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ASEAN PROFILES ASEAN KEY DESTINATIONS 
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Home >> Daily News >> ASEAN STOCK WATCH
Shayne Heffernan
The Stock Exchange of Thailand (SET) composite index moved down 12.51 points, or 1.64 percent, to close at 749.49 points on Wednesday. Some 3.02 billion shares worth 18.53 billion baht (about 575 million U.S. dollars) changed hands. Political factors took the edge off early gains on the exchange.
Siam Cement SCC fell over 1 percent even though it posted a 32 percent rise in quarterly profit, while top lender Bangkok Bank BBL fell 4.3 percent. TMB Bank TMB rose over 2 percent on reports that the Finance Ministry may sell its stake in the sixth-largest bank.
The political crisis has for the first time triggered foreign selling. Foreign investors were net sellers for a fourth session on Tuesday, offloading 1.95 bilion baht ($60 million) and cutting inflows so far this year to around 42 billion baht. The Thailand Stock Exchange is now Southeast Asia’s second worst performer this year, and is trading at a relatively low forward price-to-earnings ratio of 10.6.
The Malaysia stock market ended lower on Wednesday. The Kuala Lumpur Composite Index (KLCI) was at 1,333.17 down 6. 55 points or 0.49 percent, and the Emas was at 9,023.78 down 48.71 points or 0.54 percent. Turnover decreased to 830.98 million shares valued at 1.12 billion ringgit Malaysia(347.83 million U.S. dollars).
Palm plantation firm IOI Corp (IOIB) fell 0.7 perent, KL Kepong (KLKK) lost 1.4 percent and financial CIMB Group (CIMB) was down 0.7 percent.
The shares prices in Singapore ended 1.99 percent lower on Wednesday amid investors’ concerns over Greece’s debt woes. The benchmark Straits Times Index (STI) fell 59.64 points to close at 2,932.04 points. The overall volume stood at 1.72 billion shares worth 1.80 billion Singapore dollars (about 1.02 billion U. S. dollars).
Keppel Corp (KPLM) down 3.7 percent, Sembcorp Industry (SCIL) down 3.2 percent and ST Engineering (STEG) down 2.2 percent, all trading ex-dividend. Losers also included Singapore Telecommunications
(STEL), which fell 1.3 percent after its Indian affiliate,Bharti Airtel (BRTI), posted a worse-than-expected 8 percent fall in quarterly profit.
Indonesian shares closed lower by 35.980 points, or 1.22 percent to a level of 2,903.319 points on Wednesday. As many as 128,803 transactions were booked Wednesday at a volume of 5.879 billion copies of share worth 4.292 trillion rupiah (about 474.7 million U.S. dollars)
Financials led decliners, with Bank Central Asia (BBCA) down 4.4 percent and Bank Rakyat (BBRI) down 2.3 percent. Bank Rakyat has concluded its acquisition of small plantation bank Bank Agroniaga (AGRO), which dropped 7.4 percent.
Vietnam’s stock market index, VN-Index, closed at 539. 2 points on Wednesday, up 3.48 points, or 0.65 percent, against the previous trading day.
A total of 60.98 million shares worth 2.39 trillion Vietnamese dong (VND) (126.08 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange.
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