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ASEAN STOCK WATCH Asean Affairs   3  May  2011

Asean Stock Watch-May 3


The death of Osama bin Laden had a short-term impact on the business sector yesterday as markets around the world were boosted slightly during morning sessions before returning to normal trade in the afternoon.

The Dow Jones Industrial Average snapped a four-day winning streak to close down 3.18 points, or 0.02 percent, to close at 12,807.36,

The S&P 500 fell 2.39 points, or 0.2 percent, to close at 1,361.22, while the Nasdaq fell 9.46 points, or 0.33 per cent, to close at 2,864.08.

Crude oil closed at USD 113.14 a barrel, while gold settled at US$ 1,545.20 an ounce. Gold prices are likely to weaken in the second quarter of this year after global economic powers tighten monetary policy and the situation improves in the Middle East, according to Globlex Holding Management.

The investable range is recommended between US$1,370 and $1,475 an ounce in the quarter. At the start of the second quarter, metal prices will likely continue to rise, testing a resistance level of US$1,450-$1,475 an ounce due to widespread protests in the Middle East. However, in the middle or late in the quarter, gold prices could decline as the world's top-three economic powers stop easing and start tightening monetary policy to battle rising inflation, he said.


The FBM KLCI was down 2.76 points, or 0.18 percent at 1,532.19 in early trade on Tuesday, amid some profit taking activities.

Turnover was 347.36 million shares done valued at RM271.86 million. There were 190 gainers, 326 losers and 251 stocks unchanged.

HwangDBS Vickers Research said in a report issued today that the index may have a better chance to move upward after investors return from a long weekend holiday.

“Technically, it may pull away further from the immediate support level of 1,530 and trend towards its immediate resistance level of 1,550,” it said.

The research house added that key equity indices in the US had ended unchanged to slightly lower between 0.2% and 0.3%.

“This was mainly dragged down by oil stock prices slump, which has overshadowed the news of Osama bin Laden's death,” it said.


Philippine stocks post marginal increases

Philippine share prices posted marginal gains on Monday, as the market continues to consolidate after rallying in the previous weeks.

The composite index added 7.25 points, or 0.17 percent to 4,326.76, its highest close since November 4, 2010 when it settled at 4,349.11.

The broader all-shares index rose 18.51 points, or 0.61 percent to 3,076.15. Gainers beat losers, 91 to 44, while 44 stocks were unchanged. A total of 3.81 billion shares worth P3.76 billion changed hands.

“The market is consolidating and taking a pause in preparation for another run up with the earnings season just around the corner,” said Astro del Castillo of First Grade Holdings. Monday’s gains pushed the PSEi’s year to date advance to 125.62 points, or 2.99 percent. Singapore

Straits Time Index opens lower

Singapore shares opened lower on Tuesday, with the benchmark Straits Times Index at 3,178.93 in early trade, down 0.03 percent, or 0.93 points.

Around 56 million shares exchanged hands.

Gainers beat losers 73 to 62.

Stock Exchange of Thailand (SET)

The SET index hit a new high at 1,100 points over the past two weeks, but a correction is expected this week.

Thai stocks opened down 1.15 points at the start of trade Tuesday morning.

The Stock Exchange of Thailand (SET) main index opened at 1,092.41 points, up 0.11 per cent from Friday’s close. The trade value was 1.46 billion baht.

The SET100 index dropped 2.66 points, or 0.16 percent, to stay at 1,679.74 points, with a total turnover of 1.14 billion baht.

The SET50 index opened at 769.27 points, down 1.42 points, or 0.18 percent, with a total trade value of 811.61 million baht.

The Market for Alternative Investment (MAI or mai) index opened up 0.89 point, or 0.30 per- cent, to stand at 292.94 points, with total transaction value of 18.24 million baht.

The top five most active shares:

JAS stood at 3.92 baht, up 0.08 or 2.08 per cent.

SUSCO stood at 1.58 baht, up 0.05 or 3.27 per cent.

TRUE stood at 5.00 baht, down 0.05 or 0.99 per cent.

SCB stood at 114.50 baht, down 1.50 or 1.29 per cent.

CPF stood at 29.50 baht.



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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More


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