SET market report for July 2017...SET News 61/2017 August 21, 2017 SET market report for July 2017 - SET Index closed at 1,576.08 points, up 2.15 pct from end-2016. - Average daily

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SET News 61/2017 August 21, 2017

SET market report for July 2017

- SET Index closed at 1,576.08 points, up 2.15 pct from end-2016.

- Average daily securities trading value at THB 41.48 bln

- Market cap at THB 15.9 trillion, a 2.47 pct rise from end-2016

BANGKOK, August 21, 2017 – The Stock Exchange of Thailand (SET) Index ended July at 1,576.08 points, gaining 2.15 percent from the end of 2016. Since the start of 2017, three industry groups outperformed the SET index were Industrials, Technology and Property & Construction. At the end of July, a combined market capitalization of SET and Market for Alternative Investment (mai) was THB 15.9 trillion (approx. USD 468 billion), up 2.47 percent from the end of 2016. The average daily trading value of SET and mai in July totaled THB 41.48 billion. Key highlights for July Securities:

SET Index ended July at 1,576.08 points, up 2.15 pct from end-2016.

Market capitalization of SET stood at THB 15.58 trillion, up 3.29 pct from end-2016, while market value of mai amounted to THB 311.26 billion, down 26.83 percent from end-2016.

Forward P/E ratio of SET was 15.55 times, while mai's was 36.32 times.

Dividend yield ratio of SET was 3.11 percent at end-July, while mai's was 1.59 percent.

In July, the average daily trading value of SET and mai fell 35.53 pct compared to the same period a year earlier to THB 41.48 billion, and dropped by 6.35 pct year-on-year to THB 45.87 billion for the January-July period.

Foreign investors were net sellers of Thai shares in July at THB 6.49 billion, while being the net buyer at THB 6.54 billion during January-July.

In July, SET and mai-listed companies raised funds through equity worth a combined THB 45.77 billion, of which THB 10.87 billion was from the primary market and THB 34.90 billion from the secondary market. For the first seven months, the total fund raised reached THB 137.88 billion.

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Derivatives:

The average derivatives trading volume was 209,310 contracts per day in July. For the first seven months, the average derivatives trading volume decreased 3.56 percent from a year earlier to 275,047 contracts a day, the decrease was largely driven by the decrease in transactions of SET50 Index Futures.

For more information, please visit http://www.set.or.th/th/setresearch/information/press_release.html .

“SET…You Grow, We Groom”

Follow us on Twitter @SET_Thailand

Members of the media please contact the Corporate Communications Dept.: Arada Kultawanich tel: +66 (0) 2009 9483 / Darawan Maleesri tel: +66 (0) 2009 9484 / Kanokwan Khemmalai tel: +66 (0) 2009 9478.

http://www.set.or.th/th/setresearch/information/press_release.html

SET Market Report for July 2017

August 21, 2017

Key highlights for July 2017

• The Stock Exchange of Thailand (SET) Index ended July 2017 at 1,576.08 points, gaining 2.15 percent from the end of 2016. Since the start of 2017,

three industry groups outperformed the SET index were Industrials, Technology and Property & Construction.

• In July, the average daily trading value of SET and mai fell 35.53 pct compared to the same period a year earlier to THB 41.48 billion, and dropped by

6.35 pct year-on-year to THB 45.87 billion for the January-July period.

• Foreign investors were net sellers of Thai shares in July at THB 6.49 billion, while being the net buyer at THB 6.54 billion during January-July.

2

• Foreign investors were net sellers of Thai shares in July at THB 6.49 billion, while being the net buyer at THB 6.54 billion during January-July.

• In July, SET and mai-listed companies raised funds through equity worth a combined THB 45.77 billion, of which THB 10.87 billion was from the primary

• market and THB 34.90 billion from the secondary market. For the first seven months, the total fund raised reached THB 137.88 billion.

• The average derivatives trading volume was 209,310 contracts per day in July. For the first seven months, the average derivatives trading volume

decreased 3.56 percent from a year earlier to 275,047 contracts a day, the decrease was largely driven by the decrease in transactions of SET50 Index

Futures.

Net buy / sell

Yearly 6 months Quarterly Monthly

YTD2014 2015 2016 H2/16 H1/17 4/2016 1/2017 2/2017

2017

May Jun Jul

Foreign net trading value into regional stock markets

Unit: million USD, Data as of Jul 31, 2017

SET in the regional context

2014 2015 2016 H2/16 H1/17 4/2016 1/2017 2/2017

May Jun Jul

THAILAND -1,091 -4,372 2,240 1,203 393 -1,545 185 208 161 -5 -199 194

INDONESIA 3,766 -1,580 1,259 274 1,303 -1,367 626 677 -48 -325 -798 505

PHILIPPINES 1,256 -1,194 83 -557 409 -668 -348 757 173 386 38 447

VIETNAM 136 100 -345 -266 406 -114 154 252 59 93 112 518

TAIWAN 13,190 3,384 10,956 4,712 9,413 -3,305 5,970 3,443 1,565 720 22 9,435

INDIA 16,118 3,274 2,903 -53 8,281 -4,607 6,699 1,808 1,542 610 579 9,086

KOREA 5,684 -3,580 10,480 7,131 9,012 1,066 4,766 4,246 1,635 1,659 -381 8,631

Source: Bloomberg

Note: exclude mai3


Unit: net flow (billion THB); Data as of Jul 27, 2017

Foreign net flow into Thai bond and equity markets

Net flow

Yearly Quarterly Monthly Weekly

2014 2015 2016 4/2016 1/2017 2/20172017 11-14

Jul

17-21

Jul

24-27

JulMay Jun Jul

1.Government bond (LB+TB) 29.7 -71.8 16.4 -22.8 51.0 44.6 9.8 24.0 -11.0 -10.3 0.8 1.2

Sources: SETSMART, Thai BMA and BOT

4

1.Government bond (LB+TB) 29.7 -71.8 16.4 -22.8 51.0 44.6 9.8 24.0 -11.0 -10.3 0.8 1.2

2.Central bank bond -53.9 -40.4 46.8 -75.1 11.6 -18.6 23.2 -24.9 4.2 -1.3 -3.5 9.4

3.Equity -35.7 -155.6 78.5 -54.7 6.3 6.7 0.2 -0.6 0.7 1.4 -0.1 -2.6

Total (1+2+3) -59.9 -267.8 141.7 -152.6 68.9 32.7 33.2 -1.5 -6.1 -10.2 -2.8 8.0

THB/USD (average) 32.48 34.25 35.28 35.40 35.12 34.30 34.51 33.99 33.77 33.93 33.56 33.40

THB/USD (end of period) 32.91 36.03 35.83 35.83 34.35 33.93 34.05 33.93 33.33 33.75 33.44 33.33


10.0 10.1 12.4 12.1

20.7

16.523.3

15.118.1

27.4 29.323.7 23.3

2.1 4.27.2 10.3

12.7 12.915.6 17.2 17.9 18.6

22.1 23.7 24.2

Thailand Japan Malaysia Indonesia Taiwan China Singapore Philippines Vietnam Korea India MSCI EM Hong Kong

USD Local currency

Stock index change (%YTD)

Unit: percent; (end of Dec 2016 – July 31, 2017)

5

Source: Bloomberg; * MSCI EM = MSCI Emerging Markets Index

1.2 0.22.0

0.20.8

2.30.9

2.6 2.2

4.75.9 5.5 6.0

-0.5 -0.2

0.1 0.2 0.3 0.5 0.91.9 2.2

3.2

5.2 5.56.1

Japan Malaysia Thailand Indonesia Taiwan Korea Vietnam China Philippines Singapore India MSCI EM Hong Kong

USD Local currency

Stock index change (%MTD)

Unit: percent; (end of Jun 2017 – July 31, 2017)

Thailand Japan Malaysia Indonesia Taiwan China Singapore Philippines Vietnam Korea India MSCI EM Hong Kong

Stock index movement (in local currency)

Data as of July 31, 2017; rebased end-2016 = 100


120

130Vietnam

Philippines

Singapore

120

130 MSCI asia ex

Japan

MSCI emerging

markets

Source: Bloomberg

6

90

100

110

31-D

ec-1

6

31-J

an-1

7

28-F

eb-1

7

31-M

ar-1

7

30-A

pr-1

7

31-M

ay-1

7

30-J

un-1

7

31-J

ul-1

7

Singapore

Indonesia

Malaysia

Thailand90

100

110

31-D

ec-1

6

31-J

an-1

7

28-F

eb-1

7

31-M

ar-1

7

30-A

pr-1

7

31-M

ay-1

7

30-J

un-1

7

31-J

ul-1

7

markets

MSCI frontier

merkets

MSCI ASEAN

MSCI world

index

Thailand

10.8

9

12.2

3

13.3

6

14.6

7

13.0

7

16.1

4

16.1

2

17.0

6

20.5

0

16.5

3

31.6

4

10.2

9

12.4

3

14.0

3

14.7

1

14.6

7

15.7

4

16.3

4

16.7

6

19.0

0

15.3

9

37.2

8

10.1

9

13.0

8

14.4

2

14.8

5

15.1

2

15.6

2

16.2

6

16.7

5

19.3

9

15.5

5

36.3

2

Korea Hong Kong China Taiwan Singapore Vietnam Malaysia Indonesia Philippines SET mai

31-Jul-2016 30-Jun-2017 31-Jul-2017Unit: times

Forward P/E of Thailand and regional comparisons


Average of 9 countries as of Jul 31, 2017 is 15.08

12.3

0

11.9

3

16.7

7

16.3

9

17.9

5

15.8

7

16.9

1

23.5

9

26.8

7

23.3

3

67.0

2

12.9

3

13.5

5

16.1

1

16.2

1

16.6

6

17.2

4

17.0

2

21.5

5

24.4

6

16.3

2

92.1

3

13.3

5

14.3

6

16.0

2

16.1

9

16.6

2

17.3

8

17.5

8

22.0

3

24.3

9

16.3

8

93.0

8

Singapore Hong Kong Taiwan Vietnam Malaysia Korea China Philippines Indonesia SET mai

31-Jul-2016 30-Jun-2017 31-Jul-2017

Korea Hong Kong China Taiwan Singapore Vietnam Malaysia Indonesia Philippines 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.

Average of 9 countries as of Jul 31, 2017 is 17.55

7

Unit: times

Historical P/E of Thailand and regional comparisons

3.27

3.09

3.90

3.73

4.03

3.13

2.23

.75 3.06

3.29

3.41

3.67

3.16

2.98

3.06

3.18

3.26

3.84

3.11

31-Jul-2016 30-Jun-2017 31-Jul-2017

Market Dividend Yield

Unit: percent


1.61

1.63

2.01

1.85

1.24

1.49

1.61

1.76

2.23

2.

1.67

1.47

1.58

1.93

2.07

1.59

Korea Philippines China Indonesia Vietnam Malaysia Singapore 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

Average of 9 countries as of Jul 31, 2017 is 2.60%

65.263.0 64.0

31.533.9

41.4

28.4

1,220.71,156.0

1,135.2

859.2 910.9772.9566.9 684.6

Share turnover velocity** (2013 - June 2017)

Unit: percent

Average daily turnover* (2013 - June 2017)

Unit: million USD


29.8

31.5

26.4

33.941.4

28.4

20.623.5

13.713.4 15.6

16.4

2013 2014 2015 2016 2017 Jan

17

Feb

17

Mar

17

Apr

17

May

17

Jun

17

Thailand Singapore Malaysia

Indonesia Philippines

772.9566.9 684.6518.6

411.0 459.4363.5

142.2 160.8184.8

2013 2014 2015 2016 2017 Jan

17

Feb

17

Mar

17

Apr

17

May

17

Jun

17

Thailand Singapore Malaysia

Indonesia Philippines

9

Source: World Federation of Exchanges (WFE)., Data of Indonesia market as of April 2017.

* 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.

5,795

3,674

1,948

Domestic Market Capitalization

Unit: billion USD; data as of end June 2017

(...%) Percentage change (MoM); May 2017 - Jun 2017

Number of Listed Companies

Unit: companies; data as of end-June 2017

(…) Change (MoM); May 2017 - Jun 2017


Source: World Federation of Exchanges (WFE), Indonesia Stock Exchange and Bloomberg

* Bombay SE 10

2,034

918 900 752 663 553 268

Indi

a*

Hon

g Kon

g

Tai

wan

Mal

aysi

a

Sin

gapo

re

Tha

iland

Indo

nesi

a

Phi

lippi

nes

1,948

1,015738

479 468 415 270

Hon

g Kon

g

Indi

a*

Tai

wan

Sin

gapo

re

Indo

nesi

a

Tha

iland

Mal

aysi

a

Phi

lippi

nes

vv(0.3%) (-0.2%) (-1.0%) (+19) (+7) (+1)(2.7%) (1.2%) (2.1%) (+1) (0) (+1)(MoM) (+10)(0.0%) (-2)(1.2%)


7.1% 10.4% 12.5% 13.6% 14.4% 15.1% 17.8%24.8%

2.8%

10.8%14.5%

9.8% 10.5%15.8%

13.2%18.6%

Thailand Indonesia Philippine Singapore Malaysia Hong Kong Taiwan India

USD Local currency

Domestic Market Capitalization (%YTD)

Unit: percent; (end of Dec 2016 - Jun 2017)

Source: World Federation of Exchanges (WFE).

* BSE India Limited 11

Thailand Indonesia Philippine Singapore Malaysia Hong Kong Taiwan India

-1.0% -0.2%

0.0% 0.3% 1.2% 1.2% 2.1% 2.7%0.4% 0.1% 0.3% 0.5% 0.7% 0.9% 2.0%

3.6%

Philippine India Malaysia Hong Kong Singapore Thailand Indonesia Taiwan

USD Local currency

Domestic Market Capitalization (%MoM)

Unit: percent; (end of May 2017 - Jun 2017)

90

110

INDUS

TECH

SET50

PROPCON

SET

RESOURC

SERVICE

FINCIAL

SET index classified by industry

Market Activities

(Data as of Jul 31, 2017; rebased end-2016 = 100)

%YTD Weight Mkt cap.

2014 2015 2016 May 17 Jun 17 Jul 17 Jul 17 Jul 17

SET 15.3 -14.0 19.8 -0.3 0.8 0.1 2.1 100%

SET50 13.3 -18.7 18.6 -0.8 0.8 1.0 4.1 66%

Industrial -14.3 -9.7 33.6 -0.5 0.4 0.8 12.7 6%

Technology 22.0 -34.5 7.5 -0.2 2.0 -0.2 8.5 11%

Property 18.8 -0.9 4.0 0.0 0.1 -0.7 2.3 16%

Resource -2.3 -20.7 38.5 -1.1 -2.0 3.5 2.0 20%

Service 22.8 2.9 20.7 1.2 2.7 0.6 1.0 24%

Financial 27.9 -22.3 17.7 -0.9 1.8 -2.9 0.7 17%

Consumption 40.9 -18.3 6.2 -5.4 -0.1 -0.3 -3.3 1%

Agro & Food 8.7 -13.2 36.3 -1.5 0.3 -1.7 -6.1 7%

%YoY %MTD

90

30/1

2/20

16

9/1/

2017

13/0

1/20

17

19/0

1/20

17

25/0

1/20

17

31/0

1/20

17

6/2/

2017

10/2

/201

7

17/0

2/20

17

23/0

2/20

17

1/3/

2017

7/3/

2017

13/0

3/20

17

17/0

3/20

17

23/0

3/20

17

29/0

3/20

17

4/4/

2017

11/4

/201

7

19/0

4/20

17

25/0

4/20

17

2/5/

2017

8/5/

2017

15/0

5/20

17

19/0

5/20

17

25/0

5/20

17

31/0

5/20

17

6/6/

2017

12/6

/201

7

16/0

6/20

17

22/0

6/20

17

28/0

6/20

17

4/7/

2017

11/7

/201

7

17/0

7/20

17

21/0

7/20

17

27/0

7/20

17

FINCIAL

CONSUMP

AGRO

Source: SETSMART

SET index classified by industry

Unit: percent

12

15,0

79,2

72

15,5

75,6

90

13,7

92,0

13

14,6

86,0

74

14,9

62,0

71

14,3

64,5

85

14,5

89,7

97

14,7

42,7

71

15,0

79,2

72

15,5

17,9

73

15,3

43,5

15

15,4

91,4

97

15,4

74,2

33

15,4

69,3

37

15,6

12,7

55

15,5

75,6

90

1,543 1,576 1,445 1,524 1,548 1,483 1,496 1,510 1,543 1,577 1,560 1,575 1,566 1,562 1,575 1,576

100

600

1,100

1,600

0

5,000,000

10,000,000

15,000,000

20,000,000

2016

2017

(YTD

)

Jun

16

Jul 1

6

Aug

16

Sep

16

Oct

16

Nov

16

Dec

16

Jan

17

Feb

17

Mar

17

Apr

17

May

17

Jun

17

Jul 1

7

SET Market capitalization and SET index Unit: Market cap.(million THB) (LHS); Index (RHS)

Market Activities

SET Market Cap Index

High 15,730,282(Jun, 27)

1,591.00(Jan 26, 17)

Low 15,099,014(Mar 13, 17)

1,535.51(Mar 13, 17)

Average 15,498,911

%YTD 3.29% 2.15%

2017 (YTD)

425,

364

311,

257

337,

010

382,

584

378,

830

362,

722

379,

484

394,

945

425,

364

335,

866

331,

510

324,

089

320,

679

318,

952

320,

280

311,

257

616 551 527

589 585 552 576 599

616 646 613 597

577 569 566 551

50150250350450550650750

0

100,000

200,000

300,000

400,000

500,000

2016

2017

(YTD

)

Jun

16

Jul 1

6

Aug

16

Sep

16

Oct

16

Nov

16

Dec

16

Jan

17

Feb

17

Mar

17

Apr

17

May

17

Jun

17

Jul 1

7

2016

2017

(YTD

)

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

mai Market capitalization and mai index

Source: SETSMART, data as of Jul 31, 2017.13

Unit: Market cap.(million THB) (LHS); Index (RHS)

%YTD 3.29% 2.15%

mai Market Cap Index

High 436,825

(Jan 5, 17)

646.02

(Jan 31, 17)

Low 303,573

(Mar 15, 17)

545.63

(May 15, 17)

Average 325,775

%YTD -26.83% -10.59%

2017 (YTD)

616.27

551.03518.40 527.35

597.45 565.71 568.88 568.59551.03

400

500

600

700

800

8,000

10,000

12,000

14,000

50,245

43,613 45,168 44,910 48,337

1,542.941,576.08

1,407.70 1,444.99 1,575.111,574.741,561.66 1,574.74

1,576.08

1,200

1,600

2,000

50,000

60,000

70,000

80,000

SET average daily trading value and SET Index

Average daily trading value SET Index at the end of period

mai average daily trading value and mai Index

Average daily trading value mai Index at the end of periodUnit: Trading value (million THB (LHS); Index (RHS) Unit: Trading value (million THB) (LHS); Index (RHS)

Market Activities

2,2812,252

1,371 1,9022,528

2,165 2,2132,164 1,631

0

100

200

300

400

0

2,000

4,000

6,000

8,000

2016

2017

(YTD

)

Q1/

2016

Q2/

2016

Q1/

2017

Q2/

2017

May

17

Jun

17

Jul 1

7

43,613 45,168 44,910 48,337

39,924 40,781 40,572 39,852

0

400

800

20,000

30,000

40,000

50,000

2016

2017

(YTD

)

Q1/

2016

Q2/

2016

Q1/

2017

Q2/

2017

May

17

Jun

17

Jul 1

7

SET and mai(THB million)

2016 2017(YTD)

H1/2016 Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Apr 17 May 17 Jun 17 Jul 17

Average daily trading value % YOY

52,52618.56%

45,866-6.35%

46,669-2.16%

46,540-14.40%

46,81215.42%

61,30348.96%

55,08434.22%

50,8659.29%

42,089-10.09%

40,132-8.18%

42,994-4.46%

42,73615.70%

41,483-35.53%

Source: SETSMART

14

28,265 22,192 24,687 25,505 32,565 30,138 25,797 19,798 25,185 20,708 18,179 20,140 20,723 17,989

13,43313,750 11,828 11,681

16,068 14,04114,352

13,03215,778

13,456 12,915 13,578 12,601 14,054

5,3045,196 4,731 4,779

6,0675,606

5,6084,778

5,6364,600 4,566 4,737 4,980 5,170

5,5234,728

5,294 4,846

6,6045,299

5,1074,481

5,6374,426

4,472 4,539 4,433 4,270

Average daily trading value and trading proportion classified by investor types

Unit: million THB

Average daily

Market Activities

53.81% 48.38% 53.05% 54.48% 53.12% 54.71% 50.72% 47.04% 48.21% 47.95% 45.30% 46.84% 48.49% 43.36%

25.57% 29.98% 25.42% 24.95% 26.21% 25.49% 28.22% 30.96% 30.21% 31.16% 32.18% 31.58% 29.49% 33.88%

10.10% 11.33% 10.17% 10.21% 9.90% 10.18% 11.03% 11.35% 10.79% 10.65% 11.38% 11.02% 11.65% 12.46%10.52% 10.31% 11.37% 10.35% 10.77% 9.62% 10.04% 10.65% 10.79% 10.25% 11.14% 10.56% 10.37% 10.29%

2016 2017

(YTD)

Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Feb 17 Mar 17 Apr 17 May 17 Jun 17 Jul 17

Local Investors Foreign Investors Local Institutions Proprietary Trading

15

Unit: percent

53,52653,526 45,86645,866 46,54046,540

Average daily

trading value 46,81246,812

Source: SETSMART, Data as of Jul 31, 2017

61,30361,303 50,86550,86555,69355,693 52,23652,236 44,25844,258 40,13240,132 42,99442,994 42,73642,73642,08942,089 41,48341,483

Market Activities

-48,528

6,53746,565

-4,574


Unit: million THB

Net trading position classified by investor type (YTD)

Unit: million THB

78,546 6,537 18,398 17,580 97,293

-54,725

6,371 6,652 5,454

-628 -6,486

2016 2017

(YTD)

Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 May 17 Jun 17 Jul 17

Source: SETSMART; Data as of Jul 31, 2017 16


Net trading value of foreign investors

Market Activities

SET10

SET11-30

SET31-50

SET51-100

Non SET100 and mai

Proportion of trading value by market cap

Unit: percent , data as of Jul 31, 2017

28% 25%37% 30% 25% 23% 24% 25% 24% 30%

21% 18%22%

20% 22% 21% 18% 17% 16%19%

9% 11%

13%12% 11% 8% 11% 12% 12%

12%12% 13%

11%13% 13% 12% 12% 14% 15%

13%

30% 33%18% 25% 30% 35% 35% 32% 33% 27%

Proportion of trading value by sector

Unit: percent , data as of Jul 31, 2017

Source: SETSMART

46,540Daily average trading value (Unit: million THB) 46,81245,866 61,303

17

18% 19% 17% 18% 14%22% 17% 20% 21% 21%

13% 13% 15% 13%14%

11%12% 12% 11% 15%

14% 9%20%

13% 13%10%

11% 8% 9%9%

8%7%

7%8% 10% 8%

7% 6% 8%8%

7%7%

5%7% 7% 8%

7% 6% 5%7%

6%7%

4%5% 6% 7%

6% 7% 7%6%

5%5%

6%5% 6% 4%

5% 5% 5%4%

2% 4%2%

2% 2% 3%5% 3%

3% 4%4% 3%4%

4% 4% 3% 3%2%

3% 2%

23% 27%19% 25% 25% 24% 27% 32% 27% 24%

2016 2017 (YTD) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 Jun 17 Jul 17

CommerceTransportation

Bank

Information & Communication Technology

Energy

Construction materialsFood & Beverage

Others

55,693 50,86553,526 42,089

FinanceConstruction

42,736 41,483

Market Activities

Type Yearly % YoY Quarterly Monthly

2016 2016 (7M) 2017 (7M) 1/2016 2/2016 3/2016 4/2016 1/2017 2/2017 May 17 Jun 17 Jul 17

Initial Public Offering 52,781 13,233 43,167 226.21% 1,356 9,195 11,062 31,168 2,346 29,949 2,763 - 10,871

Secondary Offering 199,529 147,442 94,712 -35.76% 13,814 75,407 93,821 16,487 25,314 34,498 20,288 12,342 34,901

- Public Offering 1,339 - 1,351 n.a. - - - 1,339 - 1,351 - 1,351 -

- Private Placement 20,245 11,511 47,769 314.99% 8,484 1,538 1,712 8,511 21,038 4,100 533 2,631 22,631

- Convertible Bond - - - n.a. - - - - - - - - -

- Warrant 63,672 53,275 16,274 -69.45% 1,692 51,328 7,445 3,207 1,740 2,486 517 1,100 12,048

- Right Offering 114,272 82,656 29,319 -64.53% 3,637 22,541 84,664 3,430 2,536 26,562 19,238 7,260 221

Unit: million THBFund raising value New IPOs:

1. B. Grimm Power Plc.

Value 10,428.80

million baht

2. Firetrade Engineering

plc. Value 442.50

million baht

Source: SET; Data as of August 15, 2017. 18

Accumulated 7 month fund raising value 2017

Grand Total 252,310 160,675 137,879 -14.19% 15,170 84,602 104,884 47,655 27,660 64,447 23,050 12,342 45,772

Accumulated fund raising value in July 2017

Property

48,443

Resources

31,941

mai

11,499

Financials

22,805

Industrials

16,532

Services

4,369

Technology

1,340

Others

950 Property

5,517

Resources

10,429

mai

839

Financials

16,599

Services

459

Number of active investors and active rate* Unit: No. of accounts (LHS); % active rate (RHS)

Market Activities

311,907 335,302 330,045375,550 404,088 389,320 394,105 370,530 336,901 384,835 366,720 358,135 323,271 351,170 351,331

26.2% 25.7% 25.4%28.8% 30.7% 29.3% 29.6% 27.6%

24.9%28.2% 26.6% 25.7%

23.1% 24.8% 24.6%

0%

10%

20%

30%

40%

0

200,000

400,000

600,000

800,000

clients active rate

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 August 1,2017 19

0%0

2015 2016 Jun 16 Jul 16 Aug 16 Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17

2015 20162016 2017

Jun Jul** Aug Sep Oct Nov Dec Jan Feb Mar Apr May June

Number of investors (accounts) 1,244,9072 1,353,2252 1,301,988 1,305,560 1,318,586 1,330,666 1,331,512 1,344,897 1,353,225 1,364,720 1,376,839 1,391,818 1,402,234 1,414,331 1,426,178

% YoY of Number of accounts 13.3%2 8.7% 2 9.4% 8.5% 8.5% 8.1% 7.3% 7.4% 8.2% 8.7% 9.3% 9.5% 9.6% 9.7% 9.5%

Trading Value / Accounts

(Million baht)

2.872 3.182 3.38 3.08 3.39 3.27 3.22 3.43 2.59 3.03 2.71 2.77 2.11 2.57 2.68

% YoY of trading value /

Accounts -10.8% 10.8% 21.0% 20.5% 18.9% 8.0% 1.7% 26.0% -11.1% -8.7% -15.2% -30.7% -18.7% -2.9% -20.8%

1 1

Market Activities

224,726 235,570 237,887 258,352 281,135 273,205 274,319 257,634 234,997269,618

257,421 251,161 244,579 244,637 243,864

16% 5% 9% 13% 22% 33% 34% 21% 15% 43% 38% 17% 10% 14% 3%-100%

0%

100%

200%

300%

0

100,000

200,000

300,000


Number of active internet investor’s account Unit: No. of accounts (LHS); %YoY (RHS)

1 1

Internet Trading Value Unit: million THB (LHS); %YoY (RHS)

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 August 1, 2017.

20

339,746 372,805 391,807410,638 493,252 427,125 428,821 478,158

320,529

425,657

325,478 320,370204,788

285,124 310,820

-2% 10% 27% 37% 42% 26% 22% 56% 12% 41% 13% -22% -18%5% -21%

-200%-100%0%100%200%300%

0

200,000

400,000

600,000


% Internet trading value 20152 20162 Jun 16 Jul 16 Aug 16* Sep 16 Oct 16 Nov 16 Dec 16 Jan 17 Feb 17 Mar 17 Apr 17 May 17 Jun 17

Comparing with total trading value (%) 37.9 34.9 35.1 35.5 36.0 33.6 33.7 37.6 36.7 36.5 32.8 32.3 30.0 31.6 33.1

Comparing with trading value of local investors,

excludes local institution (%)

64.0 64.9 61.7 63.9 66.3 67.6 63.6 63.4 67.5 66.0 68.0 67.3 66.3 67.4 68.2

Internet Trading Value

1 1

Fund type

2015 2016 Apr 17 May 17 Jun 17 Jul 17

Equity Fund 979,386 1,141,779 1,164,935 1,161,882 1,160,173 1,155,886 1.2% 24.1%

Fixed Income Fund 2,239,040 2,508,995 2,570,563 2,565,819 2,555,240 2,605,640 3.9% 54.4%

Mixed Fund 115,564 297,695 303,258 317,573 329,930 324,363 9.0% 6.8%

Property Fund 286,408 287,629 288,610 291,218 292,951 298,095 3.6% 6.2%

Infrastructure fund 219,767 235,937 244,400 244,372 242,735 244,311 3.5% 5.1%

Net asset value

End of year End of Month%YTD % proportion

Asset under management

Market Activities

Unit: million THB; as of Jul 31, 2017

Infrastructure fund 219,767 235,937 244,400 244,372 242,735 244,311 3.5% 5.1%

Others 134,796 87,511 133,839 142,517 154,024 161,577 84.6% 3.4%

Total 3,974,960 4,559,545 4,705,605 4,723,381 4,735,052 4,789,872 5.1% 100.0%

Domestic Equity Fund (Exclude Vayupak Fund) 519,973 619,808 626,448 627,653 633,129 628,745 1.4% 54.4%

Vayupak Fund 233,207 328,726 345,249 345,268 338,789 338,395 2.9% 29.3%

Foreign Equity Fund 226,206 193,245 193,238 187,253 188,255 188,746 -2.3% 16.3%

Total 979,386 1,141,779 1,164,935 1,160,173 1,160,173 1,155,886 1.2% 100.0%

Long-Term Equity Fund (LTF) 277,313 337,392 328,914 328,812 330,810 330,288 -2.1% 28.6%

Retirement Mutual Fund - Equity (RMFEQ) 54,209 73,467 75,800 76,166 77,876 77,991 6.2% 6.7%

Trigger Equity Fund 20,610 18,859 14,345 12,308 9,553 7,791 -58.7% 0.7%

Other Equity fund 394,047 383,334 400,627 404,098 403,146 401,421 4.7% 34.7%

Vayupak Fund 233,207 328,726 345,249 338,789 338,789 338,395 2.9% 29.3%

Total 979,386 1,141,779 1,164,935 1,160,173 1,160,173 1,155,886 1.2% 100.0%

Equity fund classified by destination

Equity fund classified by special fund group

Source: Summation of Asset Size by Classification report, Association of Investment Management Companies

Note: In Jan 2017, AIMC adjusted fund type of 1 Mixed funds to Others fund 21

Average daily trading contract classified by instruments

Unit: contracts; Data as of Jul 31, 2017

2016 2017

(YTD)

%YOY3 Q2/16 Q3/16 Q4/16 Q1/17 Q2/17 %QOQ4 Jun 17 Jul 17 %MOM5

SET50 Index Futures1

131,938 92,148 -30.16% 120,229 142,120 126,844 100,757 90,324 -10.35% 101,655 69,817 -31.32%

SET50 Index Options 1,757 3,158 79.70% 1,358 2,305 2,008 2,450 3,151 28.61% 3,433 5,492 59.97%

Single Stock Futures 138,634 166,571 20.15% 107,834 214,386 159,796 189,815 157,628 -16.96% 179,539 118,959 -33.74%

Note1 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.

Market Activities: TFEX

Single Stock Futures 138,634 166,571 20.15% 107,834 214,386 159,796 189,815 157,628 -16.96% 179,539 118,959 -33.74%

50 Baht Gold Futures 747 671 -10.11% 659 478 1,083 693 622 -10.25% 764 756 -1.13%

10 Baht Gold Futures1

11,155 11,335 1.62% 11,699 10,523 10,190 9,093 13,209 45.27% 17,269 12,738 -26.24%

Interest Rate Futures1

- - n.a. - - - - - n.a. - - n.a.

Silver Futures1- - n.a. - - - - - n.a. - - n.a.

Brent Crude Oil Futures1119 - n.a. 122 41 - - - n.a. - - n.a.

USD Futures1838 1,124 34.12% 524 758 1,084 907 1,244 37.16% 1,358 1,451 6.91%

Sector Index Futures1- - n.a. - - - - - n.a. - - n.a.

Agricultural Futures6, 71 39 3,275.21% 2 2 - 7 55 685.71% 101 96 -4.51%

All Products2

285,189 275,047 -3.56% 242,426 370,614 301,006 303,721 266,234 -12.34% 304,119 209,310 -31.17%

Source: SETSMART

each instrument.3 Calculated from the average daily trading

volume of year 2016 with year 2017 (YTD).4 Calculated from the average daily trading

volume in Q2/2017 with Q1/2017.5 Calculated from the average daily trading

volume in July 2017 compared with June

2017.6 TFEX ready for first agricultural trading

"RSS3 Futures" on Feb 15, 2016

22

600

700

800

900

MSCI ASEAN

6,500

7,000

7,500

8,000

UK: FTSE100

20,00020,50021,00021,50022,000

US: Down Jones

Appendix

Index movement

+10.7% YTD

+2.5% MTD

+16.4% YTD

+2.3% MTD

Data as of Jun 31, 2017

+3.2% YTD

+0.8%MTD 600

1-Ja

n

1-Feb

1-M

ar

1-Apr

1-M

ay

1-Ju

n

1-Ju

l

1,500

1,600

1-Ja

n

1-Feb

1-M

ar

1-Apr

1-M

ay

1-Ju

n

1-Ju

l

TH: SET

17,000

18,000

19,000

20,000

21,0001-

Jan

1-Feb

1-M

ar

1-Apr

1-M

ay

1-Ju

n

1-Ju

l

JP: Nikkei

3,000

3,200

3,400

3,600

3,800

1-Ja

n

1-Feb

1-M

ar

1-Apr

1-M

ay

1-Ju

n

1-Ju

l

CN: SHSZ300

6,500

1-Ja

n

1-Feb

1-M

ar

1-Apr

1-M

ay

1-Ju

n

1-Ju

l19,50020,000

1-Ja

n

1-Feb

1-M

ar

1-Apr

1-M

ay

1-Ju

n

1-Ju

l

23

+2.5% MTD+2.3% MTD

+4.2% YTD

-0.5% MTD

+ 12.9% YTD

+1.9% MTD

+0.8%MTD

+2.1% YTD

+0.1%MTD

Source: Bloomberg

2,000

3,000

4,000

Rubber

1,000

1,100

1,200

1,300

Gold

30

40

50

60

Crude oil

Appendix

Commodities price movement

-6.6% YTD

+8.9% MTD

+10.6% YTD

+2.2%MTD

+11.4%YTD

-2.8% MTD

Data as of Jul 31, 2017

(USD/barrel)(USD/ounce) (TOCOM rubber index)

5

10

15

20

25

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

Sugar

350

400

450

500

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

Thai white rice

2,000

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

1,000

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

30

Dec

-16

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

800

1,000

1,200

1,400

1,600

Jan-

17

Feb

-17

Mar

-17

Apr

-17

May

-17

Jun-

17

Tapioca

24

+2.2%MTD

+11.5% YTD

-9.6% MTD

(USD/metric ton) (cents/ pound) (THB/metric ton)

-18.5% YTD

+6.5% MTD

Source: Bloomberg, Office of Agricultural Economics

-23.8% YTD

-2.5% MTD

Appendix

Exchange rate movement

Data as of Jul 31, 2017

-1.8%

1.1%3.1% 4.6% 5.7% 6.3% 7.1% 7.1% 11.2%

+ = Appreciation against USD

%YTD

25

-1.8%

PHP IDR CNY MYR JPY SGD THB GBP EUR

Source: Bloomberg

%MTD

0.0%

0.2% 0.3%0.8%

1.5% 1.5% 1.9% 1.9% 3.5%

PHP IDR MYR CNY GBP SGD THB JPY EUR

Appendix 1 Market Statistics

As end of July 2017 2015 2016 2017 (YTD) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 May 2017 Jun 2017 Jul 2017

SET

SET Index 1,288.02 1,542.94 1,576.08 1,407.70 1,444.99 1,483.21 1,542.94 1,575.11 1,574.74 1,561.66 1,574.74 1,576.08 Market Dividend Yield (%) 3.36 3.04 3.07 3.38 3.29 3.19 3.04 3.13 3.09 3.11 3.09 3.07

Market P/E Ratio 1/ 22.57 18.55 16.38 20.65 21.96 21.76 18.55 17.38 16.32 16.18 16.32 16.38 Market P/BV 1.74 1.96 1.91 1.84 1.86 1.89 1.96 1.93 1.89 1.88 1.89 1.91

Total Turnover Value (M.Baht) 9,997,371.76 12,259,773 6,149,509.99 2,845,608.18 2,559,842.18 3,602,253.63 3,252,068.52 2,996,891.18 2,395,435.55 856,406.29 892,594.30 757,183.26 Daily Turnover Value (M.Baht) 41,141.45 50,245 43,613.55 45,168.38 44,909.51 58,100.87 52,452.72 48,336.95 39,923.93 40,781.25 40,572.47 39,851.75

Number of Listed Securities 1,646 7,207 2,015 1,709 1,781 1,838 1,879 1,891 1,962 1,910 1,962 2,015 Newly Listed Companies 22 11 7.00 1 - 4 6 2 3 1 - 2

Raising value of New Listed Securities (M.Baht) 2/ 179,880.20 135,864 141,989.01 4,320.00 8,148.00 31,230.00 92,166.02 4,620.60 94,929.61 11,050.67 - 42,438.80

Total value of Newly Listed Securities (M.Baht) 3/ 35,306.59 46,868 40,835.35 1,080.00 8,148.00 8,783.73 28,856.51 1,422.44 28,541.61 2,762.67 - 10,871.30 Delisted Listed Companies 9 8 3 1 1 4 2 1 2 - 2 -

No. of Companies moved from mai to SET 3 1 2 - - 1 - 1 - - - 1 No. of Companies moved from SET to mai 1 - 1 - - - - 1 - - - -

Total Capitalization (M.Baht) 12,282,755 15,079,272.11 15,575,690.07 13,407,064.75 13,792,013 14,364,585 15,079,272.11 15,491,497 15,612,755 15,469,337 15,612,755 15,575,690

maimai Index 522.62 616.27 551.03 518.40 527.35 551.74 616.27 597.45 565.71 568.88 565.71 551.03

Market Dividend Yield (%) 1.00 1.24 1.56 1.66 1.60 1.47 1.24 1.44 1.53 1.53 1.53 1.56

Market P/E Ratio 1/ 52.94 63.27 93.08 58.62 62.11 60.31 63.27 90.93 92.13 90.78 92.13 93.08 Market P/BV 3.29 3.82 2.79 3.18 3.19 3.43 3.82 3.05 2.85 2.84 2.85 2.79

Total Turnover Value (M.Baht) 768,097.73 556,487 317,592.91 86,387.58 108,421.30 198,556.69 163,120.94 156,712.91 129,891.07 46,475.77 47,606.41 30,988.93 Daily Turnover Value (M.Baht) 3,160.90 2,280.68 2,252.43 1,371.23 1,902.13 3,202.53 2,630.98 2,527.63 2,164.85 2,213.13 2,163.93 1,631.00

Number of Listed Securities 166 1,047 193 167 175 527 178 184 192 183 192 193 Newly Listed Companies 13 13 5 1 4 4 4 3 2 - - -

Raising value of New Listed Securities (M.Baht) 2/ 18,729.54 10,434.24 1,104.00 3,932.00 7,435.00 9,431.38 3,696.00 6,738.24 - - -

Total value of Newly Listed Securities (M.Baht) 3/ 4,593.83 5,912 2,331.64 276.00 1,047.00 2,278.75 2,310.74 924.00 1,407.64 - - - Delisted Listed Companies - - - - - - - - - - - -

No. of Companies moved from mai to SET 3 1 2 - - 1 - 1 - - - 1 No. of Companies moved from SET to mai - - 1 - - - - 1 - - - -

Total Capitalization (M.Baht) 323,478.44 425,364.18 98,580.52 326,122.79 337,010.33 425,364.18 425,364.18 96,583.13 98,565.26 98,287.89 98,565.26 98,580.52

Appendix 1 Market Statistics

As end of July 2017 2015 2016 2017 (YTD) Q1/2016 Q2/2016 Q3/2016 Q4/2016 Q1/2017 Q2/2017 May 2017 Jun 2017 Jul 2017

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% 100.00% 99.50%

Local Investors 59.21% 53.81% 48.38% 53.05% 54.48% 53.12% 54.71% 50.72% 49.08% 46.84% 48.49% 43.36%Foreign Investors 22.20% 25.57% 29.98% 25.42% 24.95% 26.21% 25.49% 28.22% 29.44% 31.58% 29.49% 33.39%Local Institutions 9.39% 10.10% 11.33% 10.17% 10.21% 9.90% 10.18% 11.03% 11.17% 11.02% 11.65% 12.46%

Proprietary Trading 9.20% 10.52% 10.31% 11.37% 10.35% 10.77% 9.62% 10.04% 10.31% 10.56% 10.37% 10.29%Net Buying Position(M.Baht)

Local Investors 79,895.83 -104,054.06 -48,528.02 -26,756.76 -21,497.55 -58,811.23 3,011.49 -34,362.26 -28,918.98 -5,407.11 -10,509.87 14,752.94Foreign Investors -155,630.70 78,545.98 6,536.88 18,398.01 17,580.17 97,293.38 -54,725.58 6,370.85 6,651.60 5,453.92 -628.42 -6,485.56 Local Institutions 82,133.01 132.09 46,565.45 -6,296.77 2,077.47 -41,078.31 45,429.70 28,422.95 23,011.92 3,232.11 12,390.08 -4,869.42

Proprietary Trading -6,398.13 25,375.98 -4,574.32 14,655.51 1,839.92 2,596.16 6,284.39 -431.53 -744.83 -3,278.92 -1,251.79 -3,397.96 Daily Turnover Value (M.Baht) 44,302.35 52,525.65 45,865.98 46,539.61 46,811.64 61,303.39 55,083.70 50,864.58 42,088.78 42,994.38 42,736.40 41,482.75

Total Capitalization (M.Baht) 12,606,233.14 15,504,636.29 15,674,270.59 13,733,187.54 14,129,023.30 14,789,948.76 15,504,636.29 15,588,080.06 15,711,320.30 15,567,624.66 15,711,320.30 15,674,270.59

Source: The Stock Exchange of ThailandNote:

1/ Historical P/E which calculated from market price of common stock divided / earnign per share2/ Calculated from IPO Price multiplies with number of listed shares3/ Calculated from IPO Price multiplies with IPO shares

SET market report for July 2017...SET News 61/2017 August 21, 2017 SET market report for July 2017 - SET Index closed at 1,576.08 points, up 2.15 pct from end-2016. - Average daily

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