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ASEAN STOCK WATCH Asean Affairs   12 October  2011

Asean Stock Watch- October 12



U.S. stocks ended mixed and flat on Tuesday as investors focused on eurozone debt crisis developments. The Dow Jones Industrial Average fell 16.88 points, or 0.15 percent at 11,416.30.

The S&P 500 gained 0.65 points, or 0.05 per cent at 1,195.54. The Nasdaq gained 16.98 points, or 0.66 percent at 2,583.03.


The Jakarta Composite Index (JCI), the main price indicator at the Indonesian Stock Exchange (IDX), rose by 2.34 percent on Tuesday following Bank Indonesia (BI)'s move to cut its benchmark interest rate to 6.5 percent earlier in the same day.

The index surged to 3,531.75 by closing time on Tuesday, with the LQ45 index, representing the IDX's 45 most liquid shares, rising by 2.79 percent to 622.9.

“The market movement today was an impact of the BI's move to cut the BI rate, following BI's projection that the inflation rate will remain low until the end of the year,” Panin Sekuritas analyst Purwoko Sartono said on Tuesday in Jakarta, as quoted by Antara.

The sharp increase, he added, was also attributable to positive sentiments from the regional Asian markets, following reports of the commitment of European leaders' to tackle the debt crisis in the Euro zone.

Purwoko said the JCI would likely fluctuate within a support-resistance level, between 3,490 and 3,580, over the next two days.

BI Governor Darmin Nasution announced earlier on Tuesday that the central bank had finally decided to cut its key rate to 6.5 percent from the 6.75 percent it had maintained since February.


Share prices on Bursa Malaysia staged a rebound Tuesday to end firmer, after beginning the week in the red, and against a mixed global equity market, dealers said.

World stocks which were on a rally today, slipped to mixed trading with players cautious, ahead of the European Union's bailout vote.

At 5pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 14.61 points to end at 1,411.65, after opening 9.95 points better at 1,406.99. It then stayed above the psychological 1,400-level.

The key index hovered between 1,414.74 and 1,406.99 throughout the day, lifted by Hong Leong Bank, Genting Bhd, Amway Holdings, Ibraco and Nestle counters.

Hong Leong Bank gained 48 sen to RM10.72, Genting Bhd increased 41 sen to RM9.50, Amway rose 32 sen to RM8.68, Ibraco added 31 sen to RM1.46 and Nestle advanced 30 sen to RM49.50.

Dealers said the local bourse steadily gained support together with key regional markets following China's move to buy bank shares, seen as a signal to boost the banking sector and Japanese equities that rose after trade resumed following a holiday.

Bursa Malaysia's Plantation Index added 119.91 points to 7,157.62 and the Industrial Index rose 19.3 points to 2,534.26 and the Finance Index surged 183.36 points to 12,988.54.

The FBM Emas Index was up 114.51 points to 9,573.56, the FBM Mid 70 Index earned 167.72 points to 10,203.95 and the FBM Ace Index added 7.91 points to 3,654.37.

Gainers thumped losers 593 to 171 while 248 counters were unchanged with 465 untraded and 23 others suspended.

A total of 1.06 billion shares, worth RM1.376 billion changed hands compared with the 584.909 million shares, worth RM632.688 million yesterday.

Among active counters, Dutaland-WA added one sen to 12.5 sen, Time Dotcom advanced four sen to 51 sen, SAAG Consolidated was flat at 5.5 sen and Dutaland shed one sen to 64 sen.

Of the heavyweights, Maybank rose five sen to RM8.25, CIMB and Sime Darby each added 10 sen to RM7.25 and RM8.50 respectively, and Petronas Chemicals inched up nine sen to RM5.69.

The Main Market volume decreased to 525.504 million shares worth RM1.233 billion from 426.583 million shares, worth RM615.970 million on Monday.

Turnover on the ACE Market fell to 78.23 million shares valued at RM13.42 million from 118.437 million shares, valued at RM13.340 million.

Warrants declined to 44.28 million units worth RM4.34 million from Tuesday's 36.322 million units, worth RM2.717 million.

Consumer products accounted for 37.171 million shares traded on the Main Market, industrial products 138.352 million, construction 43.562 million, trade and services 224.628 million, technology 26.782 million, infrastructure 35.564 million, finance 115.187 million, hotels 724,000, properties 119.863 million, plantations 74.826 million, mining 0, REITs 38.947 million and closed/fund 115,500.


Philippine share prices on Tuesday extended their winning streak to a fourth straight session on optimism that Europe’s debt woes will be resolved.

At the Philippine Stock Exchange, the composite index added 68.69 points, or 1.70 percent to 4,109.27, while the broader all-shares index rose 33.77 points, or 1.17 percent to 2,912.50.

Advancers led decliners, 75 to 67, while 34 stocks were unchanged. A total of 7.72 billion stocks worth P3.96 billion changed hands.

“There’s renewed optimism given the developments overseas. European leaders are committing themselves to Greece and US economic data are improving,” said Astro del Castillo, managing director at First Grade Finance Inc.

“It’s like most markets are dancing on the same tune again,” del Castillo added.

Foreigners were also on a buying spree with net foreign buying valued at P745 million.

Overnight, the Dow Jones Industrial Average surged 330.06 points, or 2.97 percent to 11,433.18. The market will continue to rely on overseas markets for day-to-day guidance, but reaction on negative news will be more defined, as a bit of cynicism may greet positive news.

But the present volatility should be welcomed following a well-defined bearish trend, said Jun Calaycay of Accord Capital Equities Corp. “This means that investors have begun to question the extent of the sell-off and has consequently started to bet on the fundamental valuations,” Calaycay said.

“We believe this to be true of stock prices overseas as well as here at home. Ergo, we adopt a general stance of cautiously increasing positions in selected counters,” he added. Asian currencies were mixed Tuesday as European leaders pledged to protect the region’s banks from a debt crisis.

At the Philippine Dealing System, the peso snapped a four-day rally against the dollar, shedding 11 centavos to close at 43.470 to the greenback from 43.360 the previous trading day. The dollar-peso currency exchange rate opened at 43.20 with bids ranging to a high of 43.470 and to a low of 43.170.

Total trading volume reached $1.084 billion from $931.650 million previously. The currency pair is expected to trade within a 43.20 to 44.20 range for the week.


Singapore shares closed higher on Tuesday, with the benchmark Straits Times Index at 2,693.05, up 0.93 percent, or 24.75 points.

About 1.5 billion shares exchanged hands.

Gainers beat losers 347 to 135.


The Stock Exchange of Thailand (SET) composite index on Tuesday gained 21.63 points, or 2.34 percent, to close at 944.80 points. The market value was 36.82 billion baht, with 6.37 billion shares traded.

The SET50 index rose 17.95 points, or 2.77 percent, to stay at 665.75 points, with a total transaction value of 28.12 billion baht.

The SET100 index ended the session at 1,439.03 points, up 37.80 points, or 2.70 percent, with a total trade value of 32.57 billion baht.

The SETHD index increased 24.82 points, or 2.73 percent, to stay at 934.41 points, with a total market value of 12.06 billion baht.

The Market for Alternative Investment (mai) index moved up 5.65 points, or 2.44 percent, to close at 237.09 points, with a total turnover of 541.26 million baht.

Top five most active values were as follows;

PTT closed at 292.00 baht, up by 12.00 baht, or 4.29 percent.

SCC closed at 287.00 baht, up by 12.00 baht, or 4.36 percent.

KTB closed at 15.50 baht, up by 1.00 baht, or 6.90 percent.

KBANK closed at 120.00 baht, up by 4.50 baht, or 3.90 percent.

BBL closed at 148.00 baht, up by 5.00 baht, or 3.50 percent.


The HCM City Stock Exchange's benchmark VN-Index failed to sustain Monday's gains and closed down 0.46 percent Tuesday to 417.73 points.

Nearly half of all listed codes posted losses, although the value of trades rose by 24 percent over Monday's level to VND443.94 billion (US$21.4 million), with 28.8 million shares changing hands.

Blue chips tumbled, with seven of the 10 leading shares by capitalisation slumping, and only software giant FPT and Phu My Fertilisers (DPM) seeing modest gains.

Becamex Infrastructure Co (IJC) was the most-active share, with 2.1 million traded, but it lost 4.1 percent to conclude at the session at VND11,600 per share.

The HCM City market performed weakly despite strong global markets in the wake of an apparent resolution of European debt issues, with leaders of the two leading European economies, Germany and France, pledging to bail out struggling banks.

Things were a bit more optimistic on the Ha Noi Stock Exchange, where the HNX-Index closed up 0.67 percent to 70.93 points despite scant trading. The value of trades inched up only 2 per- cent over the previous session to VND252.5 billion ($12.2 billion) on a volume of 25.1 million shares.

"Demand was weak, with buy orders mostly placed below reference prices, while sellers are no longer accepting low prices," said Tan Viet Securities Co analysts.

Sai Gon-Ha Noi Bank (SHB) was the most-active share on the northern bourse, with nearly 2.1 million traded. SHB hit its ceiling price of VND7,900 per share.

Foreign investors were sellers on both bourses, unloading a combined net of VND12 billion ($579,700) worth of shares.


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