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ASEAN STOCK WATCH 22 June 2010

AFTA and Yuan will lift ASEAN Markets

Shayne Heffernan
www.livetradingnews.com

The ongiong economic integration within ASEAN, combined with the region’s developing partnerships, is expected to lead the region on the sustained economic recovery and growth in 2010, according to a report released Monday by the Malaysia government.

The establishment of ASEAN Free Trade Area as well as the implementation of ASEAN Trade in Goods Agreement and other free trade agreements will also boost intra-ASEAN trade and investment flows, Malaysian International Trade and Industry (MITI) said.

Although faced with the global financial crisis in 2008 and 2009, MITI said that ASEAN had remained steadfast in its commitment to achieve the vision of an ASEAN Economic Community by 2015.

ASEAN equities surged on Monday after China said it would relax constraints on the yuan, in a surprise move analysts view as an attempt to defuse tension before a crucial G20 summit this weekend.

The move will give all ASEAN economies new and improved export markets and further expand the already growing export market to China.

Stock markets in ASEAN closed higher on Monday after China moved to allow the yuan more flexibility, which boosted confidence in global markets, pushing up shares in coal miners and commodity-related sectors.

Indonesia had additional support after Moody’s Investors Service raised the country’s rating outlook, extended its gains into a seventh session, pushing its increase so far this year to 16.08 percent, Asia’s second best performing exchange.

ASEAN saw positive inflows on Monday, continuing from last week, with foreigners buying shares in ndonesia and the Philippines worth a net $47 million and $6.6 million respectively.

Investors expected the rally to continue, as rising purchasing power for Chinese consumers in tandem with the stronger yuan should boost exports to Asia’s biggest economy.

Coal miner Adaro Energy (ADRO.JK) gained 4.8 percent and fellow coal miner Tambang Batubara Bukit Asam (PTBA.JK) rose 2.7 percent on expectations the yuan reform would benefit Indonesian coal and support coal prices.

PT Eatertainment International (SMMT.JK), which surged 23.4 percent after Reuters reported on Sunday that majority shareholder Rajawali Group planned a backdoor listing for $1 billion in plantation assets through the firm.

Optimism about the outlook for coal prices also boosted coal miners in Thailand, with leader Banpu (BANP.BK) and smaller rival Lanna Resources LANN.BK each climbing over 2 percent. Thai energy firm PTT (PTT.BK) gained 2 percent as crude prices rose CLc1, while Singapore palm plantation firm Wilmar International (WLIL.SI) gained 3.3 percent and Malaysia’s IOI Corp (IOIB.KL) rose 2.8 percent amid strength in commodities.

SET index closed at 806.07, up 14.22 or 1.80% in trade worth 29.91 billion baht on Monday.

Stocks with most active value were as follows:

PTT increased to 257.00 baht, up 5.00 baht.

SCB increased to 85.25 baht, up 2.25 baht.

BBL increased to 126.50 baht, up 6.00 baht.

TCAP increased to 28.00 baht, up 2.00 baht.

KBANK increased to 95.25 baht, up 2.25 baht.

The Singapore dollar gained about 1 per cent to trade at $1.374 against the United States dollar. Asia’s top performers included the South Korean won, Malaysian ringgit and Australian dollar. v Still, China’s pledge to allow greater flexibility in the yuan will not have an impact on Singapore’s exchange rate regime, the Monetary Authority of Singapore (MAS) said in a statement on Monday.

Foreign critics, notably the US, have long argued that the value of the yuan has been held down by Beijing in order to boost China’s export competitiveness.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,927.59
-18.38 (-0.15%)
+17.05%
Jun 21, 3:00pm
flag
Mexican Bolsa IPC Index
32,814.62
+39.28 (0.12%)
+34.34%
Jun 21, 3:00pm
flag
Brazil Bovespa Index
64,943.41
+505.41 (0.78%)
+26.40%
Jun 21, 3:00pm
flag
Argentina Merval Index
2,320.36
+5.82 (0.25%)
+49.45%
Jun 21, 3:00pm
flag
Chile IPSA Index
4,123.47
+40.17 (0.98%)
+31.13%
Jun 21, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,238.01
+242.99 (2.43%)
+4.62%
Jun 21, 3:00pm
flag
ASX All Ordinaries
4,632.70
+58.60 (1.28%)
+18.96%
Jun 21, 3:00pm
flag
Seoul Composite
1,711.95
+4.03 (0.24%)
+23.75%
Jun 21, 3:00pm
flag
Hong Kong Hang Seng
20,912.18
+625.47 (3.08%)
+16.69%
Jun 21, 3:00pm
flag
Shanghai
2,586.21
+72.99 (2.90%)
-10.22%
Jun 21, 3:00pm
flag
Taiwan Weighted
7,493.11
-22.67 (-0.30%)
+20.25%
Jun 21, 3:00pm
flag
Singapore Straits Times
2,885.64
+52.24 (1.84%)
+26.94%
Jun 21, 3:00pm
flag
Bombay Sensex Index
17,570.82
-45.87 (-0.26%)
+21.00%
Jun 21, 3:00pm
flag
Jakarta Composite
2,929.59
+38.49 (1.33%)
+47.18%
Jun 21, 3:00pm
flag
Kuala Lumpur Composite
1,335.29
+17.60 (1.34%)
+26.64%
Jun 21, 3:00pm
flag
PSE Composite
3,335.48
+21.96 (0.66%)
+39.08%
Jun 21, 3:00pm
flag
Sri Lanka All Share
4,658.68
+0.00 (0.00%)
+89.62%
Jun 21, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,299.11
+48.31 (0.92%)
+21.93%
Jun 21, 3:00pm
flag
Paris CAC 40
3,736.15
+48.94 (1.33%)
+15.98%
Jun 21, 3:00pm
flag
Frankfurt Index
6,292.97
+75.99 (1.22%)
+30.03%
Jun 21, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.00%
Jun 21, 3:00pm
flag
Belgium 20 Index
2,549.84
+20.91 (0.83%)
+27.64%
Jun 21, 3:00pm
flag
Swiss Market Index
6,519.57
72.47 (1.12%)
+20.25%
Jun 21, 3:00pm
flag
OSE Norway All Share
421.80
+7.16 (1.73%)
+23.44%
Jun 21, 3:00pm
flag
ATX Vienna
2,448.18
+20.12 (0.83%)
+18.47%
Jun 21, 3:00pm
flag
Amsterdam Total Return General
341.04
+4.98 (1.48%)
+32.62%
Jun 21, 3:00pm
flag
Madrid General
1,032.69
+23.58 (2.34%)
+3.78%
Jun 21, 3:00pm
flag
Stockholm General Index
330.08
+2.02 (0.62%)
+36.67%
Jun 21, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
ast Updated
flag
Israel TA 100 Index
1,058.24
+9.32 (0.89%)
+33.65%
Jun 21, 10:45am
flag
TEL-TECH INDEX
283.16
+3.97 (1.42%)
+36.14%
Jun 21, 10:45am
flag
TEL-TECH-15 INDEX
243.60
+4.31 (1.80%)
+30.06%
Jun 21, 10:45am

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,927.59
-18.38 (-0.15%)
+17.05%
Jun 21, 3:00pm
flag
Mexican Bolsa IPC Index
32,814.62
+39.28 (0.12%)
+34.34%
Jun 21, 3:00pm
flag
Brazil Bovespa Index
64,943.41
+505.41 (0.78%)
+26.40%
Jun 21, 3:00pm
flag
Argentina Merval Index
2,320.36
+5.82 (0.25%)
+49.45%
Jun 21, 3:00pm
flag
Chile IPSA Index
4,123.47
+40.17 (0.98%)
+31.13%
Jun 21, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,238.01
+242.99 (2.43%)
+4.62%
Jun 21, 3:00pm
flag
ASX All Ordinaries
4,632.70
+58.60 (1.28%)
+18.96%
Jun 21, 3:00pm
flag
Seoul Composite
1,711.95
+4.03 (0.24%)
+23.75%
Jun 21, 3:00pm
flag
Hong Kong Hang Seng
20,912.18
+625.47 (3.08%)
+16.69%
Jun 21, 3:00pm
flag
Shanghai
2,586.21
+72.99 (2.90%)
-10.22%
Jun 21, 3:00pm
flag
Taiwan Weighted
7,493.11
-22.67 (-0.30%)
+20.25%
Jun 21, 3:00pm
flag
Singapore Straits Times
2,885.64
+52.24 (1.84%)
+26.94%
Jun 21, 3:00pm
flag
Bombay Sensex Index
17,570.82
-45.87 (-0.26%)
+21.00%
Jun 21, 3:00pm
flag
Jakarta Composite
2,929.59
+38.49 (1.33%)
+47.18%
Jun 21, 3:00pm
flag
Kuala Lumpur Composite
1,335.29
+17.60 (1.34%)
+26.64%
Jun 21, 3:00pm
flag
PSE Composite
3,335.48
+21.96 (0.66%)
+39.08%
Jun 21, 3:00pm
flag
Sri Lanka All Share
4,658.68
+0.00 (0.00%)
+89.62%
Jun 21, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,299.11
+48.31 (0.92%)
+21.93%
Jun 21, 3:00pm
flag
Paris CAC 40
3,736.15
+48.94 (1.33%)
+15.98%
Jun 21, 3:00pm
flag
Frankfurt Index
6,292.97
+75.99 (1.22%)
+30.03%
Jun 21, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.00%
Jun 21, 3:00pm
flag
Belgium 20 Index
2,549.84
+20.91 (0.83%)
+27.64%
Jun 21, 3:00pm
flag
Swiss Market Index
6,519.57
+72.47 (1.12%)
+20.25%
Jun 21, 3:00pm
flag
OSE Norway All Share
421.80
+7.16 (1.73%)
+23.44%
Jun 21, 3:00pm
flag
ATX Vienna
2,448.18
+20.12 (0.83%)
+18.47%
Jun 21, 3:00pm
flag
Amsterdam Total Return General
341.04
+4.98 (1.48%)
+32.62%
Jun 21, 3:00pm
flag
Madrid General
1,032.69
+23.58 (2.34%)
+3.78%
Jun 21, 3:00pm
flag
Stockholm General Index
330.08
+2.02 (0.62%)
+36.67%
un 21, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,058.24
+9.32 (0.89%)
+33.65%
Jun 21, 10:45am
flag
TEL-TECH INDEX
283.16
+3.97 (1.42%)
+36.14%
Jun 21, 10:45am
flag
TEL-TECH-15 INDEX
243.60
+4.31 (1.80%)
+30.06%
Jun 21, 10:45am

 


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