In January 2024, the Stock Exchange of Thailand reported that there was a decrease in investments in the Thai stock market due to lower-than-expected economic expansion in the 4th quarter of 2023.
This led to reduced profit forecasts for listed companies in 2023. Foreign capital inflows have only occurred in years with raised profit estimates. Despite the outflow of foreign capital, the value of foreign stock holdings relative to market capitalization remains close to historical averages. The Price to Book (P/B) ratio of the SET Index is still low, while SET’s dividend yield increased to 3.24%.
Thai stock market situation
- At the end of January 2024, the SET Index closed at 1,364.52 points, down 3.6% from the previous month. with returns similar to the regional average
- In January 2024, industry groups that improved better than the SET Index compared to the end of 2023 included: Consumer product group, Resource Group, Service Group, Agriculture and Food Group, and Technology Group.
- In January 2024, the average daily trading value in SET and mai was 47,111 million baht, down 6% from the same period last year. Foreign investors returned to net selling after net buying in the previous month. In January 2024, foreign investors sold a net amount of 30,870 million baht, with foreign investors accounting for the highest proportion of trading value for the 21st consecutive month.
- In January 2024, there was 1 new listed company trading on the SET, namely Advice IT Infinite Public Company Limited (ADVICE).
- The Forward P/E of the Thai Stock Exchange at the end of January 2024 was at 5 times, higher than the average of Asian stock exchanges which was 12.9 times, and the Historical P/E was 16.7 times, higher than the average of Asian stock exchanges which was 16.7 times. It is at the level of 14.7 times.
- The dividend yield at the end of January 2024 was 24%, lower than the Asian stock market average of 3.31%.
Futures market conditions
- In January 2024, the Futures Exchange (TFEX) had an average daily trading volume of 404,435 contracts, a decrease of 17.3% from the previous month, mainly due to a decrease in Single Stock Futures and SET50 Index Futures.
Source : สรุปภาพรวมภาวะตลาดหลักทรัพย์เดือนเดือนมกราคม 2567 – ตลาดหลักทรัพย์แห่งประเทศไทย (set.or.th)
