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ASEAN STOCK WATCH Asean Affairs   3  June  2011

Asean Stock Watch- June 3



Wall Street stocks finished mixed on Thursday as investors braced for the May jobs report and digested Moody's warning on the US debt.

The Dow Jones Industrial Average fell 41.59 points (0.34 percent) to close at 12,248.55. The broader S&P 500 index slipped 1.61 points (0.12 percent) to 1,312.94, while the tech-rich Nasdaq Composite headed higher, by 4.12 points (0.15 percent) to 2,773.31.

Trade was fairly choppy after a steep sell-off Wednesday spurred by grim economic indicators on jobs and manufacturing.

“The trading has been tempered today, in the wake of yesterday's large drop and ahead of tomorrow's key employment report, which has the potential to cause a large swing in either direction,” analysts said.

The Labor Department's report of a smaller-than-expected drop in US jobless claims last week added to the anxious mood.


Shares of CIMB and the Hong Leong group were up in early Friday trade as investors continue to bet on financial stocks in the midst of merger and acquisition activities.

The local bourse's benchmark index added a quarter-percent to 1,561.94 at 9.30 a.m. while Asian markets regained ground lost in recent days.

At Bursa Malaysia, advancers outpaced decliners 138 to 86 while 169 other counters were traded unchanged. There were 72.34 million shares traded with a total turnover of RM100.18 million. CIMB gained 6 sen to RM8.38, Hong Leong Financial Group added 12 sen to RM12.18 and Hong Leong Bank was 6 sen higher at RM12.56.

Tradewinds, a counter related to media-shy billionaire Tan Sri Syed Mokhtar Albukhary, rose 30 sen to RM9.10 while Malayan Flour, which recently announced a special dividend and rights issue, gained 15 sen to RM8.

Bursa was up 15 sen to RM7.77 and Esso was 11 sen higher at RM5.21.

Spot gold lost US$1.22 to US$1,532.43 per ounce while silver was unchanged at US$36.19.

Nymex crude oil in electronic trade gained 27 cents to US$100.67 per barrel.

The ringgit was quoted at 3.015 to the US dollar and 4.366 to the euro.


Philippines share prices on Thursday overcame bearish global markets, rising for the second consecutive day as investors picked up power, telecom and mining issues.

At the Philippine Stock Exchange, the composite index rose 38.52 points, or 0.90 percent to 4,324.98, while the broader all-shares gained 23.77 points, or 0.79 percent to 3,025.26. Market breadth was negative as decliners beat advancers, 71 to 63, while 40 issues were unchanged. A total of 3.57 billion stocks worth P4.82 billion changed hands.

“Share prices tumbled in the early goings, dragged by the Dow’s biggest drop since February,” said Jun Calaycay of Accord Capital Equities Corp.

“A sharp rally by power, telco and mining shares pulled a welcome surprise, restoring the index into positive territory, defying trends across the Asia Pacific region,” Calaycay added. Only the property and services sector managed to close lower, losing 0.85 percent and 0.61 percent, respectively.

Weak jobs and manufacturing data caused a bloodbath in Wall Street with the Dow Jones Industrial Average plummeting 279.14 points, or 2.22 percent to 12,290.65.

The Philippine market is looking to book its first weekly gain after two straight weeks of marginal declines with momentum seen to carry local equities further to test resistance at the 4,350 to 4,370 range.

Support remains at 4,220.

“We have witnessed the resiliency of local equities, a proof that everything remains healthy at home. Risks are principally presented by external events, and even from this perspective, things are beginning to look up,” Calaycay said.

The peso however joined the drop in other Asian currencies on Thursday amid more signs the US economy is slowing down, coupled with political uncertainty in Japan, which sent investors to leap out of emerging market assets.

At the Philippine Dealing System, the dollar-peso pair shed 13.5 centavos to close at P43.27 against the US dollar from P43.135 the previous trading day.

The exchange rate opened at P43.20:$1 and moved to a high of P43.27 to a low of P43.16.

Total trading volume slowed to $768.85 million from Wednesday’s $995.94 million.

The currency pair is expected to trade within a range of 43.15 to 43.45 for the rest of the week. Singapore

Singapore shares opened lower on Friday, with the benchmark Straits Times Index at 3,158.44 in early trade, down 0.07 percent, or 2.16 points.

Around 63.5 million shares exchanged hands.



The Stock Exchange of Thailand main index went down 5.82 points or 0.55 percent to close at 1,059.81 points at the end of trading session on Thursday Afternoon. The trade value was 23.11 billion baht.

The SET50 index ended at 741.72 points, down 5.34 points or 0.71 percent, with a total trade value of 14.45 billion baht.

The SET100 index fell 10.70 points or 0.66 percent to stand at 1,617.10 points, with a total turnover of 17.75 billion baht.

The MAI index went up 1.32 points or 0.45 percent to close at 295.76 points, with total transaction value of 730.83 million baht.

Top five most active values were as follows;

KBANK closed at 120.00 baht, down 2.00 baht (1.64 percent)

TOP closed at 76.75 baht, down 2.50 baht (3.15 percent)

PTT closed at 347.00 baht, down 3.00 baht (0.86 percent)

KBS closed at 11.30 baht, up 0.70 baht (6.60 percent)

JAS closed at 2.90 baht, up 0.12 baht (4.32 percent)


The nation's two stock exchanges continued to surge this morning, with a large number of shares hitting their ceiling prices.

The VN-Index, the benchmark measure of the HCM City Stock Exchange, climbed 3.42 percent to close Thursday's trading at 450.59 points.

Trading value rose 17 percent over yesterday to VND681.3 billion (US$33 million), with over 34.3 million shares changing hands.

Gainers were 10 times higher than losers, with 65 per cent of them climbing the maximum daily limit of 5 per cent.

Seven of the 10 largest capitalised shares hit their ceiling prices for the second day in a row, including Bao Viet Holdings (BVH), Vietinbank (CTG), FPT Corp (FPT), Hoang Anh Gia Lai (HAG), Masan Group (MSN), PetroVietnam Finance (PVF) and Vincom Co (VIC).

The fourth largest listed bank Sacombank (STB) replaced Sai Gon Securities Inc (SSI) as the most active stock on the southern bourse today with 1.87 million shares exchanged, closing up 1.7 percent at VND12,000 ($0.58).

On the Ha Noi Stock Exchange, the HNX-Index surged another 3.23 percent to close at 74.05 points. Trading value rose just 5 percent to reach VND300.4 billion ($14.6 million) on a volume of 28 million shares.

Gainers outnumbered losers by 284-46, of which 201 shares hit their ceiling.

Securities shares posted heavy gains with most rising the maximum 5 percent, including Bao Viet Securities (BVS), Au Viet Securities (AVS), VNDirect Securities (VND), SHB Securities (SHS) and Kim Long Securities (KLS), with the latter being the most heavily traded share on the Hanoi bourse today, with more than 1.96 million shares changing hands.


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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.

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