Wednesday, January 21, 2015

Long Term Charts Thai Stock Market (Thai SET) Update - January 2015

This article is the bi-annual update of the long term charts of the SET Index, price earning ratio and price to book value posted on CNX Translation Forums.

In the last six months, the SET index went down sharply, and came back to exactly where it was at 1537.


The PER is stable at 17.81, again almost exactly the same as in July, meaning the Thai stock market still looks expensive on an historical basis.

Price to book value has not changed much either at 2.13 (vs 2.15 in July).

There's been volatily in the last six months, but we are now basically back where we were six months ago in all metrics. The dividend yield has come down slightly at around 2.94% against 3.02% in July, but so are fixed deposit rates. which is still much better than the 2% that you get with a 36-month fixed deposit in Bangkok Bank. What worries me are the recent massive moves in currencies such as the ruble, and especially the swiss franc, as well as commodities which does not bode well for the world economy, and over-extended stock markets in many places around the world.

Next update should be in July 2015.