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ASEAN STOCK WATCH Asean Affairs 31 January 2013 

ASEAN Stocks to Open Mixed

Wall St  fell on Wednesday after the Federal Reserve said in its latest statement that economic growth had stalled but indicated the pullback was likely temporary.

Consumer confidence in China rebounded in the fourth quarter as economic growth picked up amid low inflation, according to a Nielsen survey released on Wednesday.

The quarterly consumer confidence index rose by 2 percentage points to 108 in the last quarter — 17 points ahead of the global average, the survey showed. The index dropped to 105 in the second quarter in 2012, from 110 in the first quarter, before stabilizing at 106 in the third quarter.

Personal financial expectations grew, as did consumer optimism over employment.

Consumer confidence has been given a boost, said Yan Xuan, greater China chief for the New York-based market information provider.

"The rise of the confidence index is a positive signal pointing to a rosy economic picture for 2013."

Standard Chartered upgraded its forecast for GDP growth for 2013 on Tuesday to 8.3 percent and for 2014 to 8.2 percent, from 7.8 percent for both years.

Tokyo jumped 2.28 percent, or 247.23 points, to 11,113.95, its highest finish since April 2010. Sydney rose 0.16 percent, or 7.7 points, to 4,896.7 while Seoul climbed 0.43 percent, or 8.47 points, to 1,964.43.

Hong Kong stocks ended 0.71 percent higher, adding 166.89 points to 23,822.06, and Shanghai gained 1.00 percent, or 23.50 points, to 2,382.48.

– Taipei rose 0.40 percent, or 30.98 points, to 7,832.98.

Taiwan Semiconductor Manufacturing Co. was 0.50 percent higher at Tw$101.5 while leading smartphone maker HTC added 1.93 percent to Tw$290.0.

– Manila added 0.59 percent, or 36.50 points, to 6,271.23.

Philippine Long Distance Telephone Co. added 1.4 percent to close at 2,844 pesos and Metro Pacific Investments rose 4.0 percent to 5.22 pesos.

– Wellington rose 1.13 percent, or 47.26 points, to close at a five-year high of 4,247.55.

Telecom added 1.91 percent to NZ$2.359 and Fletcher Building gained 1.40 percent to end at NZ$9.39.

– Singapore closed up 0.80 percent, or 26.15 points, to 3,285.90.

Oil-rig maker Keppel Corp. gained 0.95 percent to Sg$11.64 while DBS Bank rose 0.41 percent to Sg$14.83.

– Kuala Lumpur shares fell 9.61 points, or 0.59 percent, to close at 1,627.73.

Axiata Group shed 0.9 percent to 6.29 ringgit, while Telekom Malaysia fell 0.4 percent to 5.56. Maxis added 0.2 percent to 6.37 ringgit.

– Jakarta ended up 13.94 points, or 0.31 percent, at 4,452,98.

Cigarette producer Gudang Garam rose 2.68 percent to 51,700 rupiah, food manufacturer Cahaya Kalbar gained 2.14 percent to 1,430 rupiah while carmaker Astra International lost 1.30 percent to 7,600 rupiah.

– Bangkok rose 0.81 percent, or 12.05 points, to close at 1,490.82.

Coal producer Banpu gained 0.51 percent to 391 baht while PTT jumped 3.88 percent to 348 baht.

– Mumbai ended flat, up 0.07 percent, or 14.10 points, to 20,005.00, even as the rupee rose to 53.3 to the dollar, a three-month-high.

Hindustan Unilever, the local arm of food giant Unilever, rose 1.97 percent to 477.75 rupees while Reliance Industries rose 1.87 percent to 899.05 rupees.

Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

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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






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