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ASEAN STOCK WATCH 8 April 2010

Shayne Heffernan
www.livetradingnews.com

ASEAN stock markets continued their rally on Wednesday on strong confidence about economic growth and stability in ASEAN and the outlook for improved corporate earnings, energy and banks are leading the way.

A fall in the USA overnight will lead to additional profit taking in ASEAN on Thursday.

Dow 10,897.52 -72.47 (-0.66%)
S&P 500 1,182.44 -6.99 (-0.59%)
Nasdaq 2,431.16 -5.65 (-0.23%)

International demand in ASEAN Exchanges and upward revisions to GDP growth forecasts and the impact of AFTA have led to more earnings revisions, justifying higher market values.

The World Bank raised their forecast for economic growth in East Asia to reflect reviving global demand, sustained fiscal and monetary stimulus in the region and a rapid rebound in consumer spending.

Indonesia finished up 0.6 percent on Wednesday, hitting a record high of 2,916.11 intra-day, after the central bank kept their policy rate unchanged as expected. The most actively traded stocks, Bank Central Asia up 2.6 percent, Adaro Energy was up 2.4 percent and Unilever Indonesia added 2.03 percent.

Singapore added 0.4 percent to a 21-month high and Malaysia rose 0.05 percent, coming off its early gain to a 25-month high.

Thailand ended the day with a 0.55 percent gain, off early highs as political tension led to profit taking, but the Thai exchange is still hovering around 22-month highs. Thailand's finance minister said anti-government protests could delay an expected interest rate rise and might cause economic growth this year to be significantly worse than his ministry's forecast of 4.5 percent.

Energy and banks led gains in Bangkok, with the biggest energy firm PTT rising 2.2 percent, Krung Thai Bank KTB up 7.03 percent and Kasikornbank jumping 4.9 percent on their upbeat loan growth forecasts In Singapore, commodities firms were active, Wilmar International gaining 0.4 percent, Olam International climbing 4.6 percent and Noble Group up 0.9 percent as it offered to buy out Australia's Gloucestor Coal .

In Kuala Lumpur, Tenaga Nasional and Petronas each gained over 1 percent.

The Philippine index gained 0.5 percent to hit a 26-month high, led by a 3.8 percent rise in property developer Ayala Land and a 2.2 percent gain in conglomerate Ayala Corp. . Analysts said foreigners are mostly focusing on diversified conglomerate shares. They bought a net 6.8 billion pesos ($152 million) of shares in the first quarter after being net sellers for the past two years.

Vietnam .VNI rose for a fifth session, adding 0.1 percent, led by 4.8 percent gain in rubber producer Phuruco PHR.

Global Market Indexes

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12,099.62
-57.09 (-0.47%)
+34.20%
Apr 07, 4:00pm
flag
Mexican Bolsa IPC Index
33,648.54
-152.67 (-0.45%)
+61.72%
Apr 07, 4:00pm
flag
Brazil Bovespa Index
70,676.66
-418.99 (-0.59%)
+60.02%
Apr 07, 4:00pm
flag
Argentina Merval Index
2,446.58
-40.14 (-1.61%)
+106.45%
Apr 07, 4:00pm
flag
Chile IPSA Index
3,850.49
-3.26 (-0.08%)
+51.29%
Apr 07, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
11,292.83
+10.51 (0.09%)
+27.49%
Apr 07, 4:00pm
flag
ASX All Ordinaries
4,983.20
+0.00 (0.00%)
+34.81%
Apr 07, 4:00pm
flag
Seoul Composite
1,726.60
+0.51 (0.03%)
+33.04%
Apr 07, 4:00pm
flag
Hong Kong Hang Seng
21,928.77
+391.77 (1.82%)
+46.21%
Apr 07, 4:00pm
flag
Shanghai
3,148.22
-10.46 (-0.33%)
+30.10%
Apr 07, 4:00pm
flag
Taiwan Weighted
8,089.65
+0.00 (0.00%)
+45.60%
Apr 06, 5:30pm
flag
Singapore Straits Times
2,988.10
+12.59 (0.42%)
+61.70%
Apr 07, 4:00pm
flag
Bombay Sensex Index
17,970.02
+0.00 (0.00%)
+70.58%
Apr 07, 4:00pm
flag
Jakarta Composite
2,898.58
+0.00 (0.00%)
+91.12%
Apr 07, 4:00pm
flag
Kuala Lumpur Composite
1,345.09
+0.72 (0.05%)
+45.61%
Apr 07, 4:00pm
flag
PSE Composite
3,270.37
+16.89 (0.52%)
+61.21%
Apr 07, 4:00pm
flag
Sri Lanka All Share
3,909.61
+39.26 (1.01%)
+136.54%
Apr 07, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,762.06
-18.29 (-0.32%)
+44.29%
Apr 07, 4:00pm
flag
Paris CAC 40
4,026.97
-26.97 (-0.67%)
+37.45%
Apr 07, 4:00pm
flag
Frankfurt Index
6,222.41
-29.80 (-0.48%)
+43.05%
Apr 07, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+17.36%
Apr 06, 5:30pm
flag
Belgium 20 Index
2,696.96
+0.30 (0.01%)
+49.82%
Apr 07, 4:00pm
flag
Swiss Market Index
6,843.49
-42.72 (-0.62%)
+36.81%
Apr 07, 4:00pm
flag
OSE Norway All Share
434.09
-0.53 (-0.12%)
+57.77%
Apr 07, 4:00pm
flag
ATX Vienna
2,734.73
+26.34 (0.97%)
+51.67%
Apr 07, 4:00pm
flag
Amsterdam Total Return General
353.89
-1.72 (-0.48%)
+54.64%
Apr 07, 4:00pm
flag
Madrid General
1,155.42
+4.32 (0.38%)
+32.20%
Apr 07, 4:00pm
flag
Stockholm General Index
331.70
-0.82 (-0.25%)
+52.91%
Apr 07, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,151.36
-9.59 (-0.83%)
+62.07%
Apr 07, 10:45am
flag
TEL-TECH INDEX
318.76
-5.78 (-1.78%)
+72.51%
Apr 07, 10:45am
flag
TEL-TECH-15 INDEX
274.19
-4.72 (-1.69%)
+60.73%
Apr 07, 10:45am

 

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