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ASEAN STOCK WATCH Asean Affairs 14 March 2013 

ASEAN Market Preview

China IPO withdrawals signify loss of confidence in Asian Markets

Seven companies terminated their IPO applications last week, according to data from the China Securities Regulatory Commission (CSRC).

A total of 30 companies had quit their IPO applications by the end of last week, according to the CSRC.

The data showed that there are 323 companies queue for listing in the second-board market, and that 20 companies have stopped the process.

For the main-board markets, including the Shanghai and Shenzhen stock markets, 10 companies out of 536 companies terminated the process.

Industry insiders predicted that more companies will stop their IPO reviews in the second half of March.

Wall St

Signs of strength in the economy and the Federal Reserve's easy monetary policy have helped U.S. equities accelerate their advance. The blue-chip Dow is up more than 10 percent for the year and the benchmark S&P 500 index has gained 9 percent.

Tokyo fell 0.61 percent, or 75.15 points to 12,239.66, Sydney slipped 0.50 percent, or 25.5 points, to 5,092.4, while Seoul rose 0.32 percent, or 6.39 points, to 1,999.73.

Hong Kong shed 1.46 percent, or 333.95 points, to end at 22,556.65, while Shanghai fell 0.99 percent, or 22.64 points, to 2,263.97.

– Wellington fell 0.86 percent, or 37.62 points, to 4,341.15.

Telecom eased 6.0 percent to NZ$2.30 while Auckland Airport was down 4.2 percent at NZ$2.76 and Fletcher Building lost 1.76 percent to NZ$8.94.

– Manila closed 0.15 percent lower, giving up 9.86 points to 6,776.56.

SM Investments fell 0.54 percent to 1,098 pesos and Ayala Land dropped 0.64 percent to 31.20 pesos, while Alliance Global Group slipped 1.79 percent to 22 pesos.

– Taipei ended flat, edging up 0.80 points to 7,995.51.

Taiwan Semiconductor Manufacturing Co. rose 1.95 percent to Tw$104.5 while smartphone maker HTC fell 3.98 percent to Tw$241.0.

– Kuala Lumpur lost 0.62 percent, or 10.32 points, to 1,646.22.

CIMB Group shed 1.9 percent to 7.11 ringgit, RHB Capital lost 3.5 percent to 8.15 while Petronas Gas gained 1.9 percent to 18.96.

– Bangkok added 0.13 percent, or 2.02 points, to 1,578.70.

Oil company Bangchak Petroleum rose 4.26 percent to 36.75 baht, while Kiatnakin Bank jumped 4 percent to 65 baht.

– Jakarta was down 0.39 percent, or 18.87 points, at 4,835.44.

Cement producer Semen Indonesia lost 1.91 percent to 18,000 rupiah, auto manufacturer Astra International dropped 1.24 percent to 7,950 rupiah, while paper maker Pabrik Kertas Tjiwi Kimia gained 2.35 percent to 2,175 rupiah.

– Singapore dropped 0.44 percent, or 14.50 points, to 3,288.52.

Singapore Airlines gained 0.18 percent to Sg$10.89 while Oversea-Chinese Banking Corp. shed 1.16 percent to Sg$10.25.

– Mumbai fell 1.03 percent, or 202.37 points, to 19,362.55 points.

Infosys was down 1.89 percent at 2,862.45 rupees and Tata Motors shed 1.15 percent to 300.80 rupees.

Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






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