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ASEAN STOCK WATCH 5 June 2010

ASEAN is a Strong Buy Monday

Shayne Heffernan
www.livetradingnews.com

ASEAN Markets will fair poorly this monday as foriegn investors will eit markets based on a failure of the US economy to add more jobs. This represents a key buying opportunity in ASEAN.

ASEAN is growing now both externally and internally, so the falls expected monday will give long term investors a discounted entry in to some of the world’s most exciting companies.

The US Labor Department said today that payrolls increased by 431,000 in May, trailing the median economist forecast of 536,000. Goldman Sachs Group Inc. raised its prediction to 600,000 yesterday. Private employers added 41,000 positions, 139,000 less than estimated.

U.S. and European stocks and commodities slid, while Treasuries rallied, as lower-than- estimated American job growth and a worsening government debt crisis fueled concern the global economic recovery will slow. Hungary’s currency, equities and bonds plummeted.

Dow 9,931.22 -324.06 (-3.16%)
S&P 500 1,064.88 -37.95 (-3.44%)
Nasdaq 2,219.17 -83.86 (-3.64%)

The Standard & Poor’s 500 Index dived 3.44 percent in New York and the Dow Jones Industrial Average fell below 10,000. The Stoxx Europe 600 Index lost 1.8 percent. Oil fell 3.5 percent to near $72 a barrel, while tin sank 9.5 percent. Ten-year Treasury yields decreased 16 basis points to 3.20 percent. The euro slid below $1.20 for the first time since March 2006 and the yen strengthened against 16 major counterparts. The forint tumbled to a 15-month low against the dollar on concern Hungary may default.

Profits for companies in the S&P 500 are forecast to rise 17 percent to a combined $81.34 a share in 2010, according to estimates from more than 2,000 analysts. That implies a price-earnings ratio of about 13.2, compared with an average multiple of 20.4 over the previous two decades.

Profits for companies in the S&P 500 are forecast to rise 17 percent to a combined $81.34 a share in 2010, according to estimates from more than 2,000 analysts. That implies a price-earnings ratio of 13.4, compared with the average multiple using reported results of 20.8 since April 1991.

The MSCI World Index of stocks in 24 developed nations fell 2.9 percent, the most in two weeks. Most shares in Asia fell before the U.S. jobs data, sending the MSCI Asia Pacific Index down 0.2 percent. Mining companies declined in Asia after the world’s two largest copper producers, Codelco and Freeport- McMoRan Copper & Gold Inc., said China’s plans to curb growth will lower demand for the metal. Baoshan Iron & Steel Co. fell 1.1 percent after Shanghai Securities News said the company will cut prices. Hynix Semiconductor Inc. rallied 6 percent in Seoul on a credit-rating upgrade and higher memory-chip prices.

Copper fell for a fifth day in New York, heading for the longest slump since December. The metal slid 4.9 percent to $2.8035 a pound. The Reuters/Jefferies CRB Index of commodities tumbled 2.3 percent.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,811.87
+31.20 (0.26%)
+11.39%
Jun 04, 4:00pm
flag
Mexican Bolsa IPC Index
31,331.86
-80.05 (-0.25%)
+24.80%
Jun 04, 4:00pm
flag
Brazil Bovespa Index
61,508.79
-1434.12 (-2.28%)
+12.89%
Jun 04, 4:00pm
flag
Argentina Merval Index
2,239.09
+26.70 (1.21%)
+35.20%
Jun 04, 4:00pm
flag
Chile IPSA Index
3,890.62
+6.89 (0.18%)
+21.92%
Jun 04, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
9,901.19
-13.00 (-0.13%)
+2.31%
Jun 04, 4:00pm
flag
ASX All Ordinaries
4,472.40
-33.90 (-0.75%)
+15.03%
Jun 04, 4:00pm
flag
Seoul Composite
1,661.84
+0.00 (0.00%)
+17.44%
Jun 04, 4:00pm
flag
Hong Kong Hang Seng
19,780.07
-6.64 (-0.03%)
+4.72%
Jun 04, 4:00pm
flag
Shanghai
2,553.59
+0.93 (0.04%)
-6.16%
Jun 04, 4:00pm
flag
Taiwan Weighted
7,360.28
+164.57 (2.29%)
+5.84%
Jun 04, 4:00pm
flag
Singapore Straits Times
2,806.51
+13.04 (0.47%)
+17.92%
Jun 04, 4:00pm
flag
Bombay Sensex Index
17,022.33
+280.49 (1.68%)
+14.70%
Jun 04, 4:00pm
flag
Jakarta Composite
2,810.98
+77.30 (2.83%)
+40.65%
Jun 04, 4:00pm
flag
Kuala Lumpur Composite
1,294.39
-0.05 (-0.00%)
+21.91%
Jun 04, 4:00pm
flag
PSE Composite
3,357.05
+1.82 (0.05%)
+36.54%
Jun 04, 4:00pm
flag
Sri Lanka All Share
4,332.29
+31.90 (0.74%)
+96.07%
Jun 04, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,126.00
-85.20 (-1.63%)
+13.75%
Jun 04, 4:00pm
flag
Paris CAC 40
3,455.61
-101.73 (-2.86%)
+2.25%
Jun 04, 4:00pm
flag
Frankfurt Index
5,938.88
-115.75 (-1.91%)
+15.48%
Jun 04, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.00%
Jun 04, 4:00pm
flag
Belgium 20 Index
2,429.67
-54.60 (-2.20%)
+16.16%
Jun 04, 4:00pm
flag
Swiss Market Index
6,298.97
-119.83 (-1.87%)
+17.74%
Jun 04, 4:00pm
flag
OSE Norway All Share
401.37
-6.02 (-1.48%)
+16.98%
Jun 04, 4:00pm
flag
ATX Vienna
2,267.36
-97.44 (-4.12%)
+7.69%
Jun 04, 4:00pm
flag
Amsterdam Total Return General
321.22
-5.81 (-1.78%)
+19.67%
Jun 04, 4:00pm
flag
Madrid General
958.25
+1.50 (0.16%)
-3.84%
Jun 04, 4:00pm
flag
Stockholm General Index
310.43
-5.40 (-1.71%)
+24.15%
Jun 04, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,025.80
+0.00 (0.00%)
+24.73%
Jun 04, 3:13am
flag
TEL-TECH INDEX
272.05
+0.00 (0.00%)
+35.14%
Jun 04, 2:15am
flag
TEL-TECH-15 INDEX
237.44
+0.00 (0.00%)
+31.49%
Jun 04, 2:15am

 


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