ASEAN KEY DESTINATIONS
24 February 2014
The Straits Times Index (STI) ended +5.91 points higher or +0.19% to 3105.84, taking the year-to-date performance to -1.87%.
The FTSE ST Mid Cap Index declined -0.05% while the FTSE ST Small Cap Index declined -0.50%. The top active stocks were SingTel (+1.11%), OCBC (+0.10%), DBS (-0.24%), Genting (-0.37%) and Capitaland (-0.70%).
The outperforming sectors today were represented by the FTSE ST Telecommunications Index (+1.06%). The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+1.11%) and StarHub (+0.73%). The underperforming sector was the FTSE ST Utilities Index, which declined -1.66% with Hyflux’s share price declining -1.26% and HanKore’s share price declining -0.81%.The FTSE ST Basic Materials Index gained +0.26%. The FTSE ST Financials Index declined -0.17%.
The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (+0.74%), Lyxor ETF Asia (-1.77%), IS MSCI India (+1.21%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (+0.53%), CapitaCommercial Trust (+0.70%), Ascendas REIT (unchanged).
The most active index warrants by value today were HSI22400MBePW140328 (+11.22%), HSI22800MBeCW140328 (-22.67%), HSI22000MBeCW140328 (-15.58%).
The most active stock warrants by value today were UOB MB eCW140701 (-5.20%), KepCorp MBeCW140603 (-4.17%), DBS MB eCW140604 (-2.60%).
Singapore Stock Market
*ST Index 3,105.84 +5.91 3,099.93 +13.29
Volume: 1,911.9M 1,993.2M
Value: $903.6M $1,119.2M
Gainers/Losers: 200/235 264/151
Daily Market Commentary (Securities)
24 Feb 2014
The FBM KLCI index lost 2.06 points or 0.11% on Monday. The Finance Index fell 0.01% to 16563.16 points, the Properties Index dropped 0.15% to 1315.47 points and the Plantation Index rose 0.66% to 8799.96 points. The market traded within a range of 7.27 points between an intra-day high of 1833.80 and a low of 1826.53 during the session.
Actively traded stocks include LUSTER, ASIABIO, LUSTER-WA, MINETEC, SUMATEC, KNM-WA, KNM, DAYA, LUSTER-WB and MAS. Trading volume increased to 3063.39 mil shares worth RM2076.95 mil as compared to Friday’s 2982.68 mil shares worth RM2399.25 mil. Leading Movers were IOICORP (+6 sen to RM4.61), SIME (+7 sen to RM9.09), KLK (+40 sen to RM24.40), TENAGA (+4 sen to RM12.04) and CIMB (+2 sen to RM7.09). Lagging Movers were GENTING (-26 sen to RM10.10), PETGAS (-30 sen to RM23.20), MISC (-12 sen to RM6.28), AXIATA (-2 sen to RM6.53) and DIGI (-2 sen to RM5.09). Market breadth was negative with 432 gainers as compared to 446 losers.
The FBM KLCI ended the first day of the week with a lacklustre performance, sliding 2.06 points to close at 1828.68. We reckon most investors locked in profits as volume traded for the day was brisk. Elsewhere, most regional peers closed the day in red amid speculation that China’s banks have reduced lending to the property industry stirring fears among investors.
Date As of: 24 February 2014
Description Volume Value Frequency
ETF 137,800 67,730,000 221
Stock 3,753,020,839 4,634,926,652,090 219,819
Right 935,000 1,788,000 49
Warrant 43,026,800 4,514,500,600 906
Total 3,797,120,439 4,639,510,670,690 220,995
Thailand Futures Exchange to suspend and terminate 6M THBFIX from March 17, 2014 onwards
Bangkok, Feb 24, 2014 – Thailand Futures Exchange PCL (TFEX), under The Stock Exchange of Thailand group, announced the Securities and Exchange Commission has approved the cancellation of six-month interest rate futures THBFIX (6M THFIX), effective from March 17, 2014. The last trading day for this futures contract will be on March 14, 2014.
The termination of 6M THBFIX futures is expected not to affect many investors since there are no open interests left. Furthermore, institutional investors which are the primary group of investors for this product are still able to conduct a similar trade via other financial institutions such as commercial banks.
Due to the changes of the THBFIX’s features earlier this year, such as underlying interest rate, calculation method and information dissemination period, causing inconvenience and difficulties to investors, TFEX has discussed the cancellation thoroughly with its broker members.
However, the 3-month BIBOR and 5-year government bonds are still available for those needing to manage their interest rate risk. For more information, please visit this website www.tfex.co.th .
Thai exchange appoints new president of alternative bourse for SMEs
BANGKOK, February 24, 2014 – The Stock Exchange of Thailand (SET) has appointed Prapan Charoenprawatt as senior vice president of SET and president of its Market for Alternative Investment (mai), helping small- and medium-sized enterprises (SMEs) raise funds and enhance quality and sustainability, effective March 1, 2014.
SET President Charamporn Jotikasthira said that SET's Board of Governors approved promoting Prapan to be mai’s fifth president, with a four-year term, in accordance with SET’s succession plan, replacing Chanitr Charnchainarong whose term will end March 1. Prapan has been vice president, Executive Education Department, Capital Market Academy, operated by SET.
In the Issuer and Listing Division overseen by Chanitr, Senior Vice Present Paveena Sriphothong focuses on expanding the number of SET-listed companies to raise market capitalization of the main board, including developing new products, such as infrastructure funds and real estate investment trusts, to build SET’s attractiveness among domestic and international investors.
“With Prapan’s proven success and expertise, we strongly believe that under his leadership, mai will to continue to expand in both quality and quantity of listings. The prospects are bright for mai to keep on being a key fundraising channel for businesses and a favored choice for investors, accelerating Thai economic growth,” Charamporn added.
Since its founding almost 15 years ago, mai has raised over THB 56.13 billion (approx. USD 1.72 billion) (as of February 21, 2014), with mai’s index at 373.52 points, a market capitalization of THB 167.51 billion (USD 5.15 billion), and 95 firms are currently listed. In addition, 15 mai-listed firms have successfully grown to the point where they were listed on SET.
Prapan earned his MBA from Chulalongkorn University, Bangkok. He joined SET in 2005 as mai vice president (2005-2008) before being moved to be responsible for enterprise development at the Capital Market Development Fund (CMDF), under the SET group.
As of 24 February 2014 Unit: M.Baht
Type Buy Sell Net
Institution 1,431.69 1,609.10 -177.41
Proprietary 2,659.09 2,316.06 343.03
Foreign 5,301.93 5,091.01 210.93
Individual 10,136.93 10,513.47 -376.54
Total Trading Value 19,529.64 M.Baht
Vietnam index rises 1 pct on foreign ownership hike
Vietnam's benchmark VN Index closed up 1.05 percent at 576.58 points on Monday on news that the government would make a decision late this month on raising the foreign ownership limit in some listed firms, analysts said.
News on the government planning to raise the foreign ownership in some listed firm to 60 percent from 49 percent first emerged in late December 2013.
On Monday the Hai Quan Online (Customs) newspaper said the government may finalise the move in late February, quoting the State Securities Commission, the stock market watchdog.
"Investors' excitement on the raise, possibly signed by the prime minister this week, has erased worries over the fear of corrections (of the index)," said Trinh Hoai Giang, a senior official at Ho Chi Minh City Securities.
Saigon Securities Incorp climbed 4.76 percent, Ho Chi Minh Securities Corp jumped 5.96 percent and technology firm FPT Corp advanced 2.59 percent.
The three firms are among 30 listed companies which currently have foreign ownership at limit, Giang said.
Analysts had expected the index to ease to 535-540 points due to extended selling that lifted the volume on the exchange to a record high last Thursday.
Here is a snapshot of the VN Index at the close
VN Index 576.58
PREV. CLOSE 570.57
% CHANGE 1.05%
SE Asia Stocks-Mostly down on foreign selling; Indonesia falls from 5-mo high
Most Southeast Asian stocks ended weaker on Monday with foreign investors exiting from Indonesia, Malaysia and the Philippines, while Jakarta fell from a five-month high amid caution over the impact of the U.S. Federal Reserve's stimulus withdrawal.
The Jakarta Composite Index ended 0.5 percent down, falling from a five-month closing high hit in the previous session despite a net foreign inflow of $46.27 million.
Thai stocks ended 0.2 percent weaker at their lowest close since Feb. 11, led by a 1.9 percent fall in the country's largest mobile operator Advanced Info Service Pcl (AIS)
and a 2.1 percent drop in Shin Corp.
Data showed more subscribers had switched to rival mobile networks, following a call by anti-government protesters to boycott businesses linked to Prime Minister Yingluck Shinawatra.
Bangkok saw a net foreign inflow of $6.48 million, but has witnessed a foreign outflow of about $970 million in the 20 straight sessions through Friday, on concerns over continued
Malaysian shares edged down 0.1 percent with a foreign outflow of $17.30 million, while Philippine stocks ended 0.2 percent weaker with a net foreign outflow of $48.46 million.
Vietnam's benchmark VN Index closed up 1 percent on news that the government would make a decision late this month on raising the foreign ownership limit in some listed firms,
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 3 95.42 395.02 +0.10
Singapore 3105.84 3099.93 +0.19
Kuala Lumpur 1828.68 1830.74 -0.11
Bangkok 1301.38 1304.21 -0.22
Jakarta 4623.57 4646.15 -0.49
Manila 6296.32 6308.36 -0.19
Ho Chi Minh 576.58 570.07 +1.05