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ASEAN STOCK WATCH Asean Affairs  5 April 2013 

ASEAN Market Preview


Philippine Stock Exchange index lost 31.58 points or 0.46 percent to close at 6,783.72.

Turnover was thin at P6.71 billion. There were 71 advancers compared with 88 decliners while 46 stocks were unchanged.

“Market is reflecting rising risk aversion,” said Banco de Oro Unibank chief strategist Jonathan Ravelas. If the next support level at 6,750 would give way, he said, this could extend the correction toward the 6,500 to 6,600 levels.

A commentary from Metropolitan Bank and Trust Co. said the lack of positive trading catalysts was causing weakness in the local equities market.

“Investors are advised to trade with caution. A pullback may still continue in the interim as the market has been trading on stretched multiples,” it said.

Investors sold down shares of ALI, MPI, MWC and BPI which all declined by over 1 percent. SM Prime, EDC, Bloomberry, AC, FGEN and RLC also contributed to the slump.

On the other hand, the PSEi’s decline was tempered by the modest gains of Belle, SMC, AEV and AP.


The Stock Exchange of Thailand main index went up 7.94 points, or 0.52%, to close at 1,528.46 points at the end of trading session this afternoon. The trade value was 60.93 billion baht, with 15.90 billion shares traded.

The SET50 index ended at 1,010.71 points, up 6.04 points, or 0.60%, with a total trade value of 27.53 billion baht.

The SET100 index rose 13.12 points, or 0.58%, to stand at 2,256.63 points, with a total turnover of 41.82 billion baht.

The SETHD index went up 3.35 points, or 0.27%, to stand at 1,245.02 points, with total trade value of 12.29 billion baht.

The MAI index gained 8.27 points, or 1.80%, to close at 468.82 points, with total transaction value of 2.50 billion baht.

Top five most active values were as follows:

BTS stood at 9.05 baht, down 0.10 baht (1.09%)
CK stood at 23.20 baht, up 0.50 baht (2.20%)
TIPCO stood at 14.60 baht, up 1.50 baht (11.45%)
SUSCO stood at 6.75 baht, up 0.60 baht (9.76%)
BBL stood at 231.00 baht, up 1.00 baht (0.43%)


At Bursa Malaysia, among the plantations, IOI Corp rose 17 sen to RM4.86, pushing the KLCI up 2.28 points and FGV added four sen to RM4.69. However, PPB Group lost six sen to RM12.70 and KL Kepong slipped four sen to RM21.20.

BAT was the top gainer, adding 40 sen to RM65.30, IHH added seven sen to RM3.77, adding 0.53 of a point. Maxis gained three sen to RM6.58 while YTL Corp and YTL Power increased by two sen each to RM1.65 and RM1.50.

Among the banks, Maybank rose three sen to RM9.45 but HLFG fell 22 sen to RM14.96, AMMB seven sen to RM6.57 while Public Bank shed two sen to RM16.28.

Shares of UEM Land, Tebrau Teguh, Benalec Holdings were among stocks that rose in active trade. UEM added nine sen to RM2.82, Benalec five sen to RM1.24 and Tebrau three sen to RM1.48. Daiman rallied 34 sen to RM2.40.

The decliners were Genting Bhd, down 14 sen to RM10.06, Astro four sen lower at RM2.85 and Axiata three sen to RM6.62.


Morgan Stanley Research maintained its country preference for Indonesia over Thailand and Singapore saying Indonesian companies have had the best earnings performance for the October-December quarter on strong growth in financials.

Thirteen out of 24 Indonesian companies in the Morgan Stanley MSCI list beat consensus expectations, the broker said in its Asean Equity Strategy report, dated April 3.
Financials beat consensus expectations by 17 percent, led by Bank Rakyat Indonesia Persero, it said. In comparison, MSCI Singapore companies beat consensus expectations by 3.6 percent while MSCI Thailand companies missed the expectations by 7.7 percent, the report said.
Indonesia has been the only ASEAN 3 country to have seen positive upward revisions in forecast 2013 earnings per share by 60 basis points over the last four weeks, it said.


The FTSE Straits Times Index (STI) ended -13.97 points lower or -0.42% lower to 3,307.80, taking the year-to-date performance to +4.44%.

The FTSE ST Mid Cap Index gained +0.16% while the FTSE ST Small Cap Index declined -0.26%.

The top active stocks were Singtel (+1.68%), DBS (-0.13%), OCBC Bk (+0.28%), GoldenAgr (-1.74%), and ISDN (+27.62%).

The outperforming sectors today were represented by the FTSE ST Telecommunications which gained +1.28%. The two biggest stocks of the Telecommunications Index are Singtel (+1.68%) and Starhub (-1.36%). The underperforming sector, FTSE ST Basic Materials, declined -2.05% with Geo Energy unchanged and Midas Holdings declining -2.86%. The FTSE ST Real Estate Index declined -0.37%, FTSE ST Consumer Services Index declined -0.37% and FTSE ST Utilities declined -1.87%.*

The three most active Exchange Traded Funds (ETFs) by value today were SPDR GOLD SHARES (-1.55%), IS MSCI INDIA 100 (-9.56%) and DBXT MSCI JAPAN TRN ETF 10 (+2.39%).

The three most active Real Estate Investment Trusts (REITs) by value were SuntecReit (+2.49%), Ascendasreit (+1.13%), and CapitaComm (+1.24%).

The most active index warrants by value today were STI 3550MBeCW131231 (-1.41%) and STI 3400MBeCW130628 (unchanged).

The most active stock warrants by value today were DBS BP eCW130702A (-1.42%), DBS MB eCW130910 (-1.40%), and SGX MB eCW131101 (-6.48%).

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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