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ASEAN STOCK WATCH 30 March 2010

Shayne Heffernan
www.livetradingnews.com

A mixed day on ASEAN Markets as Indonesia’s stock market closed Monday led by bank shares as they fell due to profit-taking, Thailand also fell for a third session after a strong start to 2010. Singapore and Malaysia posting gains while the Philippines and Vietnam were unchanged.

The Jakarta index has risen 10 percent this year, bolstered by an inflow of funds as Standard & Poor’s raised Indonesia’s sovereign debt ratings and after companies such as PT Bank Mandiri reported better-than-expected earnings. Overseas investors bought a net 5.2 trillion rupiah ($572 million) of Indonesian stocks so far this month after being net sellers of 1.6 trillion rupiah in the previous two months.

Publicly traded companies have to report their financial results by March 31 and Shayne Heffernan of Ebeling Heffernan have raised his rating on the nations economy to outperform.

Indonesia’s stock index, one of ASEAN’s best performer this year, may extend gains after rising to a two-year high as the measure stays above its moving- average, a sign that the rally is sustainable.

The Jakarta Composite index is trading above its 50-day moving average of 2,618 even as the gauge posted its first drop in five days. The measure fell 0.6 percent to 2,795.89 as of 10:27 a.m. local time.

“Indonesia is going to emerge once again as a major economy very soon” said Shayne Heffernan of Ebeling Heffernan.

Indonesia ended down 0.65 percent at 2,794.77, after gains of about 4 percent over the previous four sessions to 2,813.08, which took the market within sight of the record high of 2,838.476 hit on Jan. 14, 2008. However, Jakarta is expected to forge ahead as the economy recovers and international investors return. Shayne Heffernan expects the index to rise rally 14 percent to 3,200 by the end of 2010.

Listed companies in Indonesia are trading at 14.31 times estimated 2011 earnings, cheaper than Malaysia’s 15.55 but pricey against the Philippines’ 13.16 and Thailand’s 11.43.

Thailand’s SET index fell nearly 1 percent, adding to a fall of almost 1 percent in the previous two sessionseconomic forecast, with the Finance Ministry raising its forecast for 2010 economic growth to 4.5 percent from 3.5 percent. Foreign investors bought a net 329 million baht of Thai equities in the session, adding to purchases of nearly 47 billion baht ($1.45 billion) since Feb.22.

Singapore’s index STI rose for a third day, adding 0.8 percent, led by big caps and banking stocks. Singapore Telecoms rose 2.2 percent, Oversea Chinese Banking Corp gained 1.3 percent and United Overseas Bank climbed 1 percent.

In Kuala Lumpur, the index extended its gains into a fifth session, finishing 0.3 percent higher, led by Malayan Banking and Axiata Group, which rose about 1percent each.

In Manila, late buying reduced some early losses but traders expected thin volume in the next two days ahead of the Easter holidays. Valuations remained attractive and the market should broadly hold up ahead of elections on May 10.

In Vietnam, the largest technology firm, FPT Corp rose 1.8 percent while insurer Baoviet BVH fell nearly 3 percent.


Global Market Indexes 

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12005.69
+48.32 (0.40%)
+36.10%
Mar 29, 2:00pm
flag
Mexican Bolsa IPC Index
33269.68
+105.35 (0.32%)
+63.77%
Mar 29, 2:00pm
flag
Brazil Bovespa Index
69685.89
+1003.23 (1.46%)
+66.29%
Mar 29, 2:00pm
flag
Argentina Merval Index
2414.30
+11.85 (0.49%)
+107.19%
Mar 29, 2:00pm
flag
Chile IPSA Index
3753.52
-4.87 (-0.13%)
+47.33%
Mar 29, 2:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10986.47
-9.90 (-0.09%)
+27.35%
Mar 29, 2:00pm
flag
ASX All Ordinaries
4907.20
+0.00 (0.00%)
+35.72%
Mar 29, 2:00pm
flag
Seoul Composite
1691.99
-5.73 (-0.34%)
+36.73%
Mar 29, 2:00pm
flag
Hong Kong Hang Seng
21237.43
+184.32 (0.88%)
+50.41%
Mar 29, 2:00pm
flag
Shanghai
3123.80
+64.08 (2.09%)
+31.56%
Mar 29, 2:00pm
flag
Taiwan Weighted
7947.45
+70.59 (0.90%)
+47.43%
Mar 29, 2:00pm
flag
Singapore Straits Times
2926.72
+20.44 (0.70%)
+67.66%
Mar 29, 2:00pm
flag
Bombay Sensex Index
17711.35
+66.59 (0.38%)
+76.26%
Mar 29, 2:00pm
flag
Jakarta Composite
2794.77
-18.31 (-0.65%)
+91.06%
Mar 29, 2:00pm
flag
Kuala Lumpur Composite
1319.21
+4.07 (0.31%)
+48.99%
Mar 29, 2:00pm
flag
PSE Composite
3177.56
+6.42 (0.20%)
+55.74%
Mar 29, 2:00pm
flag
Sri Lanka All Share
3773.76
+43.33 (1.16%)
+128.93%
Mar 29, 2:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5710.66
+7.64 (0.13%)
+46.47%
Mar 29, 2:00pm
flag
Paris CAC 40
4000.66
+11.73 (0.29%)
+40.84%
Mar 29, 2:00pm
flag
Frankfurt Index
6156.85
+36.80 (0.60%)
+46.47%
Mar 29, 2:00pm
flag
Milan BCI General
15743.00
+0.00 (0.00%)
+20.03%
Mar 28, 5:30pm
flag
Belgium 20 Index
2665.40
+8.47 (0.32%)
+52.17%
Mar 29, 2:00pm
flag
Swiss Market Index
6850.58
+11.63 (0.17%)
+40.60%
Mar 29, 2:00pm
flag
OSE Norway All Share
422.51
+1.00 (0.24%)
+53.46%
Mar 29, 2:00pm
flag
ATX Vienna
2650.05
+21.19 (0.81%)
+56.73%
Mar 29, 2:00pm
flag
Amsterdam Total Return General
343.96
+0.15 (0.04%)
+55.13%
Mar 29, 2:00pm
flag
Madrid General
1145.66
+1.63 (0.14%)
+37.63%
Mar 29, 2:00pm
flag
Stockholm General Index
326.16
-0.01 (-0.00%)
+61.92%
Mar 29, 2:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1160.94
+0.00 (0.00%)
+76.44%
Mar 29, 3:36am
flag
TEL-TECH INDEX
326.42
+0.00 (0.00%)
+85.66%
Mar 29, 2:15am
flag
TEL-TECH-15 INDEX
283.15
+0.00 (0.00%)
+76.14%
Mar 29, 2:15am

 

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