SET market report for September 2021

Thursday 07 October 2021 15:55
In September 2021, the Monetary Policy Committee (MPC) estimated that the Thai economic outlook in 2021 and 2022 would be close to the previous forecast. The economy was expected to benefit from increasing vaccination distribution and the faster-than-expected relaxation of the disease control measures. Uncertainties surrounding investors in stock exchanges globally were the possibility that the Federal Reserve (Fed) may end its quantitative easing policy sooner and the downward revision of the Chinese economic growth forecast for this year and the period ahead after the Chinese government imposed measures to control the property and technology sectors. However, Thai listed companies were strong and steadily recovered.
SET market report for September 2021

The Stock Exchange of Thailand (SET) Senior Vice President Soraphol Tulayasathien said that at end-September the SET Index closed at 1,605.68 points, a 2.0 percent decrease from the previous month. If compared to the end of 2020, it gained 10.8 percent, outpacing the average of other regional peers. The industry groups that outperformed the SET Index, in comparison with year-end 2020, were Industrials, Technology, Agro & Food Industry and Services.

Key highlights for September

  • The SET Index ended September at 1,605.68 points, down 2.0 percent from the previous month, but up 10.8 percent from year-end 2020, surpassing other regional peers.
  • In comparison to end-2020, the SET Index in September was propelled by almost all industry groups, with Industrials, Technology, Agro & Food Industry and Services industry groups outperforming the benchmark index.
  • In September, the average daily trading value of SET and Market for Alternative Investment (mai) increased by 110.5 percent from a year earlier to THB 100.83 billion. The daily trading value for the first nine months averaged THB 96.46 billion.
  • Foreign investors were net buyers for the second consecutive month in September with a net THB 10.80 billion. However, they were net sellers of THB 79.17 billion for the January-September period. Local investors were net buyers of THB 105.75 billion. Since the COVID-19 pandemic started in February 2020, local investors have continuously dominated the trading value.
  • In September, IPO activities continued with two new listings on SET and another two on mai. During the first nine months of this year, the offering size via IPOs listed on the Thai bourse outpaced ASEAN markets.
  • SET's forward and historical P/E ratios were 18.9 times and 19.8 times respectively at end-September, exceeding the average ratios of Asian markets at 14.9 times and 17.8 times respectively.
  • The dividend yield ratio of SET was 2.74 percent at end-September, above Asian stock markets' average ratio of 2.47 percent.

Derivatives market

  • In September, the derivatives trading volume averaged 679,223 contracts per day, a 43.6 percent surge from the preceding month. During the first nine months of 2021, the average daily trading volume was at 550,194 contracts, an 18.0 percent rise from the same period a year earlier, mainly driven by trading in Single Stock Futures, Gold online futures and USD Futures.

Source: The Stock Exchange of Thailand

SET market report for September 2021