ASEAN KEY DESTINATIONS
16 December 2013
The Straits Times Index (STI) ended 12.25 points lower or -0.40% to 3,053.77, taking the year-to-date performance to -3.58%.
The FTSE ST Mid Cap Index declined -0.32% while the FTSE ST Small Cap Index declined -0.12%. The top active stocks were SingTel (-0.28%), DBS (+0.12%), UOB (-0.89%), Keppel Corporation (-1.30%) and OCBC (-0.41%).
The outperforming sectors today were represented by the FTSE ST Consumer Services Index (+0.17%). The two biggest stocks of the FTSE ST Consumer Services Index are Genting Singapore (+0.01%) and Jardine Cycle & Carriage (unchanged). The underperforming sector was the FTSE ST Utilities Index, which declined -1.92% with United Envirotech’s price declining -3.27% and Hyflux’s share price declining -0.87%. The FTSE ST Consumer Goods Index declined -0.72% and the FTSE ST Technology Index declined -0.50%.
The three most active Exchange Traded Funds (ETFs) by value today were the iShares USD Asia Bond ETF (unchanged), iShares MSCI India (+0.34%) and SPDR STI ETF (-0.32%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-1.34%), Ascendas REIT (unchanged) and Suntec REIT (-0.33%).
The most active index warrants by value today were HSI23200MBeCW140129 (-11.68%), HSI23400MBePW131230 (+10.13%) and HSI24000MBeCW140129 (-16.00%).
The most active stock warrants by value today were DBS MB eCW140502 (-3.10%), DBS MB eCW140303 (-3.25%) and UOB MB eCW140303 (-11.34%).
Singapore Stock Market
*ST Index 3,053.77 -12.25 3,066.02 +6.98
Volume: 1,816.3M 1,631.4M
Value: $725.3M $923.3M
Gainers/Losers: 161/248 208/187
Daily Market Commentary (Securities)
16 Dec 2013
The FBM KLCI index lost 2.47 points or 0.13% on Monday. The Finance Index fell 0.24% to 16793.02 points, the Properties Index dropped 0.43% to 1282.89 points and the Plantation Index down 0.40% to 8989.52 points. The market traded within a range of 7.70 points between an intra-day high of 1841.81 and a low of 1834.11 during the session.
Actively traded stocks include BIMB-WA, SUMATEC, BARAKAH, TIGER, XDL, DVM, MAS, MINETEC, DAYA and SIME. Trading volume decreased to 1148.23 mil shares worth RM1490.78 mil as compared to Friday’s 1182.06 mil shares worth RM1680.82 mil.
Leading Movers were GENTING (+12 sen to RM10.10), SKPETRO (+9 sen to RM4.67), HLBANK (+4 sen to RM14.20), TM (+4 sen to RM5.54) and RHBCAP (+3 sen to RM7.80). Lagging Movers were BAT (-66 sen to RM63.14), ASTRO (-11 sen to RM2.93), PETGAS (-10 sen to RM22.80), UMW (-8 sen to RM12.12) and TENAGA (-8 sen to RM11.00). Market breadth was negative with 285 gainers as compared to 467 losers.
The KLCI ended marginally lower at 1837.88 points in the first trading day of the week, dragged by mild profit taking activities as our local bourse was hovering near its historic high level. Trading sentiment was cautious ahead of the FOMC meeting on this Tuesday and Wednesday.
Date As of: Friday, December 13, 2013
Description Volume Value Frequency
ETF 6,000 3,778,500 11
Stock 4,183,502,693 4,514,900,005,675 109,485
Right 7,497,100 522,234,500 224
Warrant 77,332,000 5,263,151,000 985
Total 4,268,337,793 4,520,689,169,675 110,705
As of 16 December 2013 Unit: M.Baht
Type Buy Sell Net
Institution 3,516.67 2,366.32 1,150.36
Proprietary 1,904.70 2,378.96 -474.27
Foreign 5,496.41 7,939.81 -2,443.40
Individual 12,219.33 10,452.02 1,767.30
Total Trading Value 23,137.11 M.Baht
Vietnam's benchmark VN Index fell 0.79 percent to a more than one-month low on Monday as an exchange-traded fund (ETF) sold stocks during its portfolio restructuring, analysts said.
The Market Vectors Vietnam ETF is expected to sell about 200 billion dong ($9.5 million) worth of Vietnamese shares in its fourth-quarter portfolio restructuring that will last until Friday, analysts said.
Real estate firm Vingroup plummeted 4.93 percent, dairy product maker Vinamilk fell 0.71 percent and food producer Ma San Group dropped 1.16 percent.
VN Index closed at 502.04, the lowest since Nov. 15, according to Reuters data, penetrating its psychological support level of 503 set out by analysts.
The index is likely to fall further in the short term, but buying in shares of Ma San and Petrovietnam Transportation Corp by the db x-trackers FTSE Vietnam ETF later in the week might pull it up slightly, said analyst Vu Tran Vinh Thuy at Dai Viet Securities.
Both ETFs are due to complete their portfolio restructuring before Dec. 23, analysts said.
Here is a snapshot of the VN Index at the close
VN Index 502.04
PREV. CLOSE 506.06
% CHANGE -0.79%
Indonesian and Thai stocks slipped 1 percent each to three-month lows on Monday, as investors worries over U.S. stimulus tapering, while the Philippines outperformed after a positive outlook by Moody's.
The broader Jakarta index closed 1.2 percent lower, led by agriculture shares , which dropped almost 3 percent. Foreign investors sold 341.2 billion rupiah ($28.16 million) worth of shares, Thomson Reuters data showed.
Shares in Asia's major coal miner Bumi Resources jumped 27.3 percent after financier Nat Rothschild agreed to back its parent company's plan to split with Indonesia's Bakrie family.
The Thai benchmark index dropped 1 percent, making it the worst performer in the region this year. Top energy firm PTT Pcl fell more than 2 percent to a more-than-2-year low.
The Philippine index rose 0.8 percent, after Moody's Investors Service said it is maintaining its positive outlook on the country's banking system.
Markets in Singapore and Vietnam slid 0.4 percent and 0.8 percent respectively, while Malaysia was down 0.13 percent.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 386.75 388.32 -0.40
Singapore 3053.77 3066.02 -0.40
Kuala Lumpur 1837.88 1840.35 -0.13
Bangkok 1328.40 1341.13 -0.95
Jakarta 4125.96 4174.83 -1.17
Manila 5812.54 5767.13 +0.79
Ho Chi Minh 502.04 506.06 -0.79
Asian stocks mostly fall ahead of Fed decision
Most Asian markets fell Monday as traders sought direction ahead of a key decision by the U.S. Federal Reserve expected later this week.
A positive report from Japan's central bank showing improved business sentiment, the best in six years for large manufacturers, didn't seem to lift investors' spirits as the Nikkei 225 index slipped 1.6 percent to 15,152.91.
Seoul's Kospi inched down 0.09 percent to close at 1,961.15. Hang Seng dipped 0.56 percent to 23,114.66. Stocks were down almost across the region, including Indonesia, Hong Kong, Taiwan and Singapore.
Global investors are still trying to figure out where things could be headed next. Some are watching for whether the Fed might reduce its economic stimulus, which has worked to boost stock prices recently, when it announces a decision Wednesday.
On Wall Street Friday, the Dow Jones industrial average inched up 0.1 percent to 15,755.36 for its second weekly loss in a row.
A strong U.S. economy is crucial for Japan and the rest of this region, where big exporters make for a large part of the economy.
The Japanese central bank's quarterly "tankan" survey, released Monday, showed that a key index for business confidence among large manufacturers improved to 16 from 12 in the last survey, marking the fourth straight quarter rise.
One factor working as a plus for exporters is the weaker yen, which raises the value of overseas sales when converted into yen.
Hiromichi Tamura, strategist with Nomura Securities Co. in Tokyo, said hopes were high for a recovery in Tokyo stocks as both foreign and local investors tend to buy up Japanese shares toward the end of the year and the early part of the following year.
"Expectations are high for further easing by the Bank of Japan in months ahead, and because that is already expected, speculation is rife that the bank might try to surprise with earlier timing," he said.
Optimism about a U.S. recovery is so widespread that even if the Fed takes no action, the effect in regional stocks could be positive, as that decision could be interpreted to mean that no additional action was deemed needed.
The dollar's fall in Monday trading helped push Tokyo exporters' stocks lower. Toyota Motor Corp. sank nearly 2 percent, and Honda Motor Co. fell almost 3 percent.
But Tamura said he expects the dollar to continue rising to as high as 110 yen by the end of 2014, meaning that positive news for Japan Inc. is likely to continue.
In currencies, the dollar cost 102.92 yen in late trading, down from 103.74 yen late last week. The euro stood at $1.3745 from $1.3753.
Benchmark U.S. crude for January delivery edged 23 cents lower, or 0.2 percent, to $96.37 a barrel at midday in Asia in electronic trading on the New York Mercantile Exchange.
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