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ASEAN STOCK WATCH 16 June 2010

ASEAN Markets to Boom

Shayne Heffernan
www.livetradingnews.com

ASEAN Markets will see a strong rally today after a turn in Wall St sentiment, additional good news in the region has also raised long term expectations of ASEANS Stock Exchanges.

ASEAN Nations prepare for the establishment of an economic community by 2015, member-countries of the Association of Southeast Asian Nations (Asean) are planning to enter into an East Asia Free Trade Area (Eafta) to engage regional giants such as Japan, South Korea and China.

This will see an explosion in ASEAN business and stock markets. As Ebeling Heffernan has been saying for some time, everyone should be gaining some ASEAN exposure.

S. Pushpanathan, deputy secretary-general for the planned Asean Economic Community, said integrating the regional bloc into the regional and global economy continues to be a top priority.

“Besides the effective implementation of the intra-Asean free trade-agreement and FTAs with dialogue partners such as China, Japan, Korea, and recently Australia and New Zealand, Asean should also engage bigger trading blocs.

“And as mandated by the Asean leaders, member states are currently looking into the recommendations for an Eafta and Comprehensive Economic Partnership in East Asia,” said Pashpanathan in a statement during the trade ministers’ meeting of Asean and Asia-Pacific Economic Confederation (Apec) member-countries recently in Jakarta.

He said both regional blocs share similar goals while priorities are being pursued differently. “The Asean regional economic integration should go beyond trade liberalization and facilitation, structural reforms, connectivity, food and energy security but also into pressing issues facing the member countries such as disaster management and counterterrorism cooperation.”

Pushpanathan said the realization of the Asean economic community by 2015 “will be a big boost” to the Apec Bogor Goals that seek to liberalize trade and investments by 2020.

Asean groups the Philippines, Indonesia, Thailand, Vietnam, Laos, Cambodia, Singapore, Brunei, Burma/Myanmar and Malaysia. Apec groups 21 developed and developing economies around the Pacific Rim.

The Stock Exchange of Thailand (SET) has selected eligible securities as the constituents of the SET50 and SET100 indices for H2/2010 (July 1- December 31,2010). The review was based on trading data of eligible securities during June 1, 2009 to May 31, 2010, SET Group Head, Markets Division, Ms. Kesara Manchusree said.Their inclusion should see increased demand for the securities and each is worth buying.

There are five additions in the SET50: Bangkok Life Assurance PCL (BLA), Home Product Center PCL (HMPRO), Indorama Ventures PCL (IVL), Tisco Financial Group PCL (TISCO), TPI Polene PCL (TPIPL).

There are also 9 additions in the SET100: Bangkok Life Assurance PCL (BLA), Central plaza hotel PCL (CENTEL), GFPT PCL (GFPT), Kang yong electric (KYE), Samart Telcoms PCL (SAMTEL), Somboon Advance Technology PCL (SAT), Sri trang agro-industry PCL (STA), Tipco asphalt PCL (TASCO), Vanachai group PCL (VNG)

The SET50 Index is calculated from the top 50 eligible securities and the SET100 from the top 100,with 5 securities in the replacement lists of each index. For details on the selection criteria and method of Index calculation, please go to www.set.or.th/set50

In Bangkok, profit-taking erased gains in banks, with Bangkok Bank BBL.BK, the biggest, and number four Kasikorn KBAN.BK both falling more than 1 percent. The Thai market continued to be supported by local buying,as political tension eased after the end last month of protests in the capital, cushioning further foreign selling on Monday and last week.

In Manila, port operator International Container Terminal Services Inc (ICT.PS) jumped 5.5 percent and Manila Water (MWC.PS), the utility arm of conglomerate Ayala Corp (AC.PS), gained 3.3 percent.

Bucking the trend, Vietnam's index .VNI inched down 0.06 percent, ending a five-day rise.

Indonesia's main share index, Asia's second best performing market this year, ended the day up 0.12 percent, fter rising earlier to its highest level since May 17. The market attracted net foreign buying of $58 million over the past two sessions, adding to the $309 million net foreign inflows in the past three weeks.

Among outperformers in Jakarta, Astra International (ASII), the country's biggest automotive distributor and the largest listed firm by market value, rose for a third session, adding 3.95 percent. Bank Mandiri (BMRI.JK), the biggest lender, rose 1.8 percent to 5,550 rupiah after broker Nomura upgraded its rating on the bank to 'buy', with target price of 6,800 rupiah.

In Singapore, the index ended just flat, with commodity firm Noble Group (NOBG.SI) up 2.2 percent and telecom firm Singapore Telecom (STEL.SI) down 0.33 percent.

Hotel operator Overseas Union Enterprise (OVES.SI) fell 22 percent after a key shareholder at the company plans to raise up to $300 million by selling shares, convertible bonds.

In Kuala Lumpur, gaming firm Genting (GENT.KL) rose 1.6 percent and Genting Malaysia (GENM.KL) was up 0.36 percent.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,667.34
+0.42 (0.00%)
+12.42%
Jun 15, 4:00pm
flag
Mexican Bolsa IPC Index
32,238.41
+114.13 (0.36%)
+29.35%
Jun 15, 4:00pm
flag
Brazil Bovespa Index
64,516.60
+983.60 (1.55%)
+24.75%
Jun 15, 4:00pm
flag
Argentina Merval Index
2,282.51
+1.28 (0.06%)
+37.95%
Jun 15, 4:00pm
flag
Chile IPSA Index
3,986.27
+17.04 (0.43%)
+24.55%
Jun 15, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
9,887.89
+8.04 (0.08%)
-1.51%
Jun 15, 4:00pm
flag
ASX All Ordinaries
4,517.60
+0.00 (0.00%)
+12.09%
Jun 15, 4:00pm
flag
Seoul Composite
1,690.60
+15.26 (0.91%)
+19.70%
Jun 15, 4:00pm
flag
Hong Kong Hang Seng
20,062.15
+10.24 (0.05%)
+8.45%
Jun 15, 4:00pm
flag
Shanghai
2,569.94
+0.00 (0.00%)
-7.87%
Jun 15, 4:00pm
flag
Taiwan Weighted
7,387.40
+87.91 (1.20%)
+18.66%
Jun 15, 4:00pm
flag
Singapore Straits Times
2,818.21
+0.14 (0.00%)
+21.65%
Jun 15, 4:00pm
flag
Bombay Sensex Index
17,338.17
+273.22 (1.60%)
+16.56%
Jun 15, 4:00pm
flag
Jakarta Composite
2,826.84
+24.94 (0.89%)
+36.57%
Jun 15, 4:00pm
flag
Kuala Lumpur Composite
1,298.37
+1.21 (0.09%)
+18.99%
Jun 15, 4:00pm
flag
PSE Composite
3,282.42
+0.00 (0.00%)
+25.63%
Jun 15, 4:00pm
flag
Sri Lanka All Share
4,612.76
+51.43 (1.13%)
+101.77%
Jun 15, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,217.82
+15.72 (0.30%)
+20.62%
Jun 15, 4:00pm
flag
Paris CAC 40
3,661.51
+35.47 (0.98%)
+13.73%
Jun 15, 4:00pm
flag
Frankfurt Index
6,175.05
+50.05 (0.82%)
+26.28%
Jun 15, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.00%
Jun 15, 4:00pm
flag
Belgium 20 Index
2,509.31
+11.07 (0.44%)
+24.90%
Jun 15, 4:00pm
flag
Swiss Market Index
6,484.73
+12.63 (0.20%)
+20.08%
Jun 15, 4:00pm
flag
OSE Norway All Share
418.17
+1.10 (0.26%)
+20.49%
Jun 15, 4:00pm
flag
ATX Vienna
2,427.70
+21.93 (0.91%)
+14.15%
Jun 15, 4:00pm
flag
Amsterdam Total Return General
333.82
+2.37 (0.72%)
+29.26%
Jun 15, 4:00pm
flag
Madrid General
990.20
+2.63 (0.27%)
+0.42%
Jun 15, 4:00pm
flag
Stockholm General Index
325.98
+3.19 (0.99%)
+33.41%
Jun 15, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,032.06
-0.99 (-0.10%)
+26.79%
Jun 15, 10:45am
flag
TEL-TECH INDEX
272.98
-1.53 (-0.56%)
+32.50%
Jun 15, 10:45am
flag
TEL-TECH-15 INDEX
235.29
-1.93 (-0.81%)
+28.58%
Jun 15, 10:45am

 


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