Shayne Heffernan
www.livetradingnews.com
Expect ASEAN Markets to leap forward this morning after a strong session in New York, even Thailand should start to recover today.
The Stock Exchange of Thailand (SET) composite index moved up 3.71 points, or 0.50 percent, to close at 753.20 points on Thursday.
Some 1.41 billion shares worth 13.58 billion baht (about 424 million U.S. dollars) changed hands.
PTT, Thailand’s largest publicly listed company, expects net profit and revenue in 2010 to be higher than last year as the global economic recovery pushes up demand and oil prices, and says its growth will continue in 2011.
For 2011, PTT’s capacity will rise because its sixth gas separation plant and a 1 million tonne ethane cracker operated by PTT Chemical are expected to run fully, while its liquefied natural gas import terminal will be completed next year as planned.
Prasert, who has worked at PTT for 28 years, did not rule out the possibility of the company listing shares on a foreign stock market, but it was not in its short term plan.
Indonesian shares closed higher by 23.541 points, or 0.81 percent, to a level of 2,926.860 points on Thursday. Some 124,765 transactions were booked today at a volume of 6. 843 billion copies of share worth 4,242 trillion rupiah (about 469. 5 million U.S. dollars)
Gainers led losers 148 to 72 with 73 remained stagnant. Analyst of PT Millenium Dana-thama Securities Ahmad Riyadi said in Jakarta Thursday the increase in several property and mining shares had also triggered an increase in index at the Indonesia Stock Exchange (BEI).
“Property and mining shares had been moving positively, plus three-layer shares which had started to move,” he said.
The Malaysia stock market ended higher here on Thursday.
The Kuala Lumpur Composite Index (KLCI) was at 1,335.86 up 2.69 points or 0.20 percent, and the Emas was at 9,040.53 up 16.75 points or 0.19 percent.
Turnover decreased to 898.78 million shares valued at 987.98 million ringgit Malaysia (308.74 million U.S. dollars).
The shares prices in Singapore rose 26.97 points or 0.92 percent on Thursday with the benchmark Straits Times Index (STI) closing at 2,959.01 points.
The overall volume stood at 1.90 billion shares worth 1.63 billion Singapore dollars (about 1.12 billion U.S. dollars).
The broad market, however, was marginally firm, recording 226 rises versus 139 falls, excluding derivatives. Turnover was a moderate 1.9 billion units worth $1.62 billion, excluding foreign currency issues, for an average of 85 cents per unit. A significant portion of the volume came from Genting Singapore, which rose 7.5 cents to 94 cents with 336 million shares traded.
The index had come under severe pressure earlier in the week because of financial market worries over the state of Greece’s finances, worries which have prompted investors to dump Greek sovereign bonds and sending the two-year bond yield surging past 20 per cent.
This has led to fears that other European nations with similar economic problems as Greece, such as Spain and Portugal, might also suffer the same consequences.
Vietnam’s stock market index, VN-Index, closed at 542. 37 points on Thursday, up 3.17 points, or 0.59 percent, against the previous trading day.
A total of 74.88 million shares worth 2.86 trillion Vietnamese dong (VND) (150.92 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange. Prices of 125 stocks went up, 61 dropped while 42 remained unchanged.
Philippine stocks closed 0.37 percent higher on Thursday.
The benchmark Philippine Stock Exchange index increased by 12. 22 points to 3,297.00. The all-share index went up by 8.87 points, or 0.43 percent, to 2,044.43.
The trade volume reached 2.76 billion shares worth 3.23 billion pesos (72.42 million U.S. dollars).
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