IS102

1. 

IS102


2.

3.
-
4.
5. ...
6.  




(Money Market)
 ( 1 )
(Capital Market)
( 1  )
$


4


$  $ (Initial Public Offering) $
 $ 
$

$  $  

SET

..
5

- - ...
.. 2517

 30 2518

...
.. 2535
6


1.

2.
-

3.
-

SET
7

SET Index

$
$ 

$ 

$ 30 2518 100
SET Index = - * 100


-

(2540)
-.

(.. 2540)

-
:

IMF (.. 2540)

 2519  76.43  17 .. 2519

2537  1,753.73  4 .. 2537

(.. 2545)


stress test (.. 2553)
30%
(.. 45-.. 46)
(..
2551)

(.. 2542)


SARS
(.. 2554)
)
(.. 46)

(.. 2542)

)

 (..-.. 46)
(.. 2554)
(.. 2551)
(14 .. 2542)




76
(.. 2544)

(..-.. 47)
)
)

(.. 2552)

MSCI (..
 ) 3
2544)
(..
2554)

)

(..- .. 47)


(11 .. 2544)
(.. 2552)
(.. .. 2554)
.
(.. - .. 47)

 ) 
(.. .. 47)

) 

(.. 2538)

(.. 2535)
) 
(2532)
.
(.. 2534)
Mini Black
Monday
(.. 2532)

(.. 2533)
Black Monday
(.. 2530)

1600
1400

(.. 2524)


)
(2524)

1200
1000
800

(.. 2529)



(2522)

600
400

...
.
(.. 2553)

(.. 2540)

(.. 2538)

1800

Morgan Stanley
overweight
(.. 2553)

(.. 2549)

30%
(.. 2549)

(.. 2528)

200

2554

2553

2552

2551

2550

2549

2548

2547

2546

2545

2544

2543

2542

2541

2540

2539

2538

2537

2536

2535

2534

2533

2532

2531

2530

2529

2528

2527

2526

2525

2524

2523

2522

2521

2520

2519

2518

: SETSMART

 ..??
-
1





5
-

10



11

$

$

12

$ 

/
-

13

14

- Corporate Action
Corporate Action $
$
$
$ ()
Stock
Split

Stock
Dividend

Right
Issue

$ 

*
15

$


 10%



16

 ()

/ x

100 -


17

 -

18

-
$ $ 

$ $ (Underpriced)
-
$ (Overpriced)
-
19

-

 : -
- -


 :

 : (
)



(ABC) XYZ,KAP,MNO,JKL,PQR 
ABC

20

1. (Economic Analysis)

$ $
$

21

-

- $
- $   (Discount Rate)
-  (Open Market Operation)
22


5
Revival
-

4
Depression


1
Expansion

2
Boom

3
Recession

(Gross Domestic Product : GDP)

(Industrial Production)

(Personal Income)


(Consumer Price Index)


(Producer Price Index)

(Unemployment Rate)

 

(Retail Sales)
23

2. (Industry Analysis)

$
$ $

24

 (Industry Life Cycle)

25

$ 4

(Pure Competitions)

$ (Imperfect Competitions)

(Oligopoly)

(Monopoly)
26

3. (Company Analysis)
$
$ $ 

(Qualitative Analysis)

(Quantitative Analysis)

27

$ $

28



$
$

29

30

31

32

33

ROE

34

 (Financial Ratio)
1.
(Current Ratio)

2.
 (Receivable Turnover)

$
$

(Inventory Turnover)

3.
(Return on Asset)

* 100

(Return on Equity)

* 100

4.  (Debt Ratio)

(Debt to Equity Ratio)

35

2.

1.

()

()

3.

4. -





( )

($ )

36


$ $
$ 
4
1. Growth Stock: $ $ $
$$ (Under Valued)
2. Defensive Stock: $ $
$$ $
3. Cyclical Stock: $
$
4. Speculative Stock: $
37

$ $

-

38


1.  (Intrinsic Value)

(Dividend Discounted Model)

2. 


(P/E Ratio : PER)


(Price to Book Value : PBV)

39

 (Intrinsic Value)
(Dividend Discounted Model : DDM)

 Discount Cash Flow

$ 
 $

P0 =
$

Dt
D1
D2
+
+
...
+
=
(1 + k s )1 (1 + k s ) 2
(1 + k s )t

Dt

t
t =1 (1 + k s )

P = $
Dt = $ t t = 1,2,3,
ks =  $$ (Required Rate of Return)
40


(P/E Ratio : PER)
P/E Ratio

(EPS)*

$ $


$ $


 $ $ $  $


* (EPS) = -

41

()
P/E Ratio $
 = PER * EPS
$ P/E





$

$

42

 ()
1 (EPS) 3
15
PER = 15 / 3 = 5
$ PER 7
$ PER $$

 $ PER
x EPS $ 21 ( 7 * 3)
43

()
2 ABC (Price) 100 (Earnings Per Share)
20  PER = 100 / 20 = 5 ABC $
 5 $
DEF 200 20
 PER = 200 / 20 = 10 DEF $ 
10 $
$ ABC
DEF
 P/E Ratio 
-  $ P/E Ratio $
$ 
44

 (Price to Book Value : PBV)

$  $

(BPS)*

PBV Ratio

* (Book Value Per Share : BPS)

$  x
$
(BPS) = ()

45

()
PBV $
$  PBV
$

 = PBV * BPS
PBV 

PBV

$

$

$

46

 ()
1 $ 40  4
BPS = 40 / 4 = 10
PBV 1.2
Price = PBV * BPS
= 1.2 * 10 = 12
2 9.85 BPS 4.14

PBV = 9.85 / 4.14 = 2.83
 PBV 3  $
12.42 ( 3 * 4.14)
$ PBV $
$ 
47

-
, ,
Good Company

Good Stock

-
... - ???

(Technical Analysis)
48

$ 
(Buy Signal) (Sell Signal)
- $
$

1. -   (- - )
2. 


3.  - 

49

(Dow Theory)
$ 3

1. /
(Primary Trend)

2. (Secondary
Trend)

3. (Minor Trend)

50


$
(Trend) $
$

51


-  
52

  
- 
- 

53

- 

Demand Supply 

54

-

55

 $


$
$  
$ 
 $

$

 $ $ $

$  $
56

 3 
 1

 2
$

 3
$ 
$
57




 0.18 - 1%

 0.11 - 1%

-
()

Commission
*
(%)

Cash Account

Cash Balance/Credit Balance

X < 5

> 0.25-1

> 0.20-1

> 0.15-1

5 < X < 10

> 0.22-1

> 0.18-1

> 0.13-1

10 < X < 20

> 0.18-1

> 0.15-1

> 0.11-1

X > 20

Commission
* (%)

 1

*
$ VAT 7%
** $ Commission   $ 1 .. 53
58

-
(Cash Account)



(Cash Balance/Pre-paid/ Cash Deposit)

$






( ATS-Automatic Transfer System)

$





 **



$
15-20%

Broker
 $

$
 $

**   Broker $
59

- -
(Margin Account)

$  $
$

$ 
 $

$ 
$

60


 -


1.
2.
3.
4.
5.
6.

- 


$ 

$
Price Then Time Priority
Ceiling & Floor

$ 

61

- -
: ()
: 9.30 17.00 .
9.30

Pre Opening I

T1

12.30

Trading Session I

T2

14.00

Intermission

Pre Opening II

T3

16.30

Afternoon Trading
Session

Call
Market

17.00

Off-hour
Trading and
Market
Runoff
Period

T1 $ $ 9.55 10.00 .
T2 $ $ 14.25 14.30 .
T3 $ $ 16.35 16.40 .
62

 -

-
(SET CONNECT)

63

 -
Automatic Order Matching (AOM)

(Price Then Time Priority)


-




-

-
1

 -

 - (Bid)

SET CONNECT

Advanced Resilience Matching

System


 

 
1

 -


(Offer)

 Ceiling/Floor
- (-  1 Board Lot = 100 )
64

 Price Then Time Priority

Vol

Bid

Time

Vol

Offer

Time

1,000

100

11:05

1,500

101

11:03

1,500

100

11:06

1,000

101

11:04

1,000

99.5

11:07

1,000

102

11:05

3,500

99

11:10

2,500

103

11:06

65

 Price Then Time Priority

Vol

Bid Offer Vol

1,000 100

101 1,500

1,000 99.5

102 1,000

3,500

103 2,500

Vol

99

Bid Offer Vol

500 102
1,500 100
1,000 99.5
3,500 99

103 2,500

Bid 100
500
-
- Bid 
100

Vol

Bid Offer

Vol

1,500 100

101 1,500

1,000 99.5

102 1,000

3,500

103 2,500

99


Bid 101
Bid 102
1,000  101
2,000
-


101 102
-  500
- Bid  102

Vol

Bid Offer

1,500

100

101

Vol

500

1,000 99.5

102 1,000

3,500

103 2,500

99

66

 (Price Spread)
$  

0.01

0.02

10

0.05

10

25

0.10

25

100

0.25

100

200

0.50

200

400

1.00

400

2.00

67

$
30%
(Close)

Ceiling & Floor

Price Spread

Price Spread
1

PTT

100

321
68


 -

$  $ (Limit Price Order)

$  $ $ (  / )

$  $ $

At-the-open order (ATO) First

At-the-close order (ATC) Priority
Special Market Price (MP)
Immediate or Cancel (IOC)
Fill or Kill (FOK)
Iceberg Volume

** Internet Trading
$ 



(Pre-Open)

 -
-
 -
-  ATO

-
(Market Open)

-
 -.

(Pre-close)

-
 -

(Market Close)**

-
 -

-  MP
-  ATC

69

- (Trading Boards)

(.SET):  $ $
 (Board Lot)

(Big Lot Board):   1

   3 

(.FOREIGN): 

(Odd Lot Board):  $ 1

 (Board Lot)

: 
x 
70

- 
1. XD (Excluding Dividend): 
2. XI (Excluding Interest):  
3. XR (Excluding Right):  
4. XW (Excluding Warrants):  $ 

5. XS (Ex Short-term Warrant): 

 
6. XT (Ex Transferable Subscription Right):   $
$
71

-  ()
7. XA (Excluding All):  $ 
8. NP (Notice Pending):

9. NR (Notice Received): 
$  $ NP  $ NR 1
10. SP (Suspension): 
$

$
11. H (Halt): 
$

$

72

..

 

 
 

--
73

()

$

$ 

 $* 
-
-
- iPhone Smart Phone

* $ $ www.settrade.com
74

-


($ $
)
3-6 ( )
30
75

-
Login Username Password  Broker 
Login 2
Broker  URL 
www.maybank-ke.com, www.bualuang.com
www.settrade.com ( STT $
)

76

1.  Login

$
$  Online Trading

77

2. Place Order
 -
-

PTT

100

328

PIN

Submit

 - pop-up

SCC

100

460

PIN

Submit

78

3.
 -
Submit
$ 

$ Buy / Sell $
$
 
$

79

4.
 -
1
1.
$ $ Cancel

2. PIN No.
3. Confirm Cancel
4.
$

4
80

5. Portfolio
/

81

6.
 - 3-Bid 3-Offer

$
 (Bid)
$
(Offer) 3

  $

82

7. Ticker
Market Sentiment  

83

8. Quote 


$ 

84

9. Set Preference -

85

 



$ (Good Advice)



$  $ $ (Best Execution)

$


 $ 
$ $  $ /

86

 ()
 CLASS
C Capital
$
$
L License
$
 ...
A Advice
/ $
S System & Control $

S Staff
$

87




$ $



$

$

 ( Confirm) (Statement)

Back Office


$
88

 

$  $ $ ()
1.
2. $   $ $  $

3.  Confirm Statement $
 Back Office
4.  
5. $ $ Back Office 
89

 ()
DONTs ... 
1. $ 
$
2. $
 $ $
3.
$  $
4. $ (Blank Form)
5.
$
6. $
7. $ $

90

 

1. :
2.  :

3. : 

$ / /
$ $ $

91


1. $
/
$ / $$

2. $
3. $
4.
92