ASEAN KEY DESTINATIONS
Asean Stock Watch-May 18
At 9.30am on Wednesday, there were 204 gainers, 119 losers and 169 counters traded unchanged on the Bursa Malaysia.
The FBM-KLCI was up 6.54 points to 1,542.81 at 9.30am, the FBMACE was up 6.72 points to 4,329.34 and the FBMEmas was up 45.58 points to 10,627.59. There were 204 gainers, 119 losers and 169 counters traded unchanged on the Bursa Malaysia. Turnover was at 131.994 million shares valued at RM207.025m.
Philippine share prices on Tuesday closed lower, tracking the weakness in Wall Street and other major markets.
At the Philippine Stock Exchange, the composite index lost 39.21 points, or 0.91 percent to 4,261.60, while the broader all-shares index fell 19.97 points, or 0.67 percent to 2,983.63. A total of 6.70 billion stocks worth P4.57 billion changed hands.
Decliners beat advancers, 89 to 53, while 37 stocks were unchanged.
“Investors groped for form on the back of mixed news from Europe and the US, reflecting on equity markets in both continents’ results,” said Jun Calaycay of Accord Capital Equities Corp. The Dow Jones industrial average declined 47.38 points, or 0.38 percent, to close at 12,548.37 on the back of a weak manufacturing data and concerns on the eurozone debt crisis.
The main index traded above the psychological 4,300-line through the first three minutes. In the absence of fresh leads and weighed down by the weakness in global bourses, sellers dominated the market to send prices lower.
Technical indicators point to a further slide in the next couple of session with poor earnings from Jollibee Foods Corp. and GMA Network Inc. raising concerns over incoming data from other listed firms.
The main index is expected to test the 4,250 support level with resistance at the 4,290 to 4,300 range.
The peso moved sideways on Tuesday after early losses amid mix signals from offshore markets, traders said.
At the Philippine Dealing System, the local unit gained 5 centavos to close at 43.285 from Monday’s 43.290.
The peso-dollar pair opened at 43.35 and further weakened to reach a high of 43.39 and a low of 43.25.
Total trading volume eased to $748.8 million from $940.9 million the previous trading day. “Asian markets are set to soften as investors turn more cautious amid an uncertain growth outlook,” a trader said.
The currency pair is expected to trade at the 43 to 43.60 range within the week.
Singapore shares opened lower on Wednesday, with the benchmark Straits Times Index at 3,126.10 in early trade, down 0.33 per cent, or 10.38 points.
Around 66 million shares exchanged hands.
Gainers beat losers 58 to 5.
Thai composite stocks index opened on Wednesday at 1,076.42, down 8.54 points, or 0.79 per cent. Blue chip SET-50 index was at 756.63, down 7.41 points, or 0.97 per cent.
Top five active (value) stocks: CPF, PTT, BANPU, JAS, TRUE.
Comment on this Article. Send them to email@example.com
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below