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.
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
Price to book value has not changed much either at 2.13 (vs 2.15 in July).
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
Next update should be in July 2015.