ASEAN KEY DESTINATIONS
13 November 2013
The Straits Times Index (STI) ended 13.51 points lower or -0.42% to 3,166.74, taking the year-to-date performance to -0.01%.
The FTSE ST Mid Cap Index declined -0.90% while the FTSE ST Small Cap Index declined -0.81%. The top active stocks were Noble Group (-2.78%), Pacific Radiance (unchanged), SingTel (-1.05%), Golden Agri-Resources (+0.89%) and GLP (-1.02%).
The outperforming sectors today were represented by the FTSE ST Technology Index (-0.23%). The two biggest stocks of the FTSE ST Technology Index are Liongold Corp (+1.03%) and STATS ChipPAC (unchanged). The underperforming sector was the FTSE ST Basic Materials Index, which declined -1.62% with Midas Holdings’ share price declining -2.00% and Geo Energy Resources’ share price declining -3.18%. The FTSE ST Consumer Goods Index declined -0.41%.
The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (-0.31%), iShares MSCI INDIA 100 (-1.06%) and Nikko AM Singapore STI ETF (-0.62%).
The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-0.75%), Ascendas REIT (-0.44%) and CapitaCommercial Trust (+0.34%).
The most active index warrants by value today were HSI22800MBePW131230 (+24.55%), HSI23000MBeCW131230 (-22.64%) and HSI23600MBeCW131230 (-32.31%).
The most active stock warrants by value today were DBS MB eCW140204 (+0.99%), OCBC Bk BPeCW140103 (+5.66%) and Ezra MBeCW140602 (-5.30%).
Singapore Stock Market
*ST Index 3,166.74 -13.51 3,180.25 -6.47
Volume: 1,797.1M 1,816.3M
Value: $963.1M $981.1M
Gainers/Losers: 124/300 158/244
Daily Market Commentary (Securities)
13 Nov 2013
The FBM KLCI index lost 12.31 points or 0.69% on Wednesday. The Finance Index fell 0.92% to 16509.91 points, the Properties Index dropped 1.43% to 1286.55 points and the Plantation Index down 0.23% to 8576.67 points. The market traded within a range of 14.53 points between an intra-day high of 1796.19 and a low of 1781.66 during the session.
Actively traded stocks include UTOPIA, SUMATEC, TAKASO, ASIABIO, SUMATEC-WA, TMS, IRCB-WA, AT, IRCB and INSTACO-WB. Trading volume decreased to 2245.63 mil shares worth RM2218.20 mil as compared to Tuesday’s 2403.28 mil shares worth RM2087.61 mil.
Leading Movers were MAXIS (+1 sen to RM7.13), TENAGA (+1 sen to RM9.41) and AMMB (+1 sen to RM7.34). Lagging Movers were PETGAS (-38 sen to RM23.10), BAT (-30 sen to RM62.70), HLFG (-16 sen to RM14.88), PBBANK (-14 sen to RM18.14) and MAYBANK (-12 sen to RM9.73). Market breadth was negative with 196 gainers as compared to 654 losers.
The local bourse extended yesterday’s losses, eased by 12.31 points to end the day at 1,782.49. The poor performance was in tandem with regional peers which mostly ended in red pursuant to the outcome of the China’s leaders meeting which failed to outline steps to curb state dominance of the economy. The crummy performance was further heightened by bets on Federal Reserve which may start reducing U.S. stimulus as early as next month.
Indonesian shares continued their slide on Wednesday, a day after the central bank's surprise rate hike sparked broad selling.
Jakarta's Composite Index was down 2.1 percent at 4,288.40.
On Tuesday, Indonesia's central bank raised its benchmark reference rate to 7.50 percent, in a move to help shrink a worryingly large deficit in the current account. Foreign investors sold shares worth a net 463 billion rupiah ($40 million), marking a seventh session of selling, Thomson Reuters data showed.
"The impact of rise in BI Rate will hit banking, property and infrastructure stocks due to the implications of slowing growth in investment and credit, GDP growth," Edwin Sebayang, head of research at Jakarta-based MNC Securities, said in a note on Wednesday.
Property stocks fell more than 2 percent, while banking shares were down 1.8 percent. The blue-chip index slid 1.57 percent.
Shares of real estate developer Lippo Karawaci and state-controlled lenders Bank Mandiri and Bank Rakyat Indonesia each dropped more than 3 percent.
Thai bourse lists Uniloft Property Fund on November 14
BANGKOK, November 13, 2013 - The Stock Exchange of Thailand (SET) will list Uniloft Property Fund, managed by One Asset Management Limited, with a size of THB 515 million (approx. USD 16.35 million), on its main board on November 14,under the ticker symbol "UNIPF."
SET Senior Vice President Paveena Sriphothong said that UNIPF would list and sell on the main board in the Property Fund sector, Property and Construction industry. It sold 51.50 million units via an initial public offering (IPO) at THB 10 per unit, with a total worth of THB 515 million between 14 and 25 October.
UNIPF, a specific closed-end property fund, invested in the freehold rights in the Uniloft Salaya project, including land, three dormitory buildings, other buildings, and related infrastructure and necessary assets, owned by Bright Development Bangkok Co.,Ltd. (Bright). Property Perfect pcl (PF), holding a 100 percent stake in Bright, is the sole lessee and project manager.
The project's highlight is its location, which is situated near Mahidol University, Salaya campus, and its modern and outstanding building which is able to meet the needs of university students, the property's main target market.
One Asset Management's CEO Win Udomrachtavanich, said that UNIPF will get a fixed rental fee from PF of THB 43.5 million per year throughout the three-year period that the fund has agreed to invest in. The fund has the right to extend the rental period for another year under the same conditions and rental fee.
After the rental contract expires, the fund will procure a new sole lessee or enter into a new rental and service contract directly with retail tenants under the management of PF which has long experiences and expertise of property development for more than 28 years. We believe the listing of UNIPF will be a good investment choice for investors.
UNIPF's dividend policy is to pay at least once a year, at no less than 90 percent of adjusted net profit of its financial year. The fund's major unit holders after its IPO are PF (19.42 percent), and five other investors, which are Pimprapa Kanathanavanich, Pranee Phaoenchoke, Advance Finance pcl, Sino-Thai Engineering & Construction pcl, and AEC Securities pcl, each hold 3.88 percent of the total stake.
As of 13 November 2013 Unit: M.Baht
Type Buy Sell Net
Institution 2,312.13 2,198.66 113.48
Proprietary 3,481.74 4,177.75 -696.00
Foreign 5,946.58 10,225.39 -4,278.81
Individual 17,038.99 12,177.66 4,861.34
Total Trading Value 28,779.45 M.Baht
Vietnam's benchmark VN Index dipped 0.31 percent to close at 496.12 points, the second fall in a row, led by many blue chips, and the decline could extend until next week, analysts said on Wednesday.
Banks and real estate firms led the losses. Shares of Hanoi-based Vietcombank fell 0.67 percent, and property firm HAGL lost 0.88 percent.
Volume nearly halved to 64.5 million shares from the previous day as investors have finished taking profit from most stocks, analysts said.
The index could decrease until next week, but would not fall below 490 points, around which investors would start picking cheap stocks and their purchase could lift the market, analysts said.
Here is a snapshot of the VN Index
VN Index 496.12
PREV. CLOSE 497.65
% CHANGE -0.31%
Indonesian shares fell to a two-month low on Wednesday as higher interest rates raised concerns about economic growth, while Philippine stocks retreated amid concerns over the impact of the typhoon Haiyan.
Jakarta's Composite Index finished down 1.8 percent at 4,301.89, the lowest close since Sept. 9. Among underperformers, Telekomunikasi Indonesia fell 4.5 percent and Semen Indonesia dropped 4.1 percent.
Bank Indonesia's unexpected interest rate hike on Tuesday and cautions ahead of the release of current account data for the third quarter kept investors wary.
After the market hours, Bank Indonesia released the current account deficit that was 3.8 percent of gross domestic product in the third quarter, or the equivalent of $8.4 billion.
The Philippine main index ended down 0.05 percent after falling 1 percent at one point, while the Thai SET index eased 0.6 percent after two sessions of gains.
Stocks in Singapore, Malaysia and Vietnam drifted into negative territory amid uncertainty about the timing of a cut in the U.S. Federal Reserve stimulus and the fine print of economic reforms in China.
SOUTHEAST ASIAN STOCK MARKETS
Market Current Prev Close Pct Move
TR SE Asia Index* 406.32 408.15 -1.83
Singapore 3166.74 3180.25 -0.42
Kuala Lumpur 1782.49 1794.80 -0.69
Bangkok 1404.77 1413.08 -0.59
Jakarta 4301.89 4380.64 -1.80
Manila 6320.96 6324.17 -0.05
Ho Chi Minh 496.12 497.65 -0.31
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