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ASEAN STOCK WATCH Asean Affairs  3 May2013 

ASEAN Market Preview


Philippine Stock Exchange index added 22.43 points, or 0.32 percent, to close at 7,093.42.

The index hit an intraday high of 7,108.28—close to the all-time peak of 7,120.48 recorded on April 22—as investors gambled on another credit upgrade.

Dealers said the index moved higher close to the end of the session on news that a second investment grading rating would be announced soon.

This development managed to offset the “sell in May-go away” mind-set of dealers that crept early in yesterday’s session.

But it was not until after the close of trading hours that the upgrade by S&P was confirmed. The rating firm issued a sovereign credit rating of BBB-, revising its old rating of BB+.

The day’s biggest index gainers were ICTSI (+1.63 percent), Belle (+1.23 percent), JG Summit (+0.84 percent), Bloomberry (+0.83 percent) and RLC (+0.78 percent).

MWC, Meralco, FGen and Globe Telecom also contributed to the day’s gains.

The gains made by the services subcounter (+1.47 percent), along with the financial, industrial and holding firm counters, made up for the decline in mining/oil and property counters.

Value turnover amounted to P8.6 billion. There were 103 advancers against 68 decliners, while 36 issues were unchanged.


Among the key regional markets:

Japan's Nikkei 225 fell 0.76% to 13,694.04;

Hong Kong's Hang Seng Index fell 0.3% to 22,668.30;

Shanghai's Composite Index fell 0.17% to 2,174.12;

Taiwan's Taiex rose 0.43% to 8,128.51;

South Korea's Kospi fell 0.34% to 1,957.21;

Singapore's Straits Times Index jumped 1.02% to 3,402.39.

Crude palm oil for third-month futures fell RM18 to RM2,268 per tonne.

Plantation heavyweight Sime Darby fell six sen to RM9.38 and erased 0.79 of a point of the KLCI. FGV fell four sen to RM4.58 and IOI Corp three sen to RM5. However, PPB Group rose four sen to RM12.84 and KL Kepong two sen to RM21.58.

Among the top losers were consumer stocks, with BAT down the most, falling 48 sen to RM62.84, F&N 34 sen to RM17.90 and Carlsberg 22 sen lower to RM14.14. However, Nestle jumped 70 sen to RM62.50.

SapuraKencana Petroleum fell 10 sen to RM3.08, Tenaga six sen to RM7.79 and Axiata three sen to RM6.74.

MAS was the most active with 47 million shares done after its rights shares went ex. It rose 4.5 sen to 36.5 sen.

Petronas Gas rose 28 sen to Rm20 and pushed the KLCI up 0.79 of a point. UEM Land gained five sen to RM2.56 and added 0.23 of a point to the index.

The ringgit weakened against the US dollar to 3.0505 from the previous close of 3.0421.


The Stock Exchange of Thailand main index went down 8.67 points, or 0.54%, to close at 1,589.19 points at the end of trading session this afternoon. The trade value was 56.55 billion baht, with 10.27 billion shares traded.

The SET50 index ended at 1,050.48 points, down 5.14 points, or 0.49%, with a total trade value of 33.67 billion baht.

The SET100 index fell 13.43 points, or 0.57%, to stand at 2,348.80 points, with a total turnover of 41.38 billion baht.

The SETHD index went down 6.36 points, or 0.50%, to stand at 1,257.17 points, with total trade value of 9.69 billion baht.

The MAI index dropped 5.30 points, or 1.04%, to close at 502.49 points, with total transaction value of 2.46 billion baht.

Top five most active values were as follows;

CPALL (XD) stood at 41.50 baht, down 2.50 baht (5.68%)
INTUCH stood at 86.50 baht, up 0.25 baht (0.29%)
PTT stood at 327.00 baht, up 1.00 baht (0.31%)
ADVANC stood at 267.00 baht, down 3.00 baht (1.11%)
JAS stood at 8.40 baht, up 0.15 baht (1.82%)


The FTSE Straits Times Index (STI) ended +34.21 points higher or +1.02% higher to 3,402.39, taking the year-to-date performance to +7.43%.

The FTSE ST Mid Cap Index declined -0.30% while the FTSE ST Small Cap Index declined -0.23%.

The top active stocks were Genting SP (+4.89%), DBS (+4.54%), Singtel (unchanged), Kep Corp (-1.12%), and THBEV (+3.31%).

The outperforming sectors today were represented by the FTSE ST Financials which gained +1.35%. The two biggest stocks of the Financials Index are DBS Group Hldgs (+4.54%) and OCBC Bank (+0.65%). The underperforming sector, FTSE ST Technology, declined -0.86% with Liongold Corp LT declining -0.87% and Stats Chippac unchanged. The FTSE ST Real Estate Index gained +0.20%, FTSE ST Consumer Services Index gained +0.87% and the FTSE ST Utilities gained +1.15%.

The three most active Exchange Traded Funds (ETFs) by value today were NIKKO AM SINGAPORE STI ETF (+0.89%), STI ETF (+0.59%) and ISHARES USD ASIA HY BOND ETF (+0.62%).

The three most active Real Estate Investment Trusts (REITs) by value were Ascendasreit (-2.18%), MapletreeGCC (+0.90%) and CapitaMall (unchanged).

The most active index warrants by value today were HSI22200MBePW130627 (unchanged), HSI21800MBeCW130627 (-1.71%) and HSI22400MBePW130530 (-1.30%).

The most active stock warrants by value today were DBS MB ePW130902 (-30.26%), UOB MB eCW130802 (+30.39%), and DBS MB eCW130910 (+39.04%).

*Please note the Real Estate, Consumer Services and Utilities sectors will be the focus of SGX My Gateway Educational events in 2Q13.


Indonesia’s benchmark stock index fell on Thursday as investors cashed in gains on news that Standard & Poor’s, one of the three global rating assessors, cut the country’s rating outlook to “stable” from “positive.”

The Jakarta Composite Index lost 66.87 points, or 1.3 percent, dropping to 4,994.05 on Thursday and ending a three-day rally where it gained 1.7 percent and moved to its highest-ever closing position at 5,060.92.

Decliners far outnumbered gainers, by 231 to 62. More than 4.78 billion shares, worth Rp 6.75 trillion, changed hands on the Indonesia Stock Exchange according to data from Bloomberg. The volume traded was much lower than the average 6.15 billion shares traded daily on the local bourse so far this year.

S&P cut the country’s rating from positive, citing “slow progress in improving critical infrastructure, along with legal and regulatory uncertainties and bureaucratic obstacles.” S&P is the only big-three credit agency not to give Indonesia an investment grade.

“This will trigger a correction in the stock market,” Fadlul Imansyah, fund manager at CIMB-Principal Asset Management, told Bloomberg: “Some investors decided to lock in their gains since the JCI gained so much.”

The property sector lost 2.4 percent, led by Bumi Serpong Damai, one of the country’s largest property developers, which fell 1.7 percent to Rp 1,760, erasing some of its 6.5 percent gain of the past two days.

The financial sector was down 2.1 percent on the decline of banking stocks. Bank Rakyat Indonesia, the second largest bank by assets, fell 3.1 percent to Rp 9,350 as investors locked in the12 percent they had gained over a six-day rally.

Bumi Resources lost 4.6 percent to Rp 630 while Bumi Resources Minerals fell 7.1 percent to Rp 325. Both companies posted big losses for the first quarter.

Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager

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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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