ASEAN KEY DESTINATIONS
17 Mar 2014
Singapore shares rebound on positive trade data
Singapore stock market snapped a three-day losing streak on Monday, buoyed by positive trade data, while the broader Asian market remained nervous over rising tensions in Ukraine.
The benchmark Straits Times Index was up 0.21 percent at 3080.25 by 0443 GMT. MSCI's broadest index of Asia-Pacific shares outside Japan inched 0.04 percent higher.
Singapore's non-oil domestic exports rose 9.1 percent in February, beating expectations, compared with a year earlier, official data showed on Monday.
DBS Group Holdings Ltd edged up 0.32 percent to an intra-day high of S$15.78, after opening at an eight-month low of S$15.70.
Singapore's biggest bank by assets on Monday said it agreed to acquire Societe Generale's Asian private bank for $220 million. The deal with the French bank would help DBS to boost its private banking assets by almost a third to about $60 billion.
Among other stocks, St. James Holdings Ltd outperformed the Singapore market, soaring nearly 30 percent to an intra-day high of S$0.077, the highest in almost nine months.
As of 0343 GMT, 49.8 million shares changed hands, more than 30 percent of the average 30-day daily trading volume.
St. James Holdings said late on Friday it entered into agreements with Perennial Real Estate Holdings Pte Ltd and other vendors to acquire equity interests in certain properties and businesses for S$1.56 billion.
Brokerage CIMB downgraded its rating on Perennial China Retail Trust to "reduce" from "hold" and cut its target price to S$0.50 from S$0.55. The brokerage viewed the deal negatively, advising to "reduce exposure on potential overhang post the announcement".
"Investors will gain access to a portfolio with higher gearing and proportion of assets under development, thus higher risk, in our view," it said in a research note.
Daily Market Commentary (Securities)
17 Mar 2014
The FBM KLCI index gained 10.04 points or 0.56% on Monday. The Finance Index increased 0.44% to 16359.25 points, the Properties Index up 0.12% to 1322.91 points and the Plantation Index rose 0.17% to 8900.68 points. The market traded within a range of 12.28 points between an intra-day high of 1815.16 and a low of 1802.88 during the session.
Actively traded stocks include MAS, KNM-WA, WINTONI, KNM, XDL, TOGER, FLONIC, MTRONIC, SOLUTN and IRIS. Trading volume decreased to 1268.82 mil shares worth RM1516.40 mil as compared to Friday’s 1369.82 mil shares worth RM2076.07 mil.
Leading Movers were PBBANK (+12 sen to RM19.04), AXIATA (+6 sen to RM6.50), IHH (+10 sen to RM3.79), TENAGA (+8 sen to RM12.00) and PPB (+42 sen to RM16.50). Lagging Movers were FGV (-9 sen to RM4.51), UMW (-10 sen to RM10.60), YTL (-1 sen to RM1.52), PETDAG (-18 sen to RM30.12) and HLFG (-8 sen to RM15.22). Market breadth was negative with 300 gainers as compared to 436 losers.
The KLCI ended higher at 1815.16 points, mainly lifted by the strong gains made by IHH and Astro. Broader market sentiment was negative where the number of losers outpaced number of gainers, as investors remained cautious amid escalating tension in Ukraine.
As of 17 Mar 2014 Unit: M.Baht
Type Buy Sell Net
Institution 3,633.18 2,842.38 790.80
Proprietary 3,780.03 3,348.23 431.79
Foreign 6,398.49 7,929.78 -1,531.29
Individual 15,226.90 14,918.21 308.69
Total Trading Value 29,038.60 M.Baht
Vietnam index hits new 52-mth high on buying, rate cuts
Vietnam's benchmark VN Index ended up 0.59 percent at 600.36 points on Monday, a new 52-month peak, boosted by buying demand and after the central
bank announced several rate cuts.
The central bank said on Monday it will lower the ceiling on interest rates that banks can offer on dong deposits to 6.0 percent per annum from 7.0 percent now.
"The continued decline in deposit rates will likely support the rally in the local stock market," the ANZ bank said in a report on Monday.
The index on Vietnam's market, Southeast Asia's best performer in 2013, closed at the highest level since Oct. 26, 2009, rising past a 52-month peak reached last Friday.
The Market Vectors Vietnam exchange-traded fund would add stocks of food producer Masan Group and Petrovietnam Transportation Corp to its portfolio
for this quarter's restructuring, it said in a statement.
MSN ended up 6.93 percent and PVT rose 6.67 percent.
"The ETF's buying has surprisingly boosted the index surpassing its strong resistance level of 600 points," said analyst Do Bao Ngoc at VPBank.
The fund said it would also buy stocks of property firms Vingroup Co and HAGL Co. VIC shares closed up 3.29 percent and HAG shares ended up 4.06 percent.
The VN Index would rise further thanks to positive sentiment and extended buying from ETF this week, analysts said.
Here is a snapshot of the VN Index at the close
VN Index 600.36
PREV. CLOSE 596.83
% CHANGE 0.59%
SE Asia Stocks-Thai shares up on hopes of easing political crisis
Thai shares posted modest gains on Monday, helped by selective buying in dividend-yielding stocks such as Advanced Info Service as investors cautiously added risk positions on expectations of a possible lifting of the emergency.
The SET index ended up 0.36 percent with shares of Advanced Info climbing 1.9 percent and closing at their day's high. Airports of Thailand rose 0.8 percent, rebounding from earlier losses due to profit-taking.
Traders expect some developments this week that could ease the political crisis, including a cabinet meeting on Tuesday expected to end the imposition of emergency and a court hearing on Wednesday on the February election.
Stocks in Singapore and Malaysia were cautiously higher in line with broader Asian stock markets, with tensions in Ukraine still weighing on sentiment.
DBS Group Holdings, Singapore's No.4 stock by value, posted its first gain in seven sessions, rising 1.1 percent following its planned acquisition of Societe Generale's
private banking business in Asia.
Philippine stocks end slightly higher, reversing early losses, helped by positive data on January remittances from Filipinos overseas and the World Bank's upbeat view on the
country's economy this year.
Vietnam rose after state media reported that the central bank would cut key rates this week, while Indonesia pared early gains amid profit-taking in banking shares
such as Bank Rakyat Indonesia.
Indonesia has risen 22 percent so far this year in U.S. dollar terms and is Asia's best performer.
It rallied on Friday after main opposition PDI-P party named Jakarta Governor Joko Widodo as its presidential candidate, and investors were hopeful the election for parliament in April and the presidential vote in July would run smoothly.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 407.16 405.14 +0.50
Singapore 3092.14 3073.72 +0.60
Kuala Lumpur 1815.16 1805.12 +0.56
Bangkok 1377.10 1372.18 +0.36
Jakarta 4876.19 4878.64 -0.05
Manila 6399.99 6391.24 +0.14
Ho Chi Minh 600.36 596.83 +0.59