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The FTSE Straits Times Index (STI) ended +10.75 points higher or +0.31% higher to 3,452.28, taking the year-to-date performance to +9.01%.
The FTSE ST Mid Cap Index declined -0.22% while the FTSE ST Small Cap Index gained +0.07%.
The top active stocks were Singtel (+0.25%), DBS (-0.58%), GLP (+2.08%), THBev (-1.48%), and GoldenAgr (unchanged).
The outperforming sectors today were represented by the FTSE ST Industrials which gained +1.79%. The two biggest stocks of the Industrials Index are Jardine Matheson Holdings (+3.36%) and Jardine Strategic Holdings (+2.73%). The underperforming sector, FTSE ST Utilities, declined -0.91% with Gallant Venture declining -1.64% and Hyflux declining -1.42%. The FTSE ST Real Estate Index declined -0.23% and the FTSE ST Consumer Services gained +0.42%.
The three most active Exchange Traded Funds (ETFs) by value today were SPDR GOLD SHARES (-2.77%), IS MSCI INDIA 100 (+0.31%) and STI ETF (unchanged).
The three most active Real Estate Investment Trusts (REITs) by value were SuntecReit (-1.32%), CapitaMall (unchanged) and Kep REIT (+4.55%).
The most active index warrants by value today were HSI23000MBePW130627 (-0.69%), HSI22400MBeCW130627 (+0.78%) and HSI23200MBeCW130627 (+2.60%).
The most active stock warrants by value today were DBS MB eCW131001 (-5.33%), DBS MB ePW130909 (+5.19%), and DBS BP eCW130702 (-23.53%).
The Stock Exchange of Thailand main index went down 12.20 points, or 0.75%, to close at 1,617.89 points at the end of trading session this afternoon. The trade value was 56.76 billion baht, with 11.58 billion shares traded.
The SET50 index ended at 1,072.89 points, down 8.24 points, or 0.76%, with a total trade value of 30.56 billion baht.
The SET100 index fell 18.94 points, or 0.78%, to stand at 2,394.79 points, with a total turnover of 40.06 billion baht.
The SETHD index went down 13.38 points, or 1.05%, to stand at 1,266.51 points, with total trade value of 7.87 billion baht.
The MAI index dropped 0.93 point, or 0.19%, to close at 489.40 points, with total transaction value of 2.80 billion baht.
Top five most active values were as follows;
INTUCH stood at 90.25 baht, up 2.25 baht (2.56%)
TRUE stood at 9.60 baht, up 0.25 baht (2.67%)
CHG stood at 8.70 baht, up 2.40 baht (38.10%)
ADVANC stood at 285.00 baht, unchanged
CPALL stood at 43.00 baht, unchanged
Wellcall Holdings Bhd's earnings fell 10.5% to RM4.93mil in the second quarter ended March 31, 2013 from RM5.51mil a year ago on lower demand for its industrial rubber hose products and it was cautious about the global outlook.
It said on Thursday its revenue fell at a bigger margin of 18.1% to RM30.56mil from RM37.34mil. Exports accounted for 92.1% of revenue while the local market made up the remaining 7.9%.
Wellcall said while the export market recorded a 20.6% decline, the local market showed a 36.1% increase.
Earnings per share were 3.72 sen. It declared an interim dividend of four sen a share.
For the first half ended March 31, 2013, its net profit declined 9.4% to RM10.14mil from RM11.23mil in the previous corresponding period. Its revenue fell 20.8% to RM62.29mil from RM78.69mil.
Despite remaining profitable, the company said the global economy remains challenging and uncertain but it would focus on leveraging on its extensive customer network and competitive products.
The group was also expected to invest in production automation and research to improve its productivity in line with its plan to decrease dependence on manual labour.
The peso fell on Thursday following the release of reports that the euro zone contracted in the first quarter and that industrial production in the United States fell in April.
The local currency closed at 41.225 against the US dollar, down by 2.5 centavos from the previous day’s finish of 41.20:$1.
Intraday high hit 41.15:$1, while intraday low settled at 41.24:$1.
Volume of trade amounted to $895.6 million from $934.6 million previously.
The depreciation of the peso came following the release of unfavorable economic indicators for two of the world’s biggest economies.
The euro zone was reported to have contracted by 0.2 percent in the first quarter of 2013 from the fourth quarter of 2012.
Moreover, industrial production in the United States fell by 0.5 percent in April from a year ago.
Market players said the discouraging data dampened hopes that the global economy would post a more substantial recovery in 2013.
Economic challenges in the United States and the Euro zone likewise are seen to somehow adversely affect performance of emerging markets like the Philippines.
The United States and Euro zone are two of the biggest export markets for Asian-made goods.
Tokyo fell 0.39 percent, or 58.79 points, to 15,037.24, Sydney dropped 0.50 percent, or 26 points, to 5,165.7, while Seoul rose 0.79 percent, or 15.55 points, to 1,986.81.
In Hong Kong, shares climbed 0.17 percent, or 38.44 points, to 23,082.68 while Shanghai gained 1.21 percent, or 27.01 points, to 2,251.81.
– Taipei rose 0.86 percent, or 71.46 points, to 8,390.05.
Hon Hai rose 0.64 percent to Tw$78.7 while TSMC fell 1.3 percent to Tw$113.5.
– Wellington fell 0.22 percent, or 10.30 points, to 4,636.03.
Telecom Corp. dropped 2.67 percent to NZ$2.55 while Fletcher Building slipped 0.23 percent to NZ$8.68.
– Manila fell 1.10 percent, or 81.26 points, to 7,310.94.
Metropolitan Bank lost 1.81 percent to 136 pesos while Megaworld Corp. fell 3.10 percent to 4.06 pesos.
– Jakarta ended down 0.22 percent, or 11.20 points, at 5,078.68.
Paper manufacturer Indah Kiat Pulp & Paper fell 4.32 percent to 1,550 rupiah, while cigarette maker Gudang Garam rose 1.49 percent to 54,400 rupiah.
– Kuala Lumpur fell 0.91 percent, or 16.31 points, to close at 1,766.72.
Axiata Group shed 0.6 percent to 6.91 ringgit, while Malayan Banking lost 1.2 percent to 10.02. Astro Malaysia Holdings inched up 0.3 percent to 3.16 ringgit.
– Singapore climbed 0.31 percent, or 10.75 points, to 3,452.28.
Singapore Telecom was up 0.25 percent to Sg$4.0 and DBS Bank eased 0.6 percent to Sg$17.28.
– Bangkok lost 0.75 percent, or 12.20 points, to end at 1,617.89.
Airports of Thailand added 3.55 percent to 160.50 baht, while supermarket firm Big C Supercenter dropped 3.54 percent to 218 baht.
Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager/Snr Partner
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