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ASEAN STOCK WATCH Asean Affairs   16  August  2011

Asean Stock Watch- August 16



U.S. stocks closed up on biggest three-day rally wiping off last week's losses following S&P's downgrade of U.S.'s credit rating.

The Dow Jones Industrial Average gained 213.88 points, or 1.90 percent, to finish at 11,482.90. The S&P 500 rose 25.68 points, or 2.18 percent, to end at 1,204.49, while Nasdaq gained 47.22 points, or 1.88 percent, close at 2,555.20.

All 10 S&P sectors closed higher, led by utilities, energy and financials.

Nymex crude oil closed up US$2.50 at USD 87.88 a barrel, while London Brent crude up rose by USD 1.88 at $109.91.


The Indonesian stock market has closed higher now in four straight sessions, jumping more than 220 points or 6 percent along the way. The Jakarta Composite Index finished just above the 3,960-point plateau on Monday and now analysts are suggesting continued strength at the opening of trade on Tuesday.

The global forecast for the Asian markets is broadly positive on M&A news, with support expected from the telecom, property, finance and airline sectors. The European and U.S. markets finished firmly in the green, and the Asian bourses are expected to open in similar fashion.

The JCI finished sharply higher on Monday following gains from the steel and construction companies.

For the day, the index spiked 69.49 points or 1.8 percent to finish at 3,960.02 after trading between 3,890.80 and 3,960.52. Volume was 4.97 billion shares worth 4.69 trillion rupiah. There were 208 gainers and 38 decliners.

Among the gainers, Krakatau Steel added 2.1 percent, while Adhi Karya surged 6.8 percent, Total Bangun Persada climbed 3.5 percent, Indocement Tunggal Prakasa spiked 5.5 percent, Holcim Indonesia jumped 3.5 percent and United Tractors collected 2.3 percent.


The FBM KLCI index gained 16.07 points or 1.08 percent on Monday. The Finance Index increased 1.12 percent to 14230.17 points, the Properties Index up 1.41 percent to 994.32 points and the Plantation Index rose 1.37 percent to 7307.18 points.


PHILIPPINE share prices closed higher on Monday after Wall Street managed to post gains to cap its most volatile week yet since the financial crisis in 2008.

At the Philippine Stock Exchange, the composite index added 10.90 points, or 0.25 percent to 4,332.63, while the broader all-shares index increased by 17.72 points, or 0.59 percent to 3,028.00.

Gains in the industrial, holding firms, services, as well as mining and oil counters managed to offset the weakness in the financial and property sub-indices.

Gainers beat losers, 83 to 55, while 44 stocks were unchanged. A total of 4.51 billion stocks worth P4.99 billion changed hands.

“The local market pushed for a gain . . . on Monday after Wall Street was able to slightly recover from its sharp swings last week,” said Maria Arlysa Narciso of AB Capital Securities Inc.

On Friday, the Dow Jones Industrial Average finished with a gain of 125.71 points, or 1.1 percent to 11,269.02 on strong retail sales.

While the Philippines’ economic fundamentals remain sound, the market’s focus would anchor on developments in major bourses abroad, analysts said.

“The fate of the US economy is still uncertain with weaknesses both in economic activity and labor. With employment figures showing contraction, debt burden on Americans has become heavier,” Narciso said.

“After US, the ball is in the hands of Europe now. France must avert a downgrade to keep a financial contagion from spreading,” she added.

The local index must find enough cushion to keep itself above 4,300 to keep safely out of a sharp decline, the analyst said.

The peso on Monday also snapped a losing streak, edging higher than the dollar on the back of higher remittances during the first half.

At the Philippine Dealing System, the local unit gained 22 centavos when it closed at 42.42 to the dollar from 42.64 last Friday.

The dollar-peso pair opened at 42.53 and moved to a high of 42.53 and to a low of 42.40. Total trading volume eased to $723.62 million from last week’s $1.424 billion.

The currency pair is expected to trade within the 42.10 to 43.10 range this week.


Singapore shares opened higher on Tuesday, with the benchmark Straits Times Index at 2,886.69 in early trade, up 0.43 percent, or 12.29 points.

Around 64.9 million shares exchanged hands.

Gainers beat losers 151 to 19.


The Stock Exchange of Thailand (SET) composite index on Monday gained 24.25 points, or 2.28 percent, to close at 1,086.32 points. The market value was 35.69 billion baht, with 4.22 billion shares traded.

The SET50 index ended the session at 756.55 points, up 18.47 points, or 2.50 percent, with a total trade value of 26.33 billion baht.

The SET100 index rose 39.26 points, or 2.44 per cent, to stay at 1,649.14 points, with a total transaction value of 30.51 billion baht.

The SETHD index stood at 1,040.02 points, up 21.97 points, or 2.16 percent, with a total market value of 8.96 billion baht.

The Market for Alternative Investment (mai) index moved up 2.69 points, or 0.88 percent, to close at 307.10 points, with a total turnover of 399.92 million baht.

Top five most active values were as follows;

PTT closed at 327.00 baht, up by 12.00 baht or 3.81 percent.

BBL closed at 159.50 baht, up by 1.50 baht or 0.95 percent.

KBANK closed at 133.50 baht, up by 4.50 baht or 3.49 percent.

SCB closed at 119.00 baht, up by 1.50 baht or 1.28 percent.

ADVANC closed at 117.00 baht, up by 1.00 baht or 0.86 percent.


Share values remained essentially unchanged on the HCM City Stock Exchange yesterday, following an overnight recovery in global markets, but they continued to decline in Ha Noi. Trading on both bourses remained sluggish.

In HCM City, the value of trades dropped by 36 percent from Friday's level to a very meagre VND230.6 billion (US$11 million). Volume reached only 15.5 million shares.

Sacombank (STB) was the only share seeing trades in excess of a million shares, but closed unchanged at VND12,800. Overall, decliners outnumbered advancers by 116-84.

The market is likely to continue declining this week, but at a slower pace than last week, wrote FPT Securities Co analysts in a note.

"Market recovery can only be sustainable if there is real positive change in the economy to attract investors back to the market," they wrote. "Government measures to solve existing problems will take time to prove effective, but this will also raise expectations about the recovery for investors."

In Hanoi, trades were mixed. The HNX-Index slid by 0.36 percent from Friday's close to end yesterday's session at 65.78 points. The value of trades decreased slightly to VND147.5 billion ($7.1 million) as just 15.4 million shares changed hands.

Sai Gon-Ha Noi Bank (SHB), with more than 2 million shares exchanged, became the most-active share nationwide, closing unchanged at VND6,800 per share.

Foreign investors were net buyers of nearly VND1 billion ($48,000) worth of shares on the HCM City bourse but were net sellers in Ha Noi, unloading about VND4 billion ($192,300) worth of shares.


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