ASEAN KEY DESTINATIONS
20 December 2013
The Straits Times Index (STI) ended 24.25 points higher or +0.79% to 3,094.48, taking the year-to-date performance to -2.29%.
The FTSE ST Mid Cap Index gained +0.51% while the FTSE ST Small Cap Index gained +0.48%. The top active stocks were DBS (+1.03%), Keppel Corporation (+1.12%), SingTel (+1.42%), Keppel Land (+0.61%) and Global Logistic Properties (-0.35%).
The outperforming sectors today were represented by the FTSE ST Health Care Index (+2.27%). The two biggest stocks of the FTSE ST Health Care Index are Biosensors International Group (+3.30%) and Raffles Medical Group (+0.98%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -0.34% with Midas Holdings’ price remaining unchanged and Geo Energy Resources’ share price declining -1.59%. The FTSE ST Consumer Goods Index declined -0.33% while the FTSE ST Technology Index gained +0.69%.
The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (-0.53%), DBXT CSI300 ETF (-1.94%) and iShares MSCI India (-0.17%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (+2.20%), Ascendas REIT (unchanged) and Suntec REIT (unchanged).
The most active index warrants by value today were HSI23200MBeCW140129 (-7.00%), HSI23600MBePW140129 (+1.09%) and HSI24000MBeCW140129 (-11.77%).
The most active stock warrants by value today were DBS MB eCW140502 (+9.68%), DBS MB eCW140303 (+9.59%) and UOB MB eCW140303 (+18.75%).
Singapore Stock Market
*ST Index 3,094.48 +24.25 3,070.23 +8.45
Volume: 3,043.2M 2,795.1M
Value: $1,155.7M $1,057.8M
Gainers/Losers: 269/161 218/208
Daily Market Commentary (Securities)
20 Dec 2013
The FBM KLCI index lost 8.15 points on Friday. The Finance Index fell 0.30% to 16838.15 points, the Properties Index up 0.13% to 1285.1 points and the Plantation Index down 0.75% to 8833.61 points. The market traded within a range of 11.20 points between an intra-day high of 1848.79 and a low of 1837.59 during the session.
Actively traded stocks include SUMATEC, TIGER, DAYA, HIBISCS-WA, SUMATEC-WB, INFOTEC, BJCORP, INIX, BARAKAH and XDL. Trading volume decreased to 980.25 mil shares worth RM1365.82 mil as compared to Thursday’s 1062.54 mil shares worth RM1559.91 mil.
Leading Movers were AMMB (+24 sen to RM7.50), PETGAS (+14 sen to RM24.14), GENM (+7 sen to RM4.40), HLBANK (+6 sen to RM14.18) and SIME (+6 sen to RM9.61). Lagging Movers were BAT (-140 sen to RM62.60), PPB (-78 sen to RM15.20), KLK (-70 sen to RM24.20), TENAGA (-22 sen to RM10.82) and HLFG (-16 sen to RM15.70). Market breadth was negative with 262 gainers as compared to 505 losers.
The KLCI closed lower at 1838.03 points, mainly dragged down by losses in KLK, PPB, and SKPETRO. Trading was thin as investors were staying on the sideline amid assessing the impact of bond stimulus tapering by U.S. Federal Reserve. Regionally, equity market in China sank into deep red, hit by fears of cash crunch.
Date As of: 20 December 2013
Description Volume Value Frequency
ETF 7,000 3,205,000 04
Stock 4,484,444,212 4,457,127,899,760 105,463
Right 25,981,500 25,981,500 38
Warrant 13,721,319 957,912,910 299
Total 4,524,154,031 4,458,114,999,170 105,804
Thai alternative bourse to list Ocean Commerce on December 23
BANGKOK, December 20, 2013 - The Stock Exchange of Thailand (SET) welcomes Ocean Commerce pcl, an importer, assembler and manufacturer of faucets, water supply
products, and sanitary wares, to its Market for Alternative Investment (mai).
The company will list and start trading on December 23 under the ticker symbol "OCEAN," with a market capitalization of THB 396 million (approx. USD 12.38 million).
SET Executive Vice President Chanitr Charnchainarong said that OCEAN will be the 15th new listing on mai this year. The company operates under the brands
"DUSS," "Saza," "3P," "Bay," "Bay-Tex," "Feed," "Union," and "Icon."
OCEAN has a paid-up registered capital of THB 110 million, with a par value of THB 0.25 each, consisting of 340 million existing common shares and 100 million newly-issued shares.
The new share issues were offered to the general public through an IPO on December 16-18, at THB 0.90 per share, for a total of THB 90 million. Asset Pro Management Co., Ltd. is the company's financial advisor, and Capital Nomura
Securities pcl is its underwriter.
Uchai Vilailerstpoca, Managing Director of OCEAN, said that the company was committed to consistently develop its production effectiveness and quality in order to offer safe, good quality products at reasonable prices, following its slogan "DUSS for better life." Fundraising proceeds would be used to improve
efficiency of existing production line, to expand its factory in Singburi province and for working capital.
OCEAN's three major shareholders after the IPO are Mr. Uchai Vilailerstpoca (76.00 percent), the Ngamarunchot Group (1.27 percent) and Miss Ploypaphat Sittirujjiroj (0.50 percent). The IPO price had a price-earnings (P/E ratio) of
24.23 times, calculated using earnings over the last four quarters (from October 1 of 2012 to September 30 of 2013), divided by the number of fully-diluted shares, equivalent to earnings per share of THB 0.04. The company's dividend
policy is to pay no less than 40 percent of net profits after corporate taxes and reserve.
For more information on OCEAN, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general
information at the company's website at www.dussthai.com and www.mai.or.th
As of 20 December 2013 Unit: M.Baht
Type Buy Sell Net
Institution 2,173.45 2,590.92 -417.47
Proprietary 2,125.26 2,375.34 -250.09
Foreign 6,240.69 6,960.84 -720.15
Individual 11,578.95 10,191.24 1,387.71
Total Trading Value 22,118.36 M.Baht
Asia markets muted on China liquidity, Fed move
Asian stock trading was muted Friday after China moved to prevent a new liquidity crunch and markets continued to react to the U.S. Federal Reserve's long-awaited decision to begin to ease off on its easy-money stimulus policy.
The dollar strengthened against the Japanese yen, hitting a five-year high, after the country's central bank decided to hold steady on its monetary policy instead of opting for stimulus.
Japan's regional heavyweight, the Nikkei index, recovered some early losses near a six-year peak at 15,837.31 as investors welcomed a continued weak yen expected to boost exports. Hong Kong's Hang Seng index was down by 0.7 percent to 22,729.62 and China's Shanghai composite dropped by 1.6 percent to 2,192.07 on fresh concerns of a shortage of credit.
The People's Bank of China moved late Thursday to inject liquidity after the interbank market showed stress, but concerns over a repeat of the summer's credit crunch weighed on the market.
Nomura research analyst Zhiwei Zhang said in note to investors that the Chinese bank's action "will likely help to prevent a recurrence of the June liquidity squeeze in the short term" but added that investors, especially commercial banks, are still nervous in the wake of the U.S. Fed's decision to cut back next month on the $85 billion in bonds it has been buying up each month, which has kept interest rates down and injected money into emerging markets as investors sought higher returns.
After months of speculation that it was about to embark on so-called "tapering," the Fed finally began to end its latest asset-purchase program. Policymakers decided to cut from January $5 billion each from the Fed's monthly purchases of U.S. Treasuries and mortgage backed securities. It also said it "will likely reduce the pace of asset purchases in further measured steps at future meetings."
However, mindful of the impact on markets, the Fed emphasized that its main interest rate would remain low until U.S. unemployment falls below 6.5 percent. It's now 7 percent.
Markets worldwide mostly reacted in relief to the Fed's decision, especially since it was accompanied by a commitment to low interest rates for a while yet. However, jitters over the impact on emerging economies kept some markets in check.
On Friday, the South Korea's Kospi index was up 0.4 percent to 1,983.35 and Taiwan's Taiex flat at 8,408.53. The Sensex index on the Bombay Stock Exchange was up 0.6 percent to 20,038.18 as traders expressed relief that India's central bank held off on another interest rate hike, despite high inflation.
In the U.S., trading was fairly cautious after a post-Fed advance the day before — the Dow Jones industrial average was flat on Thursday at 16,168 while the broader S&P 500 index fell 0.1 percent to 1,808.
In Europe, the FTSE 100 index of leading British shares closed up 1.4 percent at 6,584.70 on Thursday while Germany's DAX rose 1.7 percent to 9,335.74. The CAC-40 in France ended 1.6 percent higher at 4,177.03.
In the currency markets, the dollar continued to strengthen against the yen in the wake of the Fed decision, climbing by 0.1 percent to hit a fresh five-year high of 104.43 on Friday. Against the euro, the dollar was flat at $1.3660.
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