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Asean Stock Watch- June 21

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US

The Dow Jones Industrial Average gained 76.02 points, or 0.63 percent, to close at 12,080.38. The S&P 500 rose 6.86 points, or 0.54 percent, to end at 1,278.36. The Nasdaq composite gained 13.18 points, or 0.50 per cent, to setlle at 2629.66.

The euro traded lower against the U.S. dollar, while gold gained USD 2.90 to end at USD 1,542 an ounce.

Crude oil closed at USD 93.77 a barrel.

Indonesia

Indonesia’s benchmark stock index rebounded on Monday, halting a two-day slide, on optimism that European leaders would meet to prevent a financial crisis in Greece from deepening further.

The Jakarta Composite Index gained 6.8 points, or 0.2 percent, to close at 3,729.12. About 4.1 billion shares valued at Rp 3.24 trillion ($375.8 million) changed hands. Overseas investors, though, were net sellers, having sold Rp 40 billion more in shares than they purchased.

German Chancellor Angela Merkel on Friday retreated from demands bondholders be forced to shoulder a “substantial” share of a Greek rescue, saying she’ll work with the European Central Bank to avoid disrupting markets. Still, euro-zone finance ministers who met on Sunday put off a decision on whether Greece would get the full amount promised for July and pushed the country to press ahead with budget cuts.

“From an external factor helping the stock market here, at least Germany said they were willing to help Greece,” said Mohammad Alfatih, from Samuel Sekuritas.

The consumer sector was the biggest gainer, up 1.2 percent. Gifar Indra Sakti, consumer equity analyst at Sucorinvest Centra Gani, said it advanced on a technical rebound after companies such as Gudang Garam suffered considerable losses this month. The cigarette maker rose 2.3 percent to Rp 45,300, the exchange’s third-biggest gainer.

Indofood Sukses Makmur, one of the largest listed consumer goods producers, climbed 2.9 percent to Rp 5,350.

Adaro Energy, the country’s second-largest coal producer, rose 1.1 percent to Rp 2,300. Kim Eng Securities said in its daily report that the Japan Bank for International Cooperation pledged to loan as much as $2.8 billion to a group of companies, including Adaro, for the construction of two 1,000 megawatt power plants in Central Java.

The rupiah had weakened to 8,610 against the dollar as of 4:30 p.m. on Monday.

“We can expect volatility in the market due to concerns about the debt crisis in Europe,” said Lindawati Susanto, head of treasury at Bank Resona Perdania in Jakarta. “That will affect the rupiah as well.”

Malaysia

The FBM KLCI was up 0.03 percent, or 0.5 of a point, at 1,559.69 in early trade on Tuesday, led by gains in some banking and plantation stocks.

Turnover was 265.13 million shares done valued at RM237.73 million. There were 174 gainers, 269 losers and 249 stocks unchanged.

Regional peers were largely up as well in their early trade with Shanghai SE Composite having gained 0.48 percent to 2,633.94, Kopsi increasing 0.83 percent to 2,031.15 and Singapore's STI up 0.73 percent to 3,035.74

The ringgit against the US dollar was quoted at 3.038 against yesterday's close at 3.044. Crude oil was up at US$93.45, from yesterday's close of US$93.26.

Philippines

The Philippines stock market was closed on Monday because of a special holiday honoring the 150th birthday of the country’s national hero, Dr. Jose Rizal.

Singapore

Singapore shares opened higher on Tuesday, with the benchmark Straits Times Index at 3,031.33 in early trade, up 0.58 percent, or 17.73 points.

Around 50.4 million shares exchanged hands.

Thailand

The Stock Exchange of Thailand (SET) composite index on Monday lost 5.87 points, or 0.58 percent, to close at 1,013.09 points. The market value was 17.04 billion baht, with 2.49 billion shares traded.

The SET100 index ended the session at 1,537.99 points, down 9.68 points, or 0.63 percent, with a total trade value of 13.99 billion baht.

The SET50 index fell 4.09 points, or 0.58 percent, to stay at 705.62 points, with a total transaction value of 11.21 billion baht.

The Market for Alternative Investment (mai) index went down 3.05 points, or 1.03 percent, to close at 292.35 points, with a total turnover of 512.01 million baht.

Top five most active values were as follows;

PTTCH remained at 144.50 baht.

PTT closed at 329.00 baht, down by 1.00 or 0.30 percent.

DTAC closed at 56.25 baht, down by 1.75 or 3.02 percent.

ADVANC closed at 104.00 baht, up by 3.00 or 2.97 percent.

BBL closed at 149.00 baht, down by 1.00 or 0.67 percent.

Vietnam

Inflation data depresses shares Shares yesterday continued last week's declines on both of the nation's stock exchanges, although cash flows continued stronger into the HCM City bourse.

"The greatest contributing factor to the session was information about the June inflation rate," said Dang Anh, an analyst for a Ha Noi-based securities company.

The consumer price index rose by 0.69 in HCM City in June, compared to the prior month, and 1.21 percent in Hanoi. The pace was lower than in May but remained alarmingly high.

While rising consumer prices helped drive up shares of food, beverage and household goods producers, the tourism industry, representing discretionary consumer spending, saw shares fell by an average of 4.6 per cent, Anh noted.

On the HCM City Stock Exchange yesterday, the VN-Index lost 1.6 per cent overall to close at 431.63 points. The value of trades stood at VND753.9 billion (US$35.7 million), 86.8 percent of last Friday's value on a volume of 43.8 million shares.

Decliners outnumbered advancers by three-to-one, while around 70 codes bottomed out. After a stock split, shares of technology developer SACOM (SAM) slumped by a whopping 47.6 percent, although their decline relative to the reference price prior to the issuance of additional shares was within the daily limit of 5 percent.

The 10 leading shares by capitalisation also had a poor day, with only food producer Masan Group (MSN) making gains and closing up 1.6 percent, while Sacombank (STB) closed unchanged. Meanwhile, shares of real estate developer Vincom (VIC) hit their floor price, and insurer Bao Viet Holdings (BVH) and PetroVietnam Finance (PVF) both fell by over 3 percent.

Saigon Securities Inc (SSI) was the most-active share, with nearly 3.6 million traded.

Bac Giang Mining (BGM) listed 16.8 million shares yesterday at an opening price of VND31,000 per share, but bleak trades drove BGM down to VND24,000.

On the Ha Noi Stock Exchange, the HNX-Index also dipped by 1.7 percent to 75.33 points. The value of the day's trades reached just VND417.2 billion ($20.3 million), 32.7 per cent below Friday's level, while volume also slumped by 30.5 percent to just 36.5 million shares.

Kim Long Securities Co (KLS) was the most-active share nationwide, with just over 5 million exchanged.

"There were sell-offs in speculative codes on the northern bourse such as some securities shares and PetroVietnam Construction (PVX)," said Anh. "However, demand for these shares came back at the end of the session, helping narrow the decline in the HNX-Index."

Foreign investors yesterday were buyers overall on the northern bourse of a net of VND5.6 billion ($271,800) worth of shares, while they were net sellers in HCM City of over VND26 billion ($1.27 million) in shares.