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STOCK INVESTMENT

SET daily turnover hits Bt37 bn in August

By The Nation

The Stock Exchange of Thailand witnessed an average daily turnover of Bt36.75 billion in August, up 20.84 per cent on month and 74.57 per cent from the same month last year.

The average daily turnover was the highest since February 2002.

Despite foreigners' net-buyer position in the month, retail investors accounted for 68.19 per cent of total trading volume. Internet transactions also accounted for 26.4 per cent of total turnover, the highest ratio since the Internet facility started.

Yanyong Thaicharoen, director of Stock Exchange of Thailand's Research Institute for Capital Market, said that despite higher transactions from retail investors, there is no sign of bubble. The market's price earning ratio remained low, with the 12-month historical ratio at 14 times, which is below the 15.6 times average in the past 10 years. At the record high Index of 1,700 points, the market's PER was 20 times.

At 913.19 points, the SET Index was the highest in 13 years. This pushed the market capitalisation to Bt7.4 trillion, the highest in the exchange's history. In the month, telecom stocks showed a continued increase in turnover, for four consecutive months.

Listed companies issued equities worth Bt2.65 billion in the month, including an initial public offering of a listed company and a property fund. Fund raising in the first eight month totalled Bt52.5 billion, doubling last year's amount.

-- The Nation 2010-09-08