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ASEAN STOCK WATCH Asean Affairs   27  October  2011

Asean Stock Watch- October 27

AseanAffairs


US
Overnight, the Dow Jones Industrial Average plunged 207 points, or 1.7 percent to 11,706.62, dragged by disappointing corporate earnings and reports that a meeting of European finance ministers originally scheduled to precede the summit had been cancelled.

“The cancellation spurred fears of possible disagreements that would delay any bailout for Greece and threaten the re-capitalization of the zone’s banking system,” SB Equities said.
Set against the backdrop of an overnight bloodbath in Wall Street and in Europe, the 17-point loss “doesn’t seem alarming,” said an observer.

“The market was obviously keeping to the sidelines as it waits for progress in the unfolding European financial drama. All eyes and ears will be towards the continent this afternoon onwards,” he said.

The Dow Jones industrial average gained 1.4 percent to 11,869.04. The S&P 500 index rose 1.1 percent to 1,242. The Nasdaq composite added 0.5 percent to 2,650.67.

Indonesia
The Jakarta Composite Index was up +67.16 to3,805.77 at mid-day on Thursday. 2011 01:09:PM

Malaysia
Closed October 26

Philippines
Philippine share prices on Wednesday broke a two-day advance, tracking the losses in Wall Street, ahead of the conclusion of a European summit expected to deliver comprehensive solutions to tackle the region’s debt crisis.

At the Philippine Stock Exchange, the composite index dropped 17.76 points, or 0.42 percent to 4,224.76, while the broader all-shares index dropped 8.76 points, or 0.30 percent to 2,956.73.

Decliners beat advancers, 77 to 59, while 37 stocks were unchanged. A total of 6.83 billion stocks worth P8.63 billion changed hands.

Value turnover rose because of a P5.08-billion block sale of shares in Digital Telecommunications Philippines Inc.

“Local share prices followed a predictable pattern, following a 200-point meltdown in the Dow overnight which in turn tracked a eurozone slump,” said Jun Calaycay of Accord Capital Equities Corp.

Overnight, the Dow Jones Industrial Average plunged 207 points, or 1.7 percent to 11,706.62, dragged by disappointing corporate earnings and reports that a meeting of European finance ministers originally scheduled to precede the summit had been cancelled.

“The cancellation spurred fears of possible disagreements that would delay any bailout for Greece and threaten the re-capitalization of the zone’s banking system,” SB Equities said.
Set against the backdrop of an overnight bloodbath in Wall Street and in Europe, the 17-point loss “doesn’t seem alarming,” said Calaycay.

“The market was obviously keeping to the sidelines as it waits for progress in the unfolding European financial drama. All eyes and ears will be towards the continent this afternoon onwards,” he said.

“Unless Europe fails to come up with a plan, as scheduled and promised, the growing bias tends toward positive,” he added.

The market is expected to move between the defined range of 4,200 to 4,250, but a test of the 4,300 line may be possible based on the outcome of talks in Europe late Wednesday.

At the Philippine Dealing System, the peso-dollar pairing traded sideways, closing at 43.205 on Wednesday from 43.130 on Tuesday.

The currency pair opened at 43.190 with bids ranging from a high of 43.250 to a low of 43.190. Total trading volume eased to $747.790 million compared with $986.690 million during the previous day.

The dollar-peso pairing is expected to trade at the 43.00 to 43.30 range today.

“Later, market will watch for the results of the EU. From the US, market will watch for durable goods, new home sales and oil inventories,” a trader said.

Singapore
Singapore shares were higher at 12.44 p.m. on Thursday, with the benchmark Straits Times Index at 2,817.17, up 1.71 percent, or 47.23 points.
 

About 1.02 billion shares exchanged hands.
 

Gainers beat losers 305 to 97.

Thailand
The Stock Exchange of Thailand main index went up 13.42 points or 1.43% to close at 952.10 points at the end of trading session on Thursday morning. The trade value was 12.99 billion baht, with 1.64 billion shares traded.
 

The SET50 index ended at 675.22 points, up 10.29 points or 1.55 percent, with a total trade value of 10.49 billion baht.

The SET100 index rose 22.04 points or 1.54 percent to stand at 1,457.22 points, with a total turnover of 11.99 billion baht.

The SETHD index went up 11.11 points, or 1.18 percent, to 954.03 points, with a total turnover value of 3.46 billion baht.

The MAI index gained 2.23 points or 0.95 percent to close at 237.81 points, with total transaction value of 88.29 million baht.

Top five most active values were as follows;

PTTGC  closed at     63.75 baht, up 2.00 baht (3.24 percent)
PTT       closed at   299.00 baht, up 6.00 baht (2.05 percent)
SCB       closed at   113.00 baht, up 5.00 baht (4.63 percent)
SCC       closed at   314.00 baht, up 2.00 baht (0.64 percent)
KBANK   closed at   119.50 baht, up 1.00 baht (0.84 percent)

Vietnam
The VN-Index closed on the HCM Stock Exchange 0.64 percent higher at 414.75 points, with gainers overwhelming losers by 116-95 on Thursday.
However, trading value saw a 38.6 percent decrease from yesterday's figure to just VND347.75 billion (US$16.6 million), while the volume of trades reached 21.8 million shares.

The rally of the HCM City market was sustained by three of the 10 leading shares by capitalisation, including insurer Bao Viet Holdings (BVH) hitting its ceiling price, Vietinbank (CTG) adding 4.6 percent and property developer Hoang Anh Gia Lai (HAG) advancing 1.8 per cent. Meanwhile, others lost value or closed unchanged.

Real estate trader Hoang Quan (HQC) was the most active stock with more than 1.9 million shares changing hands.

Meanwhile on the Hanoi Stock Exchange, the HNX-Index dropped nearly 0.3 percent to 67.78 points.

Trading was sluggish. Only 21.3 million shares were traded, totaling VND202.3 billion ($9.6 million) – falling 7.1 per cent against yesterday's session.

Kim Long Securities Co (KLS) along with VNDirect Securities Co (VND) claimed the highest volume on the northern bourse, with around 1.5 million shares of each code exchanged.



 


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