ASEAN KEY DESTINATIONS
30 April 2014
The Straits Times Index (STI) ended +26.97 points higher or +0.83% to 3264.71, taking the year-to-date performance to +3.15%.
The FTSE ST Mid Cap Index gained +0.22% while the FTSE ST Small Cap Index declined -0.07%. The top active stocks were DBS (+0.59%), SingTel (+1.32%), UOB (+2.74%), OCBC Bank (+1.90%) and Global Logistic (+2.52%).
The outperforming sectors today were represented by the FTSE ST Telecommunications Index (+1.24%). The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+1.32%) and StarHub (+0.24%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -0.60% with Midas Holdings’ share price remaining unchanged and Geo Energy Resources ’ share price declining -1.67%. The FTSE ST Oil & Gas Index declined -0.16%.
The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (-1.70%), Lyxor ETF Asia EX (-0.64%), IShares USD Asia HY Bond ETF (+0.19%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (+1.27%), CapitaCommercial Trust (+1.59%), Ascendas REIT (+0.44%).
The most active index warrants by value today were HSI22400MBeCW140627 (-28.07%), HSI22400MBePW140529 (+43.62%), HSI22200MBeCW140529 (-36.89%).
The most active stock warrants by value today were DBS MB eCW140901 (+8.18%), KepCorp MBeCW140901 (+1.37%), UOB MB ePW140801 (-18.38%).
Singapore Stock Market
*ST Index 3,264.71 +26.97 3,237.74 -4.97
Volume: 1,675.7M 1,373.5M
Value: $1,632.4M $1,048.6M
Gainers/Losers: 204/206 177/231
Daily Market Commentary (Securities)
30 Apr 2014
The FBM KLCI index gained 12.18 points or 0.66% on Wednesday. The Finance Index increased 0.57% to 17143.53 points, the Properties Index up 0.04% to 1422.25 points and the Plantation Index rose 1.11% to 9085.27 points. The market traded within a range of 14.45 points between an intra-day high of 1871.52 and a low of 1857.07 during the session.
Actively traded stocks include UTOPIA, NEXGRAM-WA, CSL, PDZ, HUBLINE, XINGHE, ASIAPAC, VIS-WA, AIRASIA and VIS. Trading volume decreased to 1506.82 mil shares worth RM2505.31 mil as compared to Tuesday’s 2500.86 mil shares worth RM2202.44 mil.
Leading Movers were MAYBANK (+18 sen to RM9.90), DIGI (+15 sen to RM5.54), IOICORP (+12 sen to RM5.00), SIME (+11 sen to RM9.44) and TM (+15 sen to RM6.20). Lagging Movers were PETCHEM (-7 sen to RM6.73), SKPETRO (-2 sen to RM4.31), GENTING (-3 sen to RM9.80), PBBANK (-2 sen to RM20.14) and UMW (-4 sen to RM10.76). Market breadth was negative with 362 gainers as compared to 419 losers.
The FBM KLCI extended yesterday’s gains to end 12.18 points higher at 1871.52, underpinned by gains in Maybank and DIGI. However, investors remain cautious ahead of US job data and China’s PMI data release as well as US Federal Reserve meeting outcome today.
Indonesia c.bank to keep tight monetary policy in 2014
Indonesia's central bank governor said on Wednesday it will maintain its tight monetary policy for the rest of the year, despite improving trade and inflation data in the first quarter.
Governor Agus Martowardojo said he expected a trade surplus of above $800 million in March, better than the $790 million in the previous month.
"We are optimistic since we will see deflation in April, hence inflation will be around 3.5-5.5 percent. Monetary policy in general will remain tight," Martowardojo told reporters.
The current-account deficit, which hit a record high of 4.4 percent of gross domestic product in the second quarter of 2013, is expected to be around 2 percent of GDP in the first quarter this year, he said.
The central bank is scheduled to hold its monthly interest rate meeting on May 8 and will release its balance of payments data the following day.
Inflation data for April and trade data in March will be released on Friday.
Indonesia sees weaker exchange rate for 2015 budget
Indonesia's proposed 2015 budget assumes an average exchange rate of 11,500-12,000 rupiah to the dollar, weaker than 10,500 rupiah in this year's budget, Finance Minister Chatib Basri said on Wednesday.
The rupiah is currently trading around 11,565.
The minister also said that the proposed budget pegged average crude prices at $100-105 per barrel in 2015, while output will be at between 830,000-9000,000 barrels per day.
Natural gas output is estimated at 1.225-1.250 million barrels of oil equivalent per day, compared with a target of 1.240 million this year.
Earlier, Planning Minister Armida Alisjahbana said the proposed budget assumed economic growth of 5.5-6.3 percent in 2015, with inflation at 3.5-5.5 percent.
As of 30 April 2014 Unit: M.Baht
Type Buy Sell Net
Institution 2,974.86 2,741.07 233.79
Proprietary 2,418.37 3,159.27 -740.90
Foreign 9,961.90 8,091.38 1,870.52
Individual 1 5,443.58 16,806.98 -1,363.41
Total Trading Value 30,798.71 M.Baht
SE Asia Stocks-All up; Malaysia hits 4-month high
All stock markets in Southeast Asia rose on Wednesday on solid corporate earnings, with Malaysia <.KLSE> scaling to its four-month peak on foreign investment inflows.
Gains eclipsed worries about Ukraine after the United States and the European Union imposed more sanctions on Russia for its role in backing the separatist movement in eastern Ukraine.
Malaysia saw a surge in foreign capital inflows as investors went on a buying spree, taking cue from better-than-expected corporate earnings across the region. The Malaysian index rose
for a second day and closed 0.7 percent higher at 1,871.52, its highest since Dec. 31, 2013.
Gains were led by media firm Astro Malaysia Holdings Bhd , which rose 4.1 percent, and telecommunications company DiGi.Com Bhd , which was up 2.8 percent.
Singapore recovered from two-week lows after two of the country's largest banks posted record profits that surpassed expectations. The Straits Times Index gained 0.8 percent after dropping to its lowest since April 14 the previous day.
Shares of UOB Ltd , DBS Ltd and OCBC Ltd trimmed gains made earlier in the day after DBS and OCBC posted profits that easily surpassed market estimates. UOB reported its first-quarter profit after market hours.
Indonesia gained 0.4 percent, while Thailand rose 0.2 percent.
The Philippines stretched gains into a second day, rising 1.1 percent, bolstered by advances in real estate company Megaworld Corp .
All the six markets will be closed on Thursday for a public holiday, while the Vietnam market was closed on Wednesday.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 418.96 417.41 +0.37
Singapore 3264.71 3237.74 +0.83
Kuala Lumpur 1871.52 1859.34 +0.66
Bangkok 1414.94 1412.33 +0.18
Jakarta 4840.15 4819.68 +0.42
Manila 6707.91 6636.45 +1.08
Global stocks mixed after Japan policy unchanged
Global stocks were mixed Wednesday as investors looked ahead to a U.S. Federal Reserve meeting after Japan's central bank left monetary policy unchanged despite signs of weaker economic growth.
Oil fell below $101 as markets shrugged off new sanctions on Russia over the Ukraine crisis.
Tokyo's Nikkei 225 index gained 0.1 percent to close at 14,304.11 after the Bank of Japan avoided changes in its ultra-loose policy despite concern that an April 1 consumption tax hike will sap growth. The Shoko Chukin survey showed business confidence in April sank to its lowest level since February 2013.
"Firms do not expect conditions to recover quickly," Marcel Thieliant of Capital Economics said in a report.
China's benchmark Shanghai Composite Index added 0.3 percent to 2,026.36. Singapore, Bangkok and Manila also rose.
In Europe, France's CAC-40 lost 0.4 percent to 4,479.66, while the Dax in Germany shed 0.2 percent to 9,564.99.
Hong Kong's Hang Seng tumbled 1.3 percent to 22,152.24 after Chinese pork supplier WH Group, which bought U.S. producer Smithfield Foods last year, canceled a planned multibillion-dollar initial public stock offering. It blamed weak investor demand and market volatility.
Investors looked ahead to the end of a two-day U.S. Federal Reserve policy meeting. The Fed was expected to stick to plans to reduce monthly bond purchases by $10 billion this month. Also due out Wednesday were preliminary first-quarter figures on growth in the world's largest economy.
"U.S. growth is expected to show the smallest growth read in a year, but leading indicators remain mildly positive, meaning it is unlikely there will be any change" in Fed policy, strategist Evan Lucas of IG Markets said in a report.
Also out Thursday are Chinese manufacturing data for April.
Seoul's Kospi shed 0.1 percent to 1,961.79 amid concern nationwide grief over a ferry sinking that killed at least 204 people and left 100 missing might affect economic growth as people cancel trips and social events.
"The tourism and recreation sectors should have been hit the most, with the knock-on effects expected to spread to accommodation, transport and retail trade," DBS Group said in a report.
Sydney's S&P ASX 200 rose marginally to 5,489.10, while Taiwan's Taiex declined 0.9 percent to 8,791.44.
India's Sensex added 0.3 percent to 22,529.08.
In the United States, the Dow Jones industrial average future was off 0.1 percent in pre-market trading on the Chicago Board of Trade. The future for the broader Standard & Poor's 500 lost 0.2 percent.
In energy markets, U.S. crude for June delivery declined 90 cents per barrel to $100.37 on the New York Mercantile Exchange. That came after sanctions announced by the United States and Europe on Russian officials, businesspeople and companies were less severe than traders had feared. The contract climbed above $101 on Monday, adding 44 cents to close at $101.28.
The dollar was off 0.2 percent at 102.33 yen and the euro was flat at $1.381. (**)