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ASEAN STOCK WATCH Asean Affairs   16  June  2011

Asean Stock Watch- June 16



The Dow Jones Industrial Average closed down 178.84 points, or 1.48 percent, to close at 11,897.27 on Wednesday.

The S&P 500 dropped 22.45 points, or 1.74 percent, to end at 1,265.42, while the Nasdaq fell 47.26 points, or 1.76 percent, to finish at 2,631.46.

The euro slipped nearly 2 percent against the US dollar, its worst daily drop since August 2010, as currency traders switched to the USD as a safe haven.

Crude oil prices fell following government report of lower crude oil inventories fell. U.S. light, sweet crude dropped USD 4.56, or 4.59 percent, to settle at USD 94.81 a barrel, while London Brent crude fell UD 3.06, or 2.55 percent to settle at USD 117.10 a barrel.


Indonesian stocks advanced for a second day on Wednesday following positive sentiment from the US market.

The Jakarta Composite Index added 20.98 points or 0.6 percent, to close at 3,794.25. More than 4.21 billion shares worth Rp 3.64 trillion ($426 million) were traded. Gainers beat decliners by 121 to 98. Foreign net buying was Rp 472 billion.

“Especially in the morning session, the index was affected by advancing US markets,” said Deni Hamzah, an analyst.

The Dow Jones industrial average gained 1 percent on Tuesday on a technical rebound after slipping for two days.

The Standard & Poor’s 500 index gained on Tuesday by 1.26 percent and Nasdaq by 1.48 percent following better-than-expected US data on retail sales.

In Jakarta, the miscellaneous industry led the rally, climbing 2.3 percent, while the manufacturing sector gained 1.1 percent.

Astra International, the country’s largest auto retailer, gained 2.9 percent to Rp 59,000. The stock was the most traded of the day, with Rp 366 billion changing hands, or about 10 percent of total volume, Indonesia Stock Exchange (IDX) data showed.

Medco Energi Internasional, the nation’s largest listed oil company, rose 2.1 percent to Rp 2,450. Bloomberg reported crude oil futures for July delivery gained the most in almost four weeks in New York on Tuesday, rising 2.1 percent to $99.37 a barrel.

Construction company Adhi Karya gained 1.3 percent to Rp 770. Reports said the firm would pay shareholders a final dividend of Rp 32.35 per share, or 30 percent of 2010 net income.

Meanwhile, the rupiah lost 0.12 percent against the US dollar, sitting at Rp 8,545 per dollar as of the market’s close.


Share prices opened slightly lower on Bursa Malaysia, after a slight rebound yesterday, on mild profit taking activities, dealers said.

After 36 minutes of trading, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 2.92 points to 1,553.27 after opening 3.08 points lower at 1,553.11.

The Finance Index dropped 10.659 points to 14,566.86, the Plantation Index declined 20.53 points to 7,857.18 and the Industrial Index edged down 2.86 points to 2,780.77.

The FBM Emas Index decreased 25.101 points to 10,696.77, the FBM Ace was 23.82 points lower at 4,226.23 and the FBMT100 slipped 23.341 points to 10,452.85.

HwangDBS Vickers Research Sdn Bhd, in its research note, said external headwinds would likely blow away investors' sentiment across the region today following the overnight slump on Wall Street.

"Technically, the benchmark FBM KLCI is expected to come under pressure today, possibly testing the immediate support level of 1,550," it said.

The market breadth was flat with losers leading gainers 211 to 70 while 153 counters were unchanged, 1,033 untraded and 21 others were suspended.

Trading volume stood at 97.569 million shares worth RM92.289 million.

Actives, SAAG Consolidated and Malton-loan rights perked half-a-sen each to 7.5 sen and 15 sen, respectively while Compugates Holdings was unchanged at 6.5 sen.

Among heavyweights, Maybank and Sime Darby were both flat at RM8.75 and RM9.18, respectively, while CIMB eased two sen to RM8.41.

Petronas Chemicals shed three sen to RM7.15 while Axiata added two sen to RM4.95.


Philippine share prices snapped a four-session losing streak as investors cheered an upgrade of the country’s sovereign rating.

At the Philippine Stock Exchange, the composite index rose 61.11 points, or 1.48 percent to 4,201.38, marking its return above the 4,200 level. The broader all-shares index added 22.34 points, or 0.76 percent to 2,948.35.

Advancers beat decliners, 83 to 37, while 38 stocks were unchanged. A total of 2.83 billion stocks worth P4.12 billion changed hands.

“A late session report of a rating upgrade from Moody’s Investors’ Service sustained optimism through the close,” said Jun Calaycay of Accord Capital Equities Corp.

Moody’s raised the Philippines’ foreign and local currency long-term bond ratings by a notch to Ba2 from Ba3 on the back of the country’s improved fiscal position and sustained macroeconomic stability.

While the ratings upgrade is a major catalyst that the market desperately needs, it may have come at the wrong time, according to analysts.

“We continue to be at the mercy of developments abroad. The debt crisis in Europe and the slowing Chinese and US economies have created a lot of pessimism on investments,” said AB Capital Securities Inc.

Traders also welcomed the latest jobless data for April that saw the country’s unemployment rate slow down to 7.2 percent from last year’s 8 percent.

The main index sustained gains recorded earlier in the day, buoyed by the better than expected retail sales in the US.

The local market may ride on today’s strong closing performance and follow through in Thursday’s trading session, which will likely be influenced by the Monetary Board meeting.

The breach of the 4,200 line will be tested with initial support restored at the 4,170-line, Calaycay said.

The peso and other Asian currencies retreated Wednesday as concern over Greek’s debt problem outweighed Manila’s credit rating upgrade.

At the Philippine Dealing System, the local unit shed 6 centavos to close at 43.42 to the dollar on Wednesday from 43.36 the previous trading day.

The dollar-peso pair opened at 43.35 and moved to a high of 43.42 and a low of 43.33.

Total trading volume eased to $848.82 million from $1.137 billion the previous trading day.

Traders expect the local unit to trade within a range of 43 to 43.60 in the last two days of the trading week.


Singapore shares opened lower on Thursday, with the benchmark Straits Times Index at 3,035.09 in early trade, down 0.65 percent, or 19.73 points.

Around 66 million shares exchanged hands.

Losers beat gainers 126 to 22.


The Stock Exchange of Thailand main index went down 4.61 points or 0.45 percent to close at 1,030.31 points at the end of trading session on Wednesday afternoon. The trade value was 25.08 billion baht.

The SET50 index ended at 719.44 points, down 4.68 points or 0.65 percent, with a total trade value of 14.83 billion baht.

The SET100 index fell 8.12 points or 0.52 percent to stand at 1,568.05 points, with a total turnover of 18.86 billion baht.

The MAI index went up 1.87 points or 0.63 percent to close at 297.25 points, with total transaction value of 1.33 billion baht.

Top five most active values were as follows;

BBL closed at 151.00 baht, down 3.000 baht (1.95 percent)

RAIMON closed at 1.31 baht, up 0.08 baht (6.50 percent)

KBANK closed at 115.00 baht, up 1.00 baht (0.88 percent)

CPF closed at 29.75 baht, up 0.50 baht (1.71 percent)

JAS closed at 2.96 baht, up 0.02 baht (0.68 percent)


Active profit-taking this morning continued to depress shares on both stock exchanges, with the two benchmark indices losing value.

On the HCM City Stock Exchange, the VN-Index closed down to 441.45 points, posting a tiny loss of 0.02 percent. Both trading volume and value decreased by around 19 percent from yesterday to 49.9 million shares worth nearly VND859.9 billion (US$41.7 million).

Losers outnumbered gainers by five-to-one. About 55 percent of losers dropped to their floor prices, many of which had earlier hit their 5 percent ceiling for several successive sessions, including a number of shares under the PetroVietnam umbrella.

Large caps helped cushion the fall, with insurer Bao Viet Holdings (BVH) rising 4.3 per cent; food producer Masan Group (MSN) gaining 2.6 percent; and real estate developer Vincom (VIC) hitting its ceiling for the third successive session.

Saigon Securities Inc (SSI) continued to be the most actively traded, with 4 million shares changing hands, but it closed down 5 per cent at VND19,000 ($0.92).

On the Hanoi Stock Exchange, the HNX-Index lost another 2.23 percent to close at 77.74 points. Trading value and volume halved from yesterday to 47.8 million shares worth VND584.8 billion ($28.4 million).

Decliners largely outnumbered advancers by 270-44.

Kim Long Securities (KLS) was still the most heavily-traded stock nationwide, with 7 million shares exchanged, however, it to fell to its floor price, closing at 11,400 ($0.55).


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