Dismal year for Thai stock market – The Nation

Dismal year for Thai stock market – The Nation

The index plummeted to 1,286.70 points during the day.

It peaked on May 21 at 1,643.43 points and the lowest level was registered on August 28 at 1,275.76 points.

The average daily turnover this year rose by 55 per cent to Bt48 billion, against Bt31.08 billion last year. The market capitalisation dropped by 3 per cent on year to Bt11.496 trillion.

Foreign investors remained net-sellers in the Thai stock market on Friday, boosting their net-sell position in 2013 to Bt193.9 billion.

On Friday, their sale outpaced purchases by Bt716 million.

In December alone when Thailand faces political turmoil, their net-sell position hit Bt40.58 billion. Therdsak Thaveeteeratham, senior director of Asia Plus Securities, attributed the sharp fall today to continued political turbulence which spurred foreign sell-off. He foresees continued pressure when the market reopen on January 2.

Like other emerging markets, the Thai exchange suffered from capital outflows following the US Federal Reserve’s decision to “taper” the quantitative easing.

At 4.21pm, the composite index is below 1,300 points, with turnover of Bt25.89 billion.

At 1,295.63 points, it is 6 per cent lower than the 2012 closing.

Foreign investors made a foray into emerging markets in the beginning of this year, pushing the SET index to hit a 19-year high at 1643.43 points on May 21.

In the past six months, the index has shed 8.56 per cent.

In 2013, the bourse welcomed 15 new listings, compared to only 8 in 2012. The Market for Alternative Investment welcomed 15 new listings, compared to 10 last year. At the end of 2013, the market capitalisation rose by 33 per cent on year to Bt177.36 billion.

Read this article: 

Dismal year for Thai stock market – The Nation

See which stocks are being affected by Social Media

Share this post