April SET index surges to 2nd highest level in Asia

BANGKOK, May 12 – The Stock Exchange of Thailand (SET) composite index surged to the second highest level in Asia after South Korea’s KOSPI composite index in April, according to an SET report.

As of the end of April, the SET index increased for the third consecutive month by 4.40 per cent from the previous month to 1,093 points, representing a rise of 5.89 per cent from the end of last year.

The continued rally stemmed partly from foreign net buying in the Thai bourse and other key stock markets in Asia.

The index rise pushed up the SET market capitalisation to Bt8.86 trillion and the forward price/earnings ratio to 12.85 times.

SET continued to offer the highest dividend yield in the region at 3.53 per cent. The combined daily trading value of SET and the Market for Alternative Market in April totaled Bt36.02 billion, up 44.45 per cent from the same month last year.

The daily turnover of the derivative market was also high with the average trading volume of 30,569 contracts.

In April, the SET index rose in tandem with most stock markets in the region partly because foreign investors shifted its focus on investment to countries with sound economic fundamentals from those with higher economic risks such as the European countries with high public debts and the United States and Japan whose credit positions were downgraded by Standard & Poor’s.

The SET index surged on Wednesday by 14.92 or 1.37 per cent to 1,100.48 points in trade valued at Bt46.59 billion.
MCOT