ASEAN KEY DESTINATIONS
24 December 2013
The Straits Times Index (STI) ended 11.07 points higher or +0.36% to 3,127.29, taking the year-to-date performance to -1.26%.
The FTSE ST Mid Cap Index gained +0.62% while the FTSE ST Small Cap Index gained +0.39%. The top active stocks were Vallianz (+15.09%), SingTel (+0.56%), Keppel Corporation (+1.46%), DBS (-0.06%) and Charisma Energy (+4.23%).
The outperforming sectors today were represented by the FTSE ST Utilities Index (+2.48%). The two biggest stocks of the FTSE ST Utilities Index are United Envirotech (+0.04%) and Hyflux (+1.32%). The underperforming sector was the FTSE ST Technology Index, which declined -0.05% with Liongold Corporation’s price remaining unchanged and STATS ChipPAC’s share price gaining +1.54%. The FTSE ST Consumer Goods Index gained +0.76%.
The three most active Exchange Traded Funds (ETFs) by value today were the iShares MSCI India (+0.17%), SPDR STI ETF (+0.63%) and DBXT FTSE Vietnam ETF (-0.86%).
The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (+2.32%), CapitaMall Trust (+1.06%) and Suntec REIT (+1.33%).
The most active index warrants by value today were HSI23200MBeCW140129 (+15.79%), HSI23600MBePW140129 (-21.51%) and HSI23600MBeCW140227 (unchanged).
The most active stock warrants by value today were DBS MB eCW140502 (+2.88%), UOB MB eCW140303 (+7.26%) and KepCorp MBeCW140203 (+10.35%).
Singapore Stock Market
*ST Index 3,127.29 +11.07 3,116.22 +21.74
Volume: 1,315.1M 2,341.5M
Value: $442.1M $710.6M
Gainers/Losers: 234/106 220/206
Daily Market Commentary (Securities)
24 Dec 2013
The FBM KLCI index gained 2.63 points or 0.14% on Tuesday. The Finance Index increased 0.24% to 16837.47 points, the Properties Index up 0.46% to 1279.26 points and the Plantation Index down 0.45% to 8717.49 points. The market traded within a range of 6.82 points between an intra-day high of 1840.34 and a low of 1833.52 during the session.
Actively traded stocks include NEXTNAT-OR, TIGER, SUMATEC, XDL, SOLUTN, CSL, DAYA, SUMATEC-WB, BIMB-WA and INIX. Trading volume increased to 925.20 mil shares worth RM758.92 mil as compared to Monday’s 919.93 mil shares worth RM919.46 mil.
Leading Movers were BAT (+96 sen to RM64.00), KLK (+30 sen to RM24.22), PETGAS (+28 sen to RM23.80), RHBCAP (+11 sen to RM7.91) and HLBANK (+10 sen to RM14.40). Lagging Movers were PPB (-26 sen to RM15.50), FGV (-8 sen to RM4.37), PETCHEM (-7 sen to RM6.81), IOICORP (-7 sen to RM4.49) and GENTING (-6 sen to RM10.16). Market breadth was positive with 373 gainers as compared to 346 losers.
The KLCI edged higher to finish at 1835.49 points in the Christmas Eve. The local bourse was buoyed by the record closing in the US market in overnight trade, as the trading sentiments were boosted by the US economy recovery which catapulted the Dow Jones into another record high. However, the gain was capped by the thin trading volume just ahead of the Christmas holiday.
Date As of: 24 December 2013 Time
Description Volume Value Frequency
ETF 268,500 95,373,000 21
Stock 3,569,125,282 2,637,933,499,095 74,831
Warrant 125,892,800 15,236,049,700 458
Total 3,695,286,582 2,653,264,921,795 75,310
As of 24 December 2013 Unit: M.Baht
Type Buy Sell Net
Institution 1,796.25 2,071.24 -274.99
Proprietary 2,219.89 2,587.20 -367.31
Foreign 3,931.22 5,650.72 -1,719.51
Individual 14,450.34 12,088.53 2,361.81
Total Trading Value 22,397.70 M.Baht
Asian markets extend gains ahead of holiday
Asian markets continued gains on Tuesday as U.S. stocks extended rallies on growing optimism over the U.S. economy. Trading volumes remained light ahead of Christmas.
Stock markets enjoyed a strong run over the past few days as investors cheered data showing that the U.S. economic recovery is gaining strength. Positive economic figures on the world's largest economy helped ease concerns about the impact on emerging markets from the Federal Reserve's scaling back of its stimulus programs.
A batch of upbeat reports on the U.S. economy strengthened optimism one day before Christmas. International Monetary Fund chief Christine Lagarde said the Washington D.C.-based institution would raise its 2014 U.S. growth forecast from the current estimate of 2.5 percent, citing more certainty in 2014. Her remarks came after Friday data showed the U.S. grew at an annualized rate of 4.1 percent in the third quarter of the year, up from the previous estimate of 3.6 percent.
In data released Monday, the U.S. Commerce Department said consumer spending rose 0.5 percent in November, supporting the view that American consumers may be making a comeback.
Tokyo's Nikkei 225 index advanced 0.8 percent to 15,996.88, after touching above the 16,000 level for the first time in six years in the morning session. China's Shanghai Composite added 0.7 percent to 2,104.66. Hong Kong's Hang Seng index gained 1.1 percent to 23,179.55. In Hong Kong, stocks of China Mobile Ltd. rose 0.5 percent boosted by its deal to sell iPhones in China.
South Korea's benchmark Kospi advanced 0.5 percent to 2,006.17. Shares in Singapore, Australia and New Zealand also rose.
Earlier in the U.S., stocks closed on a positive note with the news of Apple's iPhone deal in China pushing up tech stocks. The Dow Jones industrial average and the Standard & Poor's 500 index rose 0.5 percent on Monday. The Nasdaq composite gained 1.1 percent.
Stock markets have largely held their own despite tensions in China's credit markets. Even though the Chinese monetary authorities have injected more cash into the markets, the rate banks charge each other for 7-day loans spiked to 9.8 percent at one point Monday, up from 4.3 percent at the start of the month.
Analysts said the main reason why interbank lending rates have gone up is that Chinese banks are building up their cash reserves in order to meet tighter regulatory requirements. The increase has also come as the Fed has ended months of speculation and begun "tapering" its stimulus.
For now, most analysts don't think it's a major cause for concern but developments in China's credit matters will be monitored carefully over the coming days and weeks.
"This matters for China as it was a big recipient of Fed liquidity in recent years," said Kathleen Brooks, an analyst at Forex.com. "China is the world's second-largest economy. If it looks vulnerable as we start the New Year then the rest of the world should be getting nervous."
If rates don't fall, then the fear would be that China experiences tougher credit conditions in the months ahead and that could potentially weigh on economic growth — one of the main pillars of the global economic recovery over the past few years.
Elsewhere, trading was fairly muted. In the currency markets, the euro was 0.1 percent weaker at $1.3677 while the dollar rose 0.2 percent to 104.35 yen. In the oil markets, a barrel of benchmark crude was 41 cents lower at $98.91.
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