More Thai stocks join FTSE/Asean 40
Three stocks - Siam Commercial Bank, Thai Petrochemical Industry, and Krung Thai Bank have been added to the FTSE/Asean 40 Index, increasing the local stock market's investment weighting in the index to 15.35 per cent.
The additions bring to nine the number of Thai stocks on the index."Six Thai stocks have been in the calculation of the FTSE/Asean 40 Index since its inauguration, while the remaining 34 stocks come from bourses in Malaysia, Indonesia, the Philippines and Singapore," said Sethaput Suthiwart-Narueput, senior vice president of the SET. The FTSE/Asean 40 Index consists of the 40 largest com-panies, by market capitali- sation, from Asean stock markets. The first six Thai stocks are PTT, PTT Explora-tion and Production, Bangkok Bank, Kasikornbank, Advanced Info Service Plc, and Siam Cement. The index was launched on September 21, 2005 and its index has risen by 21.5 per cent from 5,252.20 points at its inception to 6,381.15 points on April 21. To be eligible for the FTSE/Asean 40 index's calculation, stocks must have at least US$100 million (Bt3.8 billion) in market capitalisation and daily turnover must involve at least 20 per cent of the company's total shares. The index is reviewed once a year in March. At the end of March 2006, 12 Malaysian stocks were included in the index, down from 14 in September 2005. Singapore has 11 stocks, Indonesia seven and the Philippines, one.
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