ASEAN KEY DESTINATIONS
Asean Stock Watch- October 19
The Dow Jones Industrial Average closed up 180.05 points overnight, or 1.58 percent at 11,577.05 on improved sentiment over agreement to strengthen euro zone’s rescue The S&P 500 rallied 24.52 points, or 2.04 percent at 1,225.38. All of the 10 S&P sectors finished in the black, led by banks and energy.
Nasdaq composite gained 42.51 points, or 1.63 percent at 2,657.43.
"It's partly due to profit taking and partly from panic selling. For short-term investors, the gain is already high after the rally in the past week," said Jakarta-based Teddy Dwitama, analyst at broker OSK Nusadana.
"Generally, the market view is still bearish. The selling was more from domestic investors while foreign selling is quite neutral," he said.
Jakarta reported a modest $3.8 million in foreign outflows, after inflows on Monday and last week of $18.7 million and $218 million.
Technically, the JCI's recovery off the September 26 low of 3,217 should eventually rise to the August/September peak at the 4,019-4,028 area, with key short-term support for this recovery leg is at 3,579, broker CLSA said in a research note.
At 5pm, the local bourse slipped1.73 percent or 25.41 points to 1,439.94. Regional bourses were lower.
Nymex crude oil lost 64 cents to US$85.74 per barrel. Spot gold fell US$12.23 to US$1658.63 per ounce. The ringgit was quoted at 3.135 to the US dollar.
About 110.3 million shares exchanged hands.
Gainers beat losers 145 to 32
The trade value was 23.12 billion baht, with 3.15 billion shares traded.
The SET50 index ended at 672.47 points, down 13.79 points or 2.01 percent, with a total trade value of 17.58 billion baht.
The SET100 index fell 30.77 points or 2.07 percent to stand at 1,453.94 points, with a total turnover of 21.06 billion baht.
The SETHD index went down 17.83 points or 1.85 percent to stand at 947.84 points, with total trade value of 7.54 billion baht.
The MAI index dropped 3.01 points or 1.22 percent to close at 243.62 points, with total transaction value of 344.07 million baht.
Top five most active values were as follows;
IVL closed at 34.00 baht, down 1.25 baht (3.55 percent)
PTT closed at 293.00 baht, down 7.00 baht (2.33 percent)
SCC closed at 300.00 baht, down 6.00 baht (1.96 percent)
KBANK closed at 117.00 baht, down 3.50 baht (2.90 percent)
CPF closed at 29.25 baht, down 0.50 baht (1.68 percent)
The value of trades reached VND262.6 billion (US$12.68 million), a slight 4.4 percent increase over yesterday. Market volume reached 28.8 million shares.
The VN-Index on the HCM City Stock Exchange saw a steeper 1.6 percent decline, or 6.52 points, to 404.32 points. Losers outnumbered gainers by 176-46.
Trading value fell 16.4 per cent to just under VND370.1 billion ($17.87 million) on a modest volume of 24.4 million shares.
None of the 10 leading shares by market capitalisation managed gains. Only Phu My Fertiliser (DPM) tread water while others tumbled between 0.4-3.2 percent.
Most of these blue chips saw sluggish trading, with only Eximbank (EIB), the most active code in HCM City, registering a high volume of more than 1.5 million shares exchanged.
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