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ASEAN STOCK WATCH 22 April 2010

Shayne Heffernan
www.livetradingnews.com

Over night in the USA the Dow Jones industrial average shed 20.55 points, or 0.18 percent, to 11,096.51. The Standard & Poor’s 500 Index .SPX dipped 4.72 points, or 0.39 percent, to 1,202.45. The Nasdaq Composite Index lost 1.86 points, or 0.07 percent, to 2,498.45.

On the positive side, Morgan Stanley (MS) shares climbed 4 percent to $31.66 after posting a stronger-than-expected profit on strong fixed income trading. The KBW Banks index edged up 0.5 percent.

Apple Inc. (AAPL) shares advanced 6 percent to $258.94, a day after the technology bellwether posted quarterly results that eclipsed expectations on record iPhone sales and forecast strong revenue growth.

Earlier in the session Apple hit an all-time intraday high of $260.25.

But healthcare shares weighed on the market, and Gilead Sciences was the top drag on Nasdaq. Some analysts had downgraded the stock based on uncertainty about implementation of the new healthcare reform law in 2010 and 2011.

This has set up a flat day for ASEAN markets but expect good performances from regional banks, chip makers and technology companies.

The Thailand Stock Exchange is now trading on a price to book valuation of 1.6 times, the cheapest in ASEAN, compared with Indonesia’s 3.4, Malaysia’s 1.9, the Philippines’ 2.0, Singapore’s 1.7 and Vietnam’s 2.5.

Thai stocks fell 1 percent on Wednesday as the market continued volatile because of political unrest in Bangkok, Bangkok posted its biggest one-day gain in 15 months on Tuesday but, despite good bank results and net foreign buying, it turned lower on Wednesday.

The market is taking the view that clashes between Thai troops and anti-government protesters are becoming more certain as each day passes. However, protest leaders said they were willing to hold talks through a third party to avert bloody clashes with troops.

Before Tuesday, the market had fallen 8.23 percent in the previous three sessions after violent clashes between security forces and anti-government protesters on April 10 that claimed 25 lives.

Krung Thai Bank KTB fell 2.3 percent despite a 16 percent increase in first-quarter net profit, and Bank of Ayudhya BAY fell 1.5 percent despite doubled quarterly profit, in line with expectations.

Sentiment in ASEAN was upbeat as listed firms kicked off the results season with favourable quarterly earnings thanks to strength in the regional economy. Indonesia, Philippines and Vietnam ended in positive territory.

In Singapore, top developer CapitaLand (CATL) eased 0.3 percent but Keppel Land (KLAN) rose 2.2 percent after it posted a 75 percent increase in quarterly net profit. Singapore Airlines (SIAL.SI) gained 0.66 percent, reversing recent losses, after it reinstated some flights to and from Europe.

Other airlines in the region were mixed, with Malaysian Airline System (MASM.KL) sliding 0.9 percent but Thai Airways THAI rising 1 percent.

In Kuala Lumpur, chip makers gained, with Unisem (UNSM) up 0.6 percent. Broker AmResearch said it expected Malaysian chip makers to deliver strong results, following Intel’s (INTC) stunning performance last week.

In Jakarta, Astra International (ASII) rose 2.9 percent and sixth-largest lender Bank Danamon (BDMN) rose 2.7 percent following the release a day earlier of figures showing first-quarter net profits up 78 percent

In Manila, Ayala Land (ALI.) and Energy Development (EDC) each gained over 4 percent.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12,073.72
-39.81 (-0.33%)
+32.30%
Apr 21, 4:00pm
flag
Mexican Bolsa IPC Index
33,545.12
-268.04 (-0.79%)
+55.39%
Apr 21, 4:00pm
flag
Brazil Bovespa Index
69,318.44
+220.86 (0.32%)
+56.01%
Apr 21, 4:00pm
flag
Argentina Merval Index
2,422.42
-4.42 (-0.18%)
+103.05%
Apr 21, 4:00pm
flag
Chile IPSA Index
3,830.26
-1.99 (-0.05%)
+45.29%
Apr 21, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
11,090.05
+189.37 (1.74%)
+24.26%
Apr 21, 4:00pm
flag
ASX All Ordinaries
4,980.50
+0.00 (0.00%)
+33.79%
Apr 21, 4:00pm
flag
Seoul Composite
1,747.58
+29.55 (1.72%)
+30.77%
Apr 21, 4:00pm
flag
Hong Kong Hang Seng
21,510.93
-112.45 (-0.52%)
+36.57%
Apr 21, 4:00pm
flag
Shanghai
3,033.28
+53.75 (1.80%)
+18.61%
Apr 21, 4:00pm
flag
Taiwan Weighted
7,990.53
+90.11 (1.14%)
+38.20%
Apr 21, 4:00pm
flag
Singapore Straits Times
2,967.65
-13.72 (-0.46%)
+58.29%
Apr 21, 4:00pm
flag
Bombay Sensex Index
17,472.56
+11.98 (0.07%)
+59.14%
Apr 21, 4:00pm
flag
Jakarta Composite
2,912.83
+0.00 (0.00%)
+75.28%
Apr 21, 4:00pm
flag
Kuala Lumpur Composite
1,333.64
-2.26 (-0.17%)
+37.72%
Apr 21, 4:00pm
flag
PSE Composite
3,204.47
+56.97 (1.81%)
+53.56%
Apr 21, 4:00pm
flag
Sri Lanka All Share
4,038.89
+16.52 (0.41%)
+131.57%
Apr 21, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,723.43
-60.26 (-1.04%)
+43.41%
Apr 21, 4:00pm
flag
Paris CAC 40
3,977.67
-48.98 (-1.22%)
+33.96%
Apr 21, 4:00pm
flag
Frankfurt Index
6,230.38
-33.85 (-0.54%)
+38.88%
Apr 21, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+12.03%
Apr 20, 5:30pm
flag
Belgium 20 Index
2,660.86
-20.21 (-0.75%)
+43.31%
Apr 21, 4:00pm
flag
Swiss Market Index
6,814.71
-27.20 (-0.40%)
+34.54%
Apr 21, 4:00pm
flag
OSE Norway All Share
438.78
-1.03 (-0.23%)
+57.90%
Apr 21, 4:00pm
flag
ATX Vienna
2,744.82
-6.57 (-0.24%)
+49.90%
Apr 21, 4:00pm
flag
Amsterdam Total Return General
353.66
-1.20 (-0.34%)
+51.29%
Apr 21, 4:00pm
flag
Madrid General
1,146.03
-24.43 (-2.09%)
+25.64%
Apr 21, 4:00pm
flag
Stockholm General Index
330.58
-4.02 (-1.20%)
+46.55%
Apr 21, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,135.59
+4.84 (0.43%)
+58.15%
Apr 21, 10:45am
flag
TEL-TECH INDEX
319.48
+2.94 (0.93%)
+69.31%
Apr 21, 10:45am
flag
TEL-TECH-15 INDEX
276.28
+2.64 (0.96%)
+61.51%
Apr 21, 10:45am

 


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