The Stock Exchange of Thailand (SET) Index at the end of June was 9 per cent down on its end-December level, and had fallen 7.6 per cent from May to 1,595.58 points, resulting in a lower overall forward P/E (price/earnings) ratio of 14.57 times, the bourse reported on Monday.
The SET Index’s movement was in a similar direction to other stock exchanges in the region.
The average daily trading value of the SET and the Market for Alternative Investment last month was Bt57.39 billion, some 34.3 per cent higher than in the same period last year, the SET said.
During the first half of 2018, foreign investors sold a net Bt179.84 billion of Thai shares.
The value of their holding slightly declined from around Bt4.85 trillion at the end of last year, and accounted for 29.73 per cent of total market capitalisation, compared to 30.84 per cent on December 31.
SET president Pakorn Peetathawatchai said the SET Index had declined in the same direction as the global market, causing the forward P/E ratio to reduce to 14.57 times, affected by concerns over trade conflicts and monetary-policy manoeuvres of the US central bank. However, the Thai economy still looks promising, driven by internal factors including the government’s accelerated investment and improving private investment, he added.