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ASEAN STOCK WATCH 12 March 2010

Shayne Heffernan
www.livetradingnews.com

Most Asian Exchanges will post losses today after another sideways night in the USA. Many exchanges across Asia started to drift yesterday afternoon and today that direction will continue. Bangkok rallied in defiance of the political protests.

In Hong Kong, the Hang Seng Index ended in positive territory with a marginal gain of 19.91 points, or 0.09%, at 21,228, as investors preferred to lock in gains amid concern that mainland China might further tighten monetary policy measures to cool off the growing economy after inflation surged up more than expected in February. Lack of economic data and cues about global economy called for caution among traders as index ended with marginal gains.

The Indian market ended modestly higher on Thursday, helped by late buying following a gain in the U.S index futures. IT stocks outperformed on improving business outlook. After trading in a lackluster manner for most of the day, the 30-share Sensex dramatically gained over 100 points in late trading before paring some gains and finishing at 17,168, up 70 points or 0.41%, while the 50-share Nifty ended up 17 points or 0.34% at 5,133.

Among the other major markets, Taiwan's Weighted Index ended in negative territory with a loss of 29.42 points, or 0.38%, at 7,750. However, Singapore's Strait Times added 11.62 points, or 0.41% to close at 2,874, China's Shanghai Composite Index edged up 2.36 points, or 0.08%, to close at 3,051, and Indonesia's Jakarta Composite Index advanced 6.30 points , or 0.24%, to close at 2,676.

The Indian market ended modestly higher on Thursday, helped by late buying following a gain in the U.S index futures.

IT stocks outperformed on improving business outlook. After trading in a lackluster manner for most of the day, the 30-share Sensex dramatically gained over 100 points in late trading before paring some gains and finishing at 17,168, up 70 points or 0.41%, while the 50-share Nifty ended up 17 points or 0.34% at 5,133.

Among the other major markets, Taiwan's Weighted Index ended in negative territory with a loss of 29.42 points, or 0.38%, at 7,750.

However, Singapore's Strait Times added 11.62 points, or 0.41% to close at 2,874, China's Shanghai Composite Index edged up 2.36 points, or 0.08%, to close at 3,051, and Indonesia's Jakarta Composite Index advanced 6.30 points , or 0.24%, to close at 2,676.

An index of US industrial shares was down 0.4 per cent.

Technology shares see-sawed after five straight winning sessions, with Oracle Corp up nearly 1 per cent to $US25.06. Financial companies bailed out by the government also added to recent gains. Citigroup Inc rose 2.5 per cent at $US4.06.

"You started off this morning with some hesitation and (concern about) China overheating. But it's being counterweighted by feelings the financial sector here is healing," said Jim Awad, managing director at Zephyr Management in New York.

The Dow Jones industrial average was down 3.02 points, or 0.03 per cent, at 10,564.31. The Standard & Poor's 500 Index fell 1.27 points, or 0.11 per cent, at 1144.34. The Nasdaq Composite Index dipped 0.59 points, or 0.03 per cent, at 2358.36.

Stocks barely reacted after data showed initial jobless claims dropped by 6000 to 462,000 in the latest week. Economists pegged the number at 460,000.

The US trade deficit narrowed unexpectedly as oil imports fell to their lowest since February 1999.

Among the top drags on the Dow was manufacturer 3M, down 1 percent at $80.72.

On Nasdaq, shares of Hologic Inc jumped 6.1 per cent to $US18.61 and hit an 18-month high after talk that Philips Electronics NV may want to buy the medical diagnostics company, traders in London and New York said. A Philips spokesman in Amsterdam declined to comment.

In other corporate news, BP Plc agreed to buy Brazilian, Azeri and Gulf of Mexico fields from Devon Energy Corp for $US7 billion. Devon shares rose 1.3 per cent to $US72.60.

Global Market Indexes

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11962.37
+1.31 (0.01%)
+58.09%
Mar 11, 3:00pm
flag
Mexican Bolsa IPC Index
32441.66
-64.10 (-0.20%)
+91.23%
Mar 11, 3:00pm
flag
Brazil Bovespa Index
69699.54
-279.74 (-0.40%)
+89.71%
Mar 11, 3:00pm
flag
Argentina Merval Index
2331.59
-0.63 (-0.03%)
+144.75%
Mar 11, 3:00pm
flag
Chile IPSA Index
3814.90
+0.92 (0.02%)
+60.80%
Mar 11, 3:00pm
Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10664.95
+101.03 (0.96%)
+50.51%
Mar 11, 3:00pm
flag
ASX All Ordinaries
4825.50
+0.00 (0.00%)
+54.58%
Mar 11, 3:00pm
flag
Seoul Composite
1656.62
-5.62 (-0.34%)
+54.57%
Mar 11, 3:00pm
flag
Hong Kong Hang Seng
21228.20
+19.91 (0.09%)
+87.12%
Mar 11, 3:00pm
flag
Shanghai
3051.28
+2.36 (0.08%)
+44.01%
Mar 11, 3:00pm
flag
Taiwan Weighted
7749.66
-29.42 (-0.38%)
+67.44%
Mar 11, 3:00pm
flag
Singapore Straits Times
2873.91
+11.62 (0.41%)
+97.26%
Mar 11, 3:00pm
flag
Bombay Sensex Index
17167.96
+69.63 (0.41%)
+110.38%
Mar 11, 3:00pm
flag
Jakarta Composite
2676.52
+0.00 (0.00%)
+108.02%
Mar 11, 3:00pm
flag
Kuala Lumpur Composite
1321.43
-6.79 (-0.51%)
+53.97%
Mar 11, 3:00pm
flag
PSE Composite
3125.56
+5.93 (0.19%)
+65.32%
Mar 11, 3:00pm
flag
Sri Lanka All Share
3832.30
+31.08 (0.82%)
+135.01%
Mar 11, 3:00pm
Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5617.26
-23.31 (-0.41%)
+58.57%
Mar 11, 3:00pm
flag
Paris CAC 40
3928.95
-14.60 (-0.37%)
+55.95%
Mar 11, 3:00pm
flag
Frankfurt Index
5928.63
-8.09 (-0.14%)
+60.58%
Mar 11, 3:00pm
flag
Milan BCI General
15743.00
+0.00 (0.00%)
+49.31%
Mar 10, 5:30pm
flag
Belgium 20 Index
2613.52
-20.64 (-0.78%)
+68.28%
Mar 11, 3:00pm
flag
Swiss Market Index
6851.73
-21.86 (-0.32%)
+59.06%
Mar 11, 3:00pm
flag
OSE Norway All Share
416.78
-3.88 (-0.92%)
+67.03%
Mar 11, 3:00pm
flag
ATX Vienna
2518.32
+0.95 (0.04%)
+78.36%
Mar 11, 3:00pm
flag
Amsterdam Total Return General
339.02
-1.95 (-0.57%)
+70.15%
Mar 11, 3:00pm
flag
Madrid General
1145.23
-8.20 (-0.71%)
+59.87%
Mar 11, 3:00pm
flag
Stockholm General Index
318.58
-0.82 (-0.26%)
+69.34%
Mar 11, 3:00pm
Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1145.25
+1.77 (0.15%)
+98.79%
Mar 11, 10:45am
flag
TEL-TECH INDEX
321.08
-1.88 (-0.58%)
+109.64%
Mar 11, 10:45am
flag
TEL-TECH-15 INDEX
276.58
-1.65 (-0.59%)
+95.84%
Mar 11, 10:45am

 

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