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ASEAN STOCK WATCH 11 March 2010

Shayne Heffernan
www.livetradingnews.com

No direction over night in the USA and having been flat for a few days we will probably drift lower, Thailand was surprisingly bouyant today as investors snapped up bargains on the eve of the political protests.

The SET index closed yesterday at 720.84, up 2.07, in thin trade worth 12.8 billion baht. For the year to date, the index has fallen by 2.15%. Market capitalisation of the SET rose by 4.2% over the month to 5.803 trillion baht, while market capitalisation for the Market for Alternative Investment rose by 0.3% to 38.414 billion.

Singapore shares ended higher on Wednesday, with the benchmark Straits Times Index at 2,862.29, up 0.80 per cent, or 22.75 points. About 1.7 billion shares exchanged hands.

Kuala Lumpur  rallied 0.78 percent to the highest since March 2008, led by plantation firms.

Jakarta, Philippines maintained highs and Veit Nam slipped slightly.

Overseas Last Night

Dow 10,567.33 +2.95 (0.03%)
S&P 500 1,145.61 +5.17 (0.45%)
Nasdaq 2,358.95 +18.27 (0.78%)

US stocks continued modest gains on Wednesday, a stronger rally was tempered by the US government's report of a drop in company inventories during January.

The Commerce Department said wholesale inventories fell 0.2 per cent in January after falling one per cent in December.But company sales rose 1.3 per cent, their 10th straight gain. A pickup in sales would prompt businesses to restock inventories.

With little economic data released since last week's better-than-expected jobs report, investors haven't been making big moves.

But readings on weekly jobless claims, retail sales and consumer sentiment will be released in the coming days and may give investors a better sense of where the economy stands.

With almost 90 minutes of Wednesday trade remaining, the Dow Jones industrial average was up 18.82 points, or 0.18 per cent, at 10,583.20 points.

The broader Standard & Poor's 500 index was up 6.62 points, or 0.58 per cent, at 1147.06 points.

The Nasdaq composite index was up 18.51 points, or 0.79 per cent, at 2359.19.

Europe's leading stock markets nudged higher on Wednesday in cautious trading, as market players digested the latest batch of company results and awaited key US economic data later this week.

The FTSE 100 index rose 38.27 points, or 0.68 per cent, to 5640.57 points.

The German DAX 30 ended up 50.83 points, or 0.86 per cent, at 5936.72 points.

In France, the CAC 40 index gained 33.54 points, or 0.86 per cent, to close at 3943.55 points.

Commodities
World oil prices rose on Wednesday after news that US fuel stockpiles slumped last week, indicating strengthening demand in the world's top energy consumer.

The market was also supported by news of soaring Chinese exports and after the Organisation of Petroleum Exporting Countries lifted its forecast for world oil demand growth.

New York's main contract, light sweet crude for April delivery, rose 60 US cents to settle at $US82.09, according to preliminary settlement figures on the New York Mercantile Exchange.

The contract touched an intraday high of $US83.03, after figures showed crude inventories grew last week by 1.4 million barrels to 343 million barrels, well below the market expectations of a 2.1 million barrel increase.

But prices retreated after market participants regarded the move higher as overdone.

Meanwhile, OPEC said world oil demand should grow by 900,000 barrels per day this year, an upward revision from last month's forecast.

OPEC said its forecast depended on a sustained global economic rebound, particularly in the US.

China, the second biggest oil consumer, said on Wednesday that its exports soared for the third straight month in February and at their fastest pace in three years.

In London, Brent crude was 3 US cents lower at $US79.88 on the ICE futures exchange.

Gold for April delivery fell $US14.20 to settle at $US1108.10 an ounce.

Silver for May delivery fell 32 US cents to settle at $US17.018 an ounce.

Copper for May delivery fell 4.35 US cents to settle at $US3.368 per pound.

Global Market Indexes

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11947.81
+29.10 (0.24%)
+57.89%
Mar 10, 4:00pm
flag
Mexican Bolsa IPC Index
32514.64
+0.47 (0.00%)
+91.66%
Mar 10, 4:00pm
flag
Brazil Bovespa Index
69800.84
+224.46 (0.32%)
+89.98%
Mar 10, 4:00pm
flag
Argentina Merval Index
2332.22
+13.08 (0.56%)
+144.82%
Mar 10, 4:00pm
flag
Chile IPSA Index
3813.98
+21.63 (0.57%)
+60.76%
Mar 10, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10563.92
+0.00 (0.00%)
+49.08%
Mar 10, 4:00pm
flag
ASX All Ordinaries
4829.80
+0.00 (0.00%)
+54.72%
Mar 10, 4:00pm
flag
Seoul Composite
1662.24
+0.00 (0.00%)
+55.10%
Mar 10, 4:00pm
flag
Hong Kong Hang Seng
21208.29
+0.74 (0.00%)
+86.95%
Mar 10, 4:00pm
flag
Shanghai
3048.93
-20.21 (-0.66%)
+43.90%
Mar 10, 4:00pm
flag
Taiwan Weighted
7779.08
+0.00 (0.00%)
+68.08%
Mar 10, 4:00pm
flag
Singapore Straits Times
2862.29
+22.75 (0.80%)
+96.46%
Mar 10, 4:00pm
flag
Bombay Sensex Index
17098.33
+0.00 (0.00%)
+109.53%
Mar 10, 4:00pm
flag
Jakarta Composite
2670.22
+0.00 (0.00%)
+107.53%
Mar 10, 4:00pm
flag
Kuala Lumpur Composite
1328.22
+10.28 (0.78%)
+54.76%
Mar 10, 4:00pm
flag
PSE Composite
3119.63
+12.28 (0.40%)
+65.01%
Mar 10, 4:00pm
flag
Sri Lanka All Share
3801.22
-7.79 (-0.20%)
+133.10%
Mar 10, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5640.57
+38.27 (0.68%)
+59.23%
Mar 10, 4:00pm
flag
Paris CAC 40
3943.55
+33.54 (0.86%)
+56.53%
Mar 10, 4:00pm
flag
Frankfurt Index
5936.72
+50.83 (0.86%)
+60.80%
Mar 10, 4:00pm
flag
Milan BCI General
15743.00
+0.00 (0.00%)
+49.31%
Mar 09, 5:30pm
flag
Belgium 20 Index
2634.16
+27.85 (1.07%)
+69.61%
Mar 10, 4:00pm
flag
Swiss Market Index
6873.59
+5.27 (0.08%)
+59.57%
Mar 10, 4:00pm
flag
OSE Norway All Share
420.65
+5.43 (1.31%)
+68.59%
Mar 10, 4:00pm
flag
ATX Vienna
2517.37
+31.13 (1.25%)
+78.29%
Mar 10, 4:00pm
flag
Amsterdam Total Return General
340.97
+1.88 (0.55%)
+71.13%
Mar 10, 4:00pm
flag
Madrid General
1153.43
+12.43 (1.09%)
+61.01%
Mar 10, 4:00pm
flag
Stockholm General Index
319.39
+3.50 (1.11%)
+69.77%
Mar 10, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1143.48
+11.16 (0.99%)
+98.63%
Mar 10, 10:45am
flag
TEL-TECH INDEX
322.96
+5.18 (1.63%)
+111.21%
Mar 10, 10:45am
flag
TEL-TECH-15 INDEX
278.23
+4.38 (1.60%)
+98.17%
Mar 10, 10:45am

 

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