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ASEAN STOCK WATCH Asean Affairs   4 April 2012

4 April 2012

By Shayne Heffernan Ph.D.

ASEAN Stocks will move lower today after an indication from the US Federal Reserve that there will not be a new round of stimulus in the near future.

Markets will now become laser focused on Friday’s March employment report which is expected to show a fourth month of 200,000 plus gains in nonfarm payrolls. Economists also believe it will be an important part of what the Fed considers when it heads into its April meeting.

There are expectations that the Fed could extend or announce the end of its “operation twist” program at the April 24, 25 meeting. The ‘twist’ program is set to end in June and involves the purchase of longer dated Treasury securities by the Fed, and the sale of an equal amount of shorter duration securities, a process aimed at lowering long term rates.

Dow Jones 13,199.55     -64.94     (-0.49%)
S&P 500   1,413.31     -5.73     (-0.40%)
Nasdaq      3,113.57     -6.13     (-0.20%)

There is still a lot of confidence in ASEAN today I would be looking to buy in the Oil Palm Sector, the Bumitama Agri IPO has brought renewed interest to the Palm Oil industry and Thailand, Malaysia, Singapore and Indonesia have great Palm Oil companies worth buying.

Yesterday in Asia

Asian stock markets closed higher on Tuesday following a bright lead from Wall Street on strong US manufacturing data. US manufacturing activity accelerated in March, with the closely watched Institute for Supply Management purchasing managers index (PMI) hitting 53.2 last month, up from 52.4 in February.

Singapore shares closed 0.04 percent lower Tuesday, despite the stronger-than-expected U.S. factory data that pushed Wall Street overnight to four-year high. The Institute for Supply Management reported the pace of growth in the U.S. manufacturing sector picked up to 53.4 in March from 52.4 in February, above 53.0 forecast by analysts.

Hong Kong shares ended 1.31 percent higher on Tuesday, led by a jump in properties heavyweights. The benchmark Hang Seng index closed up 268.72 points, or 1.31 percent, to end at 20,790.98 points, after trading between a day low of 20,588.20 and a day high of 20,816.09 points.

Taiwan's share prices closed lower on Tuesday with the weighted index down 102.05 points, or 1. 29 percent, to 7,760.85, according to news reaching here from Taipei. Turnover totaled 106.3 billion new Taiwan dollars (about 3.6 billion U.S. dollars) during the trading session.

The Stock Exchange of Thailand main index went up 11.98 points or 1.00% to close at 1,211.07 points at the end of trading session on Tuesday afternoon. The trade value was 30.37 billion baht, with 3.71 billion shares traded.

BBL          stood at    190.50 baht, up 5.00 baht (2.70%)
PTT         stood at    359.00 baht, up 2.00 baht (0.56%)
KBANK      stood at    161.00 baht, up 5.00 baht (3.21%)
PTTEP      stood at    179.50 baht, up 3.00 baht (1.70%)
SCB          stood at     149.00 baht, up 6.00 baht (4.20%)

The Jakarta Composite Index gained 49.37 points, or 1.2 percent, to 4,215.44. That eclipsed the last record closing high, set on Aug. 1 at 4,193.44.

The stock measure’s biggest gainer was Danamon, up 39 percent at Rp 6,400, its highest close since March 23, 2011. DBS is set to acquire all of Danamon in one of Indonesia’s biggest takeover deals. Danamon was suspended from trading on Monday.

The main-share Philippine Stock Exchange index shed 54.38 points or 1.06 percent to finish at 5,056.48.

All counters were in the red but the steepest decline was posted by the financial and holding firm counters which fell by 2 percent and 1.3 percent, respectively.  These counters were in turn weighed down most by BDO (-6.95 percent to P60.95) and its parent conglomerate SM Investments (-5.9 percent to P640).

Malaysia's stock market hit a new high yesterday with the FTSE Bursa Malaysia KLCI (FBM KLCI) reaching 1,603.96 after the main index rose 0.47% or 7.45 points.

The volume of shares traded was moderate at 1.445 billion with a turnover valued at RM1.403bil. Gainers edged losers by 400 versus 353 while 324 counters remained unchanged.

Compared with the region, the FBM KLCI was one of the topperformers. Japan's Nikkei 225 index was the underperformer, falling 0.16% to 20,522.26.

The Australian share market failed to hold onto early gains as disappointing local economic data overshadowed better-than-expected manufacturing figures from China.

The benchmark S&P/ASX200 index finished down 5.9 points, or 0.14 per cent, at 4,329.3 points, while the broader All Ordinaries index eased 3.6 points, or 0.08 per cent, to 4,416.4 points.

Shayne Heffernan oversees the management of funds for institutions and high net worth individuals.

Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services

Shayne Heffernan Ph.D.  
Linda Johnson, Business Development Director - Private Client Group, Heffernan Capital Management
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408 Fax: +65 6329 9699
Email :
Suite 53 Athenee Tower
63 Wireless Road, Lumpini, Pathumwan, Bangkok 10330
New York 347 5th Avenue, Suite 1402-508 NY, NY 10016


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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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