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ASEAN STOCK WATCH Asean Affairs  4 April 2013 

ASEAN Markets to Open Lower


HSBC Insurance (Singapore) has agreed to sell its group term life insurance and group medical insurance portfolios in Singapore to AXA Life Insurance Singapore.

The gross asset value of these portfolios was approximately S$23.5m at 31 December . The Hongkong and Shanghai Banking Corporation has extended its existing exclusive 10-year bancassurance agreement with AXA Asia SAS and AXA General Insurance Hong Kong, which relates to general insurance products, to include the distribution of group term life and group medical insurance products to the Bank's customers in Singapore.

AXA Singapore and AXA Insurance Singapore Pte Limited will pay commissions on product sales to the bank. HSBC says the sale of the Singapore group term life and group medical insurance portfolios represents further progress in the execution of the group's strategy. The transaction is subject to regulatory approval and is expected to complete within this year.


The Stock Exchange of Thailand main index went down 30.02 points, or 1.94%, to close at 1,520.52 points at the end of trading session this afternoon. The trade value was 59.14 billion baht, with 16.14 billion shares traded.

The SET50 index ended at 1,004.67 points, down 17.22 points, or 1.69%, with a total trade value of 30.19 billion baht.

The SET100 index fell 42.84 points, or 1.87%, to stand at 2,243.51 points, with a total turnover of 41.83 billion baht.

The SETHD index went down 20.09 points, or 1.59%, to stand at 1,241.67 points, with total trade value of 11.87 billion baht.

The MAI index dropped 18.10 points, or 3.78%, to close at 460.55 points, with total transaction value of 3.44 billion baht.

Top five most active values were as follows;

SCB                  stood at            183.00 baht, up 0.50 baht (0.27%)
KBANK              stood at            203.00 baht, down 3.00 baht (1.46%)
ADVANC (XD)   stood at            230.00 baht, down 9.00 baht (3.77%)
BTS                  stood at                 9.15 baht, down 0.20 baht (2.14%)
BBL                  stood at             230.00 baht, up 2.00 baht (0.88%)


The FBM KLCI, which fell 53 points or 3.1% to an intra-morning low of 1,632, staged a recovery to end the day 0.4 point higher to 1685.40.

Wednesday's trade ended with 1.35 billion shares exchanging hands, valued at RM2.89bil. There were 237 gainers, 585 decliners and 300 counters unchanged, reflecting the cautious market sentiment following the volatile swings in the KLCI.

At Bursa Malaysia, banks rebounded to close mostly higher. CIMB rose nine sen to close RM7.74, pushing up the KLCI by 1.54 points. HLFG added 18 sen to RM15.18, AMMB five sen to RM6.64 and RHB Capital three sen to RM8.64.

Public Bank, which had a strong run-up fell 12 sen to RM16.30 and erased 1.34 points of the KLCI.

Among consumer stocks BAT closed up RM1.20 to RM64.90. Genting Bhd added 10 sen to RM10.20. Crude palm oil for third-month delivery rose RM3 to RM2,385. PPB Group rose six sen to RM12.76, KL Kepong also gained six sen to RM21.24 while TAHPS rose 21 sen to RM5.25. FGV fell five sen to RM4.65.

Tenaga Nasional saw much volatility in its share price, surging to a high of RM7.84 and sliding to a low of RM7.21, which was the main drag on the KLCI earlier. It ended the day, two sen lower at RM7.57.

Water specialist Puncak Niaga Holdings was 11 sen higher at RM1.65.

Petronas-related counters were among the decliners, with Petronas Gas falling 20 sen to RM18.80, Petronas Dagangan fell eight sen to RM23.20 and Petronas Chemicals seven sen to RM6.29.


Indonesia’s construction market is predicted to reach Rp 400 trillion ($41 billion) this year on the back of infrastructure development, a contractor association chief said on Wednesday.

Sudarto, head of the Indonesia Contractor Association (AKI), said the national construction market in 2013 will grow 20 percent from last year’s Rp 330 trillion, on the back of infrastructure development encouraged by the government. The domestic construction market has big potential, he said, adding that its value was Rp 250 trillion in 2011.

“We predict this year the construction projects’ value will be Rp 400 trillion and Rp 480 trillion in 2014,” Sudarto said. “Since two years ago, the construction sector contributed 8 percent to the 2011 gross domestic product and 10 percent of GDP in 2012, and for this year it is predicted to take up to 11 to 12 percent.”

State and regional budgets as well as government-owned enterprises and the private sector contribute to the construction market.

“The funds [for construction projects] from State Budget are lower than the private sectors, but still it is needed to trigger the developments,” he said.

He said the government’s commitment to infrastructure development appeared in the 2013 State Budget, which allocated 11.76 percent of the total Rp 1,657.9 trillion budget for infrastructure.

Indonesia’s infrastructure lags behind that of many other nations. According to the World Bank’s Logistics Performance Index for 2012, Indonesia ranked 59 out of 155 countries assessed. The index reflects the perceptions of global freight forwarders doing business with Indonesia.


Philippine Stock Exchange index recovered 66.87 points or 0.99 percent to close at 6,815.30. Across the region, trading was mixed as investors were cautious ahead of the US jobs report due for release Thursday.

Value turnover for the day amounted to P10.23 billion. There were twice as many advancers for every single decliner for the day.

The biggest index gainers were Ayala-led stocks Manila Water Corp. (+3.82 percent), Ayala Land Inc. (+3.08 percent) and Globe Telecom (+2.87 percent). Metro Pacific Investments Corp., Petron and Belle also gained by more than 2 percent while Ayala Corp. rose by 1.92 percent.

Meralco, First Gen and Aboitiz Equity Ventures also posted gains of more than 1 percent for the day.

The Philippines recently bagged a much-coveted investment grade rating from Fitch Ratings. Other rating agencies, particularly Moody’s and Standard & Poor’s, are expected to follow suit.

Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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