ASEAN KEY DESTINATIONS
08 May 2014
The Straits Times Index (STI) ended +11.26 points higher or +0.35% to 3247.69, taking the year-to-date performance to +2.62%.
The FTSE ST Mid Cap Index gained +0.23% while the FTSE ST Small Cap Index gained +0.18%. The top active stocks were UOB (+1.85%), DBS (+0.18%), SingTel (+1.06%), ComfortDelGro (+0.99%) and OCBC Bank (+0.10%).
The outperforming sectors today were represented by the FTSE ST Telecommunications Index (+0.95%). The two biggest stocks of the FTSE ST Telecommunications Index are SingTel (+1.06%) and StarHub (unchanged). The underperforming sector was the FTSE ST Health Care Index, which declined -1.65% with Raffles Medical Group ’s share price declining -3.03% and Biosensors International Group ’s share price declining -0.52%. The FTSE ST Oil & Gas Index gained +0.25%.
The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (-1.65%), IS MSCI India (-0.47%), DBXT FTSE Vietnam ETF (-5.85%).
The three most active Real Estate Investment Trusts (REITs) by value were Suntec REIT (+1.15%), Keppel REIT (+0.41%), CapitaCommercial Trust (-0.92%).
The most active index warrants by value today were HSI21800MBeCW140627 (+5.38%), HSI21600MBePW140627 (-6.90%), HSI22400MBeCW140627 (+5.46%).
The most active stock warrants by value today were DBS MB eCW140901 (-0.82%), UOB MB eCW140801 (+25.41%), DBS MB ePW140701 (-4.00%).
Singapore Stock Market
*ST Index 3,247.69 +11.26 3,236.43 -9.13
Volume: 1,357.6M 1,270.4M
Value: $973.5M $1,010.3M
Gainers/Losers: 221/192 152/257
Daily Market Commentary (Securities)
8 May 2014
The FBM KLCI index gained 2.41 points or 0.13% on Thursday. The Finance Index increased 0.36% to 16999.6 points, the Properties Index up 0.11% to 1407.91 points and the Plantation Index rose 0.54% to 9120.26 points. The market traded within a range of 3.34 points between an intra-day high of 1863.94 and a low of 1860.60 during the session.
Actively traded stocks include PDZ, UTOPIA, ASUPREM, MAS, IDEAL, MARCO, CME, WPRTS, ASIABIO and SYMPHNY. Trading volume increased to 1778.44 mil shares worth RM1932.08 mil as compared to Wednesday’s 1610.39 mil shares worth RM1828.37 mil.
Leading Movers were BAT (+44 sen to RM61.64), HLBANK (+20 sen to RM13.96), KLK (+18 sen to RM24.34), HLFG (+16 sen to RM15.14) and UMW (+14 sen to RM10.82). Lagging Movers were PETDAG (-300 sen to RM26.90), MAXIS (-18 sen to RM6.80) and TM (-5 sen to RM6.08). Market breadth was positive with 444 gainers as compared to 332 losers.
The KLCI ended slighter higher at 1862.84 points. The performance of our local bourse was in line with the generally higher Asian markets, after dovish testimony from Federal Reserve Chair Janet Yellen and easing Ukraine crisis drove the overnight US market higher.
Indonesia c.bank sharply cuts GDP growth outlook
Indonesia's central bank on Thursday significantly lowered its economic growth forecast for this year to 5.1-5.5 percent, from its previous estimate of 5.5-5.9 percent.
The central bank said the revisions were due to a sharp cut in its export growth outlook to 1.5-1.9 percent this year, from a previous forecast of 8.1-8.5 percent, due to a ban on mineral ore shipments and declining commodity prices.
Indonesia's c.bank holds rates at 7.5 pct, as expected
Indonesia's central bank kept its key reference rate unchanged at 7.50 percent on Thursday, as widely expected, with pressures over inflation and a widening current-account deficit easing.
A Reuters poll of 15 analysts had projected the central bank would keep its policy rate unchanged at 7.50 percent for a sixth straight month. Between June and November, Bank Indonesia raised rates by a total of 175 basis points.
The central bank also left the deposit facility rate, or FASBI, and lending facility rate at 5.75 percent and 7.50 percent, respectively.
Thai bourse launches ‘OppDay’ application on iPhone for Opportunity Day
BANGKOK, May 8, 2014 – The Stock Exchange of Thailand (SET) kicks off the ‘OppDay” application on iPhone for its “Opportunity Day,” the quarterly event for top management of listed companies to meet directly with analysts and investors, enabling investors to monitor and get up-to-the-minute coverage of the event. For this second quarter, it is being held from today until June 12, 2014.
This event will spotlight 102 firms, with a combined market capitalization of THB 3 trillion (approx. USD 92.31 billion).
SET Senior Vice President Paveena Sriphothong said that this round’s event would present the first-quarter financial performance of listed companies and their business outlooks. SET would provide new channel on iPhone, enabling investors to watch Opportunity Day’s webcast and company fact sheet via OppDay application, available for iPhone 4 or later with iOS 6 version onwards, to fit trendy lifestyle of current investors.
“The live broadcast of Opportunity Day via webcast will help audiences worldwide to have easy and direct access to information of listed companies. Currently, there have been more than 77,000 users downloading the application, and about 25,000 audiences watching the event via website on iPhone,” Paveena added.
The 102 companies joining in the event, consisting of 80 SET-listed companies and 22 mai-listed companies, including four new companies listed earlier this year, namely AI Energy pcl (AIE), Kaset Thai International Sugar Corporation pcl (KTIS), Lease IT pcl (LIT), Srisawad Power 1979 pcl (SAWAD). They will be presented by categorizing into four sectors to meet investor interests, namely Petrochemical and Chemicals, Energy and Utilities, Property Development, and Finance and Securities, as well as mai companies. To provide insightful information, there will be analysts from Finansia Syrus Securities Co., Ltd., Maybank Kim Eng Securities Co., Ltd. and SCB Securities Co., Ltd. joining to evaluate overall business and factors of each sector.
OppDay is organized quarterly at SET headquarters, Bangkok and webcast live to all investor groups throughout Thailand and other countries worldwide. To view OppDay, please visit www.set.or.th/oppday and www.settrade.com/oppday via smart phones and tablets (iPhone, iPod, iPad, Blackberry) or download application OppDay on iOS (iPad & iPhone) and Andriod tablet.
OppDay makes it convenient for analysts, investors, and the media to discover the plans and operations of listed companies and for firms to communicate with these key audiences. SET schedules such events after every periodic disclosure of financial statements.
As of 8 May 2014 Unit: M.Baht
Type Buy Sell Net
Vietnam index plummets about 6 pct on South China sea dispute
Vietnamese stocks tumbled on Thursday, posting their biggest single-day drop in nearly 13 years as tension mounted between China and Vietnam in the South China Sea, market experts said.
Vietnam's benchmark VN Index ended 5.87 percent down, paring some of its previous losses that pulled the index down to the biggest decline since October 2001, Reuters data showed.
The northern bourse of Hanoi also fell 6.4 percent to 71.66, witnessing the biggest fall since May 2010.
Vietnam said on Wednesday that Chinese vessels intentionally rammed into its ships in a disputed area of the South China Sea, where Beijing has deployed a giant oil rig, sending tensions spiralling in the region.
The market witnessed heavy selling pressure, mostly from retail investors who abandoned shares over rising tension between the two communist countries as well as margin calls resulted from such sharp drop, market experts said.
But foreign investors and funds are seen picking up shares, as prices have fallen to attractive levels.
"The market is now cheap again ... For anybody who was nervous about chasing the rally earlier this year could have a better opportunity to have a look at it at a lower level," said Kevin Snowball, chief executive of PXP Vietnam Asset Management fund.
"I don't think this (the sea conflict) is going to lead to a war; therefore, it is likely to create a buying opportunity," Snowball added.
Chinese Vice Foreign Minister said on Thursday that China and Vietnam could resolve disputes at sea peacefully and that an incident between the countries earlier this week in a part of the disputed South China Sea was not a "clash".
The State Securities Commission of Vietnam on Thursday released a statement on its website telling investors not to worry as macroeconomic indicators and corporate results have been positive.
"Falls in the market this morning could have been a reflect of sentiment over news from the East Sea (South China Sea). We suggest investors to stay calm and careful ...," it said in the statement.
"Some large funds are actively buying stocks," the commission added.
Trading volume on the Ho Chi Minh Stock Exchange hit a three-week high at 147 million, with more than 85 percent of stocks losing ground on Thursday, Reuters data showed.
Vietnam's biggest firm by capitalisation PetroVietNam Gas tumbled 6.6 percent, and dairy product maker Vinamilk lost 6.72 percent.
Here is a snapshot of the VN Index at the close
VN Index 527.09
PREV. CLOSE 559.97
% CHANGE -5.87%
SE Asia Stocks-Thai shares see worst loss since Jan; Ex-PM found guilty in rice scheme
Thai shares posted their worst drop since January on Thursday after an anti-graft body found former Prime Minister Yingluck Shinawatra guilty of negligence over a rice-buying scheme while stocks in Vietnam fell the most in nearly 13 years amid a South China sea dispute with China. urn:newsml:reuters.com:
Bangkok's key SET index ended down 1.7 percent at 1,379.02, the lowest close in almost six weeks, led down by large caps such as Advanced Info Service.
Yingluck's rice scheme case will be further heard by the Senate and she now faces a ban from politics if found guilty by the Senate.
Domestic institutions sold shares worth a net 1.3 billion baht ($40.14 million) while foreign investors bought worth a net 1.2 billion baht ($37.05 million), Thomson Reuters data showed.
The Thai market saw a net 2 billion baht of foreign selling on Wednesday after a court ordered Yingluck to step down after finding her guilty of abuse of power.
Thailand's consumer confidence fell for the thirteenth month in April, reflecting worries about the prolonged political uncertainty. The Thai stock market was Asia's second-worst performer on the day after Vietnam, which was the worst, Thomson Reuters data showed.
"It's no surprise that the political situation is undermining consumer confidence and the economic outlook ... As the lack of further clarity on politics leaves fiscal policy in a vacuum, growth will remain subpar at best," said economist Julia Goh at CIMB Investment Bank.
Stocks in Indonesia ended nearly flat after Bank Indonesia kept its key reference rate unchanged at 7.50 percent on Thursday, as widely expected, with pressures over inflation and a widening current-account deficit easing.
The Philippines and Malaysia saw a range-bound session before the Philippine central bank and Bank Negara Malaysia both held key interest rates as expected. The decisions came after market close.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 417.95 418.41 -0.11
Singapore 3247.69 3236.43 +0.35
Kuala Lumpur 1862.84 1860.43 +0.13
Bangkok 1379.02 1402.61 -1.68
Jakarta 4860.89 4862.07 -0.02
Manila 6765.21 6748.51 +0.25
Ho Chi Minh 527.09 559.97 -5.87