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ASEAN STOCK WATCH Asean Affairs   29  August  2011

Asean Stock Watch- August 29



On Friday, Wall Street recorded its first weekly gain in more than a month after US Federal Reserve chairman Ben Bernanke left the door open for more stimulus for the economy and remained upbeat about its long-term outlook.

The Dow Jones Industrial Average closed higher by 134.72 points, or 1.21 percent, to 11,284.54. The opening bell at the New York Stock Exchange will ring on time Monday. Operators of the historic Big Board and other major U.S. exchanges said they plan to open for trading as usual.

Their announcements came after city officials said damage from Tropical Storm Irene wasn't as severe as feared in New York's financial district.


The Indonesia Stock Exchange (IDX) posted a net profit of Rp 156.42 billion (US$18.3 million) in the first semester of 2011, up 6.7 percent from Rp 146.53 billion in the same period last year.

Income rose to Rp 345.88 billion in the first half of 2010 from Rp 298.17 billion the year before, according to the company’s financial statement published on Friday.

The income mainly came from stock transaction fees, which increased to Rp 216.89 billion from Rp 186.79 billion, and clearing services, which rose to Rp 107.8 billion from Rp 93.29 billion.

IDX President Director Ito Warsito said earlier stock transactions had supported the company’s income. The IDX has set the target of average daily transactions for 2011 at Rp 4.85 trillion.

“We are optimistic that we can achieve the target although in July and August trade declined to a range of Rp 3.5 trillion to Rp 4.5 trillion,” he said.

In the mid-yearly financial statement, the IDX’s short-term liabilities stood at Rp 2.61 trillion, up from Rp 1.92 trillion last year.

Meanwhile, equities rose to Rp 1.78 trillion from Rp 1.62 trillion. As per June 30, 2011, the IDX’s assets totaled Rp 4.41 trillion compared to Rp 3.556 trillion in the year ended on Dec. 31, 2010.


On Monday the Bursa Malaysia stock exchange composite index was up 7.35 points or .51 percent based on a volume of 2,406,185 shares. There were 365 gainers and 365 losers with 254 stocks remaining unchanged at 11:15 a.m.


Philippine share prices are expected to make a “big move” when trading resumes on Wednesday, but the volatility would remain unless problems in the US and Europe find clear solutions.

“Local traders will digest results from Bernanke’s official statement Friday as well as release of the US Federal Open Market Committee’s minutes on Tuesday prior to taking solid positions in equities during a three-day trading week,” Freya Natividad, investment analyst at said last Friday.

On Friday, Wall Street recorded its first weekly gain in more than a month after US Federal Reserve chairman Ben Bernanke left the door open for more stimulus for the economy and remained upbeat about its long-term outlook.

The Dow Jones Industrial Average closed higher by 134.72 points, or 1.21 percent, to 11,284.54.

The decline of the Philippine Stock Exchange index in the previous week was also a move to remain liquid in anticipation of volatility in the foreign markets.

“It seems timely to seize on intra-day softness to gradually position in performing sectors, until firm objectives are made how industrialized markets will jointly and cohesively resolve their fiscal deficit concerns without neglecting the need to stimulate employment and demand growth,” Natividad said.

Immediate support is between 4,200 and 4,250, while resistance is at the 4,350 to 4,400 range.

AB Capital advised investors to watch out for Philippine Long Distance Telephone Co. and Lepanto Consolidated Mining Co. because of recent corporate developments.

PLDT is awaiting the approval of the National Telecommunications Commission on its acquisition of Digital Telecommunications Philippines Inc., while Lepanto is also bracing for the decision of South Africa-based Gold Fields Switzerland Holdings AG on buying its subsidiary.

Change in main index

In a statement, the local bourse said San Miguel Corp., Belle Corp., Cebu Air Inc., Semirara Mining Corp. and SM Development Corp. will join the roster of blue-chip companies beginning September 12.

These companies will replace ABS-CBN Corp., Filinvest Land Inc., First Philippine Holdings Corp., Lepanto and Security Bank Corp. in the index comprising the country’s 30 most traded, most liquid and well-capitalized listed firms.

The index recomposition was the result of the latest review covering trading activity from July 2010 to June 2011.

“With the revisions in calculating our index, we hope to boost liquidity which is one of the stock market’s biggest challenges. The changes reflect our intention to adopt global best practices,” said Hans Sicat, PSE president and chief executive.

The exchange is effecting this September a change in the policy on calculating its main index.

Revisions to the criteria for a company’s inclusion in the PSEi include, among others, a higher public float requirement of 12 percent from the previous 10 percent, and improved measurements in determining liquidity and market capitalization.


Singapore shares opened higher on Monday, with the benchmark Straits Times Index at 2,755.2 in early trade, up 0.25 percent, or 7.02 points.

Around 50.4 million shares exchanged hands.

Gainers beat losers 88 to 30.


The Stock Exchange of Thailand main index went up 12.22 points or 1.19 percent to close at 1,037.22 points at the end of trading session on Friday Afternoon. The trade value was 30.75 billion baht, with 4.55 billion shares traded.

The SET50 index ended at 721.84 points, up 10.36 points or 1.46 percent, with a total trade value of 23.36 billion baht.

The SET100 index rose 21.52 points or 1.39 percent to stand at 1,572.94 points, with a total turnover of 27.56 billion baht.

The SETHD index went up 11.98 points or 1.21 percent to stand at 1,002.77 points, with total trade value of 8.31 billion baht.

The MAI index went down 0.40 points or 0.14 percent to close at 288.24 points, with total transaction value of 446.25 million baht.

Top five most active values were as follows;

PTT closed at 317.00 baht, up 8.00 baht (2.59 percent)

BANPU closed at 612.00 baht, up 22.00 baht (3.73 percent)

SCC closed at 315.00 baht, down 2.00 baht (0.63 percent)

SCB closed at 114.50 baht, unchanged

PTTCH closed at 129.00 baht, up 5.00 baht (4.03 percent)



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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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