ASEAN KEY DESTINATIONS
19 August 2013
The Straits Times Index (STI) ended 24.20 points lower or -0.76% to 3,173.33, taking the year-to-date performance to +0.20%.
The FTSE ST Mid Cap Index declined -1.05%, as with the FTSE ST Small Cap Index (-1.22%). The top active stocks were Mirach Energy (+22.86%), DBS (-1.53%), SingTel (+0.81%), GLP (-2.21%) and Tritech (+6.67%).
The outperforming sectors today were represented by the FTSE ST Telecommunications Index which gained +0.71%. The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+0.81%) and StarHub (+0.48%). The underperforming sector was the FTSE ST Industrials Index, which declined -2.28% with Jardine Matheson Holdings and Jardine Strategic Holdings posting declines of -4.44% and -5.33% respectively. The FTSE ST Health Care Index declined -1.21%.
The three most active Exchange Traded Funds (ETFs) by value today were SPDR Gold Shares (+0.85%), DBXT MSCI Indonesia ETF 10 (-9.50%) and IS MSCI India 100 (-3.58%).
The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (-1.75%), SoilbuildBiz REIT (+2.10%), and CapitaComm (-0.71%).
The most active index warrants by value today were HSI22200MBeCW130927 (-12.93%), HSI22000MBePW130927 (-1.11%) and STI 3100BPeCW130927 (-8.54%).
The most active stock warrants by value today were DBS MB eCW131203 (-11.81%), KepCorp MBeCW131203 (-2.63%) and UOB MB eCW131104 (-6.11%).
Singapore Stock Market
*ST Index 3,173.33 -24.2 3,197.53 -23.39
Volume: 2,471.4M 3,299.6M
Value: $1,262M $1,415.5M
Gainers/Losers: 163/294 188/251
Daily Market Commentary (Securities)
19 Aug 2013
The FBM KLCI index lost 9.88 points or 0.55% on Monday. The Finance Index fell 0.76% to 16915.86 points, the Properties Index dropped 0.34% to 1375.32 points and the Plantation Index down 0.35% to 8289.36 points. The market traded within a range of 16.78 points between an intra-day high of 1788.43 and a low of 1771.65 during the session.
Actively traded stocks include MAS, TMS, SONA-WA, DAYA, FLONIC, SUMATEC-WA, INSTACO, TIGER, MAS-CM and TMS-WA. Trading volume increased to 3158.33 mil shares worth RM2441.47 mil as compared to Friday’s 2132.22 mil shares worth RM1617.58 mil.
Leading Movers were KLK (+14 sen to RM21.34), PBBANK (+6 sen to RM17.30) and DIGI (+3 sen to RM4.68). Lagging Movers were BAT (-48 sen to RM62.00), PETDAG (-32 sen to RM27.98), PPB (-30 sen to RM14.36), HLFG (-18 sen to RM14.50) and HLBANK (-18 sen to RM14.18). Market breadth was negative with 339 gainers as compared to 515 losers.
As envisaged, the local bourse continued to trend lower at the start of the week, easing 9.88 points to 1,778.36. Despite most companies reported robust earnings, we reckon the market is still mildly affected by external jitters such as the scaling back of the US monetary stimulus programme and economic contraction in neighboring countries such as Indonesia and Thailand, which has further shattered the confidence of investors.
Across the region, markets ended with a mix tone. China’s stocks rose for the first time in four days supported by telecommunication shares and rare-earth producers which rallied after the government said it will expand the country’s broadband network. Meanwhile, Indonesia’s record current-account deficit and Thailand’s economic contractions sparked new concern that capital outflows will accelerate led to stocks declined.
Date As of: 19 August 2013
Description Volume Value Frequency
Total 4,395,988,922 6,753,785,834,700 155,719
ETF 174,500 86,913,500 135
Stock 4,341,000,256 6,750,169,416,500 154,331
Warrant 54,814,166 3,529,504,700 1,253
As of 19 Aug 2013 Unit: M.Baht
Type Buy Sell Net
Institution 3,277.08 4,654.88 -1,377.80
Proprietary 6,320.17 8,658.78 -2,338.61
Foreign 10,022.07 13,645.58 -3,623.51
Individual 25,894.75 18,554.83 7,339.92
Total Trading Value 45,514.07 M.Baht
Indonesian shares dropped 5.6 percent on Monday, their worst loss since October 2011, as the country's wider current account deficit and a fall in the rupiah spurred fund outflows while Thai stocks fell to six-week lows after weak economic data.
Jakarta's Composite Index (JCI) closed at 4,313.52, around seven-month lows, led by losses in shares in blue chip firms. The selling earlier in the day was led by foreign investors, a trader said.
Losses in banking, led by state-backed lender Bank Rakyat Indonesia , and property shares extended from last week due to Bank Indonesia's slower loan growth target and regulations effective in November.
In response to Indonesia's slowing economic environment, the central bank said it expects 2013 growth to be at the "lower end" of its forecast range of 5.8-6.2 percent. Last month, it cut its projection to that range from 6.2-6.6 percent previously.
Selling momentum in Indonesian shares increased and the rupiah plumbed four-year lows on Monday after Indonesia released data on Friday showing its current account deficit widened to 4.4 percent of gross domestic product in the second quarter of the year, from 2.4 percent in the previous quarter.
CIMB strategist Chang Chiou Yi has an 'underweight' call on Indonesian stocks.
"I think the fallout in the market is led by concerns of widening current account deficit, the drop in fx reserves and the rising inflation as well monetary tightening," said CIMB strategist Chang Chiou Yi.
The Indonesian stock exchange saw a net foreign outflow of almost $90 million on Friday when the main index tumbled 2.5 percent as the prospect of stimulus cut in the United States worried investors and dented sentiment.
In Bangkok, weaker-than-expected GDP growth data for the second quarter and a 2013 GDP growth downgrade spurred broad-based selling.
The main SET index fell 3.3 percent to 1,398.48, the lowest close since July 10, led down by the large cap banking sector and the telecoms sector.
"The Thai stock market performed worse than expected today.
The weak GDP data will lead to corporate earnings downgrade for the second half and we already see selling pressure on stocks across the board," said Teerada Charnyingyong, senior strategist at broker Phillip Securities.
Stocks in Singapore and Malaysia posted slight losses, tracking broader Asia, with MSCI's broadest index of Asia-Pacific shares outside Japan was 0.7 percent lower.
Bucking the trend, Vietnam's benchmark VN Index gained 0.64 percent as investors were encouraged that a proposal by market regulators to raise the limit on foreign ownership in listed companies was supported by the government.
The Philippines suspended trading in the stock, foreign currency and debt markets on Monday due to heavy rains and flooding in some parts of the capital.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
SE Asia Index* 407.82 417.65 -2.35
Singapore 3173.33 3197.53 -0.76
Kuala Lumpur 1778.36 1788.24 -0.55
Bangkok 1398.48 1445.76 -3.27
Jakarta 4313.52 4568.65 -5.58
Manila -- 6525.95 --
Ho Chi Minh 511.02 507.79 +0.64
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