The Stock Exchange of Thailand (SET) has just released its April 2016 trading report, after the Bangkok-headquartered bourse saw its index hit a 2016 record of 1,423.90 earlier last month, and driven by an increase in global commodities prices including in crude oil, yet ended the month lower which pushed volumes down from the spike observed in March‘s totals.
While the SET index pulled back from its April peak at the end of the month to close at 1404.61, it was still up over 9% through the end of April and outperforming peers in the region, as per the announcement.
However, SET was lower by two-tenths of a percent at the end of April – when compared to the prior month – and the decline was blamed on a lack of stimulus that markets had expected from the Bank of Japan (BoJ) and European Central Bank (ECB). Earlier this Wednesday morning in Asia, SET’s main index opened up .25% at 1,393 and was still off last month’s high, as the second week of May is underway.
Commodities and stronger Thai baht
The SET April report noted that the index outperformed other indices in the region, especially in SET’s commodity-related sectors and helped by a stronger Thai Baht (THB).
The Thai Bourse reported that SET derivatives trading volumes reached 185,463 contracts in April, higher by 8.08% compared to April 2015 on a year-over-year basis, yet were down from 261,629 reported in the prior month – after March had jumped over 30% over February’s totals.
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In addition, foreign investors bought 12.7 billion shares so far this year on the SET, yet were net-sellers in April at 5.7 billion BHT worth of trading and which added to the slight dip compared to March as investors unloaded some of their positions.
Securities’ volumes dipped
Market Capitalization of SET listed companies including its Market for Alternative Investment (MAI) totaled 13.7 trillion THB or $387.18 billion according to the update. SET average daily trading value of the combined venues was 43.71 billion BHT or $1.23 billion and higher by 3% compared to the same month last year, yet fell 16.84% compared to the prior month.
The market cap total’s for April was 8.7% higher from the end of 2015, indicating the year-to-date increase through end of April, despite the 0.2% decline month-over-month. The forward price earnings (P/E) ratio of SET was just over 15 times, while its MAI venue had a forward P/E ratio of 24.78 times earnings, according to the report. Conversely, dividend yield ratio of SET at the end of April was 3.35% while on MAI it was reported as 1.36% over the same period.
SET launched its technology startup learning initiative for small to medium size businesses starting April 24, as the exchange operator aims to enhance the local fintech community while finding potential synergies.