ASEAN KEY DESTINATIONS
ASEAN Markets Bounce Back
ASEAN markets posted another strong day Wednesday, Malaysia and Thailand gained as investors bought airlines and sectors seen as beneficiaries of China’s more flexible yuan policy although overall optimism over the yuan faded.
Ebeling Heffernan say markets in the region remain a strong buy in terms of value, especially Thailand which trades at a 12-month forward price to earnings of 10.9 times, against 12.9 times of Singapore and Malaysia.
Sales of new U.S. single-family homes dropped 32.7 percent to a seasonally adjusted annual rate of 300,000 units, the lowest level since record keeping started in 1963. This pushed commodity prices lower and increased investor aversion to risk in general. This will have a negative impact on ASEAN markets today and it could be a good opportunity to buy.
Other ASEAN bourses, including Singapore and Indonesia, regained most of their early losses, while investors awaited a rate decision by the U.S. Federal Reserve.
The Stock Exchange of Thailand (SET) composite index went up 2.39 points or 0.30% to close at 806.52 points at the end of trading session on Wednesday afternoon. The trade value was 23.35 billion baht.
Top five most active values were as follows;
CPF closed at 20.10 baht, up 0.30 baht (1.52%)
TTA closed at 24.10 baht, up 0.50 baht (2.12%)
STA closed at 85.00 baht, up 6.00 baht (7.59%)
PTT closed at 254.00 baht, down 1.00 baht (0.39%)
SCB closed at 84.00 baht, down 0.50 baht (0.59%)
Indonesian shares closed lower by 9.79 points, or 0. 33 percent, to a level of 2,924 points on Wednesday.
Some 93,350 transactions were booked on Wednesday at a volume of 5.2 billion copies of share worth 3 trillion rupiah (about 330 million U.S. dollars).
Losers led gainers 101 to 89 with 83 remained stagnant.
The Malaysia stock market ended higher on Wednesday.
The Kuala Lumpur Composite Index (KLCI) was at 1,329.70, up 6. 26 points or 0.47 percent, and the Emas was at 8,981.54 up 46.81 points or 0.52 percent.
There were 360 gainers, 275 losers and 271 counters traded unchanged.
Turnover increased to 684.90 million shares valued at 1.12 billion ringgit (346.32 million U.S. dollars), compared with 672. 52 million shares valued at 1.09 billion ringgit (341.69 million U. S. dollars) on Tuesday.
The gradual yuan appreciation is seen as generally positive for Southeast Asian firms, including Singapore developers that have projects and investment in China as well as Malaysia’s airline AirAsia as purchasing power for imported cost of operations improves.
China’s benchmark Shanghai Composite Index on the Shanghai Stock Exchange closed at 2,569.87 points Wednesday, down 18.83 points, or 0.73 percent from the previous close.
A Share Index: 2,693.78 points, down 20.07 points, or 0.74 percent;
B Share Index: 226.46 points, up 3.78 points, or 1.7 percent;
Total Turnover: 61.89 billion yuan (9.09 billion U.S. dollars).
—- SHENZHEN — The Shenzhen Component Index on the Shenzhen Stock Exchange closed at 10,256.27 points Wednesday, down 89.28 points, or 0.86 percent, from the previous close.
A Share Index: 11,056.61 points, down 96.25 points, or 0.86 percent;
B Share Index: 4,204.14 points, up 23.48 points, or 0.56 percent;
Total Turnover: 62.82 billion yuan (9.22 billion U.S. dollars).
MUMBAI — The Indian stock benchmark Sensex recorded slight increase of 6.25 points or 0.04 percent Wednesday on weak performance of peer bourse around the world.
The index narrowed looses in the second half of session and concluded at 17,755.94 points with daily low of 17,629.19 points.
Realty, health care, technological and consumer durables gained 1.43 percent, 1.42 percent, 0.84 percent and 0.76 percent, respectively.
Automaker Maruti Suzuki, consumer goods producer Hindustan Unilever (NYSE:UL) , housing developer DLF and software outsourcing giant Infosys picked up 2.78 percent, 1.66 percent, 1.35 percent and 1.1 percent.
Capital goods and metal sectors dropped 1.38 percent and 0.34 percent respectively.
The turnover with Sensex totaled 178.7 million U.S. dollars on Wednesday, roughly same from that of the previous session.
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