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ASEAN STOCK WATCH 18 May 2010

ASEAN Markets to Trade Higher

Shayne Heffernan
www.livetradingnews.com

All ASEAN markets fell Monday over eurozone worries, in Thailand stocks dived to a one-month low after at least 37 people were killed in violent protests in Bangkok. Today we should see the start of a srtong recovery that will follow on from a turn in Wall St Trading.

On Wall St stocks erased losses, with the Dow Jones Industrial Average reversing a 184-point drop, as the euro’s rebound from a four-year low bolstered optimism that the shared European currency will weather the region’s debt crisis.

The Standard & Poors’ 500 Index rose less than 0.1 percent to 1,136.13 at 3:42 p.m. in New York. The Dow average fell 1.82 points, or less than 0.1 percent, to 10,618.34. The euro gained 0.3 percent to $1.2397 after tumbling as much as 1 percent earlier to $1.2235.

The combination of problems sent the SET index to its lowest point since April 20. The market fell more than 3.1 percent in early trade, but bargain hunters helped recoup some losses as investors priced in the unrest. Sentiment was depressed by external and domestic factors. Based on the political unrest, the index could fall further an appeoachthe previous low of 720 would be a strong buy indicator.

Energy firm PTT (PTT) fell 2.4 percent and Siam Commercial Bank lost 3.6 percent.

Singapore dropped 0.75 percent to a one-week low as Oversea Chinese Banking Corp (OCBC) fell 0.1 percent and the country’s biggest telephone firm Singapore Telecom (STEL) slid 1.7 percent.

Jakarta, the star performer of ASEAN markets so far this year, fell led by mines shares with 5 percent fall in top minor Bumi Resources (BUMI).

Malaysia was 0.4 percent lower with planter IOI Corp. (IOIB) and telecoms firm Axiata Group (AXIA) falling over 1.8 percent.

Manila, which hit a 16-month high the previous session, fell due to a technical correction along with the euro zone debt worries, analysts said. It climbed 6 percent last week amid optimism after the country’s presidential election. Among losers on Monday, Ayala Land (ALI) lost 5.2 percent and Energy Development Corp. (EDC) fell 3.8 percent.

In Hanoi, 3.1 percent fall in Vietcom Bank VIC.HM and 4.7 percent slip in PVFC PVF drove the index 1.8 percent down to its lowest since April 2.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
12,014.97
-101.62 (-0.84%)
+21.99%
May 17, 4:00pm
flag
Mexican Bolsa IPC Index
31,812.73
-529.70 (-1.64%)
+35.92%
May 17, 4:00pm
flag
Brazil Bovespa Index
62,579.04
-832.96 (-1.31%)
+26.56%
May 17, 4:00pm
flag
Argentina Merval Index
2,212.87
-67.63 (-2.97%)
+52.80%
May 17, 4:00pm
flag
Chile IPSA Index
3,839.42
-33.06 (-0.85%)
+31.54%
May 17, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,235.76
-226.75 (-2.17%)
+12.56%
May 17, 4:00pm
flag
ASX All Ordinaries
4,500.70
-142.30 (-3.06%)
+21.29%
May 17, 4:00pm
flag
Seoul Composite
1,695.63
+1.05 (0.06%)
+22.79%
May 17, 4:00pm
flag
Hong Kong Hang Seng
19,715.20
-430.23 (-2.14%)
+19.18%
May 17, 4:00pm
flag
Shanghai
2,559.93
-136.70 (-5.07%)
-3.03%
May 17, 4:00pm
flag
Taiwan Weighted
7,772.13
+1.56 (0.02%)
+22.12%
May 17, 4:00pm
flag
Singapore Straits Times
2,833.69
-21.52 (-0.75%)
+33.53%
May 17, 4:00pm
flag
Bombay Sensex Index
16,994.60
-271.27 (-1.57%)
+43.14%
May 17, 4:00pm
flag
Jakarta Composite
2,858.39
+0.00 (0.00%)
+60.13%
May 17, 4:00pm
flag
Kuala Lumpur Composite
1,334.27
-5.03 (-0.38%)
+31.85%
May 17, 4:00pm
flag
PSE Composite
3,289.31
-41.11 (-1.23%)
+45.27%
May 17, 4:00pm
flag
Sri Lanka All Share
4,252.44
+9.77 (0.23%)
+125.66%
May 17, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,262.54
-0.36 (-0.01%)
+20.63%
May 17, 4:00pm
flag
Paris CAC 40
3,543.55
-16.81 (-0.47%)
+12.27%
May 17, 4:00pm
flag
Frankfurt Index
6,066.92
+10.21 (0.17%)
+28.04%
May 17, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+3.03%
May 17, 4:00pm
flag
Belgium 20 Index
2,439.07
-8.10 (-0.33%)
+23.29%
May 17, 4:00pm
flag
Swiss Market Index
6,428.86
+0.16 (0.00%)
+19.94%
May 17, 4:00pm
flag
OSE Norway All Share
412.82
+0.00 (0.00%)
+28.39%
May 17, 4:00pm
flag
ATX Vienna
2,454.87
-25.03 (-1.01%)
+26.39%
May 17, 4:00pm
flag
Amsterdam Total Return General
326.57
-0.67 (-0.20%)
+31.14%
May 17, 4:00pm
flag
Madrid General
963.45
-68.31 (-6.62%)
+3.45%
May 17, 4:00pm
flag
Stockholm General Index
311.60
+0.98 (0.32%)
+31.32%
May 17, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,053.43
+3.18 (0.30%)
+39.84%
May 17, 10:45am
flag
TEL-TECH INDEX
282.60
-0.98 (-0.35%)
+50.89%
May 17, 10:45am
flag
TEL-TECH-15 INDEX
242.94
-1.35 (-0.55%)
+42.74%
May 17, 10:45am

 


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