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ASEAN STOCK WATCH Asean Affairs   14 October  2011

Asean Stock Watch- October 14



Overnight gains on Wall Street sent the Dow Jones Industrial Average back to positive territory for the year. The Dow has extended its winning streak to a sixth session, surging 155 points, or 1.37 percent to 11,571.30.


Expectations of strong third-quarter financial results by Indonesian companies and positive news out of the euro zone lifted investor sentiment in the stock market on Thursday.

The Jakarta Composite Index gained 39.45 points, or 1.1 percent, to close at 3,675.38. That brought its gain in four days to 7.3 percent and pared its loss for the year to 0.8 percent. Gainers outnumbered decliners by 164 to 68.

More than 9 billion shares worth Rp 6.03 trillion ($681 million) changed hands. Trading by volume each day this week was 6.5 billion shares, 55 percent more than last week’s daily average.

Companies will begin reporting earnings for the third quarter starting next week.

“Investors expect the earnings to be good in the third quarter this year, even with the not-so-conducive global economy,” said Pardomuan Sihombing, head researcher at Recapital Securities.

He also said attempts to alleviate Europe’s debt crisis have eased volatility in global markets, creating positive investor sentiment.

The rupiah, which has been under pressure in recent weeks, rose 0.4 percent to trade at 8,910 against the dollar. International investors continued to enter the market by buying Rp 944 billion more in shares than they sold on Thursday. Combined with net buying of the previous two days, foreign investors have bought Rp 2.11 trillion more than they sold.

Pardomuan said consumer-based stocks are expected to see high revenue in the third quarter.

Indofood Sukses Makmur, the largest noodle maker, rose 4.7 percent to Rp 5,550. Mitra Adi Perkasa, the sole franchiser of brands like Zara and Nine West, jumped 11 percent to Rp 4,900.

Pardomuan also expects commodity-based stocks to report good earnings despite worries over slowing demand globally.

“Most of these companies sell their commodities based on contract and very little on spot price, so there is very little distortion in their earnings,” he said.

State-run coal miner Tambang Batu Bara Bukit Asam rose 7.4 percent to Rp 17,000. SMR Utama, a newly-listed manganese miner, jumped 25 percent to Rp 750.


The FBM KLCI ended Thursday trading up 16 points or 1.15 percent to 1,444.87. Market breadth is positive with 677 counters up and 174 down.

Other key Asian markets also end mostly higher, taking their cue from strong overnight markets overseas.

"Our benchmark FBM KLCI would probably stay above its immediate resistance turned support level of 1,415 for now," said Hwang DBS told clients in the morning.

In the broader Bursa, counters that chalked among the highest gains included timber and small-cap property stocks.


Philippine share prices on Thursday extended gains on improving risk appetite after European leaders moved a step closer to resolve the region’s debt crisis.

At the Philippine Stock Exchange, the composite index added 14.77 points, or 0.36 percent to 3,134.48, while the broader all-shares index jumped 17.82 points, or 0.61 percent to 2,939.40.

Advancers led decliners, 84 to 64, while 34 stocks were unchanged. A total of 5.49 billion stocks worth P4.91 billion changed hands.

“The market was up today due to sizeable developments coming from detailed plans that might be resolved within the eurozone,” said Freya Natividad, investment analyst at

The eurozone rescue fund is set to get the approval from all European Union members after Slovakian lawmakers agreed to ratify a deal to boost the rescue fund.

European Commission President Jose Manuel Barroso also unveiled a plan to boost European banks and reduce Greece’s debt.

“For tomorrow, the possibility of profit taking is seen given the local market’s recent ascent,” Natividad said. The PSEi has staged a six-day rally and is now nearing its medium term resistance of 4,150 to 4,200. Support is pegged at the 4,080 to 4,100 levels.

Asian currencies were mixed Thursday. At the Philippine Dealing System, the peso gained 35 centavos to close at 43.370 against the US dollar from 43.405 the previous trading day.

The dollar-peso pair opened at 43.250 and moved to a high of 43.370 and to a low of 43.130.

Total trading volume eased to $839.80 million from $1.006 million on Wednesday. The currency pair is expected to trade within a 43.20 to 44.20 range today.


Singapore shares closed 0.14 percent lower on Thursday. The STI was down 3.78 points at 2733.97. About 1.7 billion shares were traded.

Gainers beat losers 305 to 186.


The Stock Exchange of Thailand main index declined 15.95 points or 1.67 percent to close at 936.82 points at the end of trading session on Thursday. The trade value was 25.72 billion baht, with 5.49 billion shares traded.

The SET50 index ended at 658.17 points, down 13.32 points or 1.98 percent, with a total trade value of 17.71 billion baht.

The SET100 index fell 27.77 points or 1.91 percent to stand at 1,424.71 points, with a total turnover of 22.56 billion baht.

The SETHD index went down 14.90 points or 1.58 percent to stand at 926.06 points, with total trade value of 7.31 billion baht.

The MAI index dropped 0.05 points or 0.02 percent to close at 246.42 points, with total transaction value of 825.24 million baht.

Top five most active values were as follows;

PTT closed at 284.00 baht, down 9.00 baht (3.07 percent)

JAS closed at 1.66 baht, down 0.12 baht (6.74 percent)

SCC closed at 287.00 baht, down 6.00 baht (2.05 percent)

KBANK closed at 115.50 baht, down 2.50 baht (2.12 percent)

IVL closed at 31.25 baht, down 1.50 baht (4.58 percent)


The HCM Stock Exchange saw positive movement on Thursday with the VN-Index closing up 0.4 percent to 412.59 points, with advancers overwhelming decliners by 133-80.

The value of trades reached only 85.4 percent of yesterday's session of selling off, totaling VND438.3 billion (US$21.2 million) on a volume of nearly 29.1 million shares.

Six of the 10 leading shares by capitalisation performed well, gaining between 0.4-1 percent and only Vietcombank retreated by 0.4 percent, while others ended unchanged.

Shares for property developer Hoang Quan (HQC), which were included in the list of ineligible stocks for margin trading, were the most active code with 2.25 million shares changing hands, despite falling 3.5 percent to VND11,000 per share.

On the Hanoi Stock Exchange, the HNX-Index lost 0.53 percent to conclude today's session at 69.11 points and losers outnumbered gainers by 128-99.

Trading value declined 33.7 percent against yesterday's level to VND306.5 billion ($14.8 million) with 31.2 million shares traded.

Phuong Dong Securities (ORS) saw a selling surplus of 1.5 million shares at its floor price of only VND3,000 following information that a member of the board was involved in fraud.

Kim Long Securities (KLS) again claimed the highest trading volume nationwide as 3.4 million shares were exchanged.


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This year in Thailand-what next?

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It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

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