ASEAN KEY DESTINATIONS
18 July 2013
The Straits Times Index (STI) ended +9.87 points higher or +0.31% higher at 3,218.20, taking the year-to-date performance to +1.61%.
The FTSE ST Mid Cap Index gained +0.46% while the FTSE ST Small Cap Index gained +0.05%.
The top active stocks were TH Bev (-4.24%), SingTel (+0.53%), Ascendas REIT (+4.02%), Keppel Corp (+0.18%) and DBS (+1.16%).
The outperforming sectors today were represented by the FTSE ST Utilities Index which gained +0.75%, with United Envirotech remaining unchanged and Hyflux unchanged. The underperforming sector, FTSE ST Basic Materials declined -1.31%. The two biggest stocks of the Basic Materials Index are Midas Holdings (unchanged) and Geo Energy (-1.28%) .The FTSE ST Health Care Index declined -0.74% and the FTSE ST Industrials Index gained +0.60%.
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Singapore Stock Market
*ST Index 3,218.2 +9.87 3,208.33 -16.63
Volume: 3,370.5M 3,184M
Value: $1,103.8M $1,199M
Gainers/Losers: 216/210 199/216
18 July 2013
Bursa’s Half Year-on-Half Year Results – comparison to corresponding 1H2012
Bursa Malaysia Berhad (“Bursa Malaysia” or “the Exchange”) today announced their best financial results for the quarter and first half since the 2007 rally and a special 20 sen dividend on top of the 16 sen dividend to be distributed to the shareholders.
“Bursa Malaysia’s solid performance in 1H13 is due to the stronger performance from our three markets (Securities, Derivatives and Islamic). All three markets recorded high double digit growth in respective traded volumes as a result of increased foreign participation and retail participation. This performance is a reflection of the local and global interest and confidence in Malaysia’s strong fundamentals. Bursa Malaysia has not seen such momentum in the past six years,” said Dato’ Tajuddin Atan, Chief Executive Officer of Bursa Malaysia Berhad.
For the 1H13, the Exchange delivered a profit after tax and minority interest (“PATAMI”) of RM93.0 million, a 19% spike compared to the corresponding period last year. The annualised 1H13 net return on average equity (“ROE”) increased by 14% to 21% whilst the earnings per share (“EPS”) moved up 19% to 17.5 sen. Cost-to-income ratio improved, marking a 7% drop to 45%.
Total operating revenue was up 13% to RM223.9 million attributable largely to an increase in the securities trading revenue on the back of a more buoyant market post Malaysia’s 13th General Elections on 5 May 2013.
Bursa Malaysia’s operating expenses remained fairly stable at RM108.0 million compared to RM103.9 million, up 4%, primarily due to a salary review and adjustment as the Exchange introduced talent development and retention initiatives as part of its continued efforts to remain competitive in attracting and retaining talent.
For the period under review, revenue from the securities market registered strong double digit performance of 17% bringing the current total to RM109.0 million. This improved performance is derived from a higher average daily trading value (“ADV”) of RM2.06 billion, an increase of 19% from RM1.74 billion for the corresponding period under review.
The derivatives market’s average daily contracts (“ADC”) traded expanded by 21% which saw the ADC increase from 35,845 contracts to 43,358 contracts as a result of increased foreign participation. On the Islamic market front, the ADV of Bursa Suq-Al Sila was up 88% supported by active trading by new members.
Bursa’s Quarter-on-Quarter Results – comparison to corresponding 2Q12
Bursa Malaysia registered a record performance in the second quarter of 2013, the best quarter financial results since the 2007 rally. Operating revenue increased 26% from RM96.7 million to RM122.2 million due to heightened activities in all three markets. The ADV for the securities market increased by 57% to RM2.39 billion while ADC traded for the derivatives market increased 3% to 41,673 contracts. On the Islamic market front, the ADV of Bursa Suq-Al Sila increased by 57% to RM3.4 billion.
Dato’ Tajuddin said, “In the coming months, we will be focusing on value extraction in order to take advantage of all the initiatives and projects which we have worked hard to complete. We will continue to build for the future to further strengthen our breadth and depth of the markets. Amongst our focus areas will be the Regulated Short Selling and Securities Borrowing and Lending (“RSS & SBL”) which is necessary for Malaysia to achieve developed market status. On the retail front, we will be actively engaging our local retail investors through initiatives which will be announced in the fourth quarter this year.”
Daily Market Commentary (Securities)
The FBM KLCI index gained 2.88 points or 0.16% on Thursday. The Finance Index increased 0.47% to 17222.76 points, the Properties Index up 0.99% to 1413.28 points and the Plantation Index down 0.64% to 8382.89 points. The market traded within a range of 5.37 points between an intra-day high of 1792.36 and a low of 1786.99 during the session.
Actively traded stocks include CLIQ-WA, SUMATEC, SUMATEC-WA, KINSTEL, TDM, THHEAVY, MAS, LUSTER, CLIQ and TENAGA. Trading volume increased to 1751.46 mil shares worth RM2744.49 mil as compared to Wednesday’s 1593.37 mil shares worth RM2432.14 mil.
Leading Movers were HLBANK (+18 sen to RM14.44), TENAGA (+16 sen to RM9.01), MISC (+15 sen to RM5.75), PPB (+12 sen to RM14.62) and MAYBANK (+10 sen to RM10.60). Lagging Movers were HLFG (-14 sen to RM14.54), IOICORP (-14 sen to RM5.38), BAT (-14 sen to RM60.50), KLK (-12 sen to RM21.28) and PETGAS (-4 sen to RM20.90). Market breadth was positive with 547 gainers as compared to 280 losers.
Local bourse shares eked out gains in recovering trade volume, as strength in the Finance Index, led by heavyweights Hong Leong Bank, Maybank and CIMB, helped offset a 0.64% plunge in Plantation index. The FBM KLCI ended 2.88 points higher at 1,791.54 points. Trading volume was seen bouncing back up by 10% against this yesterday’s trade. We opine this as a positive indication that the local bourse is still fundamentally supported by strong companies’ earnings in the face of the external hurdles.
Asian stocks ex-Japan continued its second day of decline as Hang Seng Index swung between gains and losses after developers nose dived as rising China home prices raised concerns for more property curbs hence this might led to a slowdown in the world second largest economy. This was further pressed on by the uncertainty of the US tapering stimulus after U.S. Chairman S. Bernanke said that the stimulus is not a “preset” course.
As of 18 Jul 2013 Unit: M.Baht
Type Buy Sell Net
Institution 6,357.21 5,008.17 1,349.03
Proprietary 8,655.51 7,512.35 1,143.15
Foreign 12,865.82 12,281.08 584.75
Individual 29,286.95 32,363.89 -3,076.93
Total Trading Value 57,165.49 M.Baht
Date As of: 18 July 2013
Description Volume Value Frequency
Total 4,231,673,417 6,397,940,933,760 168,115
ETF 30,000 25,900,000 12
Stock 4,182,334,036 6,395,695,145,160 167,101
Right 71,131 79,789,600 14
Warrant 49,238,250 2,140,099,000 988
Vietnam's benchmark VN index closed down 0.1 percent, ending a five-day revival as investors took profits from earlier gains in big cap firms, traders said.
Banks and property firms led the fall on the Ho Chi Minh bourse, with Vietinbank down 1.5 percent, Military bank falling 0.8 percent and Vietcombank
Real estate firm Hoang Anh Gia Lai lost 1.35 percent, followed by Vingroup
Liquidity hit a three-week high on Thursday, giving signs of a more active market in the days and weeks ahead, trader said.
Here is a snapshot of the VN Index at the close (0716 GMT).
VN Index 496.84
PREV. CLOSE 497.5
% CHANGE -0.13%
SE Asia Stocks-Mostly firmer; Thailand, Philippines hit near 6-wk highs
Most Southeast Asian stock markets ended firmer on Wednesday with Thailand and the Philippines rising to near six-week highs after U.S. Federal Reserve Chairman Ben Bernanke pledged to keep monetary policy easy for the foreseeable future.
Bernanke on Wednesday said the timeline for winding down the U.S. central bank's stimulus programme was not set in stone.
Thailand's main index ended up 2 percent and the Philippine main index closed higher 1.1 percent, marking their highest close in nearly six weeks. Singapore's Straits Times Index finished 0.3 percent firmer.
Jakarta's Composite Index rose 0.9 percent and closed at a two-week high, led by a 3 percent gain in consumer-related stock Unilever Indonesia Tbk .
Malaysia's main index edged up 0.2 percent to its record high close with a net foreign inflow of $14.42 million.
Vietnam's VN index closed 0.1 percent weaker.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 435.22 431.61 +0.85
Singapore 3218.20 3208.33 +0.31
Kuala Lumpur 1791.54 1788.66 +0.16
Bangkok 1487.19 1458.08 +2.00
Jakarta 4720.44 4679.00 +0.89
Manila 6648.35 6574.72 +1.12
Ho Chi Minh 496.84 497.50 -0.13
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