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ASEAN STOCK WATCH Asean Affairs   3  August  2011

Asean Stock Watch- August 3



The Dow Jones Industrial Average closed down 265.87 points, or 2.19 percent, after the Senate voted 74 to 26 to lift US govt's USD 14.3 trillion debt ceiling.

The S&P 500 fell 32.89 points, or 2.56 percent, to close at 1,254.05. All 10 key S&P sectors dropped, led by consumer discretionary and industrials.

The Nasdaq composite fell 75.37 points, or 2.75 percent, to finish at 2,669.24. Fitch's triple-A rating on U.S. debt is safe for now, but could change if fundamental weakness in the U.S. economy is not addressed

Gold surged to US$ 1,658.60 an ounce, the ninth record high this year amid growing concerns about the weak U.S. economy and the euro zone debt crisis. The U.S. consumer spending unexpectedly fell in June, the first decline since September 2009, indicating that U.S. economic growth could remain sluggish in the third quarter. Meanwhile, U.S. crude oil closed at US$93.33 a barrel.


The benchmark index fell on Tuesday, after closing at a record high the previous day, on concern that global economic growth would slow following disappointing US manufacturing data.

The Jakarta Composite Index declined 15.59 points, or 0.4 percent, to close at 4,177.85, paring Monday’s 1.5 percent gain. Almost 8.5 billion shares worth Rp 6.57 trillion changed hands.

Decliners beat gainers, 161 to 91, and foreign investors bought Rp 688 billion ($81.2 million) more of shares than they sold.

The Institute for Supply Management said on Monday that its US manufacturing index fell to 50.9 in July, well below the consensus forecast of 54.9 and close to the level of 50, which indicates a contraction in the sector. The figure suggests that the world’s biggest economy might slip into recession.

“The news on US manufacturing data had some negative impact on our market, but the drop was limited,” said Janson Nasrial, an analyst at AMCapital in Jakarta. Still, “investors realized that assets in emerging markets are stabler than those in advanced markets.”

Indonesia, with limited losses, fared better than other markets in the region on Tuesday, Janson said. Major indexes in Hong Kong and Japan lost more than 1 percent.

Banks shares fell after the central bank indicated on Monday that it was concerned about an automotive lending bubble in the country. Resultant policies might curb banks’ income from automotive financing, which represents a large portion to their total loans.

Bank Mandiri, the largest lender by assets, fell 1.9 percent to Rp 7,900. Bank Negara Indonesia, the fourth biggest, dropped 3.3 percent to Rp 4,425.

Metal and crude palm oil producers dropped, following price declines in their commodities.

International Nickel Indonesia, the nation’s largest nickel producer, fell 1.8 percent to Rp 4,200. Timah, Indonesia’s state-controlled tin producer, declined 2 percent to Rp 2,425. Tin fell 1.2 percent to $27,850 on Tuesday on the London Metal Exchange.

Crude palm oil futures for October delivery dropped by 8 percent at Bursa Malaysia, curbing the companies’ future revenue.

The rupiah rose 0.2 percent to 8,465 against the dollar.


Share prices on Bursa Malaysia were sharply lower, in early trade today, as US stocks plunged overnight weighed by poor economic data, dealers said.

Asian markets are expected to see downside risk on concerns that the still fragile US economy will impact global exports and manufacturing activities.

As at 9.15 am, the benchmark FBM KLCI lost 10.83 points to 1,544.02 after opening 5.36 points lower at 1,549.49.

The Finance Index dipped 78.45 points to 14,638.84, the Industrial Index decreased 11.42 points to 2,824.36 and the Plantation Index erased 22.98 points to 7,747.12.

The FBM Emas Index fell 73.511 points to 10,654.93, the FBM Ace Index trimmed 51.04 points to 4,118.68 while the FBM Mid 70 Index wiped out 93.779 points to 11,798.53.

Losers beat gainers 309 to 37 while 96 counters were unchanged, 1,059 untraded and 34 others were suspended.

Turnover stood at 75.26 million shares worth RM69.4 million.

Actives, Sanichi Technology gained half-a-sen to eight sen, The Media Shoppe rose by the same margin to eight sen but Olympia Industries and Asian Pac Holdings slipped half-a-sen each to 29 sen and 9.5 sen, respectively.

Heavyweights, Maybank and CIMB both lost seven sen each to RM8.75 and RM8.32, respectively, Petronas Chemicals decreased five sen to RM6.76 and Sime Darby fell six sen to RM9.08.


Manila closed 0.64 percent, or 29.30 points, lower at 4,521.23.


Singapore shares opened lower on Wednesday, with the benchmark Straits Times Index at 3,125.56 in early trade, down 1.65 percent, or 51.53 points.

Around 152 million shares exchanged hands.

Losers beat gainers 223 to 13.


The Stock Exchange of Thailand main index went down 4.53 points or 0.40 percent to close at 1,139.61 points at the end of trading session on Tuesday Afternoon. The trade value was 33.96 billion baht, with 6.31 billion shares traded.

The SET50 index ended at 797.50 points, down 3.94 points or 0.49 percent, with a total trade value of 21.74 billion baht.

The SET100 index fell 8.18 points or 0.47 percent to stand at 1,738.48 points, with a total turnover of 27.74 billion baht.

The SETHD index went down 6.28 points or 0.57 percent to stand at 1,089.42 points, with total trade value of 6.70 billion baht.

The MAI index dropped 2.90 points or 0.91 percent to close at 316.70 points, with total transaction value of 760.72 million baht.

Top five most active values were as follows;

IVL closed at 46.50 baht, up 2.50 baht (5.68 percent)

SCB closed at 125.00 baht, down 2.50 baht (1.96 percent)

KTB closed at 20.50 baht, down 0.40 baht (1.91 percent)

KBANK closed at 139.50 baht, down 2.50 baht (1.76 percent)

PTT closed at 348.00 baht, down 2.00 baht (0.57 percent)


Although trade improved on both national exchanges, the two benchmark indices retreated during Tuesday's session.

On the HCM Stock Exchange, the VN-Index lost 1.3 per cent to close on 396.55 points. Losers outnumbered gainers by 179-58.

Trade value jumped 37.7 per cent over yesterday's session to VND601.2 billion (US$29.2 million) while trade volume increased to 30.5 million shares.

The 10 largest capitalised shares were mixed with insurer Bao Viet Holdings (BVH), PetroVietnam Finance (PVF) and real estate developer Vincom (VIC) bottoming out. Meanwhile, Sacombank (STB) hit its ceiling price of VND14,900 and food producer Masan Group (MSN) edged up 0.5 per cent.

Eximbank (EIB) closed unchanged while four others, including real estate developer Hoang Anh Gia Lai (HAG) which managed gains yesterday, lost between 0.8-3.6 per cent.

STB was still the most actively traded code with 2.3 million shares changing hands.

On the Ha Noi Stock Exchange, the HNX-Index plunged 1.8 per cent to 67.35 points.

Losers outnumbered gainers by 197-49.

Market value reached VND273 billion ($13.3 million), a rise of 34.2 per cent compared to yesterday, on a volume of 26 million shares.

Kim Long Securities Co (KLS) claimed the highest nationwide trading volume with nearly 3.5 million shares exchanged.


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