ASEAN KEY DESTINATIONS
24 March 2014
The Straits Times Index (STI) ended +38.44 points higher or +1.25% to 3111.83, taking the year-to-date performance to -1.68%.
The FTSE ST Mid Cap Index gained +0.27% while the FTSE ST Small Cap Index gained +0.77%. The top active stocks were DBS (+1.52%), UOB (+1.31%), SingTel (+1.14%), GLP (+0.38%) and OCBC Bank (+0.75%).
The outperforming sectors today were represented by the FTSE ST Industrials Index (+2.05%). The two biggest stocks of the FTSE ST Industrials Index are Jardine Strategic Holdings (+1.68%) and Jardine Matheson Holdings (+4.97%). The underperforming sector was the FTSE ST Technology Index, which declined -0.67% with Silverlake Axis’ share price declining -1.15% and STATS ChipPAC ’s share price gaining +1.54%.The FTSE ST Basic Materials Index gained +0.46%. The FTSE ST Financials Index gained +0.95%.
The three most active Exchange Traded Funds (ETFs) by value today were the DBXT FTSE Vietnam ETF (+0.27%), SPDR Gold Shares (-1.16%), DBXT S&P/ASX 200 ETF (-1.00%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (unchanged), CapitaCommercial Trust (-0.34%), Ascendas REIT (-0.46%).
The most active index warrants by value today were HSI21400MBeCW140429 (+27.19%), HSI22200MBeCW140429 (+32.73%), HSI21800MBePW140429 (-23.65%).
The most active stock warrants by value today were UOB MB eCW140701 (+14.66%), UOB MB eCW140602 (+11.47%), KepCorp MBeCW140603 (+8.33%).
Singapore Stock Market
*ST Index 3,111.83 +38.44 3,073.39 +16.19
Volume: 2,102.1M 1,580M
Value: $1,022.7M $1,173.5M
Gainers/Losers: 284/179 254/166
Daily Market Commentary (Securities)
24 Mar 2014
The FBM KLCI index gained 13.09 points or 0.72% on Monday. The Finance Index increased 0.57% to 16532.8 points, the Properties Index up 0.05% to 1349.24 points and the Plantation Index rose 0.81% to 8910.66 points. The market traded within a range of 13.20 points between an intra-day high of 1834.23 and a low of 1821.03 during the session.
Actively traded stocks include INGENCO, INSAS, MEGB, XDL, TIGER-WB, IRIS, SUMATEC, SONA, SONA-WA and MPAY-WA. Trading volume increased to 1943.50 mil shares worth RM2012.81 mil as compared to Friday’s 1751.83 mil shares worth RM3128.59 mil.
Leading Movers were GENTING (+16 sen to RM9.76), MAYBANK (+8 sen to RM9.64), PETGAS (+40 sen to RM23.50), AXIATA (+6 sen to RM6.58) and SKPETRO (+8 sen to RM4.30). Lagging Movers were GENM (-5 sen to RM4.21) and MISC (-1 sen to RM7.00). Market breadth was positive with 428 gainers as compared to 370 losers.
The KLCI made a bright start of the week by closing higher at 1833.85 points, underpinned by gains in heavyweight plantation counters and the banking stocks as well. The positive performance was in line with the broader Asian market as the sentiments were not dented by the disappointing manufacturing data in China, which fell to an eight-month low in March.
Thai alternative bourse lists SMEs lender on March 25
BANGKOK, March 24, 2014 – The Stock Exchange of Thailand (SET) welcomes Lease IT pcl, operating leasing, hire purchase and factoring for small- and medium-sized enterprises (SMEs), to its Market for Alternative Investment (mai). The company will list and start trading on March 25, under the ticker symbol “LIT,” after raising THB 151 million (approximately USD 4.67 million).
Prapan Charoenprawatt, mai President, said that LIT, a subsidiary of SVOA pcl (SVOA), realized the growth potential and wanted to strengthen financial status to ensure that its leasing business grow continuously, and therefore decided to spin off LIT through an initial public offering (IPO).
LIT operates lending activities for SMEs having limitations to get loans from financial institutions. There are four types of loans which are leasing, hire purchase, factoring, and other financial services, such as bid bond, project backup financing, including trade finance.
LIT has a paid-up registered capital of THB 200 million, with a par value of THB 1.00 each, consisting of 116 million existing common shares and 84 million newly-issued shares. It sold a total of 90 million shares, of which 33.6 million shares went to LIT's shareholders during March 12-14, while 52.2 million shares to the general public and 4.2 million shares to the company’s directors and employees at THB 1.8 per share. Finansia Syrus Securities pcl is the financial advisor and lead underwriter.
Sompon Aketerajit, LIT’s managing director, said that LIT felt honored and very pleased to be listed on mai. The fund raised would be used to expand lending business and working capital to support the company’s growth in the future.
LIT's three major shareholders after the IPO are SVOA (47 percent), Prasit Karnchanasakchai (8 percent) and Intanate Group (3.34 percent). The IPO price had a price/earnings ratio (P/E) of 11.25 times, calculated by using 2013 earnings worth of THB 32.1 million, divided by the number of fully-diluted shares, equivalent to earnings per share of THB 0.16. Its dividend policy is to pay no less than 50 percent of net profits after corporate taxes and reserves.
Thai bourse enhances “Your 1st Stock” project to boost quality investors
BANGKOK, March 24, 2014 – The Stock Exchange of Thailand (SET) has launched “Your 1st Stock” project for the second year after having successfully increased more than 100,000 new investors last year. This year’s project is under “Begin stock trading…Invest with quality” concept focusing on new investors categorized by career segmentation and aims to boost new investor base to ensure their sustainable investment. SET also joins hands with Thai Financial Planners Association (TFPA) to develop contents intensively for all investors’ needs.
SET President Charamporn Jotikasthira said that SET has placed importance on increasing investors with focus on quality, as key to develop Thai capital market to grow sustainably. Therefore, SET has continued the “Your 1st Stock” project to enhance the concept that investing in stock is a kind of owning business using low fund with possibility of getting consistent returns, without having to set up a business. From the past record, investing in stocks for more than 10 years would get an average return of 12 percent per year. In 2013, SET-listed companies paid historic high of dividends with many firms paying more than 5 percent dividend for the fifth consecutive year.
“Your 1st Stock” project will focus on career segmentation, which are employees in private firms, public officials, physicians, teachers and university students. Each career has individual behavior, interest and need. SET has then joined hands with TFPA to upgrade financial and investment planning contents, enabling Thais in all careers to get the insights throughout this year. The project also expands its cooperation to 24 broker partners through a joint seminar and activities, expecting to boost about 80,000 new investors this year,” Charamporn added.
TFPA Chairman Teera Phutrakul said, “It is significant that TFPA has received participation from financial planning professionals having certified financial planners (CFP) offering expertise for each particular career, both in Bangkok and provinces, as well as through articles to guide financial planning and savings. In addition, the planner will also give one-on-one financial advice for investors by request. This cooperation will provide great opportunity for Thai people to start financial planning for a brighter future, capitalizing Thai capital market.”
Investors having new accounts with these 24 brokers within 2014 can join the project and get benefits from activities and investment information throughout the year. For more information, please contact www.set.or.th/yourfirststock .
As of 24 March 2014 Unit: M.Baht
Type Buy Sell Net
Institution 1,494.57 2,641.86 -1,147.29
Proprietary 4,066.72 3,659.03 407.70
Foreign 8,602.20 7,661.43 940.77
Individual 13,583.88 13,785.05 -201.17
Total Trading Value 27,747.37 M.Baht
Vietnam index up 1 pct on Q1 earnings, home loans
Vietnam's VN Index closed up 0.96 percent on Monday at 607.55 points, its highest in 53 months, with investors in positive mood ahead of a property market lending boost and first-quarter earnings reports.
Banks saw the strongest gains, with a 2.25-percent rise for Vietcombank , the biggest lender by market capitalisation and 4.5 percent increase for Sacombank .
Eximbank was up 3.47 percent and Military Bank rose 2.44 percent. "Local investors are putting money into the market on hopes of good corporate results in the first quarter of 2014," analyst Vu Duy Khanh at Navibank Securities said. The reports are due in April.
Gains on the index were driven in part by news in local media of a 50 trillion dong ($2.4 billion) loan package to be offered by the Vietnam Construction Bank, aimed at reviving a sluggish real estate market.
Here is a snapshot of the VN Index at the close
VN Index 607.55
PREV. CLOSE 601.75
% CHANGE 0.96%
SE Asia Stocks-Thai shares lag amid political worry; Singapore posts best gain in 6 mths
Thai stocks closed at their two-week lows on Monday amid rising political tensions and selling led by domestic investors, while the Singapore index
posted its best gain in six months amid buying in recently battered banking and property shares.
The Thai SET index closed 0.78 percent lower at 1,349.90, its lowest finish since March 10. Consumer and tourism-related shares such as Charoen Pokphand Foods and Airport of Thailand were among the top percentage losers.
The baht bucked the regional trend and fell on renewed worries about political unrest after the constitutional court nullified last month's election.
The move increased downside risks to Thailand's economic growth outlook and heightened the risks of more widespread and violent protest by anti- and pro-government groups, Moody's Investors Service said.
"This development is credit negative for Thailand (Baa1, stable) because the four-month old political crisis could spill over into the second half of this year," the rating agency said in a report.
Anti-government demonstrators in Thailand resumed street protests on Monday after lying low for weeks, piling pressure on increasingly beleaguered Prime Minister Yingluck Shinawatra, who is expected to face impeachment within days.
Domestic institutions and retail investors were net sellers of Thai shares for a combined 1.35 billion baht ($41.70 million), while foreign investors were net buyers of 941 million baht ($29 million), their first in three sessions, Thomson Reuters data showed.
Singapore was the bright spot, with the key Straits Times Index climbing 1.25 percent, its biggest one-day rise since Sept. 19. DBS Group Holdings and Hongkong Land Holdings led gainers.
Shares of banks and property firms have been badly hit due to selling related to concerns about the weak outlook in China.
"The risk is not as bad as people feel and probably the recent selling due to concerns about China could be overdone...
The buying today should be a combination of short covering on banking stocks and fresh buying or bottom fishing on banking and property shares," said an analyst with UOB Kay Hian Research in Singapore.
Stocks in Malaysia rose to their highest in more than two weeks, the Philippines ended three sessions of falls, and Indonesia eked out gains for a second session amid foreign investors-led buying.
Stock exchange and Thomson Reuters data showed net foreign buying of 186 million ringgits ($56.22 million) of Malaysian shares, 307 million pesos ($6.78 million) of the Philippines and 268 billion rupiahs ($23.5 million) of Indonesia.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 402.06 400.06 +0.50
Singapore 3111.83 3073.39 +1.25
Kuala Lumpur 1833.85 1820.48 +0.73
Bangkok 1349.90 1360.50 -0.78
Jakarta 4720.42 4700.21 +0.43
Manila 6400.67 6339.26 +0.97
Ho Chi Minh 607.55 601.75 +0.96