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ASEAN STOCK WATCH 23 June 2010

ASEAN Markets Growing Still

Shayne Heffernan
www.livetradingnews.com

Financial Institutions in ASEAN countries remain in good shape even with the debt turmoil in Europe, said Moody’s Investors Service.

According to the credit rating firm, banks in this part of the world are strong enough to weather any adverse effects the crisis in the West may bring.

“With the exception of Vietnam and Cambodia, our Southeast Asian banking system outlooks are stable,” said Deborah Schuler, senior vice president and regional credit officer for Asia Pacific financial institutions at Moody’s.

“The region’s banks are well positioned to cope with the Basel III capital and liquidity requirements, thanks to their strong capital levels, traditional banking franchises and customer deposit funded loan portfolios,” Schuler said.

Basel III refers to a new set of capitalization and banking standards. It calls for stricter requirements that are meant to ensure the health of an economy’s banking sector.

The International Monetary Fund (IMF) warned that the emerging economies, which have recovered faster than the advanced economies from the financial crisis, could face a new challenge from Hot, Fast Money.

“Executive Directors (in the IMF) saw the risk that fast recoveries may lead to rising capital inflows, closing output gaps, and rising inflation,” said the IMF on Monday in a paper examining the performance of 57 emerging markets during the recent global financial crisis. “Raising interest rates when policy rates in major advanced economies remain near historic lows could prompt excessive capital inflows, which could, in turn, fuel asset price bubbles,” said the IMF. “Thus monetary policy decisions may be constrained in some emerging market countries.”

MANILA — Philippine stocks finished 0.18 percent lower on Tuesday.

The benchmark Philippine Stock Exchange index was down by 6.19 points to 3,351.69. The all-share index declined by 0.20 percent or 4.22 points to 2,132.93.

The trade volume reached 2.2 billion shares worth 3.87 billion pesos (84.9 million U.S. dollars). There were 46 gainers and 68 losers while 56 stocks closed flat.

HANOI — Vietnam’s stock market index, VN-Index, closed at 512. 63 points on Tuesday, down 2.12 points, or 0.41 percent, against the previous trading day.

A total of 78.39 million shares worth 2.23 trillion Vietnamese dong (VND) (118 million U.S. dollars) changed hands at the Ho Chi Minh City Stock Exchange.

KUALA LUMPUR — The Malaysia stock market ended lower here on Tuesday.

The Kuala Lumpur Composite Index (KLCI) was at 1,323.44 down 11.85 points or 0.89 percent, and the Emas was at 8,934.73 down 72. 28 points or 0.80 percent.

There were 227 gainers, 433 losers and 255 counters traded unchanged.

Turnover decreased to 672.52 million shares valued at 1.09 billion ringgit Malaysia(341.69 million U.S. dollars), compared with 920.96 million shares valued at 1.52 billion ringgit Malaysia (476.94 million U.S. dollars) on Monday.

BANGKOK — The Stock Exchange of Thailand (SET) index on Tuesday moved down 1.94 points, or 0.24 percent to close at 804.13 points.

Some 4.08 billion shares worth 22.49 billion baht (about 695.55 million U.S. dollars) changed hands. Profit-taking pulled the market down as the SET index approached its highs for the year around 820, seen in early April, although some analysts said market remained optimistic on the benefits of a stronger yuan. “A stronger yuan makes Thailand more attractive for investment. The appreciation of the yuan, expected to be gradual, will raise production costs in China and improve the competitiveness of Thailand,” said Vikas Kawatra, head of institutional broking at top broker Kim Eng Securities. Resource shares were big gainers on Monday but slipped back on Tuesday, with Indonesia’s second-largest coal miner, Adaro Energy (ADRO.JK), 3.6 percent lower after a 4.8 percent gain the previous day amid hopes the yuan reform would push up demand for Indonesian coal. Top Thai coal miner Banpu BANP.BK fell 1.6 percent.

profit-taking pulled the market down as the SET index approached its highs for the year around 820, seen in early April, although some analysts said market remained optimistic on the benefits of a stronger yuan.

SINGAPORE -- The shares prices in Singapore fell 13.34 points or 0.46 percent on Tuesday with the benchmark Straits Times Index (STI) closing at 2,872.3 points.

Singapore , Southeast Asia’s biggest bourse by market value, ended down 0.5 percent — turning round from a 1.8 percent rise the day before that took it to its highest in almost six weeks — as the euphoria over China’s currency policy faded.

The overall volume stood at 1.14 billion shares worth 1.14 billion Singapore dollars (about 0.83 billion U.S. dollars).

MUMBAI — The Indian stock benchmark Sensex shrank 126.86 points or 0.71 percent Tuesday.

The index experienced weak momentum throughout the session and concluded at 17,749.69 points with daily low of 17,725.63 points.

The turnover with Sensex slid to 155.8 million U.S. dollars Tuesday from 237 million U.S. dollars of the previous session.

Sensex is the common name for the Bombay Stock Exchange Sensitive Index. It consists of the 30 largest and most actively traded stocks, representative of various sectors, on the Bombay Stock Exchange.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,936.08
+8.49 (0.07%)
+17.13%
Jun 22, 3:00pm
flag
Mexican Bolsa IPC Index
32,882.00
+67.38 (0.21%)
+34.61%
Jun 22, 3:00pm
flag
Brazil Bovespa Index
64,829.03
+391.03 (0.61%)
+26.18%
Jun 22, 3:00pm
flag
Argentina Merval Index
2,320.36
+5.82 (0.25%)
+49.45%
Jun 22, 3:00pm
flag
Chile IPSA Index
4,117.00
-6.47 (-0.16%)
+30.93%
Jun 22, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,112.89
-125.12 (-1.22%)
+3.34%
Jun 22, 3:00pm
flag
ASX All Ordinaries
4,581.30
-51.40 (-1.11%)
+17.64%
Jun 22, 3:00pm
flag
Seoul Composite
1,739.68
+27.73 (1.62%)
+25.76%
Jun 22, 3:00pm
flag
Hong Kong Hang Seng
20,819.08
-93.10 (-0.45%)
+16.17%
Jun 22, 3:00pm
flag
Shanghai
2,588.70
+2.49 (0.10%)
-10.13%
Jun 22, 3:00pm
flag
Taiwan Weighted
7,635.56
+142.45 (1.90%)
+22.54%
Jun 22, 3:00pm
flag
Singapore Straits Times
2,872.30
-13.34 (-0.46%)
+26.36%
Jun 22, 3:00pm
flag
Bombay Sensex Index
17,876.55
+305.73 (1.74%)
+23.10%
Jun 22, 3:00pm
flag
Jakarta Composite
2,941.90
+12.31 (0.42%)
+47.80%
Jun 22, 3:00pm
flag
Kuala Lumpur Composite
1,323.44
-11.85 (-0.89%)
+25.51%
Jun 22, 3:00pm
flag
PSE Composite
3,351.69
-6.19 (-0.18%)
+39.75%
Jun 22, 3:00pm
flag
Sri Lanka All Share
4,658.68
+0.00 (0.00%)
+89.62%
Jun 22, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,246.98
-52.12 (-0.98%)
+20.73%
Jun 22, 3:00pm
flag
Paris CAC 40
3,705.32
-30.83 (-0.83%)
+15.03%
Jun 22, 3:00pm
flag
Frankfurt Index
6,269.04
-23.93 (-0.38%)
+29.54%
Jun 22, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.00%
Jun 22, 3:00pm
flag
Belgium 20 Index
2,536.22
-13.62 (-0.53%)
+26.96%
Jun 22, 3:00pm
flag
Swiss Market Index
6,463.46
-56.14 (-0.86%)
+19.22%
Jun 22, 3:00pm
flag
OSE Norway All Share
415.86
-5.94 (-1.41%)
+21.70%
Jun 22, 3:00pm
flag
ATX Vienna
2,447.94
-0.24 (-0.01%)
+18.45%
Jun 22, 3:00pm
flag
Amsterdam Total Return General
339.80
-1.24 (-0.36%)
+32.14%
Jun 22, 3:00pm
flag
Madrid General
1,041.64
+8.95 (0.87%)
+4.68%
Jun 22, 3:00pm
flag
Stockholm General Index
329.81
-0.27 (-0.08%)
+36.56%
Jun 22, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,050.22
-8.02 (-0.76%)
+32.64%
Jun 22, 10:45am
flag
TEL-TECH INDEX
277.06
-6.10 (-2.15%)
+33.21%
Jun 22, 10:45am
flag
TEL-TECH-15 INDEX
238.54
-5.06 (-2.08%)
+27.36%
Jun 22, 10:45am

 


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