ASEAN KEY DESTINATIONS
Asean Stock Watch-May 4
The Dow Jones Industrial Average edged up by 0.15 points, or 0.001 percent, to close at 12,807.51.
The S&P 500 fell 4.60 points, or 0.34 percent, to close at 1,356.62, while the Nasdaq dropped 2.46 points, or 0.8 percent, to close at 2,841.62.
Crude closed at USD 110.88 a barrel, while gold was at USD 1,535.30 an ounce. Indonesia
The Jakarta Composite Index declined 35.43 points, or 0.9 percent, to 3,813.87 on Tuesday, falling from a record high. The Indonesian rupiah also declined.
Bank Central Asia, the nation’s largest bank by market value, plunged 3.3 percent to Rp 7,250, the most since Feb. 10. Bank Rakyat Indonesia, the second biggest by assets, lost 1.5 percent to Rp 6,450.
Banks such as Bank Rakyat fell on speculation recent gains were excessive, according to Asti Pohan, a banking analyst at BNI Securities. “Investors are taking profit,” she said. Bank Rakyat has gained 10 percent in the past month, compared with a 4.7 percent advance for the Jakarta Finance Index and a 2.9 percent rise for the benchmark index.
Share prices on Bursa Malaysia were mixed in early trading with gains mainly among heavyweights, dealers said.
As at 9.23 am, the FTSE Bursa Malaysia KLCI was 3.09 points higher at 1,534.56 after opening 6.01 points better at 1,537.48.
Dealers said sentiment remained cautious in line with weaknesses in regional markets.
Overnight Wall Street closed flat as investors shifted focus to bonds, utilities and telecommunication stocks.
On Bursa Malaysia, the Plantation Index gained 11.93 points to 7,605.11, the Finance Index rose 11.101 points to 14,036.9 and the Industrial Index increased 6.81 points to 2,773.68.
The FTSE Bursa Malaysia Emas Index added 13.86 points to 10,565.86, the FTSE Bursa Malaysia Mid 70 Index climbed 13.99 points to 11,369.44 and the FTSE Bursa Malaysia Ace Index perked 6.77 points to 4,312.97.
Losers led gainers 162 to 93 while 162 counters were unchanged, 1,020 untraded and 27 others were suspended.
Philippine share prices on Tuesday closed lower in the absence of fresh catalysts. At the Philippine Stock Exchange, the composite index lost 7.39 points, or 0.17 percent to 4,319.37, while the broader all-shares index shed 5.18 points, or 0.17 percent to 3,070.97. Decliners beat advancers, 79 to 50, while 47 stocks were unchanged. A total of 5.18 billion worth P3.79 billion changed hands.
“Investors were visibly slow in making moves today as there wasn’t much to move the market,” said Prince Anthony Yeung of AB Capital Securities Inc.
“Aside from [BDO Unibank Inc.], which announced better than expected earnings, and some other index issues, most stocks were muted today,” Yeung added.
Among the day’s biggest laggards were SM Investments Corp., which dropped 0.86 percent to P575 and Ayala Corp., which fell 1.20 percent to P379.40.
Analysts said investors are looking ahead to the policy meeting of the Bankgo Sentral ng Pilipinas and the resumption of trades of San Miguel Corp. shares on Thursday.
Singapore shares opened lower on Wednesday, with the benchmark Straits Times Index at 3,146.98 in early trade, down 0.19 percent, or 6.13 points.
Around 59.2 million shares exchanged hands.
Losers beat gainers 82 to 42.
The Stock Exchange of Thailand yesterday slumped on profittaking amid gloom over the country's coming general election, and is expected to move sideways for at least another month.
The SET Index fell in the morning session and plunged further in the afternoon to close at 1,070.43 points, down 23.13 points, or 2.12 per cent. Market trading turnover totalled Bt39.1 billion. Large capitalised energy stocks and banks led the loss. Foreign investors were net buyers of stocks worth Bt711 million.
SET president Charamporn Jotikasthira said the index's relatively big loss yesterday was in line with the regional markets, which dropped to a normal level after earlier gains.
Shares performed strongly last week on the HCM City Stock Exchange, with the VN-Index reaching 480.08 points by Friday's close, an increase of 5.2 per over the previous week's close.
The nation's inflation rate in April was announced last week at stunningly high 3.32 per cent over March, but the news did not negatively affect the market.
Gains were largely attributed to foreign investor interest in a couple of major stocks. Without such an assistance, shares on the Hanoi Stock Exchange languished, with the HNX-Index closing the week off 0.4 per cent.
Among the leading shares by capitalisation that saw substantial gains last week were food producer Masan Group (MSN), up 24.2 per cent, and insurer Bao Viet Holdings (BVH), up 13 per cent.
Foreign buys contributed substantially to these gains, with the total net buy by this sector on the HCM City Stock Exchange last week reaching VND113 billion (US$5.4 million), including VND37.9 billion ($1.8 million) worth of BVH shares, VND18.7 billion ($891,000) worth of Vietinbank (CTG) shares, and VND13.8 billion ($657,000) worth of MSN shares.
The overall value of trades was up on both exchanges, with the HCM City bourse seeing a daily average value of trades last week of VND531 billion ($25.3 million), an increase of 9.4 per cent over the previous week. In Ha Noi, the daily average was VND381 billion ($18 million), up 20 per cent – although the overall totals continued to reflect the prolonged market doldrums.