ASEAN KEY DESTINATIONS
Flat Day in ASEAN
Light volume in ASEAN will not help markets today and it is possible investors who are buying will be very selective. Chinese New Year has taken over Asia and markets remain under pressure from a lack of interest. US markets traded flat despite good news and that will not inspire local buying today.
In Singapore the Straits Times Index (STI) closed up 26.38pts at 3,211.12. The Singapore market will be closed on Thursday and Friday for the Chinese New Year. The total value of shares traded was S$1 billion, up from S$660 million in the morning session on Tuesday. Palm oil stocks rallied as Malaysian palm oil futures rose to a three-year high on supply concerns after floods partially submerged oil palm estates in Malaysia.
Shayne Heffernan strong buys Golden Agri-Resources and Indofood Agri rose around 2 percent each, while Wilmar International gained 1.5 percent.
Genting Singapore rose as much as 3.9 percent on expectations it will post better fourth quarter result compared to the previous quarter.
Genting Singapore closed at S$2.13 with 73.3 million shares traded.
In Manila Philippine Stock Exchange index rallied 60.58 points to finish at 3,891.07. The day’s upswing at the local market was led by the holding firm and property counters, which jumped by 2.45 percent and 2.38 percent, respectively, while all other counters were up by over 1 percent.
Chinese New Year slowed trading and volume was light. Strong buying on Banco de Oro Unibank Inc., Alliance Global Group Inc., Aboitiz Power Corp., Manila Electric Co., Jollibee Foods Corp., Ayala Corp., Filinvest Land Inc., Ayala Land Inc., Manila Mining Corp., Metropolitan Bank & Trust Co.,
Fil-Estate Land Inc., Energy Development Corp., Semirara Mining Corp., Megaworld Corp., DMCI Holdings Inc. and Leisure & Resorts World Corp. lifted the market.
Philippine Long Distance Telephone Co. and SM Investments Corp. traded in the red yesterday and remain bargains.
The Stock Exchange of Thailand (SET) composite index went up 18.15 points or 1.89 percent to close at 977.84 points at the end of trading session on Wednesday afternoon. The trade value was 17.48 billion baht.
More than 2.3 million passengers are expected to use the airport between Feb 1 and 13, or a daily average of 180,000, the highest since Suvarnabhumi opened in September 2006, says Airports of Thailand Plc (AoT).
Seventy-eight percent of the passengers will be international travelers, mostly from China, Hong Kong and Taiwan, who come to Thailand to celebrate the Year of the Rabbit. Airlines and charter operators are adding 467 flights during the period, and 65 percent of them are routed from China, Hong Kong and Taiwan.
But 400,000 more arrivals are putting a strain on the airport’s ability to process passengers, and flyers are being advised to get to the airport three to four hours before boarding. Top five most active values were as follows;
PTT closed at 344.00 baht, up 6.00 baht (1.78 percent)
IVL closed at 39.50 baht, up 3.00 baht (8.22 percent)
PTTCH closed at 146.00 baht, up 6.00 baht (4.29 percent)
BANPU closed at 746.00 baht, up 18.00 baht (2.47 percent)
TOP closed at 68.00 baht, up 1.50 baht (2.26 percent)