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ASEAN STOCK WATCH 14 May 2010

ASEAN Markets to Retreat

Shayne Heffernan
www.livetradingnews.com

ASEAN stocks were at new highs yesterday after new steps by Portugal and Spain raised hopes that Europe’s debt crisis can be contained. However afte a shakey night on Wall St Asean markets will give back some of those gains at open today.

Investors will continue to shun the Thailand Stock Exchange listed equities despite their cheap valuation, which is one of the greatest buying opportunities in history. After the deaths and instability seen in the last 2 days the Thai stocks are set to trade under their one week low at open today. ASEAN’s second-worst performer trades at just 10.6 times forward price to earnings, by far the cheapest in this dynamic region.

Investors exited blue chips late in the session while foreign investors cashed out a net 1.5 billion baht ($46.50 million) in the morning session, dealers said, adding to a 18.9 billion baht net outflows in the past six sessions.

Thai stocks traded at their lowest in nearly one week on Thursday after Abhisit commenced tougher action to end anti-government protests.

Shares in Kuala Lumpur were higher before the release of first-quarter GDP growth which expanded by 10.1 percent in the quarter from a year ago, its fastest pace in 10 years, signalling that recovery is firmly on track for the trade-dependent Southeast Asian country.

Berjaya Corp (BGRO) jumped 7.8 percent after company said it will buy from its major shareholder a 70 percent stake in a sports betting operator.

Maybank (MBBM) shares were up 1.6 percent before it announced, after the market closed, a better-than-expected third-quarter net profit.

Indonesia, ASEAN’s best performing bourse which had gained 12.36 percent so far this year, was shut on the market holiday.

The Philippines rose 1.8 percent, extending its gain for a third day after the country’s presidential election. Despite the climb, it had a foreign net outflow of $14.5 million for the session.

Singapore lost 0.43 percent after earlier small gain, losses were led by a 1 percent drop in Singapore Telecommunications (STEL) after ASEAN’s biggest telco warned of lower earnings from Singapore and India in the coming year having beat expectations with a 6.6 percent rise in quarterly profit.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12,195.97
+195.36 (1.63%)
+20.82%
May 13, 4:00pm
flag
Mexican Bolsa IPC Index
32,379.63
+260.52 (0.81%)
+35.24%
May 13, 4:00pm
flag
Brazil Bovespa Index
64,795.11
-428.89 (-0.66%)
+27.11%
May 13, 4:00pm
flag
Argentina Merval Index
2,300.50
+10.87 (0.47%)
+52.14%
May 13, 4:00pm
flag
Chile IPSA Index
3,890.05
+31.88 (0.83%)
+32.97%
May 13, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,620.55
+226.52 (2.18%)
+12.36%
May 13, 4:00pm
flag
ASX All Ordinaries
4,679.50
+79.80 (1.73%)
+19.67%
May 13, 4:00pm
flag
Seoul Composite
1,663.03
-7.21 (-0.43%)
+17.52%
May 13, 4:00pm
flag
Hong Kong Hang Seng
20,422.46
+209.97 (1.04%)
+19.51%
May 13, 4:00pm
flag
Shanghai
2,710.51
+54.80 (2.06%)
+5.07%
May 13, 4:00pm
flag
Taiwan Weighted
7,602.70
-5.74 (-0.08%)
+14.37%
May 13, 4:00pm
flag
Singapore Straits Times
2,867.92
-12.41 (-0.43%)
+32.40%
May 13, 4:00pm
flag
Bombay Sensex Index
17,195.81
+54.28 (0.32%)
+47.19%
May 13, 4:00pm
flag
Jakarta Composite
2,847.62
+34.73 (1.23%)
+55.54%
May 13, 4:00pm
flag
Kuala Lumpur Composite
1,346.92
+2.82 (0.21%)
+31.34%
May 13, 4:00pm
flag
PSE Composite
3,327.69
+58.28 (1.78%)
+46.88%
May 13, 4:00pm
flag
Sri Lanka All Share
4,229.40
+14.18 (0.34%)
+122.59%
May 13, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,433.73
+50.23 (0.93%)
+22.51%
May 13, 4:00pm
flag
Paris CAC 40
3,731.54
-2.33 (-0.06%)
+14.86%
May 13, 4:00pm
flag
Frankfurt Index
6,251.97
+68.48 (1.11%)
+28.46%
May 13, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
-0.54%
May 13, 4:00pm
flag
Belgium 20 Index
2,534.85
-5.51 (-0.22%)
+21.54%
May 13, 4:00pm
flag
Swiss Market Index
6,575.05
+0.00 (0.00%)
+22.69%
May 13, 4:00pm
flag
OSE Norway All Share
425.20
+0.00 (0.00%)
+30.41%
May 13, 4:00pm
flag
ATX Vienna
2,555.29
+0.00 (0.00%)
+23.61%
May 13, 4:00pm
flag
Amsterdam Total Return General
337.80
+0.90 (0.27%)
+31.71%
May 13, 4:00pm
flag
Madrid General
1,043.75
+8.84 (0.85%)
+8.06%
May 13, 4:00pm
flag
Stockholm General Index
317.62
+0.00 (0.00%)
+29.54%
May 13, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,080.32
-9.50 (-0.87%)
+42.25%
May 13, 10:45am
flag
TEL-TECH INDEX
295.35
-3.14 (-1.05%)
+53.67%
May 13, 10:45am
flag
TEL-TECH-15 INDEX
253.79
-3.90 (-1.51%)
+45.25%
May 13, 10:45am

 


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