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ASEAN STOCK WATCH Asean Affairs  14 March 2014 



Singapore

14 March 2014

The Straits Times Index (STI) ended -7.67 points lower or -0.25% to 3073.72, taking the year-to-date performance to -2.88%.

The FTSE ST Mid Cap Index declined -0.22% while the FTSE ST Small Cap Index gained +0.04%. The top active stocks were Olam (+11.78%), DBS (-0.44%), GLP (unchanged), SingTel (-0.85%) and Keppel Corp (+0.10%).

The outperforming sectors today were represented by the FTSE ST Utilities Index (+1.15%). The two biggest stocks of the FTSE ST Utilities Index are Hyflux (+0.82%) and HanKore (+0.74%). The underperforming sector was the FTSE ST Real Estate Holding and Development Index, which declined -0.83% with Hongkong Land Holdings’ share price declining -0.94% and Global Logistic Properties’ share price remaining unchanged. The FTSE ST Basic Materials Index gained +0.21%.  The FTSE ST Financials Index declined -0.51%.

The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Straits Times Index ETF (-0.97%), DBXT S&P/ASX 200 ETF (unchanged), SPDR Gold Shares (-0.20%).

The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (unchanged), Ascendas REIT (-0.47%), Suntec REIT (unchanged).

The most active index warrants by value today were HSI22200MBeCW140429 (-21.51%), HSI21800MBePW140429 (+10.69%), HSI23000MBeCW140429 (-17.50%).

The most active stock warrants by value today were KepCorp MBeCW140603 (-4.04%), KepCorp MBeCW140701 (-3.13%), UOB MB ePW140602 (+6.90%).

Singapore Stock Market
                                        Friday                     Thursday
*ST Index               3,073.72  -7.67        3,081.39  -16.04
Volume:                       2,016.7M                  2,002.7M
Value:                        $1,215.5M                $1,078.6M
Gainers/Losers:              183/251                    212/200


Indonesia

Indonesian lender BTPN shares jump 9 pct after SMFG buys stake

Bank Tabungan Pensiunan Nasional (BTPN) <BTPN.JK> shares surged as much as 9 percent on Friday after Japan's Sumitomo Mitsui Financial Group <8316.T> said it bought 919.3 million shares of the Indonesian lender.

Sumitomo paid 6,500 rupiah per share, a 44.8 percent premium to its closing price on Thursday, BTPN said in a stock exchange filing. Following the transaction, Sumitomo owns 2.3 trillion shares in Indonesia's seventh-biggest lender by market value.

Last year, Sumitomo had agreed to buy up to 40 percent stake of BTPN, which is backed by TPG Capital <TPG.UL> , giving the Japanese bank a foothold in the fast-growing Southeast Asian economy. ID:nT9N0CH08H

As of 0833 GMT, the lender's stock was up 5.6 percent. The broader Jakarta Composite Index <.JKSE> was up 2 percent, while the blue-chip index <.JKLQ45> was 2.8 percent higher.

Trade Summary
Date As of:     14 March 2014  
Description                  Volume                             Value           Frequency
ETF                           102,000                      63,084,100                  167
Stock               8,148,569,719        15,908,642,759,178           279,744
Right                                   00                                    00                    00
Warrant                    41,624,100              3,094,758,900              1,698
Total                    8,190,295,819     15,911,800,602,178           281,609


Thailand

Trading Summary

As of  14 March 2014         Unit: M.Baht
Type                          Buy                    Sell               Net        
Institution             3,630.88           3,352.74         278.14     
Proprietary          4,218.61           2,977.07      1,241.55     
Foreign               6,353.44            8,811.81     -2,458.38     
Individual           17,112.20         16,173.51         938.69     
Total Trading Value     31,315.14 M.Baht     
                                               

Vietnam

Vietnam index ends at 52-mth high on domestic buying

Vietnam's benchmark VN Index   climbed 0.27 percent to end at 596.83 points on Friday, a 52-month peak, supported by solid buying from domestic investors, analysts said.     
    
"Sentiment is positive and money inflow has been solid," said deputy manager Nguyen Hoai Nam from Maybank Kim Eng Securities.
   
 Stocks have been more attractive than other investment channels such as gold, property or savings, analysts said.  
   
 The index rose to the highest since October 2009, the eighth consecutive gain. Vietnam's stock market, Southeast Asia's best performer in 2013, has risen around 18 percent so far this year.
    
Vinamilk , Vietnam's top dairy product maker, led the gain on Friday, with shares rising 2.74 percent to close at 150,000 dong ($7.1) each, its seven-month high.
   
Pharmaceutical firm DHG   climbed 5.8 percent, and food producer Masan Group Corp    advanced 1.51 percent.
    
The index is likely to further rise, given positive sentiment and solid inflows, analysts said.
 
Here is a snapshot of the VN Index  at the close

                         VN Index       596.83                
                 PREV. CLOSE       595.22                
                    % CHANGE        0.27%                
                                                      
                     HIGH       600.68                
                      LOW       594.51                
                                            

Asean

SE Asia Stocks-Indonesia posts best gain since Sept; Thailand up

Indonesian shares jumped 3.2 percent on Friday, their biggest one-day gain in almost six months, after main opposition PDI-P party named Jakarta's hugely popular governor, Joko Widodo, as its candidate for this year's presidential election.
    
Joko Widodo's candidacy as president triggered late buying in banking and large cap shares due to positive economic prospects.
    
"The rally is driven by sentiment that Indonesia will have a good president that is willing to take difficult decision, have good and clean historical track record, pro-development for all," said Wilianto Le, Head of Research at Maybank Kim Eng.
    
"... and most of all an expectation of smooth transition of power to opposition party which shows Indonesia is turning into a developed democracy," he wrote in a report.
    
Jakarta's Composite Index   closed at 4,878.64, the highest since June 2013, ending the week up 4.1 percent, Southeast Asia's best performer.
   
 It slipped earlier amid weakness in the region due to concerns about the crisis in Ukraine and weaker-than-expected Chinese data.  
    
"The market is quite excited about the nomination of Jokowi.  This could drive JCI to the 5,000 level in the near term," said Harry Su, head of research at broker Bahana Securities.
    
Shares of Bank Mandiri    jumped 9.1 percent while Bank Rakyat Indonesia    surged 10.5 percent.
    
Thai stocks extended their gains for a third week, rising 1.3 percent, after the Bank of Thailand cut its benchmark interest rate and amid expectations about a possible removal of the emergency decree.      

 
SOUTHEAST ASIAN STOCK MARKETS
 
 Market                             Current          Prev Close    Pct Move
 TR SE Asia Index*           405.76                 403.71         +0.51
 Singapore                       3073.72               3081.39          -0.25
 Kuala Lumpur                1805.12               1818.86           -0.76
 Bangkok                        1372.18               1370.50          +0.12
 Jakarta                           4878.64               4726.17          +3.23
 Manila                            6391.24               6429.79           -0.60
 Ho Chi Minh                    596.83                 595.22           +0.27
 

Asia

Asian stocks follow Wall Street lower


Asian stocks followed Wall Street lower Friday on lingering concerns about weakness in the Chinese economy and tensions in Ukraine.

Regional benchmarks took their lead from the Dow Jones industrial average, which had its worst day in six weeks.

Worries that world's No. 2 economy is entering a deeper slowdown were heightened after data released Thursday showed Chinese industrial production and retail sales grew slower than analysts expected. At the same time, Premier Li Keqiang signaled that China's leaders are "not preoccupied" with hitting the official 7.5 percent economic growth target.

Investors are also retreating from risky investments such as stocks ahead of a public referendum in Crimea on Sunday to decide whether to break away from Ukraine and become part of Russia.

"Risk aversion is likely to deepen at the end of the week and at the beginning of next week," strategists at Credit Agricole CIB wrote in a research note.

Japan's Nikkei 225 tumbled nearly 3 percent to 14,380.79 as investors sought haven in yen, sending its value higher. A stronger yen makes goods sold by the country's exporters pricier for overseas buyers. The dollar has lost about 1.4 percent against the yen in the past week and was trading at 101.65 Japanese yen, down from 102.74 yen late Thursday.

Hong Kong's Hang Seng dropped 1 percent to 21,541.04 and China's Shanghai Composite fell 0.5 percent to 2,008.36. South Korea's Kospi slipped 0.4 percent to 1,925.81.

Stocks in Australia, where the resource-led economy and currency have been highly dependent on China's fortunes, dropped sharply, with the S&P/ASX 200 sinking 1.3 percent to 5,340.40.

Mining and resource companies were among the hardest hit on the Australian bourse, with Rio Tinto losing 2.4 percent and BHP Billiton shedding 1.6 percent.

"Cyclical names were already going to be on the back foot due to Ukraine concerns but China data just exacerbated the situation," said Stan Shamu, market strategist at IG Markets in Melbourne.

On Wall Street, the Dow Jones industrial average slid 1.4 percent to 16,108.89 on Thursday. The S&P 500 fell 1.2 percent to close at 1,846.34. The Nasdaq composite dropped 1.5 percent to 4,260.42. The last time the market had a bigger decline was Feb. 3, when the Dow sank 326 points, or 2.1 percent.

The euro fell slightly to $1.3861 from $1.3863.

Oil prices edged higher. Benchmark crude for April delivery was up 1 cent to $98.21 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 21 cents to close at $98.20 on Thursday.




 
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ASEAN  ANALYSIS

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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