ASEAN KEY DESTINATIONS
20 August 2013
The Straits Times Index (STI) ended 44.58 points lower or -1.40% to 3,128.75, taking the year-to-date performance to -1.21%.
The FTSE ST Mid Cap Index declined -1.43%, as with the FTSE ST Small Cap Index (-1.47%). The top active stocks were Mirach Energy (-1.16%), DBS (-1.61%), SingTel (-1.60%), OCBC Bk (-1.53%) and UOB (-2.01%).
The outperforming sectors today were represented by the FTSE ST Technology Index which declined -0.28%. The two biggest stocks of the FTSE ST Technology Index are LionGold Corporation (unchanged) and STATS ChipPAC (-1.49%). The underperforming sector was the FTSE ST Health Care Index, which declined -2.81% with Biosensors International Group and Raffles Medical Group posting declines of -2.29% and -1.91% respectively. The FTSE ST Industrials Index declined -1.09%.
The three most active Exchange Traded Funds (ETFs) by value today were SPDR Gold Shares (-0.90%), IS MSCI India 100 (-0.98%) and DBXT MSCI Indonesia ETF 10 (-5.40%).
The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (-2.68%), CapitaComm (-2.16%) and SoilbuildBiz REIT (-2.06%).
The most active index warrants by value today were HSI22000MBePW130927 (+43.82%), HSI22200MBeCW130927 (-33.59%) and HSI22800MBeCW131030 (-27.05%).
The most active stock warrants by value today were DBS MB eCW131203 (-23.62%), OCBC Bk MBeCW131101 (-17.54%) and KepCorp MBeCW131101 (-7.14%).
Singapore Stock Market
*ST Index 3,128.75 -44.58 3,173.33 -24.2
Volume: 3,082.7M 2,471.4M
Value: $1,650.9M $1,262.1M
Gainers/Losers: 88/397 163/294
Daily Market Commentary (Securities)
20 Aug 2013
The FBM KLCI index lost 32.94 points or 1.85% on Tuesday. The Finance Index fell 2.71% to 16457.98 points, the Properties Index dropped 2.72% to 1337.97 points and the Plantation Index down 1.09% to 8198.69 points. The market traded within a range of 36.89 points between an intra-day high of 1774.47 and a low of 1737.58 during the session.
Actively traded stocks include MAS, SONA-WA, DAYA, TMS, SONA, CIMB, MAYBANK, FLONIC, LUSTER and ASUPREM. Trading volume decreased to 2616.35 mil shares worth RM3748.98 mil as compared to Monday’s 3158.33 mil shares worth RM2441.47 mil.
Leading Movers were ASTRO (+5 sen to RM3.00), IHH (+2 sen to RM4.14) and TM (+1 sen to RM5.26).Lagging Movers were MAYBANK (-48 sen to RM9.96), HLFG (-42 sen to RM14.08), CIMB (-32 sen to RM7.58), PETGAS (-30 sen to RM20.32) and MISC (-27 sen to RM4.80). Market breadth was negative with 75 gainers as compared to 964 losers.
The local bourse continued to fall further predominantly being affected by external headwind, shedding 32.94 points to close at 1,745.42. While we noticed there were brisk selling activities which saw total trading volume plunged 17.2%. The finance and property sub-sectors were being hit the most, plummeted by 457.88 point, dragged down by heavyweights Maybank, Hong Leong Financial Group, CIMB, Genting, and Sime Darby. The solemn performance was in tandem with regional peers. Hence we reckoned the markets will continued to be subdued as investors await the minutes of the US Federal Reserve’s policy meeting this week for more cues on when it will start tapering the stimulus.
Date As of: Monday, August 19, 2013
Description Volume Value Frequency
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
Total 4,395,988,922 6,753,785,834,700 155,719
As of 20 Aug 2013 Unit: M.Baht
Type Buy Sell Net
Institution 6,569.89 2,917.99 3,651.90
Proprietary 9,197.84 10,546.65 -1,348.82
Foreign 13,494.41 24,856.68 -11,362.27
Individual 28,779.83 19,720.64 9,059.19
Total Trading Value 58,041.96 M.Baht
Vietnam's benchmark VN Index closed 1.22 percent lower at 504.81 points on Tuesday as some investors took profits while others waited, hoping for some supportive news on the economy.
PetroVietnam Gas, the market's biggest company by capitalisation, led the fall, losing 2.1 percent to 70,000 ($3.32) per share after hitting a record high on Monday.
Dairy product maker Vinamilk, the second-biggest company on the Ho Chi Minh Stock Exchange, dropped 1.35 percent to 146,000 dong per share.
Among financial stocks, BaoViet Holdings, Vietnam's biggest insurer, fell 1.17 percent. VietinBank dropped 1.03 percent and Vietcombank eased 0.74 percent.
Market sentiment was not positive as Vietnam Asset Management Company, a central bank-run firm established in late July to deal with banks' bad debt, has not bought any debt, traders said.
Besides, only a small group of people can access the 30-trillion dong ($1.42 billion) loan package designed to tackle the frozen real estate market, they said.
A proposal by market regulators to raise the foreign ownership limit in listed firms "would take a very long time to have impact on the listed companies," research director Hoang Viet Phuong of Saigon Securities wrote in a note to clients on Tuesday.
The government has expressed its support for the State Securities Commission proposal to allow foreign investors to hold another 10 percent of non-voting shares. The current ceiling is at 49 percent.
Here is a snapshot of the VN Index
VN Index 504.81
PREV. CLOSE 511.02
% CHANGE -1.22%
Indonesia's key stock index slid 3.2 percent on Tuesday to the lowest close since September 2012 as worries about current account deficit spurred portfolio outflows, while Thai benchmark fell to a two-month low amid a sell-off in market large caps.
Jakarta's Composite Index closed at 4,174.98, coming off the day's low of 4,062.3.
The market fallout this week wiped out all the gain of Indonesian benchmark index this year, with a year-to-date loss of 3.3 percent, making it the worst performer in Southeast Asia and among underperformers in Asia.
Selling was most active in index heavyweights, led by Bank Rakyat Indonesia and Telekomunikasi Indonesia. But some battered big caps such as Bank Mandiri rebounded, up 2 percent after falling 7 percent at one point.
Some brokers said the market was oversold while Indonesia's two main state pension funds said on Tuesday they would increase purchases of local stocks.
Harry Su, head of equities research at broker Bahana Securities, had a 'buy' call on selected Indonesian stocks with solid fundamentals, such as consumer and telecoms.
"It is important that investors in Indonesian stocks not to throw out the baby with the bathwater, preventing an avoidable error in which good counters are eliminated when attempting to get rid of bad stocks," he said.
Thai stocks fell for a second session after data on Monday showed Thai economy shrank unexpectedly in the second quarter and Thailand's planning agency cut its forecast for economic growth this year to 3.8-4.3 percent.
Thai SET index finished down 2 percent at 1,370.86, the lowest since June 24. Bangkok also saw late bargain hunting in beaten-down big caps, including shares in top two energy firms -- PTT Pcl and PTT Exploration and Production Pcl.
The sell-down was across the region on Tuesday, sending Singapore's main index and Malaysia's key index to the lowest close in almost two months, while Vietnam was hovering around a one-week closing low.
The Philippine market has been closed for two days due to the monsoon rains and flooding in Manila. It will be closed on Wednesday for a holiday and trading will resume on Thursday.
Global investors positioned for the probability that the U.S. Federal Reserve will begin tapering stimulus as early as next month.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 398.74 407.68 -2.19
Singapore 3128.75 3173.33 -1.40
Kuala Lumpur 1745.42 1778.36 -1.85
Bangkok 1370.86 1398.48 -1.98
Jakarta 4174.98 4313.52 -3.21
Manila -- 6525.95 --
Ho Chi Minh 504.81 511.02 -1.22
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