ASEAN KEY DESTINATIONS
27 May 2014
The Straits Times Index (STI) ended -8.82 points lower or -0.27% to 3274.06, taking the year-to-date performance to +3.45%.
The FTSE ST Mid Cap Index gained +0.17% and the FTSE ST Small Cap Index gained +0.27%. The top active stocks were Suntec REIT (+0.56%), DBS (-0.65%), UOB (-1.73%), Noble (+1.52%) and Global Logistic (-1.07%).
The outperforming sectors today were represented by the FTSE ST Basic Materials Index (+1.75%). The two biggest stocks of the FTSE ST Basic Materials Index are Midas Holdings (unchanged) and Geo Energy Resources (+3.45%). The underperforming sector was the FTSE ST Real Estate Holding and Development Index, which declined -0.81% with Hongkong Land Holdings’ share price declining -2.27% and Global Logistic Properties’ share price declining -1.07%. The FTSE ST Telecommunications Index gained +0.06% while the FTSE ST Oil and Gas Index declined -0.15%.
The three most active Exchange Traded Funds (ETFs) by value today were IS MSCI India (-0.42%), SPDR Gold Shares (-0.73%), DBXT FTSE Vietnam ETF (+0.37%).
The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (+0.56%), CapitaMall Trust (+1.47%), Ascendas REIT (-0.83%).
The most active index warrants by value today were HSI23000MBeCW140627 (+1.27%), HSI22800MBeCW140730 (-1.53%), HSI22600MBePW140627 (-3.66%).
The most active stock warrants by value today were DBS MB eCW140901 (-6.84%), DBS MB eCW140905 (-4.42 %), UOB MB eCW140901 (-18.11%).
Singapore Stock Market
*ST Index 3,274.06 -8.82 3,282.88 +4.86
Volume: 1,508.2M 1,668.8M
Value: $1,233.7M $891.2M
Gainers/Losers: 227/194 244/177
Daily Market Commentary (Securities)
27 May 2014
The FBM KLCI index gained 4.77 points or 0.26% on Tuesday. The Finance Index increased 0.36% to 17110.19 points, the Properties Index dropped 0.25% to 1401.41 points and the Plantation Index rose 0.10% to 9144.1 points. The market traded within a range of 7.27 points between an intra-day high of 1869.79 and a low of 1862.52 during the session. Actively traded stocks include OLYMPIA, MAS, KNM-WA, ASB, PDZ, DSONIC-CA, EAH-OR, SONA-WA, BJCORP and XINGHE. Trading volume increased to 1593.00 mil shares worth RM1716.09 mil as compared to Monday’s 1441.00 mil shares worth RM1733.00 mil. Leading Movers were PBBANK (+18 sen to RM20.06), MAYBANK (+6 sen to RM9.94), DIGI (+5 sen to RM5.50), SKPETRO (+3 sen to RM4.10) and PETDAG (+38 sen to RM23.68). Lagging Movers were TENAGA (-2 sen to RM12.16), SIME (-6 sen to RM9.47), MAXIS (-5 sen to RM6.61), RHBCAP (-10 sen to RM8.25) and IOIPG (-3 sen to RM2.61). Market breadth was positive with 366 gainers as compared to 364 losers.
Shares in Thai state firms fall on fears of boardroom upheaval
Shares in some Thai state-owned companies fell on Tuesday, in contrast to a rise in the main index, amid concerns that top executives could be fired and boardroom policies altered after the government was toppled by the military last week.
Thailand's biggest energy firm, PTT <PTT.BK> , was among the worst hit as worries grew over possible changes after the military government issued a series of orders transferring senior government officials.
PTT stocks, which suffered their biggest drop in almost three months on Monday with a loss of 2.6 percent, fell as much as 1.35 percent at one stage. PTT finished down 0.7 percent, while the main SET index <.SETI> rose 0.3 percent.
PTT is 51.1 percent owned by the finance ministry. The firm's board chairman is Panpre Mahittananukorn, a former member of Puea Thai, the main party in the ousted government.
Finance Ministry Permanent Secretary Rangsan Sriworasat, who is acting as finance minister under the ruling military council,
denied any plan to change PTT's board at this stage.
"PTT is a listed company and a board change will need approval from shareholders. Although the finance ministry is a major shareholder of PTT, it still needs to call a shareholders meeting," he told reporters.
Shares in airport operator Airports of Thailand <AOT.BK> - which could also suffer from a drop in foreign visitors because of the coup - fell almost 1 percent at one point to their lowest in more than three months after a drop of more than 2 percent on Monday. The stock closed down 0.3 percent.
The company is 70 percent owned by the finance ministry and its board chairman, Sita Divari, is also a former member of Puea Thai.
Some other state-owned stocks recouped early losses. National carrier Thai Airways International rose 0.8 percent after an earlier fall of almost 1 percent, while state-run broadcaster MCOT gained 1 percent.
Investors have been lukewarm about Thai stocks for months compared with regional rivals because of prolonged political unrest, which caused the economy to contract 2.1 percent in the first quarter from the previous three months and sent consumer confidence to its lowest in more than 12 years in April.
Foreign investors have offloaded a net 23.4 billion baht ($718 million) worth of stocks over the five sessions since the imposition of martial law on May 20 followed by the military coup on May 22.
Outflows so far this year total 31 billion baht ($951 million), according to Thomson Reuters data.
That compares with net inflows to other markets in Southeast Asia, including Indonesia's 41.9 trillion rupiah ($3.62 billion) and the Philippines' 63.8 billion peso ($1.46 billion).
As of 27 May 2014 Unit: M.Baht
Type Buy Sell Net
Institution 5,361.82 5,330.50 31.31
Proprietary 4,105.84 3,826.80 279.04
Foreign 7,097.06 9,827.71 -2,730.65
Individual 26,069.84 23,649.55 2,420.30
Total Trading Value 42,634.56 M.Baht
Vietnam index closes near 3-week high; risk appetite widens
Vietnam's benchmark VN Index jumped 1.6 percent to a near three-week closing high on Tuesday as investors, mostly retailers, bought shares for some short-term profits, an analyst said.
The index closed at 552.75, the highest level since May 7.
"I am quite surprised to see such strong gains today," said deputy manager Nguyen Thanh Lam of Maybank Kim Eng Securities.
Retailers thought that current prices had adjusted the conflict between Vietnam and China, so they took some risk and joined the market, Lam added.
Trading volume rose nearly 50 percent from the previous session to 127 million shares, with almost two-thirds of equities ticking up on Tuesday, exchange's data showed.
Top gainers included Hanoi-based lender, with Vietcombank gaining 4.4 percent rise and top insurer Baoviet Holdings advancing 6.6 percent higher.
But retailers are likely to offload shares when the index reaches near its 560-point resistance level to secure quick profits, given a possibility of rising tension between the two communist countries, Lam said.
Here is a snapshot of the VN Index at the close
VN Index 552.75
PREV. CLOSE 544.06
% CHANGE 1.60%
SE Asia Stocks -Thai shares snap losing streak as army works on economy
Thai shares rose on Tuesday as new military rulers have started to tackle economic problems, boosting consumer and construction stocks such as CP All and Italian Thai Development, while others in Southeast Asia were little changed.
Thailand's key SET index was up 0.3 percent, ending two sessions of losses. Domestic investors, including institutional and retail, bought shares worth a net 2.7 billion
baht ($82.82 million), Thomson Reuters data showed.
Foreign investors sold a net 2.7 billion ($82.82 million), taking their net selling to 26 billion baht ($797.55 million) since the imposition of martial law on May 20.
"A quick execution of economic policies under the centralized junta government should lead to better GDP and earnings in the second half of 2014," said broker KGI
Thailand's new military rulers are moving fast to tackle economic problems caused by the absence of a proper government since December and are making it a priority to pay arrears owed to rice farmers, big supporters of the government they ousted.
Shares in some state-owned companies underperformed, led by energy firm PTT, amid concerns that top executives could be fired and boardroom policies altered after the
government was toppled by the military last week.
Elsewhere, Singapore fell 0.3 percent in line with broader Asia as investors locked in profits following its rise to a one-year high on Monday. Malaysia rose 0.3 percent, with foreign investors buying shares a net 74 million ringgit ($23.05 million), stock exchange data showed.
The Philippine index fell for a third straight session, down 0.2 percent, while Indonesia was shut for a market holiday.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 420.78 421.03 -0.06
Singapore 3274.06 3282.88 -0.27
Kuala Lumpur 1867.57 1862.80 +0.26
Bangkok 1392.73 1388.29 +0.32
Manila 6780.26 6790.42 -0.15
Ho Chi Minh 552.75 544.06 +1.60