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ASEAN STOCK WATCH Asean Affairs   7 October  2011

Asean Stock Watch- October 7



The Dow Jones Industrial Average gained 183.38 points, or 1.68 percent, to close at 11,123.33, above the important 11,000 mark.

The S&P 500 rose 20.94 points, or 1.83 percent, to end at 1,164.97. All 10 S&P sectors ended in the black, led by banks and materials.

The Nasdaq jumped 46.31 points, or 1.88 percent, to close at 2,506.82.


Stocks continued their advance for a second day on Thursday as local investors kept on putting their faith in the local equity market amid optimism that the debt crisis in Western Europe would not worsen.

The Jakarta Composite Index rose 149.87 points, or 4.6 percent, to 3,443.11, extending Wednesday’s 0.7 percent gain. About 4.6 billion shares worth Rp 5.3 trillion ($594 million) changed hands at the Indonesia Stock Exchange.

Foreign investors bought Rp 39 billion more in shares than they sold, having sold a net of Rp 502 billion on Wednesday.

Markets across the region also rose on expectations that euro zone leaders would take measures to prevent Greece from defaulting. Benchmark stock indexes in Hong Kong and Thailand surged by more than 5 percent, while measures in South Korea and Australia exceeded 3 percent.

“The pressure of foreign selling has eased, confidence of domestic investors improved and there are some new positive developments about the European crisis,” said Edwin Sebayang, the head of research at MNC Securities in Jakarta.

Analysts said investors put some of their funds in blue-chip stocks including Astra International and banks like Bank Mandiri and Bank Rakyat Indonesia.

“The dominant factors are cheap valuation, a stable rupiah and improved confidence from investors about the market,” Edwin said.

Astra International, the country’s largest automotive retailer, rose 5.9 percent to Rp 60,700. Astra International said it planned to spend $1.5 billion next year to help expand its business, company director Gunawan Geniusahardja said on Wednesday.

Bank Mandiri, the country’s largest lender by assets, rose 7.1 percent to Rp 6,050, while Bank Rakyat Indonesia, the second-biggest, jumped 10 percent to Rp 5,950.

Telekomunikasi Indonesia, the biggest telecommunications operator, fell 1.3 percent to Rp 7,600 after shelving its plan to buy into Cambodia’s Cam GSM as other bidders expressed interest, Telkom’s finance director Sudiro Asno said on Wednesday.

He added that the company was also aiming to acquire domestic telecommunication assets.

“We are focusing our target in the domestic market, both organically and inorganically,” he said.

In the currency and bond markets, the rupiah strengthened 0.2 percent against the US dollar to trade at 8,925 on Thursday.

The yield of the five-year government bond fell to 6.409 percent on Thursday from 6.539 percent on Wednesday. Bond yields move in the opposite direction of bond price.


The benchmark FBM KLCI ended higher Thursday by 18.02 points or 1.31 percent to 1,393.69 as positive news on solving issues in debt-laden eurozone has injected confidence in some investors to re-enter the market.

Volume stood at 994.2 million shares with a turnover of RM1.4 billion.

The gainers were leading the losers with 535 counters up, 186 down the 257 remained unchanged, The top three gainers were Nestle that gained RM1 sen to RM49, F&N added 36 sen to RM16.30 and LMCEMNT was up 31 sen to RM6.88.

As for the heavyweights, Maybank gained 16 sen to RM8.17, CIMB increased 23 sen to RM7.06 and TNB added 17 sen to RM5.22.

Although the market has further recovered today, HwangDBs Vickers Research reckoned that the benchmark index would probably struggle to break past the immediate resistance hurdle of 1,395 anytime soon,” it said in a market preview note to clients today.

Abroad, HwangDBS said investors' sentiment should hold up following the market rebounds staged by Europe and U.S. yesterday.

“Major equity indices were up in U.K. at an average of 3.2 percent) and on Wall Street between 1.2 percent and 2.3 percent on improving economic statistics and hopes that policymakers would act to contain the European debt crisis,” it said.


Most Philippine stock prices came out of a three-day slump on Thursday as investors took heart from signs of US economic growth in September and started picking up bargains.

The main-share Philippine Stock Exchange index went up by 1.76 percent, or 67.39 points, to finish at 3,890.52 as all counters gained ground. The recovery was led by the holding firm and mining/oil sub-indices, which surged by 3.4 percent and 3 percent, respectively. Turnover totaled P4.3 billion.

There were nearly three gainers for every single decliner for the day.

Bargain-hunters were emboldened by the second day of Wall Street run-up. On Wednesday, the Dow Jones Industrial Index gained 131.24 points, or 1.2 percent, to 10,939.95. Investors rejoiced at signs that the US economy, widely feared to be on the brink of another recession, had expanded in September.

Justino Calaycay Jr., a dealer at Accord Capital Equities Corp., said smart money “should stay on the prowl for fundamental bargains, adopt a long-term outlook and utilize a cost-averaging trading strategy to weather this storm and position for above-average returns moving forward.”

The index was led higher by Metro Pacific Investments, PLDT, AGI, DMCI, Megaworld, Metrobank, ALI, ICTSI, SM Investments, BDO, Aboitiz Power, EDC, Manila Water and Ayala Corp. Lepanto A (for local investors) and B (for both local and foreign investors) also gained in heavy trade. On the other hand, BPI and Security Bank traded lower. Newly listed Puregold fell for the second day after listing, ending 2.9 percent lower at P10.68 per share.


Singapore shares closed higher on Thursday, with the benchmark Straits Times Index at 2,603.12, up 2.94 percent, or 74.41 points.

About 1.4 billion shares exchanged hands.

Gainers beat losers 308 to 141.


The Stock Exchange of Thailand main index went up 51.07 points or 5.92 percent to close at 913.72 points at the end of trading session on Thursday. The trade value was 33.34 billion baht, with 4.17 billion shares traded.

The SET50 index ended at 639.21 points, up 40.35 points or 6.74 percent, with a total trade value of 27.47 billion baht.

The SET100 index rose 85.68 points or 6.60 percent to stand at 1,382.21 points, with a total turnover of 30.89 billion baht.

The SETHD index went up 56.73 points or 6.70 percent to stand at 903.68 points, with total trade value of 9.92 billion baht.

The MAI index gained 7.31 points or 3.21 percent to close at 234.84 points, with total transaction value of 273.01 million baht.

Top five most active values were as follows;

PTT closed at 275.00 baht, up 25.00 baht (10.00 percent)

KTB closed at 14.30 baht, up 1.00 baht (7.52 percent)

PTTCH closed at 98.50 baht, up 7.75 baht (8.54 percent)

KBANK closed at 112.50 baht, up 7.00 baht (6.64 percent)

BBL closed at 140.00 baht, up 11.50 baht (8.95 percent)


Stocks rebounded Thursday on both of Vietnam's stock exchanges with more than 60 percent of codes posting gains, as investors increased buying after several declining sessions.

On the HCM Stock Exchange, the VN-Index rose 1 percent to close this morning at 421.32 points. Advancers were nearly five times higher than decliners.

Trading value continued to rise by over 11 percent to nearly VND663.2 billion (US$31.9 million) on a volume of nearly 39.4 million shares.

Blue chips recovered after several sluggish sessions. Both property developer Vincom (VIC) and dairy producer Vinamilk (VNM) increased 1.6 percent while insurer Bao Viet Holdings (BVH), Vietinbank (CTG) and real estate developer Hoang Anh Gia Lai (HAG) rose by under 1 percent.

Among the 10 largest shares led by market capitalisation, only software giant FPT Corp (FPT) fell 1 percent.

Becamex Infrastructure Development Co (IJC), with 1.63 million shares exchanged, became the most heavily-traded stock today. It hit the ceiling price of VND11,200 ($0.54).

On the Ha Noi Stock Exchange, the HNX-Index increased by another 2.5 percent, closing today's session at 72.10 points. The market value improved slightly to VND368.8 billion ($17.7 million) as over 36 million shares were traded.

Gainers overwhelmed losers by 218-51.

VNDSecurities (VND) was again the most active stock nationwide with 3.78 million shares changing hands, closing at the ceiling price of VND11,900 ($0.57)


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This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

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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