Malaysia, Thailand and Indonesia will be shut on Friday for holidays. more
Wall St had a
sharp downward turn and began trading in the red late Wednesday, despite
some improving economic signals offered in the morning and following
several sessions that found European sovereign debt concerns prompting a
global selloff earlier this week.
fell to multi-week lows on Tuesday due to worries overthe euro zone debt
crisis and tension on the Korean peninsula combined with new USA
uncertainty over the Wall St reform bill.
Pressure from falling USA and European markets will have a negative impact today in ASEAN, however the local news is good, China is staging a strong rebound, Thailand is finished and the energy sector around the region is recapitalizing. Expect a flat to lower day in ASEAN today. more
investors have been taking money out of Thai equities. But the total net
withdrawal of about $1bn is still short of the $1.2bn that came into
Thailand in the first four months. By comparison, nearly $5bn net was
taken out during 2008 as the global financial crisis struck.
As we suggested
yesterday major ASEAN markets fell on Thursday as worries over euro zone
further soured appetite for risk. Over night the Wall St market fell
hard, at one point the Dow was down
gunfights in the streets of Bangkok, M79 grenades exploding and the
stock exchange on fire, Thailand might be the last place for investors
to want to put their money. The market will not open today and it is
possible they will be closed for a little longer, but when the do open
it is worthwhile buying.
were thin in all of the six ASEAN markets and well below the 90-day
average. Investors have many concerns now and caution dominates. Poorly
managed European debt crisis and the USA about to pass yet more
legislation on banks and financial institutions even though they are not
capable of enforcing the current regulations, all have investors
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.
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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
Exchange ended with modest gains after the government said it would step
up efforts to end the Red Shirts protests.
The MSCI index
of Asian stocks excluding Japan was down 1.3 percent as ASEAN markets
traded mixed after a strong USA rally. US futures traded lower for the
day however the market rallied after open indicating a strong uptick in
ASEAN markets today.
rallied well after news of a new extended plan put together by the
European Union and the International Monetary Fund to prevent a
sovereign debt crisis from spreading. After solid overnight gains on
Wall St, ASEAN markets are set to post another strong day.
Thailand hit a
one week low and looks to go lower on Monday after markets around the
world suffered a strong retracement. Local politics did not seem to add
to much pressure to the selling as Thailand is one of the world’s most
undervalued stock exchanges.
A huge amount of
pressure will fall on ASEAN markets today as the Dow dropped 1000
points intra day in New York trading
Listed Thai companies now trade at just 11.1 times estimated 2010
earnings, compared with 13.5 for Malaysia, 12.5 for Indonesia and 12.1
for the Philippines. Today they are set to become even cheaper and are
well worth buying. more
More falls on Wall St will see ASEAN Markets open lower today,
but get in quick the markets should reverse in the afternoon session.
Solid USA data on the economy will come out this week including a jobs
report on Friday that will certainly lift markets for the rest of the
A savage downturn on
Wall St overnight will pressure stocks
around ASEAN today with the exception of Thailand that will be riding
high on an end to a lengthy political impasse.
US Markets bounced
back today and that is certain to see good
gains in ASEAN Markets today, even Thailand looks set to rally. US
stocks rallied after a slump last week, as upbeat reports on consumer
spending, manufacturing and the auto sales led to big gains for
May 1, 2010
fell in the US on Friday as the market weighed first-quarter economic
growth of 3.2% and sought more clarity on financial regulation
legislation currently being debated in Washington. The falls will be
reflected in ASEAN trading on Monday presenting another good day to buy
quality stocks in the region.
Indonesian shares closed higher by 44.392 points, or 1.51 percent, to a
level of 2,971.252 points on Friday. more