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ASEAN STOCK WATCH 24 April 2010

Shayne Heffernan
www.livetradingnews.com

ASEAN Stocks are ready to extend gains in the coming week after Wall St managed to break a key resistance level in Friday trading.

The Stock Exchange of Thailand (SET) composite index moved down 6.60 points, or 0.87 percent, to close at 754.58 points on Friday.Some 1.80 billion shares worth 18.13 billion baht (about 566 million U.S. dollars) changed hands. Thailand’s stock market fell nearly 2 percent at one stage on Friday as the country’s top broker warned escalating political violence could lead to civil war and anyone buying Thai shares now was taking “a huge risk”. Shayne Heffernan of Ebeling Heffernan remains confident saying buy quality Thai stocks now and you will do very well long term.

Riot police confronted “red shirt” anti-government protesters at a barricade in Bangkok’s business district on Friday, a day after grenade attacks in the area killed at least one person, but pulled back without violence.

The market’s biggest stocks were among fallers on Friday, with a 1.6 percent fall in top energy firm PTT PTT.BK, 3.2 percent in third-largest lender Siam Commercial Bank SCB and a 1.3 percent fall in top lender Bangkok Bank BBL.

Retailers and hotel operators, especially those with operations in protest areas, continued to suffer. Hotelier Erawan Group ERAW, which runs the Grand Hyatt Erawan, slid 3.6 percent, while hypermarket group Big C Supercenter BIGC fell 1.2 percent after it said it would relocate its head office from the Rachaprasong area. ($1=32.17 Baht)

The Malaysia stock market ended lower here on Friday.

The Kuala Lumpur Composite Index (KLCI) was at 1,336.78 down 0. 23 of a point or 0.02 percent, and the Emas was at 9,074.47 down 5. 78 points or 0.06 percent. Turnover decreased to 817.18 million shares valued at 941.37 million ringgit Malaysia (294.82 million U.S. dollars).

Indonesian shares closed lower on Friday, triggered by heavy selling on big capitalized shares.The market index fell 1.8 points or 0.06 percent to 2,924.731 with transaction volume of 4.645 billion shares worth 3.206 trillion rupiah (about 355.7 million U.S. dollars).Trading was quiet on Friday, with only 4.6 billion shares worth Rp 3.2 trillion ($355.2 million) changing hands. Decliners outnumbered gainers 108 to 86.

Cece Ridwanulloh, an analyst at PT Ekokapital Sekuritas, said demand for commodities, especially crude oil, fell after Moody’s Investors Service downgraded Greece’s debt rating on Thursday, prompting a sell-off in local commodity stocks.

Edwin J Sebayang, the head of research of PT Bhakti Securities, said the absence of positive news on the domestic front, coupled with the decline in oil prices, pressured the JCI in morning trading, but longer-term investors took the opportunity to buy shares in companies that had reported stronger-than-expected first-quarter earnings.

The rupiah was little changed, trading at 9,011 to the US dollar as of the stock market’s close, compared with 9,013 on Thursday.

Enrico Tanuwidjaja, a regional economist at OSK-DMG in Singapore, said the central bank was limiting the rupiah’s gains after it touched a 33-month high on Wednesday.

On the JCI, coal miner PT Bumi Resources lost 1.1 percent, while PT Adaro Energy fell 2.2 percent.

PT Aneka Tambang dropped 3 percent.

Crude oil fell as much as 0.4 percent to $83.37 before trading at $83.68 on Friday.

Bucking the trend on Friday were Bimantara group stocks. PT Media Nusantara Citra jumped 12 percent after reporting that its first-quarter net profit more than doubled from a year earlier, while PT Global Mediacom surged 8.9 percent after reporting that its profit more than tripled.

The shares prices in Singapore rose 7.8 points or 0.26 percent on Friday with the benchmark Straits Times Index (STI) closing at 2,988.49 points. The overall volume stood at 1.73 billion shares worth 1.41 billion Singapore dollars (about 1.03 billion U.S. dollars).

Philippine stocks closed 0.21 percent higher on Friday. The benchmark Philippine Stock Exchange index increased by 6.88 points to 3,244.45. The all-share index went up by 7.06 points, or 0.35 percent, to 2,017.92. The trade volume reached 1.001 billion shares worth 3.80 billion pesos (85.64 million U.S. dollars).

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12,073.72
+0.00 (0.00%)
+30.57%
Apr 22, 5:30pm
flag
Mexican Bolsa IPC Index
33,734.72
+217.54 (0.65%)
+59.00%
Apr 23, 3:00pm
flag
Brazil Bovespa Index
69,370.73
-15.68 (-0.02%)
+56.12%
Apr 23, 3:00pm
flag
Argentina Merval Index
2,436.42
+5.95 (0.24%)
+99.65%
Apr 23, 3:00pm
flag
Chile IPSA Index
3,842.68
+9.08 (0.24%)
+44.07%
Apr 23, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,914.46
-34.63 (-0.32%)
+25.29%
Apr 23, 3:00pm
flag
ASX All Ordinaries
4,913.50
-23.30 (-0.47%)
+35.24%
Apr 23, 3:00pm
flag
Seoul Composite
1,737.03
-2.49 (-0.14%)
+29.94%
Apr 23, 3:00pm
flag
Hong Kong Hang Seng
21,244.49
-210.45 (-0.98%)
+38.98%
Apr 23, 3:00pm
flag
Shanghai
2,983.54
-15.95 (-0.53%)
+17.66%
Apr 23, 3:00pm
flag
Taiwan Weighted
8,004.89
+26.20 (0.33%)
+36.10%
Apr 23, 3:00pm
flag
Singapore Straits Times
2,988.49
+7.80 (0.26%)
+58.35%
Apr 23, 3:00pm
flag
Bombay Sensex Index
17,694.20
+120.21 (0.68%)
+62.36%
Apr 23, 3:00pm
flag
Jakarta Composite
2,924.73
-1.80 (-0.06%)
+79.56%
Apr 23, 3:00pm
flag
Kuala Lumpur Composite
1,336.78
-0.23 (-0.02%)
+38.30%
Apr 23, 3:00pm
flag
PSE Composite
3,244.45
+6.88 (0.21%)
+58.31%
Apr 23, 3:00pm
flag
Sri Lanka All Share
4,121.64
+44.09 (1.08%)
+134.99%
Apr 23, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,723.65
+58.32 (1.03%)
+43.54%
Apr 23, 3:00pm
flag
Paris CAC 40
3,951.30
+26.65 (0.68%)
+32.86%
Apr 23, 3:00pm
flag
Frankfurt Index
6,259.53
+90.81 (1.47%)
+39.05%
Apr 23, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+12.09%
Apr 22, 5:30pm
flag
Belgium 20 Index
2,644.14
+13.20 (0.50%)
+40.34%
Apr 23, 3:00pm
flag
Swiss Market Index
6,767.97
+47.88 (0.71%)
+33.31%
Apr 23, 3:00pm
flag
OSE Norway All Share
441.89
+3.81 (0.87%)
+57.22%
Apr 23, 3:00pm
flag
ATX Vienna
2,731.03
+29.93 (1.11%)
+50.14%
Apr 23, 3:00pm
flag
Amsterdam Total Return General
353.38
+2.07 (0.59%)
+50.55%
Apr 23, 3:00pm
flag
Madrid General
1,130.44
+9.85 (0.88%)
+25.27%
Apr 23, 3:00pm
flag
Stockholm General Index
336.97
+8.24 (2.51%)
+47.69%
Apr 23, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,129.71
+0.00 (0.00%)
+63.83%
Apr 23, 3:36am
flag
TEL-TECH INDEX
318.35
+0.00 (0.00%)
+73.48%
Apr 23, 2:15am
flag
TEL-TECH-15 INDEX
275.49
+0.00 (0.00%)
+64.65%
Apr 23, 2:15am

 


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