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ASEAN STOCK WATCH Asean Affairs   31 January 2011

Asean Markets This Week

Shayne Heffernan

Asean is the place to be buying stocks this week, while media attention shifts to Egypt as a new reason to sell, real investors will be bargain hunting.

Thailand has had excessive selling over unfounded fears of political unrest and looks like the best place for bargain hunting, PTT, PTTEP, IVL, SCB, Banpu are all well worth buying this week. Thoresen Thai Agencies, one of Thailand’s biggest shipping companies still rates a strong buy, Shayne Heffernan has put a 43 baht price target on Thoresen for 2011.

In Singapore I am partial to the agricultural sector, food prices are rising around the world and this will show on the bottom line at Noble Group, Olam International, Golden Agri-Resources.

Indonesia and the Philippines will bounce back early in the week and there are still great buys on both, Ayala, Mandiri, Bumi, Cebu Air, San Miguel all look worth holding.

World Markets

The US economy is growing more rapidly. The Commerce Department reported Friday that gross domestic product rose at a solid 3.2 percent annual rate in the final three months of 2010.

Among key support levels Heffernan Capital Management have identified 1271 and 1263 on the S&P 500, according to Chutinush Taksinapinunt of HCM in Bangkok.

Optimism about fourth-quarter earnings helped lift stocks in recent weeks, but the latest batch of reports disappointed investors, including Ford Motor Co and

The majority of companies continue to beat expectations, though, and analysts will watch to see if that trend holds. Of the 207 companies in the S&P 500 that have reported earnings, 71 per cent have beaten analysts' expectations.

The Standard & Poor's 500 index is still up 18 percent since the start of September, roughly when the current rally began.

The Dow Jones industrial average snapped an eight-week streak of gains with Friday's close, and the S&P 500 and Nasdaq also ended with losses for the week.

The Nasdaq fell more than 2 percent on Friday while the S&P and Dow both were down more than 1 percent.


Shayne Heffernan brings more than 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over US$500m and 1 that reach a peak market cap of US$15billion. He has managed and overseen start-ups in Mining, Shipping, Technology and Financial Services.


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This year in Thailand-what next?

04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

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