, falling 11.5 percent from the previous month, while the average daily trading value of SET and Market for Alternative Investment (mai) in February rose 23.8 percent from the 2019average to THB 65.86 billion (approx. USD 2.09 billion). Foreign investors sold a net THB 19.40 billion worth of Thai shares, trending in the same direction with most ASEAN markets.
SET Senior Executive Vice President Soraphol Tulayasathien said that the Thai bourse in February had a steep fall impacted by Covid-19outbreak, as happened in other global stock markets. Despite the sudden impact, particularly in tourism sector, Thai listed companies was able to manage the crisis, according to the SET special CEO survey conducted in early March, by operating flexibility and innovation via online digital channels such as marketing activities, conferences, seminars, product launch including allocating domestic raw materials instead of having to wait for overseas sources.
Key highlights for February
- SET Index closed at 1,340.52 points at end-February, down 15.1 percent from end-2019 and 11.5% from the previous month. Agro & Food industry, Consumer products and Technology industry groups outpaced SET Index.
- In February, foreign investors sold a net THB 19.40 billion.
- The average daily trading value of SET and mai in February stood at THB 65.86 billion, a 23.8 percent rise from the average in 2019.
- Forward P/E ratio of SET was 14.1 times at the end of February, while historical P/E ratio was 15.7 times, above the average of the Asian markets at 12.6 times and 14.8 times, respectively.
- Dividend yield ratio of SET was 3.9 percent at end-February, above Asian stock markets' average ratio of 3.0 percent.
- The combined market capitalization of SET and mai at end-February was THB 14.6 trillion, down 13.9 percent from end-2019.
- In February, the fund-raising from Thailand's initial public offering (IPO) amounted to THB 55.90 billion, while the secondary public offering (SPO) was THB 1.79 billion.
- In February, the average derivatives trading volume was 538,565 contracts per day, a 11.6 percent rise from the preceding month.