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ASEAN STOCK WATCH Asean Affairs   27  July  2011

Asean Stock Watch- July 27



The Dow Jones Industrial Average closed down 91.50 points, or 0.73 percent at 12,501.30 amid thin trade; declining for the three consecutive session. The Dow has lost more than 1.7 percent in the last three trading days, as investors remain concerned over the ongoing debt talks in Washington.

The S&P 500 dropped 5.49 points, or 0.41 percent, to close at 1,331.94.

The Nasdaq composite fell 2.84 points, or 0.10 percent, to finish at 2,839.96.

Crude oil at USD99.18 a barrel, while gold was at USD1,622.50 an ounce.


The benchmark index climbed to a record high on Tuesday with a raft of positive first-half earnings results spurring gains.

The Jakarta Composite Index rose 45.68 points, or 1.1 percent, to close at 4,132.78, erasing Monday’s 0.5 percent decline. More than 9.17 billion shares valued at Rp 6.28 trillion ($740 million) changed hands. Gainers beat decliners 151 to 79. Foreign investors bought Rp 81 billion more in shares than they sold.

“The market was driven by the positive sentiment from the posted financial statements, especially in the banking sector,” said Deni Hamzah, a market analyst with Corfina Capital.

Financial stocks as a group gained 1.4 percent on the Indonesia Stock Exchange (IDX), among the biggest gainers by sector.

Deni said banks had been turning in healthy first-half financial statements to the central bank since last week. He said investors were betting that lenders such as Bank Negara Indonesia and Bank Tabungan Negara would report strong results as consumers and companies borrowed more because of steady interest rates.

Bank Negara Indonesia continued its climb for a second day, gaining 3.7 percent to Rp 4,175. The country’s fourth-largest lender by assets rose 1.3 percent on Monday after saying first-half net income surged 41 percent from a year earlier. Kim Eng Securities, in a note to investors on Tuesday, said it expected “stronger” profit in the second half because of higher lending.

Bank Mandiri, the country’s largest bank, gained 2 percent to close at Rp 7,850, while Bank Central Asia, the largest capitalized lender, rose 1.8 percent to Rp 8,300. Both will report later this week, and their results are expected to be similar to BNI’s.

Astra Agro Lestari, the largest listed plantation company, gained 0.4 percent to Rp 23,500, after its first-half profit almost doubled to Rp 1.32 trillion. BW Plantation rose 2.5 percent to Rp 1,230 after its profit was reported to have surged 99 percent to Rp 171 billion.

Tambang Batubara Bukit Asam, a coal miner, added 7 percent to Rp 21,050. Its first-half profit jumped 79 percent to Rp 1.61 trillion.

United Tractors, the nation’s largest heavy equipment distributor, rose 2 percent to Rp 25,750 after it posted a 59 percent increase in sales of heavy equipment to 4,333 units for the first half.

The rupiah traded 0.3 percent stronger at 8,500 against the dollar. “The rupiah is still being watched by Bank Indonesia,” Deni said. “They wouldn’t want the exchange rate to rise too strongly, and I doubt they would let it trade at the 8,400 level.”


The FBM KLCI opened marginally lower in Wednesday's early trade, slipping 0.78 points or 0.05% to 1,560.99 a 9.40am as investors remained cautious, in light of the fact that a deal to avoid an impending US default had yet to be reached.

Among the losers on the local bourse was Press Metal Bhd which slipped 6 sen to RM2.18 and Tasek Corp Bhd which shed 8 sen to RM7.80.


At the Philippine Stock Exchange, the composite index lost 14.63 points, or 0.33 percent to 4,465.87, while the broader all-shares index added 5.67 points, or 0.18 percent to 3,098.55.

Decliners beat advancers, 79 to 49, while 53 stocks were unchanged. A total of 4.70 billion stocks worth P4.31 billion changed hands.

“As the world awaits the unfolding of the debt situation of the US, the local stock market was flat for another day,” said Prince Anthony Yeung of AB Capital Securities Inc.

After falling by as much as 145 points, the Dow Jones Industrial Average trimmed its losses to close at 12,592.80, down 88.36 points, or 0.7 percent.

The impasse over raising the US debt limit continued to rattle Wall Street after Republicans and Democrats offered conflicting proposals to prevent a default on the US government’s debt.


Singapore shares opened lower on Wednesday, with the benchmark Straits Times Index at 3,173.17 in early trade, down 0.42 percent, or 13.40 points.

Around 154 million shares exchanged hands.


Thai stocks opened up 4.20 points at the start of trade Wednesday morning.

The Stock Exchange of Thailand main index opened at 1,125.83 points, up 0.37 percent from Tuesday’s close. The trade value was 1.45 billion baht, with 407.15 million shares traded. The SET50 index opened at 789.63 points, up 3.44 points or 0.44 percent, with a total trade value of 790.12 million baht.

The SET100 index rose 7.23 points, or 0.42 percent, to 1,720.12 points, with a total turnover of 1.07 billion baht.

The SETHD index went up 4.18 points, or 0.39 percent, to 1,075.82 points, with a total turnover value of 227.49 million baht.

The MAI index opened up 0.52 points, or 0.16 percent, to stand at 318.59 points, with total transaction value of 195.88 million baht.

Top five most active values were as follows;

SCB stood at 125.00 baht, up 1.50 baht (1.21 percent)

NEP stood at 0.97 baht, up 0.06 baht (6.59 percent)

PTL stood at 23.80 baht, up 0.50 baht (2.15 percent)

KBANK stood at 140.50 baht, up 1.00 baht (0.72 percent)

ESSO stood at 11.90 baht, unchanged


The VN-Index continued to tread water yesterday, ending the session largely unchanged from Monday at 409.39 points. However, almost half of all codes on the HCM City Stock Exchange lost value.

The value of trades increased 21 percent to VND306.6 billion (US$14.9 million), on a volume of over 19.6 million shares.

Despite the general downwtrend on the market, some large caps that posted high earnings in the first half managed gains, propping up the Index.

For instance, software producer FPT, which reported a pre-tax profit of VND1.2 trillion ($58.3 million) in the first six months of the year – a year-on-year increase of 11 percent – saw its shares rise 1.9 percent yesterday.

Vietinbank (CTG) earned a pre-tax profit of over VND3.6 trillion ($175.7 million) in the first half, and CTG shares rose by 0.4 percent. Shares of steelmaker Hoa Phat Group (HPG) increased by 0.3 percent on the announcement of a first-half net profit of VND982 billion ($47.7 million) – a year-on-year increase of 68 percent.

Without yet reporting business results, shares of real estate developer Vincom (VIC) posted even more impressive gains yesterday, closing up 3.4 percent.

Real estate services provider Hoang Quan Corp (HQC) surprised the market to become the most heavily-traded stock with over 1.2 million shares changing hands. However it ended the session down 3.4 percent.

Money flows into the market remained weak, but several bank shares were still attractive to investors, analysts of PetroVietnam Securities Inc wrote in a note.

It would be hard to say when the prolonged downtrend would end, particularly in the context of profuse negative information on the market, they said, predicting that the market would continue to decline without supporting news.

Shares continued their downward spiral on the Ha Noi Stock Exchange, with the HNX-Index sliding another 0.5 percent to close at 69.91 points. Only 76 out of 387 shares advanced.

Market value continued to decline to just around VND166.8 billion ($8 million) as just 15.7 million shares changed hands. Kim Long Securities Co (KLS) again claimed the position as the most-active share on a volume of nearly 1.8 million shares, closing unchanged at VND10,500.

Foreign investors were net sellers in HCM City yesterday, unloading just over VND3.3 billion ($160,200) worth of shares, but they were net buyers in Hanoi, responsible for a net buy of VND921 million ($44,700) worth of shares.


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