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ASEAN STOCK WATCH 26 May 2010

ASEAN Markets to follow World lower

Shayne Heffernan
www.livetradingnews.com

ASEAN markets 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.

Europe’s fumbling response to the Greek debt crisis and bulging deficits in other euro zone countries have unnerved markets over the past six weeks, and the Bank of Spain’s takeover of a small lender at the weekend stoked fears of a wider meltdown.

A study by Independent Credit View, a Swiss rating company, compared estimated capital needs for the end of 2011 with capital ratios reported at the end of last year. The analysts took into account the banks’ earnings estimates for this year and next, forecasts for loan and provisions growth as well as an increase in the tangible common equity ratio to 10 percent from the average of 9 percent at the end of December. The net result was a shortfall of $1.5 Trillion.

Energy and banking shares drove the market in Thailand down 3.1 percent. Top energy firm PTT (PTT) and PTT Exploration and Production PTTE were down more than 2.6 percent, while Krung Thai Bank KTB.BK fell 6.8 percent.

Selling was a reaction to international issues and not local problems.

Kuala Lumpur, the index touched its lowest since February 11 with a 3 percent fall in Malaysia’s largest lender, Maybank (MBBM.KL), and a 3.5 percent loss in financial CIMB (CIMB.KL).

In Manila, the market fell to its lowest since May 7 with foreign selling pushing market heavyweight Philippine Long Distance Telephone (PLDT) (TEL.PS) down 3.9 percent. Around 80 percent of the Philippines’ year-to-date gainshave been eroded in seven sessions, although it remains the best-performing Southeast Asian market this year after the drop in other markets since last week.

Global Markets By Region

Americas
Price
Change (%)
1 Year %
Last Updated
flag
Toronto Composite
11,521.35
+115.40 (1.01%)
+14.42%
May 25, 3:00pm
flag
Mexican Bolsa IPC Index
30,759.48
+130.33 (0.43%)
+27.11%
May 25, 3:00pm
flag
Brazil Bovespa Index
59,915.14
-343.86 (-0.57%)
+17.91%
May 25, 3:00pm
flag
Argentina Merval Index
2,123.62
+34.04 (1.63%)
+35.92%
May 25, 3:00pm
flag
Chile IPSA Index
3,774.86
+0.00 (0.00%)
+21.58%
May 25, 3:00pm

Asian Pacific
Price
Change (%)
1 Year %
Last Updated
flag
Nikkei 225 Index
9,459.89
-298.51 (-3.06%)
+1.21%
May 25, 3:00pm
flag
ASX All Ordinaries
4,286.30
-126.50 (-2.87%)
+14.75%
May 25, 3:00pm
flag
Seoul Composite
1,604.93
+0.00 (0.00%)
+14.56%
May 25, 3:00pm
flag
Hong Kong Hang Seng
18,985.50
-682.26 (-3.47%)
+10.88%
May 25, 3:00pm
flag
Shanghai
2,622.63
-20.13 (-0.76%)
+0.48%
May 25, 3:00pm
flag
Taiwan Weighted
7,322.73
+85.02 (1.17%)
+8.74%
May 25, 3:00pm
flag
Singapore Straits Times
2,650.61
-73.26 (-2.69%)
+16.90%
May 25, 3:00pm
flag
Bombay Sensex Index
16,469.55
+23.94 (0.15%)
+18.37%
May 25, 3:00pm
flag
Jakarta Composite
2,609.61
-13.61 (-0.52%)
+38.00%
May 25, 3:00pm
flag
Kuala Lumpur Composite
1,250.13
-23.56 (-1.85%)
+18.71%
May 25, 3:00pm
flag
PSE Composite
3,102.59
-88.70 (-2.78%)
+32.89%
May 25, 3:00pm
flag
Sri Lanka All Share
4,232.92
-2.77 (-0.07%)
+99.61%
May 25, 3:00pm

Europe
Price
Change (%)
1 Year %
Last Updated
flag
FTSE 100 Index
4,940.68
-128.92 (-2.54%)
+13.18%
May 25, 3:00pm
flag
Paris CAC 40
3,331.29
-99.64 (-2.90%)
+2.94%
May 25, 3:00pm
flag
Frankfurt Index
5,670.04
-135.64 (-2.34%)
+15.28%
May 25, 3:00pm
flag
Milan BCI General
15,743.00
+0.00 (0.00%)
-0.10%
May 25, 3:00pm
flag
Belgium 20 Index
2,329.79
-72.66 (-3.02%)
+12.28%
May 25, 3:00pm
flag
Swiss Market Index
6,091.55
-115.04 (-1.85%)
+11.85%
May 25, 3:00pm
flag
OSE Norway All Share
380.00
-12.83 (-3.27%)
+13.62%
May 25, 3:00pm
flag
ATX Vienna
2,293.37
-104.44 (-4.36%)
+11.05%
May 25, 3:00pm
flag
Amsterdam Total Return General
305.03
-8.54 (-2.72%)
+17.02%
May 25, 3:00pm
flag
Madrid General
932.60
+0.00 (0.00%)
-3.67%
May 25, 3:00pm
flag
Stockholm General Index
292.66
-7.43 (-2.48%)
+21.12%
May 25, 3:00pm

Africa/Middle East
Price
Change (%)
1 Year %
Last Updated
flag
Israel TA 100 Index
1,007.22
-22.39 (-2.17%)
+28.91%
May 25, 10:47am
flag
TEL-TECH INDEX
256.33
-9.03 (-3.40%)
+33.82%
May 25, 10:47am
flag
TEL-TECH-15 INDEX
226.15
-6.06 (-2.61%)
+31.25%
May 25, 10:47am

 


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