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ASEAN STOCK WATCH Asean Affairs  14 August 2014 



Singapore

14 August 2014

The Straits Times Index (STI) ended -6.58 points lower or -0.20% to 3294.83, taking the year-to-date performance to +4.11%.

The FTSE ST Mid Cap Index gained +0.19% while the FTSE ST Small Cap Index remain unchanged. The top active stocks were DBS (-0.34%), SingTel (-1.02%), UOB (+0.48%), Keppel Corp (+0.46%) and CapitaLand (-1.79%).

The outperforming sectors today were represented by the FTSE ST Consumer Goods Index (+0.43%). The two biggest stocks of the FTSE ST Consumer Goods Index are Wilmar International (+0.31%) and Thai Beverage (unchanged). The underperforming sector was the FTSE ST Telecommunications Index, which declined -0.89% with SingTel’s share price declining -1.02% and StarHub’s share price declining -0.25%. The FTSE ST Consumer Services Index declined -0.24%.  The FTSE ST Real Estate Index declined -0.25%. The FTSE ST Utilities Index declined -0.42%.

The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India  (+1.78%), DBXT FT China ETF 10 (-0.76%), SPDR Gold Shares (+0.45%).

The three most active Real Estate Investment Trusts (REITs) by value were CapitaCommercial Trust (-0.61%), Ascendas REIT (+0.43%), Suntec REIT (+0.57%).

The most active index warrants by value today were HSI24800MBeCW140929 (-7.63%), HSI24600MBePW140929 (+7.90%), HSI25400MBeCW140929 (-11.24%).

The most active stock warrants by value today were KepCorp MBeCW141201 (+0.87%), UOB MB eCW141201 (-1.27%), DBS MB eCW150106 (-4.62%).
   
 Singapore Stock Market
                                Thursday              Wednesday
*ST Index          3,294.83  -6.58      3,301.41  -1.98
Volume:                  1,331.4M              1,663.6M
Value:                      $969.6M               $858.7M
Gainers/Losers:         219/216                 227/192


Malaysia

Daily Market Commentary (Securities)
14 Aug 2014

The FBM KLCI index gained 3.54 points or 0.19% on Thursday. The Finance Index increased 0.45% to 17260.52 points, the Properties Index up 0.11% to 1509.09 points and the Plantation Index down 0.39% to 8910 points. The market traded within a range of 8.50 points between an intra-day high of 1863.37 and a low of 1854.87 during the session.

Actively traded stocks include PDZ, SUMATEC, LUSTER, NEXGRAM-WC, FRONTKN, SANICHI, EAH, GLOTEC, AMEDIA and GPA. Trading volume increased to 3947.92 mil shares worth RM2583.59 mil as compared to Wednesday’s 3605.29 mil shares worth RM2677.55 mil.

Leading Movers were PETDAG (+54 sen to RM20.46), PETGAS (+44 sen to RM22.70), HLFG (+26 sen to RM17.30), UMW (+12 sen to RM11.90) and MAXIS (+6 sen to RM6.52). Lagging Movers were GENM (-6 sen to RM4.31), YTL (-2 sen to RM1.60), FGV (-5 sen to RM4.01), KLCC (-6 sen to RM6.45) and PPB (-12 sen to RM15.12). Market breadth was negative with 423 gainers as compared to 431 losers.

The KLCI closed higher at 1861.58 points amid positive overnights performance in US markets. Meanwhile, investor’s sentiment was tepid due to lack of fresh market leads and slowdown in US retail sales.


Thailand

Thai bourse market report for July 2014


-    Daily average trading value up 15 pct year-on-year to USD 1.62 bln

-    Market cap at USD 415 bln, up 17 pct from end of last year

-    Derivatives trading jumps 257 percent to 195,494 contracts per day

-    Foreign investors reversed to net buyers worth USD 427 mln in July

BANGKOK, August 14, 2014 – The Stock Exchange of Thailand (SET) securities trading value in July rose by 15 percent from a year earlier to THB 52.80 billion (approx. USD 1.62 billion), and up 8.62 percent from a month ago, underpinned by revived confidences following the economic roadmap announced by the National Council for Peace and Order (NCPO), and better-than-expected performances of listed companies in the second quarter.  

The SET main index ended July at 1,502.39 points, up 15.68 percent from end-2013. It reached a 14-month high of 1,543.92 in July before fears over QE tapering and Argentina’s debt default weighed the index down. Foreign investors reversed to be net buyers in July, buying USD 427 million. They sold a net USD 820 million of Thai stocks in the first seven months.
 
Key highlights for July

Securities

-     Market capitalization of SET was at THB 13.50 trillion (USD 415 billion) at the end of July, up 17 percent from end-2013, and up 1.1 percent from a month earlier, while market valuation of mai was at THB 267.26 billion (USD 8.22 billion), up 13 percent from the end of June.

-     Forward P/E ratio rose year-on-year to 14.95 times, while mai's increased to 26.24.

-     Dividend yield was at 3.06 percent, up slightly from a year earlier, while mai's was down at 1.27 percent.

-     Listed companies raised funds through equity worth a combined THB 6.41 billion (USD 197 million) in July, down from a month ago, of which THB 3.41 billion was raised from initial public offerings from two companies in mai and one property fund, and THB 3.0 billion from the secondary market. However, the total fundraising in the first seven months was at THB 89.97 billion, down 48 percent from a year earlier.

Derivatives

-     Second-quarter derivatives trading volume leaped 257 percent from a year earlier, but down 2.5 percent from the past months to an average of 195,494 contracts per day. The increase was largely boosted by single stock futures.

-     Night session trading of commodity futures accounted for 47.16 percent of the total trading volume, up from 46.57 percent in June.

 
**************************

Thai bourse lists Subsrithai Smart Storage property fund on August 15
 
BANGKOK, August 14, 2014 – The Stock Exchange of Thailand (SET) will list Subsrithai Smart Storage Property Fund, managed by One Asset Management Limited, worth THB 820 million (approx. USD 25.6 million), on its main board on August 15, under the ticker "SSTSS".

Paveena Sriphothong, SET senior vice president, said that SSTSS would list and start trading on the Thai bourse's Property Fund & REITs sector on August 15. The property fund sold 82 million units via an initial public offering (IPO) at THB 10 per unit, with total value of THB 820 million, during July 22 - 31.

SSTSS invests in freehold rights of lands, property and buildings of five document warehouses, including infrastructure and working system of the Subsrithai Smart Storage project located in Samut Prakarn province, Bangkok’s suburb. The fund will be leased to Sub Sri Thai pcl, the previous asset’s owner, for ten years with a return of fixed rental costs throughout the leasing period.

One Asset Management CEO Win Udomrachtavanich said, “SSTSS’s strength is its strategic location near the south of Kanchanapisek ring road connected to many main road networks, logistically convenient for transportation in Bangkok and suburban areas. The location is in line with the growth potential of document warehouse service business which needs cost efficiency and safety. On top of this, the property is operated by Sub Sri Thai, having long-time expertise in document warehouse management. As such it is strongly believed that SSTSS will create returns to investors consistently and satisfactorily.”   

SSTSS is a closed-end specific property fund with no maturity. Its dividend policy is to pay no less than once a year at 90 percent of adjusted net profit of its financial year. The fund's major unit holder after its IPO is Sub Sri Thai pcl (15 percent).
 
Trading Summary

As of   14 August  2014         Unit: M.Baht
Type                              Buy                     Sell                    Net
Institution                  5,948.16          7,931.93           -1,983.76     
Proprietary                7,762.26          4,854.01            2,908.24     
Foreign                      9,907.83       10,482.90              -575.07     
Individual                 32,716.13       33,065.54              -349.41     
Total Trading Value   56,334.39 M.Baht     


Vietnam

Vietnam index ends up 0.4 pct; Vingroup to pay dividend


Vietnam's benchmark VN Index  rose 0.41 percent at close on Thursday, with strong gains in some blue chips leading the market and retailers also stepped up buying, analysts.
   
 Shares in property firm Vingroup  increased 0.64 percent, having eased from its highest intraday level in six months of 79,000 dong ($3.73) hit in early trade, Reuters data showed.
    
The Hanoi-based firm will issue nearly 453 million new  shares to pay dividend by stocks, it said in a statement on Thursday.
    
Confectionery firm Kinh Do  gained 3.94 percent, and top mobile phone retailer Mobile World  <MWG.HM>  ended up 6.45 percent at its record high of 132,000 dong each after the firm announced a dividend payment later this year.
    
The index staying above 600 points has encouraged retailers to trade, while constant selling by foreign investors indicated a high risk on the market, analysts said.
    
Here is a snapshot of the VN Index  at the close

                         VN Index       605.25             
                 PREV. CLOSE       602.76             
                    % CHANGE        0.41%             
                                                     
                       HIGH       607.84             
                        LOW       604.08   


Asean

SE Asia Stocks-Philippines at over 1-yr high; Indonesia retreats on Q2 data


Southeast Asian stock markets were a mixed bag on Thursday, with the Philippines  closing at its highest in nearly 15 months on strong buying in top telecoms firm Philippine Long Distance Telephone Co .
    
Philippine shares rose 1.07 percent to close at 7,061 points, a level not seen since May 29 last year, on solid volumes, Reuters data showed.
   
 PLDT, the biggest firm on the index by market value, surged 4.03 percent to 3,250 pesos ($74.5), its highest close since May  2013. The stock's weighting will be increased in the coming rebalancing of the MSCI International Philippines Price Return Index , traders said.
    
Philippine industrial conglomerate Ayala Corp   also hit its record high close after reporting a 34 percent jump in net profit during January-June of 2014.
   
 Indonesia   retreated 0.25 percent, having climbed to a more than one-year closing high in the previous session following its central bank's announcement of a larger-than-expected current account deficit in the second quarter. Indonesia posted a surplus in the previous three months.  
    
Jakarta shares are still Southeast Asia's most profitable this year, according to Reuters data.
    
Other markets moved range-bound, with Thailand's SET Index  dipping 0.17 percent and Singapore   down 0.2 percent.
    
Malaysia   and Vietnam   finished in positive territory, closing up 0.19 percent and 0.41 percent  respectively.
   
SOUTHEAST ASIAN STOCK MARKETS
 
 Market                          Current      Prev Close      Pct Move
 TR SE Asia Index*        443.46            441.79           +0.38
 Singapore                    3294.83          3301.41            -0.20
 Kuala Lumpur              1861.58          1858.04           +0.19
 Bangkok                      1541.97          1544.55            -0.17
 Jakarta                         5155.55          5168.27            -0.25
 Manila                          7061.00          6986.24           +1.07
 Ho Chi Minh                   605.25            602.76            +0.41
 



 
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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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