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ASEAN STOCK WATCH 12 May 2010

ASEAN Stock Outlook

Shayne Heffernan
www.livetradingnews.com

The MSCI index of Asian stocks excluding Japan was down 1.3 percent as ASEAN markets traded mixed after a strong USA rally. US futures traded lower for the day however the market rallied after open indicating a strong uptick in ASEAN markets today.

Thai protesters refused to call off a crippling demonstration and the government said it had done all it could to reach a deal, dashing hopes for a swift end to a crisis that has stifled the economy.

Foreign selling helped pull the market lower as political uncertainty lingered.Foreign investors sold a net 900 million baht ($27.89 million) in the morning session, dealers said, adding to their net outflows over the past four sessions of 14.5 billion baht.

Thailand is trading at forward price to earnings of 10.7 times, compared with Singapore’s 13.1, Malaysia’s 13.3, Indonesia’s 13.4, Philippines’ 12 and Vietnam’s 11.8 and represents a strong buying opportunities according to Ebeling Heffernan.

The Manila market welcomed the emergence of Benigno Aquino as a clear leader in vote counting and looked forward to a period of political stability plus efforts to tackle a large budget deficit.

But foreign investors who had bought ahead of the election took profits today. With all of this election news already behind us, now the market will follow developments abroad.

Philippine shares hit a one-week high on Tuesday after the country’s presidential election, while other ASEAN markets ended mostly lower amid questions about a $1 trillion euro-zone debt-crisis package.

Indonesia had surged over 4 percent in the previous session but was brought down by banking shares, with a 4.6 percent fall in top lender Bank Mandiri (BMRI) and one of 2.3 percent in Bank Rakyat Indonesia BBRI.

Singapore fell almost 1% and is expected to be a strong performer for the rest of the week.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12,033.68
+85.78 (0.72%)
+19.21%
May 11, 3:00pm
flag
Mexican Bolsa IPC Index
32,139.89
-137.03 (-0.42%)
+34.23%
May 11, 3:00pm
flag
Brazil Bovespa Index
64,868.74
-583.94 (-0.89%)
+27.25%
May 11, 3:00pm
flag
Argentina Merval Index
2,297.27
-17.67 (-0.76%)
+51.92%
May 11, 3:00pm
flag
Chile IPSA Index
3,859.02
+8.02 (0.21%)
+31.91%
May 11, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,411.10
-119.60 (-1.14%)
+10.15%
May 11, 3:00pm
flag
ASX All Ordinaries
4,573.20
+0.00 (0.00%)
+16.95%
May 11, 3:00pm
flag
Seoul Composite
1,670.24
-7.39 (-0.44%)
+18.02%
May 11, 3:00pm
flag
Hong Kong Hang Seng
20,146.51
-280.13 (-1.37%)
+17.90%
May 11, 3:00pm
flag
Shanghai
2,647.57
-51.18 (-1.90%)
+2.63%
May 11, 3:00pm
flag
Taiwan Weighted
7,608.44
-56.29 (-0.73%)
+14.46%
May 11, 3:00pm
flag
Singapore Straits Times
2,857.67
-22.81 (-0.79%)
+31.93%
May 11, 3:00pm
flag
Bombay Sensex Index
17,141.53
-189.02 (-1.09%)
+46.72%
May 11, 3:00pm
flag
Jakarta Composite
2,812.89
-37.54 (-1.32%)
+53.65%
May 11, 3:00pm
flag
Kuala Lumpur Composite
1,340.72
+6.75 (0.51%)
+30.74%
May 11, 3:00pm
flag
PSE Composite
3,262.93
+120.87 (3.85%)
+44.02%
May 11, 3:00pm
flag
Sri Lanka All Share
4,215.22
-6.82 (-0.16%)
+121.84%
May 11, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,334.21
-53.21 (-0.99%)
+20.26%
May 11, 3:00pm
flag
Paris CAC 40
3,693.20
-27.09 (-0.73%)
+13.68%
May 11, 3:00pm
flag
Frankfurt Index
6,037.71
+19.80 (0.33%)
+24.06%
May 11, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
-0.54%
May 10, 5:30pm
flag
Belgium 20 Index
2,483.53
+186.72 (8.13%)
+19.08%
May 11, 3:00pm
flag
Swiss Market Index
6,509.00
+27.05 (0.42%)
+21.46%
May 11, 3:00pm
flag
OSE Norway All Share
417.61
-1.99 (-0.47%)
+28.08%
May 11, 3:00pm
flag
ATX Vienna
2,469.27
-52.87 (-2.10%)
+19.45%
May 11, 3:00pm
flag
Amsterdam Total Return General
333.48
-1.76 (-0.52%)
+30.03%
May 11, 3:00pm
flag
Madrid General
1,108.53
+0.00 (0.00%)
+14.77%
May 10, 5:30pm
flag
Stockholm General Index
312.10
-3.55 (-1.12%)
+27.29%
May 11, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,074.18
-19.68 (-1.80%)
+37.54%
May 11, 10:45am
flag
TEL-TECH INDEX
292.53
-6.29 (-2.10%)
+47.65%
May 11, 10:45am
flag
TEL-TECH-15 INDEX
252.16
-7.44 (-2.87%)
+40.03%
May 11, 10:45am

 


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