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ASEAN Markets to Advance Today

Shayne Heffernan

ASEAN markets did well after a good days trading in the USA and better data, however last night that changed direction and the USA market weakened. This will be felt in ASEAN today and markets are expected to trade lower.

Moderate bargain hunting ended the Philippine market's four-day carnage today.

The benchmark Philippine Stock Exchange index rose by 0.38 percent or 13.02 points to 3,418.71, while the broader all-share index gained 0.47 percent or 10.37 points to 2,178.74.

Trading volume reached 1.82 billion shares worth P3.86 billion ($83.20 million). Foreign investors continued to be net buyers with P46.43 million ($1 million).

Advancers led decliners 61 to 38 while 69 stocks did not move. Of the six counters, only the financial and the service sector bucked the composite index's rally.

Based on technicals, the Philippine market's immediate support is seen to be at 3,375 to 3,390, while investors are looking at an immediate resistance of 3,435 to 3,450.

Stocks in the 30-company index finished mixed. Heavyweight Philippine Long Distance Telephone Co. was the most actively traded issue which finished 0.2 percent lower.

Stock price of Philippines' biggest property developers Ayala Land, Inc. and Megaworld Corp. meanwhile closed higher.

The JKSE index rose 0.47 percent or 14.174 points to 3,010.861 points and the LQ-45 index climbed 0.43 percent or 2,451 points to 583.227 points.

The JKSE index rise to above 3,000 points was actually unexpected considering current uncertainties in global economic growth, according to Alfiansyah, a stock market analyst of PT Sinarmas Securities.

Among top gainers at the Indonesian bourse in the morning opening session, were Indo Tambang Mega shares that went up Rp 400 to Rp 38, 200, automotive industry Astra International shares that rose Rp 350 to Rp 50,150, Auto shares that advanced Rp 300 to Rp 15,700, state owned bank BRI shares that surged to Rp 9,900 and BTPN shares that added Rp 150 to Rp 8,750.

Foreign investors were net buyers of THB296 million ($ 9.17 million) worth of Thai stocks Wednesday out of a total of THB31.92 billion traded, the Stock Exchange of Thailand said. The Stock Exchange of Thailand (SET) composite index on Wednesday gained 6.52 points or 0.79 per cent to close at 830.93 points. The market value was 31.91 billion baht, with 7.58 billion shares traded.

Transaction by Investor Group in The Stock Exchange of Thailand (SET)

Daily as of 21 Jul 2010
Unit: M.Baht

Investor Type Buy Sell Net
Value % Value % Value %
Local Institutions 1,650.48 5.17 2,624.91 8.22 -974.43 -
Proprietary Trading 3,134.72 9.82 2,708.52 8.49 426.20 -
Foreign Investors 5,495.94 17.22 5,199.71 16.29 296.23 -
Local Individuals 21,637.95 67.79 21,385.95 67.00 252.00 -

Monthly Cumulative between 1 - 21 Jul 2010
Unit: M.Baht

Investor Type Buy Sell Net
Value % Value % Value %
Local Institutions 28,103.80 7.18 30,497.60 7.79 -2,393.80 -
Proprietary Trading 37,911.25 9.69 38,857.15 9.93 -945.90 -
Foreign Investors 56,870.84 14.54 57,413.64 14.67 -542.80 -
Local Individuals 268,381.70 68.59 264,499.19 67.60 3,882.51 -

Yearly Cumulative since 1 Jan 2010 - 21 Jul 2010
Unit: M.Baht

Investor Type Buy Sell Net
Value % Value % Value %
Local Institutions 216,174.08 7.49 219,200.33 7.60 -3,026.25 -
Proprietary Trading 383,154.39 13.28 383,456.25 13.29 -301.86 -
Foreign Investors 601,909.80 20.86 619,779.98 21.48  -17,870.18 -
Local Individuals 1,683,807.09 58.36 1,662,608.79 57.63 21,198.29 -

Vietnam's stock market index, VN-Index, closed at 505. 4 points on Wednesday, down 1.16 points or 0.23 percent, against the previous trading day.

HNX-Index, the index of Vietnam's Hanoi Stock Exchange, went down 1.18 points, or 0.74 percent, to 158.97 points.

The Malaysia stock market ended higher on Wednesday.

The Kuala Lumpur Composite Index (KLCI) closed at 1,341.02 up 3. 35 points or 0.25 percent, and the Emas was 9,095.91 up 25.32 points or 0.28 percent.

The share prices in Singapore fell 22.52 points or 0.76 percent on Wednesday with the benchmark Straits Times Index ( STI) closing at 2,926.09 points.

Keppel Land announced 20.3% growth 2Q10 net profit to S$70 million.

Midas clinched two contracts worth RMB130mn to supply aluminium alloy extrusion profiles for a total of 480 train cars.

DBS has set up a wholly foreign-owned entity, DBS Investment & Financial Advisory Co., Ltd. The entity will provide corporate finance advisory services to enable DBS Bank to build onshore financial advisory origination and execution capabilities in China.

Yanlord set up a new subsidiary in Nanjing China, Nanjing Yanlord Garden Co., Ltd


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