2024-01-11 12:57:03
Stock dimension – at the end of the year 2023 after the direction of global inflation has decreased. and various important central banks In many countries, there is a clearer stance on monetary policy easing. together with the US economy May not enter a severe recession. Investors then move their funds to risky assets such as Bitcoin and stock markets in many countries. and high-yield bonds. However, in 2023, even though the Thai stock market will have lower returns than the stock markets in many countries, which will benefit from capital inflows from the trend of falling bond yields and the weakening of the dollar. But if looking back in 2022, the SET Index is one of only a few indexes in the world that has produced positive returns. And if you consider the period 2022-2023, you will see that the SET Index moves similarly to other indices in the region.
Mr. Sornphon Tulyasathien, Deputy Manager, Head of Corporate Strategic Planning Division The Stock Exchange of Thailand revealed that in 2024 there is a chance that investment funds will move to stock markets in the ASEAN region, especially the Thai stock market. Note that the baht tends to strengthen in the medium term. In addition, it is estimated that the Thai economy in 2024 will expand higher than expected. This follows the recovery of the tourism sector, exports, and domestic consumption. In addition, analysts have adjusted their forecasts for earnings per share growth (EPS Growth) and Forward P/E in 2024 of SET to an interesting point. in investing more than in the previous year. While there are many industries in the SET that have high EPS growth forecasts, their valuations are still below historical averages.
Thai stock market situation
- At the end of December 2023, the SET Index closed at 1,415.85 points, an increase of 2.6% from the previous month, and a decrease of 15.2% compared to the end of the previous year.
- In December 2023, the industry groups that performed better than the SET Index compared to the end of 2022 included the technology group, financial group, and agriculture and food group. and consumer product groups
- In December 2023, the average daily trading value in SET and mai was 39,980 million baht, a decrease of 28.8% from the same period last year. The average daily trading value in 2023 was 53,331 million baht. However, foreign investors returned. Came to buy net for the first month after selling net for ten consecutive months. In December 2023, foreign investors made net purchases of 70 million baht, making in 2023 foreign investors net sales of 192,083 million baht, with foreign investors accounting for the highest proportion of trading value for the 20th month in a row.
- In December 2023, there were 2 newly listed companies trading in the SET, namely Asia Network International Public Company Limited (ANI) and SCG Decor Public Company Limited (SCGD), and in mai 1 securities, namely Miss Public Company Limited. Grand International (MGI)
- The Thai Stock Exchange’s Forward P/E at the end of December 2023 was at 16.7 times, higher than the average of Asian stock exchanges which was 13.4 times and Historical P/E was 19.4 times, higher than the average of Asian stock exchanges which was 19.4 times. It is at the level of 15.0 times.
- The dividend yield at the end of December 2023 was 3.21%, lower than the Asian stock market average of 3.28%.
Futures market conditions
- In 2023, the futures exchange market (TFEX) had an average daily trading volume of 532,886 contracts, a decrease of 5.8% from the previous year, mainly from a decrease in Single Stock Futures, while the average daily trading volume of SET50 Index Futures increased. increased from last year
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