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ASEAN STOCK WATCH Asean Affairs   18 October  2011

Asean Stock Watch- October 18


The Dow Jones Industrial Average closed down 247.49 points, or 2.13 percent at 11,397

The S&P 500 fell 23.72 points, or 1.94 percent at to 1,200.86. The Nasdaq slumped 52.93 points, or 1.98 per cent, to close at 2,614.92.

All 10 S&P sectors finished firmly in the red, led by materials and financials

Crude oil at US$86.20 a barrel, while gold settled at $1,674.69 an ounce.

The Indonesian stock market on Monday headed back into positive territory, one day after it had halted the four-day winning streak in which it had spiked more than 250 points or 7.3 percent. The Jakarta Composite Index finished just below the 3,730-point plateau, and now investors are bracing for more selling pressure at the opening of trade on Tuesday.

The global forecast for the Asian markets is broadly negative following several sessions of gain. Renewed pessimism regarding the European debt situation adds to the cautious sentiment. Losses figure to be broadly based, although financials are likely to be hit especially hard. The European and U.S. markets finished sharply lower, and the Asian bourses are tipped to open the same way.

The JCI finished sharply higher on Monday following gains from the resource stocks and the energy producers.

For the day, the index climbed 65.34 points or 1.8 percent to finish at 3,729.02 after trading between 3,665.32 and 3,730.30.

Among the gainers, Medco Energi Internasional added 2.2 percent, while Energi Mega Persada collected 2.4 percent, International Nickel Indonesia spiked 12 percent and Perusahaan Perkebunan London Sumatra Indonesia jumped 3.7 percent.

Share prices on Bursa Malaysia continued its upward trend on Monday as concerns over the Eurozone debt crisis began to ease, dealers said.

Persistent buying was noted in three heavyweight counters -- Sime Darby, Tenaga and Petronas Chemicals, which pushed the FTSE Bursa Malaysia KLCI (FBM KLCI) 22.92 points higher to close at 1,465.35.

The barometer index, which opened 9.54 points higher at 1,451.97, moved between 1,451.97 and 1,465.48 throughout the day.

The Finance Index improved 52.44 points to 13,295.03, the Plantation Index surged 123.52 points to 7,432.75 and the Industrial Index increased 58.49 points to 2,690.63.

The FBM Emas Index advanced 167.95 points to 9,969.48, the FBM70 Index surged 201.46 points to 10,673.68, the FBMT100 increased 159.899 points to 9,793.77 and the FBM Ace rose 121.43 points to 4,000.5.

Gainers thumped losers 731 to 155 while 209 counters were unchanged, 376 untraded and 31 others were suspended.

Total market volume improved to 1.78 billion shares, worth RM1.752 billion, from last Friday's 1.075 billion units valued at RM1.223 billion.

Volume on the Main Market also rose to 1.342 billion shares, valued at RM1.78 billion, against Friday 813.454 million units worth RM1.195 billion.

Turnover on the ACE market increased to 216.284 million units, worth RM31.378 million, from 114.013 million shares, valued at RM17.002 million, registered previously.

Warrants surged to 209.31 million units, worth RM16.07 million, compared with 141.461 million units, valued at RM7.31 million, recorded previously.

Top gainers, Tenaga gained 37 sen to RM5.57, Sime Darby improved 35 sen to RM8.90 and Panasonic Manufacturing rose 30 sen to RM20.50.

Among actives, Harvest Court added six sen to 20.5 sen while SAAG Consolidated and YTL Land-CA: CW edged up one sen each to seven sen and two sen, respectively.

As for heavyweights, Maybank rose four sen to RM8.33, CIMB increased seven sen to RM7.37 and Petronas Chemicals surged 22 sen to RM6.14.

Consumer products accounted for 56.834 million shares traded on the Main Market, industrial products 341.345 million, construction 88.52 million, trade and services 360.879million, technology 29.145 million, infrastructure 30.496 million, finance 149.744 million, hotels 2.132 million, properties 217.47 million, plantation 45.551 million, mining 51,500, REITs 2.477 million and closed/fund 76,400.

Philippine share prices on Monday resumed their rally to extend gains for an eighth straight session after the Group of 20 finance leaders came up with a comprehensive plan to address the euro area’s debt woes and re-capitalize its banks.

At the Philippine Stock Exchange, the composite index rose 61.05 points, or 1.47 percent to 4,214.45, while the broader all-shares index gained 27.84 points, or 0.95 percent to 2,970.91.

Gainers overwhelmed losers, 106 to 40, while 32 stocks were unchanged. A total of 8.71 billion stocks worth P3.73 billion changed hands.

Local share prices tracked the movement in Asian stocks after G-20 leaders endorsed parts of a plan to prevent a Greek default, strengthen banks and avoid contagion. They also set a make-or-break European Union summit on October 23 as the deadline for the plan to be delivered.

After eight successive trading days of ascent, a correction can be coming “very soon” to the market, said Bonner Dytoc, senior instructor at Absolute Trading & Consulting Services Inc.

Asian currencies also advanced Monday, bolstered by improved data from the US, coupled with Europe’s renewed efforts to contain its debt crisis.

At the Philippine Dealing System, the peso was buoyed by the continued resilience in remittances, which grew by double-digits in August.
The local unit gained 24 centavos to close at 43.115 against the US dollar on Monday from 43.355 last Friday. The dollar-peso pair opened at 43.250 and moved to a high of 43.255 and to a low of 43.115.

Total trading volume fell to $825.650 million from the $939.720 million last Friday.

The exchange rate is expected to trade at the 43 to 43.50 range within the week.

Singapore shares were lower at 12.43 p.m. on Tuesday, with the benchmark Straits Times Index at 2,731.48, down 1.71 percent, or 47.49 points.

About 652 million shares exchanged hands.

Losers beat gainers 339 to 65.

The Stock Exchange of Thailand main index went up 15.82 points or 1.66 percent to close at 971.63 points at the end of trading session on Monday afternoon. The trade value was 25.21 billion baht, with 3.72 billion shares traded.

The SET50 index ended at 686.26 points, up 12.83 points or 1.91 percent, with a total trade value of 18.61 billion baht.

The SET100 index rose 27.29 points or 1.87 percent to stand at 1,484.71 points, with a total turnover of 22.46 billion baht.

The SETHD index went up 20.53 points or 2.17 percent to stand at 965.67 points, with total trade value of 8.33 billion baht.

The MAI index dropped 0.73 points or 0.30 percent to close at 246.63 points, with total transaction value of 788.13 million baht.


Top five most active values were as follows;

PTT            closed at   300.00 baht, up 8.00 baht (2.74 percent)
SCC            closed at   306.00 baht, up 12.00 baht (4.08 percent)
CPF            closed at     29.75 baht, up 1.50 baht (5.31 percent)
BANPU        closed at   606.00 baht, up 32.00 baht (5.57 percent)
IVL             closed at     35.25 baht, up 2.50 baht (7.63 percent)

Shares closed down on both national stock exchanges on Monday despite opening in positive territory.

On the HCM Stock Exchange, the VN-Index lost 0.88 percent over Friday's close to finish today's session at 410.84 points. Market value rose over 34 percent to VND442.5 billion (US$21 million), with 26.2 million shares changing hands

Decliners tripled advancers. One-forth of those that lost value dropped by the daily limit of nearly 5 percent.
Blue chips tumbled. Among the 10 largest shares led by market capitalisation, only food producer Masan Group (MSN) gained, increasing 0.9 percent.

Eximbank (EIB) was the most actively traded stock, with 1.4 million shares exchanged. However, the share price closed down nearly 4 percent to VND14,900 ($0.71).
On the Ha Noi Stock Exchange, the HNX-Index declined over 1 percent to close at 68.46 points. Today's trading remained sluggish with just 25.8 million shares worth VMD251.5 billion ($12 million) changing hands.

Losers outnumbered gainers by 154-61.
Kim Long Securities Co (KLS) saw the highest volume of 2.2 million shares traded.

In the first nine months of the year, the company earned VND139 billion ($6.6 million). However, the share price today slid 2.8 per cent to close today at VND10,400 ($0.50).


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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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