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ASEAN STOCK WATCH 27 March 2010

Shayne Heffernan
www.livetradingnews.com

All ASEAN markets ended higher on Friday with the exception of Thailand that was the victim of profit taking on the eve of another round of Red Shirt protests. Investors bought blue chip stocks through out the region. Markets took their lead from U.S. stock futures, which rallied to a higher start on Friday, according to Shayne Heffernan of Ebeling Heffernan.

Indonesia, which is actually ASEAN's biggest economy, is set to outperform the region for the quarter, with a gain of 11 percent so far this year, ahead of Thailand's 6 percent, the second best. These 2 Economies are great investments according to Shayne Heffernan.

Currently the listed companies in Thailand are trading at 11.6 times 2011 earnings, even after the current rally, they are the cheapest in Southeast Asia after the Philippines' 13.2, Indonesia's 13.32 and Malaysia's 15.5, according to research data.

Thailand's SET index fell 0.7 percent, with the domestic political situation in the spotlight as red shirt anti-government protesters said they would mobilise again in Bangkok at the weekend, continuing their lengthy protest. Profit takers took this as a chance to cash in on gains over the month.

CIMB Thai Bank plunged 9.3 percent after announcing plans to raise about 9 billion baht via rights and bond issues. This was a substantial over-reaction by investors and the stock was very cheap Friday afternoon and is a "strong buy Monday morning" according to Ebeling Heffernan. In Indonesia the index gained 0.5 percent to its highest since Jan. 15, 2008, led by a 4.4 percent rise in Bumi Resources.

In Singapore, the STI finished 0.6 percent higher although the city state's stronger than expected factory output in February fuelled expectations of policy tightening next month. Resources led the market gainers in Singapore today.

Malaysia's index was up 0.2 percent, with gaming group Genting (GENT.KL) rising 1.7 percent as rising tourists numbers in Singapore pointed to better Casino earnings.

Property Companys led the PSI higher in The Philippines as the index rose for the fourth day, adding 0.3

percent to its highest in 25 months, amid increased optimism about the economy. Ayala Groups companies expect a huge leap in sales as data showed the economy was growing.

Vietnam's index was up 0.4 percent, led by a Vietcombank up 3 percent and a 3.3 percent rise in insurer Baoviet both suffered heavy losses earlier in the week, Vietnam's economy is expected to grow 5.83 percent in the first quarter from a year earlier.

Global Market Indexes
Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11936.78
-21.33 (-0.18%)
+34.89%
Mar 26, 4:00pm
flag
Mexican Bolsa IPC Index
33159.11
-5.22 (-0.02%)
+63.81%
Mar 26, 4:00pm
flag
Brazil Bovespa Index
68634.33
+192.67 (0.28%)
+65.48%
Mar 26, 4:00pm
flag
Argentina Merval Index
2399.13
-10.81 (-0.45%)
+113.34%
Mar 26, 4:00pm
flag
Chile IPSA Index
3749.11
-9.28 (-0.25%)
+47.66%
Mar 26, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10996.37
+167.52 (1.55%)
+29.55%
Mar 26, 4:00pm
flag
ASX All Ordinaries
4905.20
+8.90 (0.18%)
+39.46%
Mar 26, 4:00pm
flag
Seoul Composite
1697.72
+9.33 (0.55%)
+38.96%
Mar 26, 4:00pm
flag
Hong Kong Hang Seng
21053.11
+274.56 (1.32%)
+51.35%
Mar 26, 4:00pm
flag
Shanghai
3059.72
+40.54 (1.34%)
+30.85%
Mar 26, 4:00pm
flag
Taiwan Weighted
7876.86
+38.76 (0.49%)
+50.26%
Mar 26, 4:00pm
flag
Singapore Straits Times
2906.28
+17.91 (0.62%)
+70.32%
Mar 26, 4:00pm
flag
Bombay Sensex Index
17644.76
+85.91 (0.49%)
+86.30%
Mar 26, 4:00pm
flag
Jakarta Composite
2813.08
+13.93 (0.50%)
+95.88%
Mar 26, 4:00pm
flag
Kuala Lumpur Composite
1315.14
+2.66 (0.20%)
+49.80%
Mar 26, 4:00pm
flag
PSE Composite
3180.68
+9.54 (0.30%)
+65.86%
Mar 26, 4:00pm
flag
Sri Lanka All Share
3773.76
+43.33 (1.16%)
+132.16%
Mar 26, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5703.02
-24.63 (-0.43%)
+45.80%
Mar 26, 4:00pm
flag
Paris CAC 40
3988.93
-11.55 (-0.29%)
+38.77%
Mar 26, 4:00pm
flag
Frankfurt Index
6120.05
-12.90 (-0.21%)
+46.16%
Mar 26, 4:00pm
flag
Milan BCI General
15743.00
+0.00 (0.00%)
+23.87%
Mar 25, 5:30pm
flag
Belgium 20 Index
2656.93
-15.17 (-0.57%)
+51.89%
Mar 26, 4:00pm
flag
Swiss Market Index
6838.95
-55.22 (-0.80%)
+38.90%
Mar 26, 4:00pm
flag
OSE Norway All Share
421.50
-3.40 (-0.80%)
+55.56%
Mar 26, 4:00pm
flag
ATX Vienna
2630.32
+1.46 (0.06%)
+60.88%
Mar 26, 4:00pm
flag
Amsterdam Total Return General
343.81
-1.80 (-0.52%)
+55.24%
Mar 26, 4:00pm
flag
Madrid General
1144.03
-1.87 (-0.16%)
+36.17%
Mar 26, 4:00pm
flag
Stockholm General Index
326.18
-1.10 (-0.34%)
+62.86%
Mar 26, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1160.86
+0.00 (0.00%)
+83.48%
Mar 26, 4:36am
flag
TEL-TECH INDEX
325.66
+0.00 (0.00%)
+92.22%
Mar 26, 3:15am
flag
TEL-TECH-15 INDEX
282.53
+0.00 (0.00%)
+82.36%
Mar 26, 3:15am

 

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