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ASEAN STOCK WATCH Asean Affairs   31  August  2011

Asean Stock Watch- August 31

AseanAffairs

US

Dow Jones Industrial Average closed up 20.70 points, or 0.18 percent at 11,559.95.

S&P 500 gained 2.84 points, or 0.23 percent, to end at 1,212.92, while the Nasdaq composite rose 14 points, or 0.55 percent, to close at 2,576.11.

US consumers confidence index plunged in August to the lowest level in over two years as consumers are concerned over the weak U.S. economy and the nation's huge debts.

Crude oil closed at US$88.64 a barrel, while gold settled at $1,829.90 an ounce.

Indonesia

Indonesia's stock market will be closed for a week for Eid al--Fitr holiday starting on Monday, August 29. Trading will resume on Monday, September 5.

Malaysia

The Bursa Malaysia exchange is closed from Tuesday, August 30 to September 1 for the Hari Raya and Merdeka Day celebrations. The exchange reopens Friday, September 2.

Philippines

The Philippines exchange was closed Monday and Tuesday in observance of Heroes’ Day and the end of Ramadan, respectively. Last week, the main-share Philippine Stock Exchange index shed 0.79 percent to close at 4,305.56 on Friday.

Singapore

Singapore shares opened higher on Wednesday, with the benchmark Straits Times Index at 2,814.86 in early trade, up 0.82 percent, or 22.97 points.

Around 213.2 million shares exchanged hands.

Gainers beat losers 196 to 43.

Thailand

Thai composite stocks index (SET) closed on Tuesday lower at 1,044.97, down 10.66 points, or 1.01 percent amid Bt 24.73 billion turnover.

Blue chip SET-50 index was at 727.78, down 8.69 points, or 1.18 per cent.

Top five active (value) stocks: PTT, IVL, KBANK, BANPU, PTTEP.

Vietnam

Trading on Tuesday marked a two-month high with a value of nearly VND1.5 trillion (US$72.8 million) on both national exchanges, despite the IMF's lower forecast for global economic growth this year from 4.3 percent to 4.2 percent.

Shares on the Asian market also rose on the strongest US consumer spending data in five months.

"The central bank has been successful in stabilising the foreign exchange market for the past few months," said analyst Nguyen The Hung of the Maritime Bank's securities company.

"In addition, the purchase of a large amount of foreign currencies also contributed to strengthening foreign exchange reserves."

The foreign exchange market was forecast to be less volatile for the rest of the year, he said.

On the HCM Stock Exchange yesterday, the VN-Index edged up 1.4 percent to 419.26 points.

Market value jumped 20.3 pe cent over Monday's figure to VND739.9 billion ($35.9 million) on a volume of 45.3 million shares.

However, contrary to the previous session when all of the 10 leading shares by capitalisation managed gains, three lost value yesterday: Eximbank (EIB) and Sacombank (STB) both down 0.7 percent and food processor Masan (MSN) down 1 percent.

Real estate developer Vincom (VIC) hit its ceiling price of VND113,000.

Insurer Bao Viet Holdings (BVH) yesterday announced its audited business results for the first six months this year with an after-tax profit of VND411 billion ($20 million), 43 per cent of the year plan.

"The second half's results are normally better than the first," said BVH communications officer Hoang Viet Ha.

BVH closed yesterday's session up 0.8 percent.

Saigon Securities Inc (SSI) saw the highest trading volume on the southern bourse with nearly 3.6 million shares exchanged.

On the Hanoi Stock Exchange, the HNX-Index added 1.7 percent, ending the session at 72.56 points.

The value of trades increased 30 percent to VND756 billion ($36.7 million) compared to Monday.

Trading volume rose to 67.2 million shares, representing a 25.8 per cent increase.

Kim Long Securities Co (KLS) was the most active code nationwide, with 8.7 million shares changing hands.

Foreign investors yesterday were again sellers on both bourses with a combined net of VND26 billion ($1.3 million).

The short-term uptrend will likely continue in the coming session with the VN-Index reaching 431 points and the HNX-Index reaching 77 points, PetroVietnam Securities Co analysts predicted.



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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.

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