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ASEAN STOCK WATCH 15 June 2010

Thailand Leads ASEAN Markets Higher

Shayne Heffernan
www.livetradingnews.com

As we expected ASEAN Markets have been performing well with Thailand leading the way. Today will offer a good buying opportunity as a weaker Wall St exchange will lower values around ASEAN for the day.

Thailand Stock Exchange rose 1.5 percent on Monday as higher consumer confidence improved the market for companies reliant on the domestic economy, while energy shares in the region got a lift from a strong oil market.

Thailand Stock Exchange is by far the best buy in Asia as stocks are trading at a 12-month forward price to earnings ratio of 10.4, the lowest valuation in the region and a great bargain for investors.

Top five most active values were as follows;

CPF closed at 18.90 baht, up 1.00 baht (5.59%)
PTTCH closed at 104.50 baht, up 7.50 baht (7.73%)
IVL closed at 20.80 baht, up 1.20 baht (6.12%)
PTT closed at 246.00 baht, up 2.00 baht (0.82%)
SCB closed at 82.75 baht, up 0.25 baht (0.30%)

Lending by commercial banks is expected to grow by six to eight per cent this year, Prasarn Trairatvorakul, chairman of the Thai Banks Association, said on Monday afternoon. Mr Prasarn, the president of Kasikornbank Plc, predicted the Thai economy would expand by 4 to 5 per cent in 2010, even if the country were affected by the financial crisis in Europe. He said exports would continue to expand and it would be a key sector in boosting the Thai economy.

In singapore shares closed higher on Monday, with the benchmark Straits Times Index at 2,805.94, up 0.78 per cent, or 21.78 points.

About 727.9 million shares exchanged hands.

Gainers beat losers 317 to 107.

Overseas investors bought $79 million more of Indonesian shares than they sold last week, taking their net purchases this year to $488 million.

Bank Indonesia does not plan to introduce capital controls and may issue a regulation that will “reduce the pace” of such flows, Senior Deputy Governor Darmin Nasution said on June 11. He said the regulation on capital flows may be issued soon, but did not provide details.

Nasution’s comments are unlikely to prompt investors to unwind their holdings of Indonesian assets, Baig said, given the central bank’s assurance on capital controls.

PT Telekomunikasi Indonesia rose in Jakarta trading, providing the biggest boost to the composite index, after shareholders approved a dividend payout amounting to half of last year’s net profit.

PT Bakrie & Brothers (BNBR), the holding company for Indonesia’s Bakrie family, said on Monday it plans to spin off its infrastructure unit with assets of $3 billion, in an initial public offering by early next year.

Indonesia’s severely strained power and transport facilities are a constraint on economic growth: by ttracting more investment in this sector, the government aims to boost growth to 7 percent by 2014. Eddy Soeparno, Bakrie & Brothers’ chief financial officer, said the plan to list the PT Bakrie Indo Infrastructure unit would depend on market conditions.

“Our exit strategy will be to launch an initial public offering, because there are not a lot of integrated infrastructure companies in the country,” Soeparno said, adding”that could lure investors.” The IPO is tentatively slated for the fourth quarter of this year or first quarter of 2011, he said, and the firm has not yet mandated any banks.

“The amount of assets from projects for our infrastructureunit is relatively big, it’s $3 billion,” he said, adding these included toll roads, gas pipelines, water treatment facilities and port projects. Shares in Bakrie & Brothers were flat in a slightly firmer Jakarta index, though the stock had earlier been down 1.8 percent. The stock has lost more than a third of its value this year, underperforming the index’s gain of more than 10 percent.

After being an economic laggard among its neighbors, the Philippines is poised to overtake some Asian economies in 2011 as it registers a gross domestic product (GDP) growth of 4.9 percent based on latest forecast by Development Bank of Singapore (DBS).

DBS said in its third quarter market outlook, the country will beat Thailand in the GDP race, which is seen to grow four percent from a projected GDP of seven percent this year; Hong Kong, 4.5 percent from this year’s 5.5 percent; Taiwan, 3.8 percent from 7.5 percent in 2010; Korea to 3.9 percent from this year’s estimate of 5.4 percent.

The country will also be knocking at the GDP door of neighbors Singapore, Malaysia and Indonesia, which are expected to register GDP growths of 5 percent, 5.5 percent and 5.5 percent, respectively.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,666.92
+31.07 (0.27%)
+9.65%
Jun 14, 3:00pm
flag
Mexican Bolsa IPC Index
32,124.28
+214.06 (0.67%)
+26.49%
Jun 14, 3:00pm
flag
Brazil Bovespa Index
63,605.38
+556.38 (0.88%)
+19.53%
Jun 14, 3:00pm
flag
Argentina Merval Index
2,281.23
+19.45 (0.86%)
+38.22%
Jun 14, 3:00pm
flag
Chile IPSA Index
3,969.23
+24.90 (0.63%)
+22.22%
Jun 14, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
9,879.85
+174.60 (1.80%)
-2.53%
Jun 14, 3:00pm
flag
ASX All Ordinaries
4,516.50
+68.10 (1.53%)
+11.20%
Jun 14, 3:00pm
flag
Seoul Composite
1,675.34
+23.64 (1.43%)
+17.27%
Jun 14, 3:00pm
flag
Hong Kong Hang Seng
20,051.91
+179.53 (0.90%)
+6.15%
Jun 14, 3:00pm
flag
Shanghai
2,569.94
+0.00 (0.00%)
-6.34%
Jun 14, 3:00pm
flag
Taiwan Weighted
7,299.49
+117.72 (1.64%)
+13.20%
Jun 14, 3:00pm
flag
Singapore Straits Times
2,818.07
+21.78 (0.78%)
+18.55%
Jun 14, 3:00pm
flag
Bombay Sensex Index
17,064.95
+142.87 (0.84%)
+11.99%
Jun 14, 3:00pm
flag
Jakarta Composite
2,801.90
+31.11 (1.12%)
+34.00%
Jun 14, 3:00pm
flag
Kuala Lumpur Composite
1,297.16
+2.49 (0.19%)
+18.99%
Jun 14, 3:00pm
flag
PSE Composite
3,265.44
+0.00 (0.00%)
+25.65%
Jun 14, 3:00pm
flag
Sri Lanka All Share
4,561.33
+65.09 (1.45%)
+102.31%
Jun 14, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,202.13
+38.43 (0.74%)
+17.11%
Jun 14, 3:00pm
flag
Paris CAC 40
3,626.04
+70.52 (1.98%)
+9.02%
Jun 14, 3:00pm
flag
Frankfurt Index
6,125.00
+77.17 (1.28%)
+20.83%
Jun 14, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.00%
Jun 14, 3:00pm
flag
Belgium 20 Index
2,498.24
+34.39 (1.40%)
+20.68%
Jun 14, 3:00pm
flag
Swiss Market Index
6,472.12
+45.42 (0.71%)
+17.21%
Jun 14, 3:00pm
flag
OSE Norway All Share
417.07
+9.05 (2.22%)
+16.55%
Jun 14, 3:00pm
flag
ATX Vienna
2,405.77
+42.66 (1.81%)
+9.84%
Jun 14, 3:00pm
flag
Amsterdam Total Return General
331.45
+5.89 (1.81%)
+24.85%
Jun 14, 3:00pm
flag
Madrid General
987.57
+38.36 (4.04%)
-1.80%
Jun 14, 3:00pm
flag
Stockholm General Index
322.79
+4.74 (1.49%)
+29.73%
Jun 14, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,033.05
+9.61 (0.94%)
+26.91%
Jun 14, 10:45am
flag
TEL-TECH INDEX
274.51
+3.88 (1.43%)
+33.24%
Jun 14, 10:45am
flag
TEL-TECH-15 INDEX
237.22
+2.49 (1.06%)
+29.64%
Jun 14, 10:45am

 


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