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ASEAN STOCK WATCH Asean Affairs  11 August 2014 


Asean

SE Asia Stocks -Most recover; Malaysia rises from 4-1/2-month low  


Most Southeast Asian stock markets rebounded on Monday, with Malaysia rising from a 4-1/2-month closing low as easing Ukraine tensions and a rally on Wall Street helped boost investor appetite for risky assets.
    
Malaysia's main stock index   was up 0.4 percent at 0549 GMT, recovering from its lowest close since March 26, led by energy shares, while Singapore   rose from a one-month low, Thomson Reuters data showed.
   
 "It's a technical rebound," Singapore-based CIMB economist Song Seng Wun said.
    
"There's no sign global economic recovery is in danger or of disappointing quarterly earnings. The worries over geopolitical tensions in Ukraine and the Middle East have eased. We would see the rebound unless the tension threatens the markets again."
    
The Jakarta Composite Index  gained 0.8 percent from a near one-month closing low and the Philippines index  rose 1 percent, recovering from its lowest since July 31.
    
The market is likely to move mixed this week ahead of current account data scheduled for release on Friday, which is expected to worsen from a first-quarter deficit of 2.1 percent to a 4 percent deficit in the second quarter, Jakarta-based Trimegah Securities said in a note to investors.
    
Talks of fuel price increase or limitation of fuel subsidy are also a negative sentiment on the market, Trimegah added.
    
Shares of Malaysia Airline System (MAS)  rose as much as 10.4 percent in early trade from a near two-month low after state fund Khazanah Nasional  [KHAZA.UL]  said it will offer 27 sen for each share in the company it does not own, amounting to nearly 1.4 billion ringgit ($435 million) to take the troubled airline private.
   
 In Singapore, shares of upstream oil and gas firm KrisEnergy Ltd  gained more than 2.7 percent after the company said on Monday it had agreed a $65 million deal to buy out Chevron Corp's   interest in an offshore oil block in Cambodia and take over as the block's operator.
    
Ayala Land Inc  one of the Philippines' top property companies, gained 1 percent after it posted a 25 percent rise in first-half net income year-on-year.
    
Bucking the trend, Vietnam index   was down 0.5 percent down by midday as sentiment was cautious after recent net selling sessions by foreigners.
    
The Thailand market   was closed for a holiday.   
         

SOUTHEAST ASIAN STOCK MARKETS
 
 Market                          Current       Prev Close      Pct Move
 TR SE Asia Index*         438.10           434.63            +0.80
 Singapore                     3311.53         3288.89             +0.69
 Kuala Lumpur              1846.30          1839.87            +0.35
 Jakarta                         5092.31          5053.76            +0.76
 Manila                         6949.03           6880.34            +1.00
 Ho Chi Minh                  602.32             605.43             -0.51



 
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ASEAN  ANALYSIS

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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