ASEAN KEY DESTINATIONS
07 May 2014
The Straits Times Index (STI) ended -9.13 points lower or -0.28% to 3236.43, taking the year-to-date performance to +2.26%.
The FTSE ST Mid Cap Index declined -0.10% while the FTSE ST Small Cap Index declined -0.42%. The top active stocks were DBS (-0.64%), SingTel (unchanged), Wilmar International (-0.60%), UOB (-0.05%) and OCBC Bank (+0.41%).
The outperforming sectors today were represented by the FTSE ST Technology Index (+1.12%). The two biggest stocks of the FTSE ST Technology Index are Silverlake Axis (+2.34%) and STATS ChipPAC (unchanged). The underperforming sector was the FTSE ST Consumer Goods Index, which declined -0.96% with Wilmar International ’s share price declining -0.60% and Thai Beverage ’s share price declining -2.46%. The FTSE ST Oil & Gas Index gained +0.02%. The FTSE ST Telecommunications Index declined -0.04%.
The three most active Exchange Traded Funds (ETFs) by value today were the DBXT MSCI Indonesia ETF (-0.49%), IS MSCI India (-1.08%), SPDR Gold Shares (+0.13%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (+0.50%), Ascendas REIT (unchanged), CapitaCommercial Trust (+1.24%).
The most active index warrants by value today were HSI21600MBePW140627 (+12.40%), HSI21800MBeCW140627 (-16.96%), HSI21800MBePW140529 (+17.95%).
The most active stock warrants by value today were DBS MB eCW140901 (-3.18%), KepCorp MBeCW140901 (+2.84%), UOB MB eCW140801 (-3.18%).
Singapore Stock Market
*ST Index 3,236.43 -9.13 3,245.56 +3.96
Volume: 1,270.4M 1,253M
Value: $1,010.3M $670.1M
Gainers/Losers: 152/257 240/186
Indonesia's forex reserves hit a one-year high in April
Indonesia's foreign reserves at the end of April were at their highest level in a year, the country's central bank said on Wednesday.
The reserves were $105.6 billion, compared with $102.6 billion the previous month and June's $98.1 billion when offshore investors dumped Indonesian assets on worries about the country's ballooning current-account deficit.
The last time the reserves were higher was in April 2013, when they were $107.27 billion.
A Reuters poll of analysts showed Bank Indonesia will keep its key reference rate unchanged at 7.50 percent on Thursday's policy meeting.
Thai bourse welcomes secured loan provider SAWAD
BANGKOK, May 7, 2014 - The Stock Exchange of Thailand's (SET) welcomes Srisawad Power 1979 pcl, Thailand's loan service provider to retail customers, on its main board on May 8, under the ticker symbol "SAWAD," with a market capitalization at the initial public offering (IPO) price of THB 6.9 billion (approx. USD 212 million).
SET Executive Vice President Chanitr Charnchainarong said that SAWAD would be listed in SET's Finance and Securities sector on May 8.
SAWAD provides secured loans against all types of used vehicle, home and land, hire purchase of new motorcycle, as well as unsecured personal loans by providing convenient, fast and fair services. It has a total of 602 branches in greater Bangkok , as well as various provinces nationwide.
It has a paid-up registered capital of THB 1 billion, consisting of 750 million existing shares and 250 million newly-issued shares, with a par value of THB 1.00 each. The company offered the new shares through an IPO at THB 6.90 per share during April 28-30, for the total of THB 1.73 billion. Asia Plus Advisory Co.,Ltd. is the company's financial advisor, while Asia Plus Securities pcl is its lead underwriter.
Doungchai Kaewbootta, SAWAD's managing director, said "The listing on SET is a significant step of the company to grow sustainably. The fund raised will be used to expand loans and repay some debts. It will also be used for working capital, while strengthening the financial status and upgrading the public company's best practice. This will fulfill our future expansion into the automobile loan market."
SAWAD's three major shareholders after the IPO are Kaewbootta family (60.51 percent), Mongkol Soontornsuk (3.75 percent), Weerasak Kunpalin and Sutthisak Chaipradit (1.50 percent each). The IPO price had a price-to-earnings ratio (P/E) of 11.9 times, calculated by using its 2013 net profit, divided by the number of fully-diluted shares, representing earnings per share of THB 0.58. The P/E ratio was lower than 15.59 times, an average P/E ratio of the total SET-listed company (during March 19, 2014 - April 18, 2014). SAWAD's dividend policy is to pay no less than 40 percent of net profits after tax and reserves.
As of 6 May 2014 Unit: M.Baht
Type Buy Sell Net
Institution 3,615.17 3,774.32 -159.14
Proprietary 3,495.78 3,708.64 -212.86
Foreign 7,387.60 9,406.11 -2,018.51
Individual 18,330.65 15,940.14 2,390.51
Total Trading Value 32,829.21 M.Baht
Vietnam index up 0.7 pct at midday in thin trade
Vietnam's benchmark VN Index rose 0.69 percent at the break on Wednesday in thin trade as investors cautiously picked up shares following recent declines.
"Long-term investors saw an opportunity to collect equities that were previously too high to purchase, but only at a low volume as they expected the index would further fall," said analyst Nguyen The Minh at Viet Capital Securities.
Top insurer Baoviet Holdings was among the top gainers. Its shares climbed 4.45 percent to 32,500 vietnam dong ($1.54) each after closing on Tuesday at the lowest level since Dec. 2012, Reuters data showed.
Dairy product maker Vinamilk also edged up 1.5 percent and food producer Masan Group rose 2.19 percent. Trading volume reached 26.8 million shares, well below the five-day average of 62 million, Reuters data showed.
On Tuesday the index fell to a near three-month low on widespread selling by retail investors.
Here is a snapshot of the VN Index at midday (0431 GMT).
VN Index 558.93
PREV. CLOSE 555.11
% CHANGE 0.69%
SE Asia Stocks-Thai shares pare losses despite political woes
Thai shares posted modest losses on Wednesday after a court ruled Prime Minister Yingluck Shinawatra would have to step down but many other ministers could remain in office while stocks in Indonesia rebounded ahead of a central bank policy meeting.
The SET index ended the day down 0.1 percent, paring much of its losses from before the court verdict on worries Thailand could face a political vacuum if the entire government was forced out.
The constitutional court found Yingluck guilty of violating the constitution on Wednesday and said she had to step down, throwing the country into further political turmoil.
The baht edged up after the Yingluck verdict as most emerging Asian currencies gained. Analysts said investors were cautious about Thai financial markets as there was no sign of political stabilisation.
Losses were led by large caps such as Advanced Info Service and PTT Exploration and Production while low valuations in shares of growth firms lured bargain hunters, including retailer CP All which rebounded almost 2 percent.
Broker Nomura Pattanasin's analyst Koraphat Vorachet expects market weakness, with near-term support levels for the SET index seen at 1,380, then 1,361.
"Political risks overall are higher after the court verdict. Stock market investors may need to see new government before adding on to risk positions, and it's still uncertain if the election will go as planned in July," he said.
Indonesian shares gained 0.6 percent as investors bought banking shares such as Bank Rakyat Indonesia amid expectations the central bank would keep interest rates unchanged at its meeting on Thursday.
Malaysia ended flat while the Philippines closed near its intraday low amid domestic-led selling.
Foreign investors bought Malaysian shares worth a net 34.6 million ringgit ($10.63 million) and Philippine and Indonesian stocks worth a net 699 million peso ($15.77 million) and 339.8 billion rupiah ($29.50 million), respectively, stock exchange and Thomson Reuters data showed.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 418.31 418.92 -0.15
Singapore 3236.43 3245.56 -0.28
Kuala Lumpur 1860.43 1860.43 0.00
Bangkok 1402.61 1404.01 -0.10
Jakarta 4862.07 4834.47 +0.57
Manila 6748.51 6765.93 -0.26
Ho Chi Minh 559.97 555.11 +0.88