SET News 2/2018 January 5, 2018 SET market report for December 20 BANGKOK, January 5, 2018 - The Stock Exchange of Thailand (SET) Index ended 20 at 1,753.71 points the year s closing high, up 13.7 percent from end-2016, while a combined market capitalization of SET and Marker for Alternative Investment (mai) hit the fresh record high at THB.9 trillion (USD 542.4 billion), up 15.6 percent from end-2016. The average daily trading value of SET and mai in 20 decreased by 4.6 percent to THB 50.1 billion. SET Senior Executive Vice President Pakorn Peetathawatchai stated the Thai stock market s highlights in 20 were as follows: SET index ended 20 at the year s highest closing and just only less than one point behind the previous record closing high on January 4, 1994 (1,753.73 points). The combined market capitalization of SET and mai hit the new record at THB.9 trillion at end-20. Foreign investors played an increasing role in boosting trading liquidity to the Thai stock market. Their average daily trading value last year accounted for 30.2 percent, up from 25.6 percent in the previous year. Key highlights for December Securities: In December, domestic institutional investors were major buyer in Thai shares, buying a net THB 104.67 billion, while foreign investors sold a net THB 9.04 billion. In 20, foreign investors were net sellers at THB 26.1 billion, while being on buying spree in Thai bonds. SET index ended December at 1,753.71 points, up 13.7 percent from end-2016. Three industry groups that outperformed SET Index in 20 were Industrials, followed by Services and Resources. Forward P/E ratio of SET was.46 times at end-december, while historical P/E ratio stood at 19.06 times. Both forward and historical P/E ratios of the Thai stock market were higher than the average ratio of its Asian peers at 16.10 times and 16.24 times, respectively. Dividend yield ratio of SET was 2.81 percent at end-december, above Asian stock markets' average ratio of 2.47 percent. A combined market capitalization of SET and mai at end-december was THB.9 trillion, rising 15.6 percent from the end of 2016. The average daily trading value of SET and mai in December amounted to THB 51.5 billion, up 18.1 percent from the same period a year earlier, whereas the average daily trading value of both SET and mai in 20 decreased by 4.6 percent to THB 50.1 billion. 1/2
Derivatives: In December, the average derivatives trading volume surged by 51.1 percent year-onyear to 391,640 contracts per day, largely driven by the increase in transactions of Single Stock Futures. From Jan - Dec 20, the average daily trading volume also rose by 13.6 percent compared to the previous year to 324,2 contracts a day. SET Make it Work for Everyone Members of the media please contact the Media Relations Unit, Corporate Communications Dept.: Darawan Maleesri tel: +66 (0) 2009 9484 / Arada Kultawanich tel: +66 (0) 2009 9483 / Kanokwan Khemmalai tel: +66 (0) 2009 9478. 2/2
SET Market Report for December 20 8 January 2018 ส าหร บการประช มคณะกรรมการ Agenda SET in the regional context Market Activities 2
SET in the regional context Foreign net trading value into regional stock markets Unit: million USD, Data as of Dec 29, 20 Netbuy / sell Yearly 6 months Quarterly Monthly 2015 2016 20 H1/ H2/ 1/20 2/20 3/20 4/20 20 Oct Nov Dec THAILAND -4,372 2,240-796 393-1,189 185 208-113 -1,075-220 -581-274 INDONESIA -1,580 1,259-2,960 1,304-4,264 626 677-2,110-2,154-459 -1,376-319 PHILIPPINES -1,194 83 1,095 408 687-349 757 658 29 2-28 55 VIETNAM 100-345 1,163 406 757 154 252 219 538 7 459 72 TAIWAN 3,384 10,956 6,489 9,412-2,922 5,970 3,443-2,200-722 1,724-1,351-1,095 INDIA 3,274 2,903 8,108 8,506-398 6,699 1,808-3,000 2,602 296 3,045-739 KOREA -3,580 10,480 8,267 9,011-743 4,766 4,246-2,777 2,034 2,711 418-1,097 Source: Bloomberg Note: exclude mai 3 SET in the regional context Foreign net flow into Thai bond and equity markets Unit: net flow (billion THB); Data as of Dec 29, 20 Net flow Yearly Quarterly Monthly 2015 2016 20 1/20 2/20 3/20 4/20 20 Oct Nov Dec 1.Government bond (LB+TB) -71.8 16.4 113.1 51.0 44.6 33.8-16.3 0.9-9.2-8.0 2.Central bank bond -40.4 46.8 104.1 11.6-18.6 58.3 52.8-11.7 41.8 22.7 3.Equity -155.6 78.5-26.0 6.4 6.7-4.1-34.9-7.1-18.8-9.0 Total(1+2+3) -267.8 141.7 191.2 69.0 32.7 88.0 1.6 -.9 13.8 5.7 THB/USD (average) 34.25 35.28 33.92 35.12 34.30 33.37 32.92 33.23 32.92 32.63 THB/USD (end of period) 36.03 35.83 32.57 34.35 33.93 33.31 32.57 33.22 32.64 32.57 Sources: SETSMART, Thai BMA and BOT 4
SET in the regional context Stock index change (%YTD) Unit: percent; (end of Dec 2016 Dec 29, 20) USD Local currency 37.2 20.9 25.1 25.6 27.9 23.4 29.9 21.8 21.8 24.0 25.1 19.6 9.4 13.7 15.0 18.1 19.1 20.0 36.2 34.3 34.3 35.0 36.0 27.9 48.4 48.0 Malaysia Thailand Taiwan Singapore Japan Indonesia Korea China Philippines India MSCI EM Hong Kong Vietnam Stock index change (%MTD) Unit: percent; (end of Nov 20 Dec 29, 20) USD Local currency 2.0 2.5 3.9 3.5 3.4 3.7 4.4 5.4 6.4 6.8 2.5 2.7 3.3 3.4 3.6 3.7 4.6 1.1 0.0 0.1 0.2 2.1 0.6 0.8-0.9-0.4 Singapore Korea Japan China Taiwan Hong Kong India Thailand MSCI EM Vietnam Philippines Malaysia Indonesia Source: Bloomberg; * MSCI EM = MSCI Emerging Markets Index 5 SET in the regional context Stock index movement (in local currency) Data as of Dec 29, 20; rebased end-2016 = 100 150 140 130 120 110 100 90 31-Dec-16 31-Jan- 28-Feb- 31-Mar- 30-Apr- 31-May- 30-Jun- 31-Jul- 31-Aug- 30-Sep- 31-Oct- 30-Nov- 29-Dec- Vietnam Philippines Singapore Indonesia Thailand Malaysia 150 140 130 120 110 100 90 31-Dec-16 31-Jan- 28-Feb- 31-Mar- 30-Apr- 31-May- 30-Jun- 31-Jul- 31-Aug- 30-Sep- 31-Oct- 30-Nov- 29-Dec- MSCI asia ex Japan MSCI emerging markets MSCI frontier merkets MSCI ASEAN MSCI world index Thailand Source: Bloomberg 6
SET in the regional context Forward P/E of Thailand and regional comparisons Unit: times 30-Dec-2016 30-Nov-2016 29-Dec-20 11.39 10.48 10.44 12.11 13.15 13.30 14.60 14.61 14.65 15.01 14.98 15.13 13.95 15.77 15.62 16.36 15.81 16.82.50.47 18.40 16.28 19.69 19.64.49 20.09 20.92 Average of 9 countries as of Dec 29, 20 is 16.10 16.00.04.46 28.97 36.06 35.61 Korea Hong Kong China Taiwan Singapore Malaysia Indonesia Vietnam Philippines SET mai Historical P/E of Thailand and regional comparisons Unit: times 30-Dec-2016 30-Nov-20 29-Dec-20 16.87 9.48 10.29 12. 11.21 11.10 24.18 13.51 12.85 11.96 13.64 13.92 15.14 15.44 15.59.27 16.75 16.78 16.46 18.66 19.26 19.56 22.28 23.10 25.38 21.82 23.24 Average of 9 countries as of Dec 29, 20 is 16.24 18.55 18.29 19.06 Malaysia Singapore Korea Hong Kong Taiwan China Vietnam Philippines Indonesia SET mai Source: Bloomberg, *Historical P/E of SET and mai from SETSMART Forward P/E Ratio : The measure of the price-to-earning ratio (P/E) using forecasted earnings for the next 12 months from analyst consensus in Bloomberg data base. Historical P/E Ratio: The measure of the price-to-earning ratio( P/E) using trailing 12 months earning in the calculation. 63.27 113.69 106.13 7 SET in the regional context Market Dividend Yield Unit: percent 30-Dec-2016 30-Nov-20 29-Dec-20 1.59 1.41 1.21 1.89 1.48 1.44 1.81 1.88 1.87 1.56 2.06 1.97 2.97 2.41 2.23 3.76 3.00 3.08 3.20 3.28 3.24 3.70 3.47 3.42 3.96 3.80 3.79 Average of 9 countries as of Dec 29, 20 is 2.47% 3.16 2.89 2.81 1.26 1.47 1.45 Korea Philippines China Indonesia Vietnam Singapore Malaysia Hong Kong Taiwan SET mai Source: Bloomberg Market dividend yield : Previous 12-month dividend value divided by market capitalization at the end of the month. 8
SET in the regional context Average daily turnover* (2014 - November 20) Unit: million USD 1,340.8 1,6.2 Share turnover velocity** (2014 -November 20) Unit: percent 68.5 81.3 2014 2015 2016 20 May 866.2 960.6 532.9 594.1 394.6 400.6 139.2 145.3 Jun Jul Aug Sep Oct Thailand Singapore Malaysia Indonesia Philippines Nov 2014 2015 2016 20 May 31.6 35.9 32.3 29.5 20.2 21.7 12.5 12.8 Jun Jul Aug Sep Oct Thailand Singapore Malaysia Indonesia Philippines Source: World Federation of Exchanges (WFE). * Average daily turnover calculates by trading value / number of business days ** The turnover velocity is the ratio between the Electronic Order Book (EOB) turnover of domestic shares and their market capitalization. The value is annualized by multiplying the monthly average by 12. Nov 9 SET in the regional context Domestic Market Capitalization Unit: billion USD; data as of end Nov 20 (...%) Percentage change (MoM); Oct 20 - Nov 20 4,226 Number of Listed Companies Unit: companies; data as of end-nov 20 ( ) Change (MoM); Oct 20 - Nov 20 2,2 1,052 785 525 488 436 280 3,887 2,096 922 904 752 680 560 268 (MoM) Hong Kong India* Taiwan Singapore Thailand Indonesia Malaysia Philippines v India* Hong Kong Taiwan Malaysia Singapore Thailand Indonesia Philippines (2.2%) (1.9%) (-1.5%) (1.3%) (0.6%) (-0.5%) (2.1%) (1.7%) (-19) (+14) (0) (+3) (+3) (+8) (+1) (0) Source: World Federation of Exchanges (WFE), * Bombay SE 10
SET in the regional context Domestic Market Capitalization (%YTD) Unit: percent; (end of Dec 2016 - Nov 20) 12.5% 16.7% 18.5% 20.0% 20.1% 20.9% 22.0% 14.6% 10.4% 10.8% 14.3% 15.8% USD Local currency 42.0% 32.4% 33.3% 34.4% Indonesia Philippine Malaysia Thailand Singapore Taiwan Hong Kong India Domestic Market Capitalization (%MoM) Unit: percent; (end of Oct 20 - Nov 20) -1.5% -2.0% -0.5% -0.8% -1.2% USD Local currency 0.6% 1.3% 1.7% 1.9% 2.1% 2.2% 0.3% 1.4% 2.3% Taiwan Indonesia Thailand Singapore Philippine India Malaysia Hong Kong Source: World Federation of Exchanges (WFE). * BSE India Limited 11-0.9% -1.4% Market Activities SET index classified by industry (Data as of Dec 29, 20; rebased end-2016 = 100) 130 120 110 100 90 30/12/2016 11/1/20 19/01/20 27/01/20 6/2/20 15/02/20 23/02/20 3/3/20 13/03/20 21/03/20 29/03/20 7/4/20 19/04/20 27/04/20 8/5/20 /05/20 25/05/20 2/6/20 12/6/20 20/06/20 28/06/20 6/7/20 /07/20 25/07/20 3/8/20 11/8/20 22/08/20 30/08/20 7/9/20 15/09/20 25/09/20 42804 43049 20/10/20 42746 42989 /11/20 27/11/20 43075 15/12/20 25/12/20 INDUS SERVICE RESOURC SET50 SET FINCIAL TECH PROPCON AGRO CONSUMP SET index classified by industry Unit: percent Source: SETSMART %YoY %MTD Weight Mkt cap. 2015 2016 20 Oct Nov Dec Dec SET -14.0 19.8 13.7 2.9-1.4 3.3 100% SET50 Industrial -18.7-9.7 18.6 33.6.7 28.7 2.4 3.9-0.8-0.3 4.5 4.6 67% 6% Service Resource 2.9-20.7 20.7 38.5 19.7 19.6 3.8 4.7 0.8-2.2 3.5 7.3 25% 21% Financial -22.3.7 11.5 1.8 2.6 0.9 % Technology Property -34.5-0.9 7.5 4.0 7.5 6.6 0.2 1.6-8.7-2.2 4.8 0.4 9% 15% Agro & Food Consumption -13.2-18.3 36.3 6.2-1.9-5.1 3.4 0.5-5.0-1.7 1.0 1.0 6% 1% 12
Market Activities SET Market capitalization and SET index 20,000,000 15,000,000 10,000,000 5,000,000 0 500,000 400,000 300,000 200,000 100,000 0 1,543 1,754 1,543 1,577 1,560 1,575 1,566 1,562 1,575 1,576 1,616 1,673 1,721 1,697 1,754 15,079,272 2016 616 425,364 2016,587,433 20 (YTD) 540 338,836 20 (YTD) 15,079,272 Dec 16 616 646 613 597 577 425,364 Dec 16 15,5,973 Jan mai Market capitalization and mai index 335,866 Jan 15,343,515 Feb 331,510 Feb 15,491,497 Mar 324,089 Mar 15,474,233 Apr 320,679 Apr 15,469,337 May 569 318,952 May Source: SETSMART, data as of Dec 29, 20. 15,612,755 Jun 566 551 547 571 320,280 Jun Unit: Market cap.(million THB) (LHS); Index (RHS) 15,575,690 Jul 311,257 Jul 16,023,441 Aug 312,852 Aug 16,471,1 Sep 336,262 Sep,040,721 Oct 575 547 540 341,516 Oct 16,837,277 Nov 337,670 Nov,587,433 Dec Unit: Market cap.(million THB) (LHS); Index (RHS) 338,836 Dec 1,600 1,100 600 100 750 650 550 450 350 250 150 50 20 (YTD) SET Market Cap Index High,587,433 (Dec 29, ) Low 15,099,014 (Mar 13, ) 1,753.71 (Dec 29, ) 1,535.51 (Mar 13, ) Average 15,954,643 %YTD 16.63% 13.66% 20 (YTD) mai Market Cap Index High 436,825 (Jan 5, ) Low 301,559 (Aug 16, ) Average 326,385 646.02 (Jan 31, ) 532.37 (Aug 21, ) %YTD -20.34% -12.32% 13 Market Activities SET average daily trading value and SET Index Unit: Trading value (million THB (LHS); Index (RHS) Average daily trading value SET Index at the end of period maiaverage daily trading value and maiindex Unit: Trading value (million THB) (LHS); Index (RHS) Average daily trading value mai Index at the end of period 80,000 70,000 60,000 50,000 40,000 30,000 20,000 1,542.94 50,245 2016 1,753.71 47,755 48,337 20 1,575.11 1,574.74 1,673.16 1,753.711,721.37 1,697.39 1,753.71 Q1/20 SET and mai (THB million) Average daily trading value % YOY 39,924 46,804 55,969 Q2/20 Q3/20 Q4/20 2016 20 (YTD) 52,526 18.56% 62,113 Oct 56,458 Nov 49,259 Dec 2,000 1,600 1,200 800 400 0 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 616.27 2,281 2016 540.37 597.45 565.71 570.66 540.37 574.95 547.16 540.37 2,358 2,528 2,165 2,339 2,397 2,502 20 Q1/20 Q2/20 Q3/20 Q4/20 Oct 2,429 2,255 H1/2016 H2/2016 H1/20 H2/20 Q1/20 Q2/20 Q3/20 Q4/20 Oct Nov Dec 50,114-4.59% -2.16% 46,669 58,194 41.60% 46,549-0.26% 58,366-7.76% 50,865 9.29% -10.09% 42,089-19.84% 49,143 58,366 5.96% 64,615 1.69% 58,887 1.85% 18.09% 51,514 Nov Dec 800 700 600 500 400 300 200 100 0 Source: SETSMART 14
Market Activities Average daily trading value and trading proportion classified by investor types Unit: million THB 5,523 5,304 5,238 4,799 5,677 6,295 5,5 5,834 5,107 13,433 5,200 5,608 5,080 6,081 4,481 5,595 15,151 13,703 16,598 14,352 4,778,751 13,032 15,482 28,265 24,208 22,847 25,569 25,797 19,798 22,986 28,239 Average daily trading value 52,526 50,114 46,549 4,270 4,508 5,0 5,258 14,054 13,964,989 19,576 6,411 6,332 7,132 6,101 18,365 18,416 6,186 6,398 18,678 5,584 5,695 16,014 31,080 32,966 27,626 24,221 58,366 50,865 42,089 49,143 58,366 41,483 43,306 62,188 64,615 58,887 51,514 Unit: percent 10.52% 10.10% 10.45% 11.01% 10.31% 11.% 10.58% 10.87% 10.04% 11.03% 10.65% 11.35% 10.34% 11.38% 10.79% 10.42% 10.29% 12.46% 10.41% 12.14% 10.31% 10.18% 11.04% 9.44% 10.51% 10.86% 10.84% 11.05% 25.57% 30.23% 29.44% 30.92% 28.22% 30.96% 31.51% 30.41% 33.88% 32.24% 29.53% 28.50% 31.72% 31.09% 53.81% 48.31% 49.08% 47.63% 50.72% 47.04% 46.77% 48.38% 43.36% 45.20% 49.98% 51.02% 46.91% 47.02% 2016 20 H1/20 H2/20 Q1/20 Q2/20 Q3/20 Q4/20 Jul Aug Sep Oct Nov Dec Source: SETSMART, Data as of Dec 29, 20 Local Investors Foreign Investors Local Institutions Proprietary Trading 15 Market Activities Net trading position classified by investor type (YTD) Unit: million THB Net trading value of foreign investors Unit: million THB 104,666 16,622-26,103-95,185 Local Investors Foreign Investors Local Institutions Proprietary Trading 78,546 13,022 6,371 6,652-26,103-39,126-4,075-35,051-7,121-18,894-9,036 2016 20 H1/20 H2/20 Q1/20 Q2/20 Q3/20 Q4/20 Oct Nov Dec Source: SETSMART; Data as of Dec 29, 20 16
Market Activities Proportion of trading value by market cap Unit: percent, data as of Dec 29, 20 Non SET100 and mai SET51-100 SET31-50 SET11-30 SET10 30% 32% 34% 31% 35% 32% 29% 33% 34% 34% 32% 12% 9% 14% 13% 15% 12% 14% 14% 16% 11% 11% 11% 11% 12% 11% 16% 16% 14% 11% 21% 11% 9% 11% 18% 18% 18% 18% % 20% % 16% 18% 18% 28% 25% 25% 25% 24% 25% 26% 23% 23% 22% 25% Daily average trading value (Unit: million THB) 52,526 50,114 46,549 58,366 50,865 42,089 49,143 58,366 64,615 58,887 51,514 Proportion of trading value by sector Unit: percent, data as of Dec 29, 20 Others 23% 26% 27% 27% 27% 32% 26% 27% 26% 29% 26% Construction Finance 4% 2% 5% 3% 3% 3% 6% 4% 5% 3% 3% 7% 6% 5% 5% 5% 2% 7% 7% 6% 5% 4% 4% 3% 2% 5% 2% 2% 3% 5% 8% 6% 7% 6% 6% 5% 3% Food & Beverage 4% Construction materials 7% 5% 5% 7% 6% Commerce 7% 9% 7% 7% 6% 6% 7% Transportation 7% 8% 6% 7% 6% 8% 7% 6% 9% 7% 8% 7% 6% Information & Communication Technology 14% 8% 10% 7% 11% 8% 8% 7% 7% 7% 12% 13% 12% 12% 12% 12% 12% 12% 11% Bank 11% 10% Energy 18% 20% 18% 22% % 20% 20% 24% 22% 22% 28% Source: SETSMART 2016 20 H1/20 H2/20 Q1/20 Q2/20 Q3/20 Q4/20 Oct Nov Dec Market Activities Number of active investors and active rate* 800,000 600,000 400,000 200,000 0 Unit: No. of accounts (LHS); % active rate (RHS) 26.2% 25.7% 27.6% 28.2% 24.9% 26.6% 25.7% 23.1% 24.8% 24.6% 23.1% 24.4% 26.5% 26.4% 26.1% 311,907 335,302 370,530 336,901 384,835 366,720 358,135 351,0 323,271 351,331 332,783 354,027 388,357 389,465 390,421 20151 20161 Nov 16 Dec 16 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov 2015 2016 Source: SET; Note: 1. 12-month average 2. December info * calculated by number of active accounts / total accounts; active account is account which trade at least once a month ** Data as of Dec 21, 20 18 clients active rate 2016 20 Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Number of investors (accounts) 1,244,907 2 1,353,225 2 1,344,897 1,353,225 1,364,720 1,376,839 1,391,818 1,402,234 1,414,331 1,426,8 1,437,826 1,450,697 1,464,845 1,477,606 1,496,421 % YoYof Number ofaccounts 13.3% 2 8.7% 2 7.4% 8.2% 8.7% 9.3% 9.5% 9.6% 9.7% 9.5% 10.1% 10.0% 10.1% 11.0% 11.3% Trading Value / Accounts (Million baht) 2.87 2 3.18 2 3.43 2.59 3.03 2.71 2.77 2.11 2.57 2.68 2.37 2.69 3.36 3.15 3.32 % YoY of trading value / Accounts -10.8% 10.8% 26.0% -11.1% -8.7% -15.2% -30.7% -18.7% -2.9% -20.8% -23.2% -20.6% 2.8% -2.2% -3.3% 40% 30% 20% 10% 0%
Market Activities Number of active internet investor s account 300,000 224,726 235,570 257,634 234,997 269,618 257,421 251,161 244,579 244,637 243,864 227,873 244,646 270,587 272,254 273,364 300% 200,000 200% 100% 100,000 16% 5% 21% 15% 43% 38% % 10% 14% 3% -12% -13% -1% -1% 6% 0% 0-100% 1 1 2015 2016 Nov 16 Dec 16 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Internet Trading Value Unit: million THB (LHS); %YoY (RHS) 600,000 478,158 339,746 372,805 320,529 425,657 450,532 431,925 325,478 320,370 310,820 416,499 204,788 285,124 228,9 285,833 400,000 200,000 0-2% 10% 56% 12% 41% 13% -22% -18% 1 1 5% Unit: No. of accounts (LHS); %YoY (RHS) -21% -44% -42% 6% 1% -13% 2015 2016 Nov 16 Dec 16 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov % Internet trading value 2015 2 2016 2 Nov 16 Dec 16 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Comparing with total trading value (%) 37.9 34.9 37.6 36.7 36.5 32.8 32.3 30.0 31.6 33.1 29.0 30.0 34.5 35.2 32.1 Comparingwith trading value of local investors, 64.0 64.9 63.4 67.5 66.0 68.0 67.3 66.3 67.4 68.2 66.8 66.4 69.0 69.0 68.5 excludes local institution (%) 300% 200% 100% 0% -100% -200% Source: SET; Note: 1. monthly average value 2. calculated by average of monthly internet trading value / average of monthly total trading value Active internet investors is account which trade at least once a month. ; Data as of Dec 21, 20. 19 Market Activities Asset under management Unit: million THB; as of Dec 29, 20 Net asset value Fund type End of year End of Month 2016 20 Sep Oct Nov Dec %YTD % proportion Equity Fund 1,141,779 1,375,319 1,230,3 1,273,936 1,294,235 1,375,319 20.5% 27.6% Fixed Income Fund 2,508,995 2,712,984 2,712,954 2,725,396 2,697,347 2,712,984 8.1% 54.4% Mixed Fund 297,695 371,759 338,092 350,280 359,379 371,759 24.9% 7.5% Property Fund 287,629 204,053 215,301 215,788 215,115 204,053-29.1% 4.1% Infrastructure fund 235,937 247,296 243,118 244,838 248,497 247,296 4.8% 5.0% Others 87,511 76,434 66,525 69,223 71,293 76,434-12.7% 1.5% Total 4,559,545 4,987,846 4,806,163 4,879,462 Equity fund classified by destination 4,885,866 4,987,846 9.4% 100.0% Domestic Equity Fund (Exclude Vayupak Fund) 619,808 773,357 709,704 701,318 712,304 773,357 24.8% 56.2% Vayupak Fund 328,726 369,250 359,191 359,918 359,145 369,250 12.3% 26.8% Foreign Equity Fund 193,245 232,712 205,041 212,701 222,785 232,712 20.4% 16.9% Total 1,141,779 1,375,319 1,273,936 1,273,936 1,294,235 1,375,319 20.5% 100.0% Equity fund classified by special fund group Long-Term Equity Fund (LTF) 337,392 397,126 345,260 356,838 359,241 397,126.7% 28.9% Retirement Mutual Fund - Equity (RMFEQ) 73,467 100,576 84,841 88,694 90,626 100,576 36.9% 7.3% Trigger Equity Fund 18,859 2,059 3,512 2,612 1,775 2,059-89.1% 0.1% Other Equity fund 383,334 506,307 437,368 465,875 483,448 506,307 32.1% 36.8% Vayupak Fund 328,726 369,250 359,191 359,918 359,145 369,250 12.3% 26.8% Total 1,141,779 1,375,319 1,230,3 1,273,936 1,294,235 1,375,319 20.5% 100.0% Source: Summation of Asset Size by Classification report, Association of Investment Management Companies Note: In Jan 20, AIMC adjusted fund type of 1 Mixed funds to Others fund 20
Market Activities: TFEX Average daily trading contract classified by instruments Unit: contracts; Data as of Dec 29, 20 2016 20 %YOY 3 H1/20 H2/20 Q1/ Q2/ Q3/ Q4/ Nov Dec %MOM 4 SET50 Index Futures 1 131,938 107,873-18.24% 95,626 120,120 100,757 90,324 114,374 126,059 118,477 122,548 3.44% SET50 Index Options 1,757 4,433 152.13% 2,795 6,072 2,450 3,151 6,992 5,121 3,913 5,358 36.93% Single Stock Futures 138,634 194,593 40.36% 3,986 215,201 189,815 157,628 185,388 246,007 211,763 244,754 15.58% 50 Baht Gold Futures 747 783 4.82% 658 909 693 622 1,139 670 638 723 13.32% 10 Baht Gold Futures 1 11,155 14,347 28.61% 11,1,577 9,093 13,209 19,721 15,362 15,091 15,555 3.07% Interest Rate Futures 1 - - n.a. - - -- - - - - - n.a. Silver Futures 1 - - n.a. - - - - - - - - n.a. Brent Crude Oil Futures 1 119 - n.a. - - - - - - - - n.a. USD Futures 1 838 1,422 69.69% 1,073 1,770 907 1,244 1,927 1,609 1,747 1,960 12.19% Sector Index Futures 1 - - n.a. - - - - - - - - n.a. Agricultural Futures 6 1 44 4,300.00% 31 56 7 55 79 32 24 25 4.% Gold Deferred,6-722 n.a. - 722 - - 828 713 639 718 12.36% All Products 2 285,189 324,2 13.68% 285,284 362,427 303,721 266,234 330,448 395,573 352,292 391,640 11.% Note 1 Calculate from the total volume traded during that period, divided by the number of business days in that period. 2 Calculate by total trading volume of each instrument / number of business days of each instrument. 3 Calculated from the average daily trading volume of 2016 with 20 (YTD). 4 Calculated from the average daily trading volume in November 20 compared with October 20. 5 TFEX ready for first agricultural trading "RSS3 Futures" on Feb 15, 2016 6 TFEX ready for gold deferred futures trading on Sep 4, 20 Source: SETSMART 21 Market Activities Fund raising value Accumulated fund raising value in 20 Unit: million THB Type Yearly % YoY Quarterly Monthly 2016 20 2/2016 3/2016 4/2016 1/20 2/20 3/20 4/20 Oct Nov Dec Initial Public Offering 52,781 106,280 101.36% 9,195 11,062 31,168 2,346 29,949 23,550 50,433 6,897 6,070 37,467 Secondary Offering 199,529 152,363-23.64% 75,407 93,821 16,487 25,314 34,498 67,807 24,744 6,162 11,727 6,855 -Public Offering 1,339 2,083 55.56% - - 1,339-1,351-732 - - 732 -Private Placement 20,245 56,622 9.68% 1,538 1,712 8,511 21,038 4,100 25,314 6,0 1,242 1,263 3,666 -Convertible Bond - - n.a. - - - - - - - - - - -Warrant 63,672 31,805-50.05% 51,328 7,445 3,207 1,740 2,486,364 10,216 341 9,702 3 -Right Offering 114,272 61,852-45.87% 22,541 84,664 3,430 2,536 26,562 25,129 7,625 4,579 763 2,284 Grand Total 252,310 258,642 2.51% 84,602 104,884 47,655 27,660 64,447 91,358 75,8 13,059,797 44,322 Agro and Foods 31,913 Others 181 Property 66,488 Technology 4,084 Services 21,941 Concumption 4,731 Industrials 22,412 Resources 61,120 mai 22,633 Financials 23,141 Accumulated fund raising value in December 20 Consumption 4,028 Technology 1,673 New IPOs: 1. GULFEnergy Development Plc. (GULF). Value 28,999 million baht 2. ThonburiHealthcare Group Plc. (THG). Value 3,230 million baht 3. HumanicaPlc. (HUMAN). Value 720 million baht 4. CPT Drives And Power Plc. (CPT) Value 621 million baht 5. Grand Prix International Plc(GPI). Value 350 million baht 6. VintcomTechnology Plc. (ADB).Value 230 million baht 7. DusitThaniFreehold And Leasehold Real Estate Investment Trust (DREIT). 8. CPN Retail Growth Leasehold REIT (CPNREIT). Source: SET; Data as of January 4, 2018. 22 Property 5,1 Services 5,705 mai 3,180 Resources 23,999
Appendix 1 Market Statistics As end of December 20 2015 2016 20 Q1/20 Q2/20 Q3/20 Q4/20 Oct 20 Nov 20 Dec 20 SET SET Index 1,288.02 1,542.94 1,753.71 1,575.11 1,574.74 1,673.16 1,753.71 1,721.37 1,697.39 1,753.71 Market Dividend Yield (%) 3.36 3.04 2.70 3.13 3.09 2.89 2.70 2.79 2.83 2.70 Market P/E Ratio 1/ 22.57 18.55 19.06.38 16.32.90 19.06 18.56 18.29 19.06 Market P/BV 1.74 1.96 2.13 1.93 1.89 2.02 2.13 2.09 2.02 2.13 Total Turnover Value (M.Baht) 9,997,371.76 12,259,773 11,652,311.49 2,996,891.18 2,395,435.55 2,901,836.71 3,358,148.05 1,180,152.73 1,242,069.44 935,925.88 Daily Turnover Value (M.Baht) 41,141.45 50,245 47,755.37 48,336.95 39,923.93 46,803.82 55,969.13 62,113.30 56,457.70 49,259.26 Number of Listed Securities 1,646 1,879 2,083 1,891 1,962 2,077 2,083 2,095 2,161 2,083 Newly Listed Companies 22 11 22 2 3 6 11 3 2 6 Raising value of New Listed Securities (M.Baht) 2/ 9,880.20 135,864 390,660.95 4,620.60 94,929.61 76,749.83 214,360.91 51,036.00 7,895.00 155,429.91 Total value of Newly Listed Securities (M.Baht) 3/ 35,306.59 46,868 97,546.66 1,422.44 28,541.61 21,083.78 46,498.83 6,681.00 3,341.96 36,475.87 Delisted Listed Companies 9 8 7 1 2 2 2.00 2 - - No. of Companies moved from mai to SET 3 1 2 1-1 - - - - No. of Companies moved from SET to mai 1-1 1 - - - - - - Total Capitalization (M.Baht) 12,282,755 15,079,272.11,587,433.31 15,491,497 15,612,755 16,471,1,587,433,040,721 16,837,277,587,433 mai mai Index 522.62 616.27 540.37 597.45 565.71 570.66 540.37 574.95 547.16 540.37 Market Dividend Yield (%) 1.00 1.24 1.42 1.44 1.53 1.43 1.42 1.42 1.43 1.42 Market P/E Ratio 1/ 52.94 63.27 106.13 90.93 92.13 99.14 106.13 99. 113.69 106.13 Market P/BV 3.29 3.82 2.83 3.05 2.85 2.93 2.83 2.96 2.81 2.83 Total Turnover Value (M.Baht) 768,097.73 556,487 575,436.58 156,712.91 129,891.07 145,007.67 143,824.93 47,538.38 53,445.83 42,840.72 Daily Turnover Value (M.Baht) 3,160.90 2,280.68 2,358.35 2,527.63 2,164.85 2,338.83 2,397.08 2,502.02 2,429.36 2,254.77 Number of Listed Securities 166 1,047 203 184 192 195 2,083 196 203 203 Newly Listed Companies 13 16 3 2 3 9 1 6 2 Raising value of New Listed Securities (M.Baht) 2/ 18,729.54 21,902 35,688.14 3,696.00 6,738.24 10,995 14,258.50 720.00 10,159.00 3,379.50 Total value of Newly Listed Securities (M.Baht) 3/ 4,593.83 5,912 8,732.96 924.00 1,407.64 2,467 3,934.63 216.00 2,727.73 990.90 Delisted Listed Companies - - - - - - - - - - No. of Companies moved from mai to SET 3 1 2 1-1 - - - - No. of Companies moved from SET to mai - - 1 1 - - - - - - Total Capitalization (M.Baht) 323,478.44 425,364.18 338,836.35 324,089.06 320,279.80 336,262 338,836 341,515.82 337,670.23 338,836.35
Appendix 1 Market Statistics As end of December 20 2015 2016 20 Q1/20 Q2/20 Q3/20 Q4/20 Oct 20 Nov 20 Dec 20 SET & mai Trading value proportion separated by investor types 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% Local Investors 59.21% 53.81% 48.31% 50.72% 49.08% 46.77% 48.38% 51.02% 46.91% 47.02% Foreign Investors 22.20% 25.57% 30.23% 28.22% 29.44% 31.51% 30.41% 28.50% 31.72% 31.09% Local Institutions 9.39% 10.10% 11.01% 11.03% 11.% 11.38% 10.42% 9.44% 10.86% 11.05% Proprietary Trading 9.20% 10.52% 10.45% 10.04% 10.31% 10.34% 10.79% 11.04% 10.51% 10.84% Net Buying Position(M.Baht) Local Investors 79,895.83-104,054.06-95,184.57-34,362.26-28,918.70 -,860.09-14,043.53-1,032.42 14,155.76-27,166.86 Foreign Investors -155,630.70 78,545.98-26,103.49 6,370.85 6,651.60-4,074.92-35,051.02-7,120.81-18,893.71-9,036.49 Local Institutions 82,133.01 132.09 104,665.62 28,422.95 23,011.92 10,746.07 42,484.68 6,021.19 5,490.25 30,973.24 Proprietary Trading -6,398.13 25,375.98 16,622.44-431.53-744.83 11,188.94 6,609.86 2,132.04-752.30 5,230.11 Daily Turnover Value (M.Baht) 44,302.35 52,525.65 50,113.72 50,864.58 42,088.78 49,142.65 58,366.22 64,615.32 58,887.06 51,514.03 Total Capitalization (M.Baht) 12,606,233.14 15,504,636.29,926,269.66 15,815,585.99 15,933,034.84 16,807,378.56,926,269.66,382,236.94,4,946.73,926,269.66 Source: The Stock Exchange of Thailand Note: 1/ Historical P/E which calculated from market price of common stock divided / earnign per share 2/ Calculated from IPO Price multiplies with number of listed shares 3/ Calculated from IPO Price multiplies with IPO shares