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ASEAN STOCK WATCH Asean Affairs  25 March 2014 


25 March 2014

The Straits Times Index (STI) ended -7.66 points lower or -0.25% to 3104.17, taking the year-to-date performance to -1.92%.

The FTSE ST Mid Cap Index declined -0.08% while the FTSE ST Small Cap Index declined -0.38%. The top active stocks were DBS (-0.19%), GLP (-2.28%), SingTel (+0.28%), Noble Group (+1.85%) and UOB (-0.53%).

The outperforming sectors today were represented by the FTSE ST Telecommunications Index (+0.20%). The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+0.28%) and StarHub (-0.24%). The underperforming sector was the FTSE ST Utilities Index, which declined -1.44% with Hyflux’s share price remaining unchanged and HanKore’s share price declining -4.73%.The FTSE ST Basic Materials Index declined -0.39%.  The FTSE ST Financials Index declined -0.14%.

The three most active Exchange Traded Funds (ETFs) by value today were the IS MSCI India (+0.16%), SPDR Gold Shares (-0.58%), DBXT FTSE Vietnam ETF (-0.94%).

The three most active Real Estate Investment Trusts (REITs) by value were Ascendas REIT (+0.93%), CapitaMall Trust (-0.27%), Suntec REIT (unchanged).

The most active index warrants by value today were HSI21400MBeCW140429 (-6.21%), HSI21800MBePW140429 (-0.89%), HSI22200MBeCW140429 (-9.59%).

The most active stock warrants by value today were KepCorp MBeCW140603 (-1.92%), KepCorp MBeCW140701 (+3.18%), UOB MB eCW140602 (-6.29%).

Singapore Stock Market
                                  Tuesday                        Monday
*ST Index             3,104.17  -7.66         3,111.83  +38.44
Volume:                    1,830.3M                   2,102.1M
Value:                           $881M                 $1,022.7M
Gainers/Losers:           181/225                     284/179


Daily Market Commentary (Securities)
25 Mar 2014

The FBM KLCI index gained 3.32 points or 0.18% on Tuesday. The Finance Index increased 0.05% to 16540.97 points, the Properties Index dropped 0.02% to 1349.03 points and the Plantation Index rose 0.04% to 8913.83 points. The market traded within a range of 12.24 points between an intra-day high of 1837.17 and a low of 1824.93 during the session.

Actively traded stocks include INGENCO, RA, INSAS, MAS, KNM-WA, TIGER-WB, XDL, KNM, TA and TIGER. Trading volume increased to 2039.32 mil shares worth RM2009.59 mil as compared to Monday’s 1943.50 mil shares worth RM2012.81 mil.

Leading Movers were TM (+14 sen to RM6.11), PETGAS (+32 sen to RM23.82), CIMB (+4 sen to RM7.15), DIGI (+5 sen to RM5.29) and AXIATA (+3 sen to RM6.61). Lagging Movers were IHH (-6 sen to RM3.74), GENTING (-7 sen to RM9.69), PETCHEM (-5 sen to RM6.70), YTL (-2 sen to RM1.53) and PBBANK (-2 sen to RM19.14). Market breadth was negative with 332 gainers as compared to 439 losers.

The KLCI closed 3.32 points higher at 1837.17 after a last minute surge amid the weak sentiment following the lower US manufacturing data and potential new stimulus plan in China. The performance of our benchmark index was underpinned by gains in telecommunication counters such as TM, DIGI and MAXIS and AXIATA.


Trade Summary
Date As of:     25 March 2014    
Description                 Volume                           Value         Frequency
ETF                              6,600                    4,451,200                   05
Stock              4,943,174,744      5,436,806,865,264          197,565
Right                         600,500                       600,500                   02
Warrant                28,934,000             2,750,748,800                 620
Total                4,972,715,844      5,439,562,665,764          198,192


Thai bourse enhances corporate governance expertise for firms towards sustainability

BANGKOK, March 25, 2014 – The Stock Exchange of Thailand (SET) gears up to providing corporate governance (CG) expertise for listed companies from staff to management and board of directors levels via seminars, training and workshops throughout 2014, aiming to keep the leading position of Thai stock market’s CG standing in the region after Thailand’s achievement in gaining top CG scores in Asia as assessed by World Bank, reiterating SET’s commitment to continuously enhance CG among listed companies.
SET Chairman Sathit Limpongpan said SET valued the importance of running business with CG as it could stand as firm foundation to strengthen organizations, making them secure and strong, while returning benefits to society and environment on a larger scale following the sustainability development concept.

“The latest global trend getting more and more popular in several countries is that investors consider mainly on sustainable development. The value of investment among companies worldwide that have sustainable development are about USD 13.5 trillion. Such value in Asia is comparatively low. Therefore, this will be a great opportunity for Thai listed companies to be committed in operating business towards sustainability in order to attract more fund flow from foreign investment. Currently, PTT, PTT Exploration and Production, and PTT Global Chemical are members of Dow Jones Sustainability Index World, the global sustainability investment benchmark,” Sathit added.

SET has continuously enhanced listed companies to operate with CG following international standards and best practices and helped the Thai listed companies getting recognized by international organizations. Thailand has made outstanding performance among regional firms, proven by many recent achievements as follows: (1) Thailand gained 83 percent of CG-Report on the Observance of Standards (ROSC) score evaluated by World Bank in 2013 , the top score among 11 Asia countries joining the evaluation, and (2) Thai listed companies received top score of ASEAN CG Scorecard among six ASEAN countries.

In 2014, SET has been focusing on encouraging listed companies to regulate their organizations with CG principles at all levels, from BoD to management team, to operational staff. This year’s first activity will be the quarterly CG Forum, 1/2014, with “Effectiveness in boardroom: Route to success & best practices” theme, on March 25, focusing on board of directors role in gaining trust from shareholders as key mechanism to drive organization and other participants to grow sustainably. SET will also organize CEO CG Talk, a stage for companies’ executives to share experiences and views on CG practices, throughout the year. In addition, there will be workshops on CG practices in report production, a guideline for participants involved in preparing CG reports.


Thai bourse lists KTAM SET50 ETF Tracker on March 26

BANGKOK, March 25, 2014 – The Stock Exchange of Thailand (SET) will list KTAM SET50 ETF Tracker, managed by Krung Thai Asset Management pcl (KTAM), on its main board on March 26, under the ticker “ESET50.” The fund offers the lowest management fee among ETFs tracking SET50 in order to give more returns to investors.

ESET50, an open-end exchange-traded fund (ETF), will invest in constituent stocks of the SET50 index, consisting of large-cap companies having high liquidity and market capitalization of a combined THB 9 trillion (USD 277 billion), or 74 percent of the total market cap. The SET50 index’s average return was 6 percent per annum over the last ten years. Since the beginning of this year until mid-March, the SET50 index has increased about 5 percent with dividend yield of about 3.30 percent.

SET Executive Vice President Kesara Manchusree said SET has geared up its 2014 strategy to boost quality products for investors. Therefore, ESET50 would be launched as the first ETF to be listed on SET this year. The ETF invested in 50 constituent stocks of the SET50 index and its dividend policy was to pay up to four times a year. The most outstanding feature of the fund is its management fee, costing only 0.30 percent per year, the lowest fee comparing with the five ETFs tracking SET50 listed on Hong Kong, Japan, Thailand, United Kingdom and Singapore charging 0.45 percent on average. This would benefit investors to receive more returns from the movement of the 50 stocks.
“KTAM is Thailand’s biggest ETF fund management firm. The company has recently received SET Excellence Awards 2014 for best ETF fund management. “ESET50” will be an alternative investment, particularly for beginners as they could get returns following the movement of SET50. Currently, SET has several ETFs generating returns following the movement of indices and meeting various investors’ demands,” Kesara added.

KTAM Senior Executive and Vice President for Property Fund and Private Fund Management Chavinda Hanratanakool said the launch of KTAM SET50 ETF Tracker during March 6-14 was well-received by both retail and institutional investors despite the market’s high volatility during the period. The company could sell more than THB 170 million of ESET50 at THB 93.1770 per unit. KT Zmico Securities Co., Ltd. and Asia Plus Securities pcl are participating dealers, while Asia Plus is also market maker, and Thailand Securities Depository Co., Ltd. is registar for ESET50. For more information on ESET50,

Trading Summary

As of  25 March 2014         Unit: M.Baht
Type                                Buy                    Sell                 Net        
Institution                  2,010.75           2,834.40           -823.66     
Proprietary                3,954.66           3,603.16            351.50     
Foreign                      5,697.10          6,220.73           -523.63     
Individual                 12,068.75         11,072.96            995.79     
Total Trading Value        23,731.26 M.Baht     


Vietnam index closes down 0.9 pct on profit-taking

Vietnam's benchmark VN index  closed down 0.94 percent at 601.85 points on Tuesday, ending a two-day gaining streak, fueled by profit-taking and net selling among foreign investors.
Real estate firm Vingroup  led the losses, closing down 1.92 percent, while Hanoi-based bank BIDV   lost 2.27 percent.
"The market has increased a lot, so there has to be a correction," said analyst Nguyen Hoang Phuong at Ho Chi Minh City Securities, adding that the number of investors taking profit was high.

Foreigners have sold 6.42 trillion dong ($304.5 million) worth of shares in March, well above their purchase of 5.3 trillion dong, exchange data showed. They had been net buyers for the previous six straight months.

Here is a snapshot of the VN Index  at the close

                        VN Index         601.85            
                PREV. CLOSE         607.55            
                   % CHANGE        -0.94%            
                     HIGH       609.46            
                      LOW       601.85            


SE Asia Stocks-Thai shares rebound; Philippine weak wary of rate outlook

Thai stocks recouped early losses and ended 0.3 percent higher on Tuesday after late buying in energy shares and selected large caps, but market breadth remained weak due to rising political risks.
Gains in shares of the country's top three firms by market cap -- PTT , PTT Exploration and Production , and Siam Commercial Bank  -- helped lift the broader SET index .
Institutional investors were buying shares with the quarter nearing an end but players in most parts were cautious, brokers said.
Anti-government demonstrators in Thailand resumed street  protests this week after lying low for weeks, piling pressure on increasingly beleaguered Prime Minister Yingluck Shinawatra, who is expected to face impeachment within days.
 Most Southeast Asian stock markets ended lower as shares in Asia   were in a defensive mode amid uncertainty over Ukraine and the global economy. 
The Philippine index  fell 1 percent to its lowest close since Feb. 26 ahead of the central bank meeting on interest rate. Banking shares were broadly weak, led by a 3.5 percent drop in Bank of the Philippine Islands.
The Philippine central bank is expected to keep its policy rate steady at a record low of 3.5 percent on Thursday, but  hawkish comments from the governor have reinforced views interest rates may be raised as early as in the second quarter.

 Market                            Current          Prev Close       Pct Move
 TR SE Asia Index*          401.08               401.62             -0.13
 Singapore                       3104.17             3111.83             -0.25
 Kuala Lumpur                1837.17             1833.85             +0.18
 Bangkok                        1354.01             1349.90             +0.30
 Jakarta                           4703.09             4720.42             -0.37
 Manila                            6336.34             6400.67             -1.01
 Ho Chi Minh                    601.85               607.55              -0.94

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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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