ASEAN KEY DESTINATIONS
Asean Stock Watch-May 19
The Dow Jones industrial average lost 68.79 points, or 0.5 percent, to 12,479.58, dragged by the lingering concerns on the US economy’s strength.
The Jakarta Composite Index joined its regional peers in rising on Wednesday, taking advantage of rising commodity prices.
The JCI gained 40.98 points, or 1.1 percent, to close at 3,840.21. About 6.4 billion shares worth Rp 5.5 trillion ($643.5 million) changed hands, with gainers beating decliners 169 to 60.
“Regional markets boosted the JCI today. Commodity prices climbed after the dollar weakened due to declining US housing data during April that was announced on Tuesday,” said Praska Putrantyo, an analyst at Infovesta Utama.
The US Commerce Department reported on Tuesday that housing starts fell 10.6 percent year-on-year to 523,000 in April.
Perusahaan Perkebunan London Sumatra Indonesia, the nation’s second-largest listed plantation firm, rose 1.1 percent to Rp 2,400. Palm oil futures gained 1.5 percent to 3,305 ringgit ($1,090) per metric ton in Kuala Lumpur.
Cellular operator XL Axiata gained 1.5 percent to Rp 6,650. It rose after it was added to MSCI Inc.’s Global Standard Indexes. Changes to MSCI’s indexes can affect share prices as managers whose funds track the measures adjust their holdings.
Holcim Indonesia, the nation’s third-largest cement producer, rose 4.9 percent to Rp 2,125. Lydia Toisuta, an analyst at CIMB-GK Securities, wrote on Wednesday that it found “value” in the company. Though the stock lags behind its peers, she said, it had more potential in terms of margins and growth.
The rupiah strengthened 0.2 percent to trade at 8,557 to the US dollar as the market closed on Wednesday. Global funds added to holdings of Indonesia’s debt assets to benefit from higher yields. Overseas investors boosted holdings of government debt by 0.9 percent from the end of April to Rp 223.37 trillion as of May 12, according to official data.
At Bursa Malaysia, decliners outpaced advancers by 229 to 211 while 253 other counters were traded unchanged.
There were 202.78 million shares done with a total turnover of RM234.59 million. Among the losers were DiGi, which lost 26 sen to RM28.6, and Hong Leong Bank, which fell 18 sen to RM11.96.
The gainers include KLK which rose 48 sen to RM21.98, KFC which was up 17 sen to RM4.10 and RHBCAP which rose 14 sen to RM9.09. Nymex crude oil in electronic trade was US$0.15 higher at US$100.25 per barrel.
Spot gold went up further by US$1.75 to US$1,498.73 per ounce.
The ringgit was quoted at 3.02 to the US dollar and 4.31 to the euro.
Philippine share prices and the peso retraced gains on Wednesday amid a rebound across Asian markets.
At the Philippine Stock Exchange, the composite index rose 41.71 points, or 0.98 percent to 4,303.31, while the broader all-shares index added 18.19 points, or 0.61 percent to 3,001.82. Advancers beat decliners, 77 to 59, while 36 stocks were unchanged. A total of 4.42 billion stocks worth P4.74 billion changed hands.
“It would have been a sluggish day for the market had Philippine Long Distance Telephone Co. not push the index higher at the last minute,” said Maria Arlysa Narciso of AB Capital Securities Inc.
“Throughout most of the trading session, the PSEi struggled to keep its position and moved flat to sideways,” Narciso said.
PLDT shares rose to P2,430 on Wednesday from P2,380 each on Tuesday.
Local shares tracked the performance of Asian stock markets, which defied the weakness in Wall Street on emerging signs of recovery in Japan.
Thai stocks opened up 5.73 points at the start of trade Thursday morning.
The Stock Exchange of Thailand main index opened at 1,081.64 points, up 5.73 points, or 0.53 percent from Wednesday’s close. The trade value was 1.28 billion baht.
The SET50 index opened at 761.11 points, up 4.16 points or 0.55 percent, with a total trade value of 630.56 million baht.
The SET100 index rose 8.98 points, or 0.54 percent, to 1,658.96 points, with a total turnover of 890.02 million baht.
The MAI index opened up 0.95 points, or 0.33 percent, to stand at 289.04 points, with total transaction value of 28.67 million baht.
Top five most active values were as follows;
SICCO stood at 6.50 baht, up 2.26 baht (53.30 percent)
JAS (NP) stood at 3.08 baht, up 0.08 baht (2.67 percent)
PTT stood at 365.00 baht, up 3.00 baht (0.83 percent)
IVL stood at 54.25 baht, up 0.25 baht (0.46 percent)
BANPU stood at 724.00 baht, up 6.00 baht (0.84 percent)
A sharp sell-off of blue chips caused the VN-Index on the HCM City Stock Exchange to surge 2.03 per- cent to 454.91 points Wednesday morning.
Some 28.5 million shares changed hands, compared to 24.1 million yesterday. Value was higher at VND537.5 billion (US$25.6 million).
In total, 169 stocks dropped in value, with just 57 gainers and 63 closing unchanged. The five biggest losers were Viet Nam Container Shipping (VSC), PetroVienam General Service (PET), Licogi 16 (LCG), Thu Duc Water Supply (TDW) and Lilama 18 (LM8).
Half of the ten biggest capitalised stocks hit their floor prices, they were insurer Bao Viet Holdings (BVH), down 5 percent to VND85,500; resort developer Vinpearlland (VPL), down 4.7 percent to VND62,000; property developer Hoang Anh Gia Lai (HAG), down 4.9 percent to VND36,800; Masan Group (MSN), down 4.5 per cent to VND107,000; and Vincom (VIC), down 4.2 percent to VND113,000.
Meanwhile, trading in Vietcombank (VCB) shares, which hit their ceiling price two days ago, slowed, gaining just 3.2 percent to close at VND31,900 this morning. However, VCB saw 2.2 million shares change hands, the biggest trade of the day.
The HNX-Index declined 0.88-per-cent this morning to finish at 78.86 points.
Volume rose to 28.7 million shares, from 24.3 million yesterday, reaching a value of VND347.6 billion ($16.6 million). Habubank (HBB) was the most actively traded share, with 2.4 million changing hands.
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