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ASEAN STOCK WATCH 21 May 2010

Can ASEAN Lead the World Markets Higher

Shayne Heffernan
www.livetradingnews.com

As we suggested yesterday major ASEAN markets fell on Thursday as worries over euro zone debt crisis further soured appetite for risk. Over night the Wall St market fell hard, at one point the Dow was down over 300pts.

With world markets heading lower now there is the possibility that a new trend may emerge today, it is actually possible that the ASEAN markets can lead the world markets higher today.

Lets look at some numbers, the China-AFTA covers a population of 1.9 billion and accounts for about 4.5 trillion U.S. dollars in trade volume. then there is the AFTA-India adds 1.1 billion people.

That is 3 billion people, in fact it is almost half of the total world popularion, in growing economies and represents a huge market for many of the USA listed companies.

Although foreign investors have reduced holding across Asia in the last few weeks, that money may find its way back into the regional economies of ASEAN very fast, the reality is where else can it go?

ASEAN contains some of the best economies in the world now, it is the safest place to be invested provided you are picking good quality investments.

So while the world situation points to a disaster on ASEAN markets today I am inclined to think that we will see a flat to up day.

Singapore fell for a third session to hit its lowest since March 1, despite data showing the economy grew more than expected in the first quarter helped by a recovery inmanufacturing.

Jakarta market opened positive on the appointment of career banker Agus Martowardojo as the country’s new finance minister and economist Anny Ratnawati as his deputy. However, the market reversed course to end at its lowest since March 17, led by mining shares with 2.2 percent fall in top miner Bumi Resources.

Malaysia fell for a fifth straight session led by 1.8 percent fall in Genting (GENT) and 3 percent slip in Telecom Malaysia.

The Philippines .PSI fell for a fourth straight session with a 0.3 percent slip, led by 1.8 percent fall in property firm Ayala Land (ALI) and 2.3 percent slip in Bank of Philippines Issland (BPI).

Vietnam, which was down for three straight sessions, closed 1.7 percent firmer after touching its lowest since February 1 during the trade on late bargain hunting.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,813.00
-201.97 (-1.68%)
+21.00%
May 18, 4:00pm
flag
Mexican Bolsa IPC Index
31,580.63
-232.10 (-0.73%)
+31.94%
May 18, 4:00pm
flag
Brazil Bovespa Index
61,016.34
-1849.66 (-2.94%)
+18.56%
May 18, 4:00pm
flag
Argentina Merval Index
2,185.92
-26.95 (-1.22%)
+43.00%
May 18, 4:00pm
flag
Chile IPSA Index
3,855.38
+15.96 (0.42%)
+26.19%
May 18, 4:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
10,242.64
+6.88 (0.07%)
+13.32%
May 18, 4:00pm
flag
ASX All Ordinaries
4,500.00
-0.70 (-0.02%)
+20.92%
May 18, 4:00pm
flag
Seoul Composite
1,651.51
-44.12 (-2.60%)
+19.10%
May 18, 4:00pm
flag
Hong Kong Hang Seng
19,944.94
+229.74 (1.17%)
+17.17%
May 18, 4:00pm
flag
Shanghai
2,594.78
+55.58 (2.19%)
-2.19%
May 18, 4:00pm
flag
Taiwan Weighted
7,598.72
-173.41 (-2.23%)
+15.52%
May 18, 4:00pm
flag
Singapore Straits Times
2,844.35
+10.66 (0.38%)
+30.66%
May 18, 4:00pm
flag
Bombay Sensex Index
16,835.56
-159.04 (-0.94%)
+17.86%
May 18, 4:00pm
flag
Jakarta Composite
2,819.47
-38.92 (-1.36%)
+56.33%
May 18, 4:00pm
flag
Kuala Lumpur Composite
1,330.17
-4.10 (-0.31%)
+31.44%
May 18, 4:00pm
flag
PSE Composite
3,265.07
-24.24 (-0.74%)
+43.24%
May 18, 4:00pm
flag
Sri Lanka All Share
4,242.49
-9.95 (-0.23%)
+108.90%
May 18, 4:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
5,307.34
+44.84 (0.85%)
+19.36%
May 18, 4:00pm
flag
Paris CAC 40
3,617.32
+73.77 (2.08%)
+11.46%
May 18, 4:00pm
flag
Frankfurt Index
6,155.93
+89.01 (1.47%)
+26.88%
May 18, 4:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
+0.23%
May 18, 4:00pm
flag
Belgium 20 Index
2,485.24
+46.17 (1.89%)
+21.25%
May 18, 4:00pm
flag
Swiss Market Index
6,470.84
+41.94 (0.65%)
+19.06%
May 18, 4:00pm
flag
OSE Norway All Share
415.13
+2.31 (0.56%)
+25.39%
May 18, 4:00pm
flag
ATX Vienna
2,501.82
+46.95 (1.91%)
+25.47%
May 18, 4:00pm
flag
Amsterdam Total Return General
331.00
+4.43 (1.36%)
+27.72%
May 18, 4:00pm
flag
Madrid General
996.12
+0.00 (0.00%)
+5.01%
May 18, 4:00pm
flag
Stockholm General Index
314.53
+2.93 (0.94%)
+28.98%
May 18, 4:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,053.43
+0.00 (0.00%)
+40.18%
May 18, 3:13am
flag
TEL-TECH INDEX
282.60
+0.00 (0.00%)
+50.30%
May 18, 2:15am
flag
TEL-TECH-15 INDEX
242.94
+0.00 (0.00%)
+41.64%
May 18, 2:15am

 


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