Sign up | Log in



Home  >>  Daily News  >>  ASEAN STOCK WATCH

ASEAN STOCK WATCH Asean Affairs 29 January 2013 

ASEAN Market Preview

The Dow Jones industrial average .DJI dropped 12.98 points, or 0.09 percent, to 13,883.00. The Standard & Poor's 500 Index .SPX dropped 2.71 points, or 0.18 percent, to 1,500.25. The Nasdaq Composite Index .IXIC gained 4.59 points, or 0.15 percent, to 3,154.30.

The Commerce Department said on Monday that non-defense capital goods orders excluding aircraft, a closely watched proxy for investment plans, edged up 0.2 percent last month.

Many economists expected businesses to invest more timidly late last year because of uncertainty over government spending cuts and tax increases, which had been scheduled to kick in this month. Congress ultimately struck a last-minute deal to avoid or postpone most of the austerity measures.
Despite the uncertainty, Monday's data pointed to growing economic momentum as companies sensed improved consumer demand.

"It certainly seems to us that companies are slowly but surely expanding," said Tim Ghriskey, chief investment officer at Solaris Group in Bedford Hills, New York.

In a further sign of business confidence, the November reading on capital spending plans was revised higher to show a 3 percent gain, up from the 2.6 percent rise reported a month ago.

A second report showed a measure of upcoming home resales took a breather in December, declining 4.3 percent. Still, the housing sector posted a rebound last year and economists expect it will add to growth again in 2013.

"It is the basic policy of the People's Bank of China to let the renminbi compete with US dollar or euro fairly in the international market," Yi said in an interview on the sidelines of the annual meeting of the World Economic Forum Saturday.

In the past, it was not allowed to use the renminbi in cross-border trade transactions and investments. "What we are doing now is nothing but remove discrimination against the renminbi and let it act just as other reserve currencies," he said.

On concerns about the potential rise of the Chinese currency, Yi said, "It is just natural that foreigners might have some concerns, but it is not our policy to specifically promote the renminbi, and I hope people of other countries can treat it with calm."

"Whether the pace of the internationalization is a little bit quicker or slower, it is always and completely the choice of the market," he added.

"I would be actually pleased to see people have more confidence in the renminbi and choose it over other currencies thanks to a more sophisticated market, better implementation of China's monetary policy, China's macroeconomic stability and social stability, and stronger rule of law," he said.

Tokyo surged above the 11,000 mark for the first time since April 2010 in the morning as the yen extended its recent downward trend but profit-taking soon took hold and the index ended down 0.94 percent, or 102.34 points, at 10,824.31.

Seoul dipped 0.36 percent, or 6.98 points, to 1,939.71, while Hong Kong added 0.39 percent, or 91.45 points, to end at 23,671.88.

Shanghai surged 2.41 percent, or 55.21 points, to 2,346.51 after authorities said they would expand the number of securities for margin trading, boosting liquidity hopes.

– Taipei added 0.55 percent, or 42.09 points, to 7,714.67.

Leading integrated circuits design house MediaTek gained 0.93 percent at Tw$325.0 while Taiwan Semiconductor Manufacturing Co. was 0.30 percent higher at Tw$99.3.

– Manila closed 0.40 percent higher, adding 24.78 points to 6,192.42.

Energy Development Corp. gained 2.43 percent to 7.15 pesos while Manila Electric Co. rose 3.37 percent to 294.20 pesos but Ayala Corp. fell 0.27 percent to 550 pesos.

– Wellington rose 0.11 percent, or 4.62 points, to 4,204.44.

Fletcher Building gained 0.11 percent to NZ$9.21, Trade Me added 0.24 percent to NZ$4.15 and Telecom put on 0.21 percent to NZ$2.39.

– Singapore gained 0.14 percent, or 4.60 points, to 3,273.91.

United Overseas Bank slid 0.32 percent to Sg$18.80 and Jardine Cycle and Carriage shed 0.80 percent to Sg$51.83.

– Jakarta lost 0.47 percent, or 20.66 points, to 4,416.94.

Tin miner Timah slipped 2.44 percent to 1,600 rupiah, while food manufacturer Indofood Sukses Makmur rose 0.83 percent to 6,050 rupiah.

– Bangkok rose 0.73 percent, or 10.64 points, to close at 1,472.05.

Communications giant True Corp. leapt 9.32 percent to 6.45 baht while Bangkok Bank climbed 4.95 percent to 212 baht.

– Mumbai ended flat, edging down 0.18 points to 20,103.35.

Oil and Natural Gas Corp. fell 1.76 percent to 335 rupees while Reliance Industries fell 1.56 percent to 897.65 rupees.

Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

Live Trading News
Thomson Reuters
Knightsbridge Law
Heffernan Capital Management
Heffernan Shipping

Chinese Society of Economists
American Economic Society
Linda Johnson, Business Development Director - Private Client Group, Heffernan Capital Management
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408 Fax: +65 6329 9699
Email :
New York 347 5th Avenue, Suite 1402-508 NY, NY 10016


Comment on this Article. Send them to
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below 

Today's  Stories    29 January 2013   
Subsribe Now !
• Survey shows economic volatility on top of Asean CEOs' concerns Subcribe: Asean Affairs Global Magazine
• ASEAN Tourism Forum in Vientiane Report Asean Affairs Premium
• Malaysia new auto sales on a high
• Vietnam, EU trade talks begin
Research Reports
on Thailand 2007-2008

•Textiles and Garments Industry

•Coffee industry

•Leather and footwear industry

•Shrimp industry

• FDI jumps by 23% into Indonesia
• Malaysian insurance sector on a high
• Malaysian Property prices to keep rising  
• Thai Tycoon plans to raise his own loans for F&N acquisition  
Asean Analysis              29 January  2013      Advertise Your Brand
• Asean Analysis- January 29, 2013  
• Asean Weekly- January 24, 2013 Sponsor Our Events

Asean Stock Watch      31  January  2013    

• Asean Stock Watch- January 29, 2013
• Asean Stock Watch- January 31, 2013

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent

• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   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






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand