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ASEAN STOCK WATCH 17 March 2010

Shayne Heffernan
www.livetradingnews.com

After a mixed day yesterday in Asia the US market has now provided some needed direction, and today we should see a widespread rally.

Dow 10,686.13 +43.98 (0.41%)

S&P 500 1,159.48 +8.97 (0.78%)

Nasdaq 2,378.01 +15.80 (0.67%)

Asian investors held back ahead of the Fed’s assessment of conditions in the world’s largest economy, Wall St reacted well to the news overnight setting the stage for a move forward in Asia.

Hong Kong’s Hang Seng average closed 0.27% lower at 21,022 on concerns of tightening in China. China Shenhua dropped nearly 3%, extending Monday’s 4% fall, after announcing weaker than expected quarterly earnings.

Chinese shares rose modestly, lifted by banks, airlines and retailers. The Shanghai Composite Index, which covers both A and B shares, closed at 2,993, up about 16 points or 0.53%.

Investors rushed Thailand on Tuesday, pushing Thai stocks to a two-month high on signs of waning anti-government protests and a bullish reportby U.S. investment bank Morgan Stanley, positive signs from Japan Investors and the EHIM launch in Bangkok.Shayne Heffernan of EHIM stated today that the ongoing political issue in Thailand should not be of interest to investors.

The gains came on a mixed day for the remainder of Southeast Asia. Singapore and the Philippines climbed, while Malaysia and Vietnam logged losses. Indonesia was closed for a market holiday.

In Singapore STI, the main index rose 0.77 percent, led by an 0.8 percent gain in each of both top lender DBS Group Holdings (DBSM.SI) and United Overseas Bank UOBH.ST.

In Kuala Lumpur, the index fell for a fourth session, losing 0.06 percent to its weakest since March 5.

In the Philippines, the PSI ended 0.3 percent higher, erasing early losses that took it to its lowest since March 5.

Vietnam .VNI lost 3 percent to a one-week low.

All Asian markets will see positive groun tomorrow, Malaysia and Singapore are due for strong rallies.

US stocks rose overnight after the Federal Reserve held benchmark rates near zero and renewed its pledge to keep them exceptionally low for an extended period.

The central bank also pointed to increased momentum in the economy’s recovery, indicating it may be moving closer to dropping its promise to keep borrowing costs near zero and rate hikes could be on the horizon.

Earlier in the session, stocks moved higher after Standard & Poor’s ended its review for a downgrade of Greece, saying the government’s recent deficit-reduction measures are supportive of the ratings. Concerns about Greek debt have been a drag on equities in recent weeks.

Intel was among the Dow’s top performers, up 3.6 per cent at $US21.93 after it released its newest server chips, in expectation of a rise in demand. The Philadelphia semiconductor index gained 2.4 per cent.

Global Market Indexes

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12076.11
+67.31 (0.56%)
+43.99%
Mar 16, 3:00pm
flag
Mexican Bolsa IPC Index
32637.35
+59.30 (0.18%)
+67.91%
Mar 16, 3:00pm
flag
Brazil Bovespa Index
69673.40
+649.65 (0.94%)
+80.47%
Mar 16, 3:00pm
flag
Argentina Merval Index
2368.16
+16.81 (0.71%)
+129.08%
Mar 16, 3:00pm
flag
Chile IPSA Index
3811.15
+19.42 (0.51%)
+55.17%
Mar 16, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10721.71
-30.27 (-0.28%)
+39.17%
Mar 16, 3:00pm
flag
ASX All Ordinaries
4809.10
+0.00 (0.00%)
+45.85%
Mar 16, 3:00pm
flag
Seoul Composite
1648.01
-1.49 (-0.09%)
+46.43%
Mar 16, 3:00pm
flag
Hong Kong Hang Seng
21022.93
-56.17 (-0.27%)
+62.01%
Mar 16, 3:00pm
flag
Shanghai
2992.84
+15.90 (0.53%)
+38.99%
Mar 16, 3:00pm
flag
Taiwan Weighted
7695.63
+60.71 (0.80%)
+54.80%
Mar 16, 3:00pm
flag
Singapore Straits Times
2896.43
+22.10 (0.77%)
+82.59%
Mar 16, 3:00pm
flag
Bombay Sensex Index
17383.18
+218.19 (1.27%)
+94.37%
Mar 16, 3:00pm
flag
Jakarta Composite
2669.61
+3.10 (0.12%)
+101.50%
Mar 16, 3:00pm
flag
Kuala Lumpur Composite
1298.86
-0.81 (-0.06%)
+54.46%
Mar 16, 3:00pm
flag
PSE Composite
3085.13
+8.34 (0.27%)
+74.33%
Mar 16, 3:00pm
flag
Sri Lanka All Share
3785.50
-58.05 (-1.51%)
+133.70%
Mar 16, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5620.43
+26.58 (0.48%)
+45.46%
Mar 16, 3:00pm
flag
Paris CAC 40
3938.95
+48.04 (1.23%)
+41.10%
Mar 16, 3:00pm
flag
Frankfurt Index
5970.99
+67.43 (1.14%)
+47.63%
Mar 16, 3:00pm
flag
Milan BCI General
15743.00
+0.00 (0.00%)
+35.38%
Mar 15, 5:30pm
flag
Belgium 20 Index
2631.57
+22.77 (0.87%)
+54.10%
Mar 16, 3:00pm
flag
Swiss Market Index
6874.43
+49.33 (0.72%)
+42.73%
Mar 16, 3:00pm
flag
OSE Norway All Share
416.56
+4.98 (1.21%)
+62.02%
Mar 16, 3:00pm
flag
ATX Vienna
2580.97
+34.22 (1.34%)
+67.31%
Mar 16, 3:00pm
flag
Amsterdam Total Return General
339.26
+4.15 (1.24%)
+57.22%
Mar 16, 3:00pm
flag
Madrid General
1145.78
+9.70 (0.85%)
+42.53%
Mar 16, 3:00pm
flag
Stockholm General Index
322.65
+2.18 (0.68%)
+56.41%
Mar 16, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1145.10
+0.56 (0.05%)
+88.42%
Mar 16, 11:46am
flag
TEL-TECH INDEX
318.03
-0.89 (-0.28%)
+92.26%
Mar 16, 11:46am
flag
TEL-TECH-15 INDEX
272.98
-1.16 (-0.42%)
+79.67%
Mar 16, 11:46am


 

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