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ASEAN STOCK WATCH 29  September  2010

ASEAN Markets will Open Higher

Shayne Heffernan

www.livetradingnews.com

ASEAN Markets will open higher after a stronger day on Wall St overnight.

Dow Jones 10,858.14 +46.10 (0.43%)

S&P 500 1,147.70 +5.54 (0.49%)

Nasdaq 2,379.59 +9.82 (0.41%)

Banpu and Genting look like posting good gains today and banks are still well under value in the ASEAN Markets.

In Singapore shares closed higher on Tuesday, with the benchmark Straits Times Index at 3,036.09, up 0.05 per cent, or 1.51 points. About 1.31 billion shares exchanged hands.

Losers beat gainers 252 to 184.

Visitor arrivals to Singapore have registered a 18 per cent growth to reach 996,000 in August this year.

The Singapore Tourism Board said this is the highest number of arrivals recorded for the month of August.

It is also the ninth consecutive month of record visitor arrivals.

The August visitor arrivals can be attributed to the ongoing draw of the two Integrated Resorts, the hosting of the inaugural Youth Olympic Games, and the continuing strength of the Asian economy, said STB.

Indonesia, China, Malaysia, Australia and India were Singapore's top five visitor-generating markets in August .

These markets accounted for 50 per cent of total visitor arrivals for August.

Midas Holdings released the final offer price for its global offering on the Hong Kong stock exchange at HK$5.43 a share.

That is equivalent to about 93 Singapore cents per share and represents a discount of 7 per cent to the firm's closing price on the Singapore Exchange on Monday.

Last week, the Singapore-listed supplier of aluminium alloy products received an approval in principle from the Hong Kong stock exchange for its proposed secondary listing.

The Stock Exchange of Thailand (SET) composite index on Tuesday lost 3.20 points or 0.33 per cent to close at 959.27 points. The market value was 41.87 billion baht, with 6.57 billion shares traded.

Ebeling Heffernan remain bullish that the Stock Exchange of Thailand should top 1,000 points easily by the end of the year and 1100 by march 1100 on the back of continued foreign fund flows.

The Stock Exchange of Thailand index closed on Friday at 951.9 points, up 4.8, thanks largely to net foreign buying of 1.01 billion baht. For the year to date, the index has gained nearly 29%, with net foreign buying more than 24 billion baht in September alone.

Top five most active values were as follows;

TRU closed at 5.15 baht, up by 0.57 baht or 12.45 per cent.

BANPU closed at 704.00 baht, down by 4.00 baht or 0.56 per cent.

TMB closed at 2.48 baht, down by 0.08 baht or 3.12 per cent.

ITD closed at 5.00 baht, up by 0.20 baht or 4.17 per cent.

PTTEP closed at 149.00 baht, down by 2.00 baht or 1.32 per cent.

In Kuala Lumpur the Bursa Malaysia fell 0.35% to close at 1459.64 points on profit taking.

Malaysian Market sentiment was cautious due to poor USA results and yesterday's sharp gains, many choose to take their profits today.

The Finance Index lost 0.16% to 13295.34 points, the Properties Index eased 0.28% to 893.01 points and the Plantation Index fell 0.33% to 6762.63 points.

The market traded within a range of 7.67 points between an intra-day high of 1465.47 and a low of 1457.80 during the session.

Actively traded stocks include KENCANA-CD, KBUNAI, SAAG, GENM-CL, UNISEM-CA, SUNREIT, HWGB, JCY, AXIATA and KNM.

Trading volume declined to 976.98 mil shares worth RM1350.89 mil as compared to Monday's 1158.46 mil shares worth RM1622.54 mil. Lagging Movers were TNB (-12 sen to RM8.88), AXIATA (-6 sen to RM4.44), IOI (-5 sen to RM5.50), GENM (-4 sen to RM3.41) and GAMUDA (-9 sen to RM3.80).

Leading Movers were Ebeling Heffernan Strong Buy GENTING (+15 sen to RM9.88), AMMB (+4 sen to RM5.78), PETD (+6 sen to RM11.06), HLFG (+3 sen to RM9.13) and UMW (+1 sen to RM6.79).

Market breadth was negative with 244 gainers as compared to 493 losers.

In Jakarta, Indonesia, the Jakarta Composite Index staged a strong rally of 70.41 points, or 2.1 percent, to close at 3,468.04, a new all-time high.

The JCI has risen 19 percent in the third quarter, making it Southeast Asia’s third-best performer after the Philippines’ 22 percent and Thailand’s 21 percent over the period.

Volume was heavy, with about 6.97 billion shares worth Rp 6.24 trillion ($692.5 million) changing hands. Gainers trounced decliners 159 to 58.

The region’s strong economic performance continued to lure foreign investors. Indonesia has recorded $1.39 billion of foreign buying so far in the third quarter, three times higher than the previous quarter.

Astra Agro Lestari, the nation’s largest listed plantation company, gained 2.1 percent to Rp 22,350, the highest close since April 28. Palm oil futures advanced 1.5 percent to 2,741 ringgit ($887) a metric ton in Kuala Lumpur, rising for a second day.

Astra International, Indonesia’s biggest automotive retailer, climbed 3.8 percent to Rp 58,100. Domestic vehicle sales in August rose to 64,762 units from 48,099 units a year earlier, Astra said, citing data from an industry association.

Astra Graphia, which sells and rents office equipment, jumped 24 percent to Rp 620, the steepest gain since April 2009. Kim Eng Securities said in a report on Monday that the company expected 2010 net income to rise 35 percent from a year earlier.

Tri Polyta Indonesia, producer of polypropylene, surged 13 percent to Rp 3,675, a record close.

Chandra Asri, also in petrochemicals, will be merged into Tri Polyta through a $1.2 billion share-swap, the two companies said in a statement published in Bisnis Indonesia on Monday.

Each share of Chandra Asri will be swapped with 42,660.5 new shares of Tri Polyta with completion of the transaction expected by January, the statement said.

Bank Central Asia, Indonesia’s biggest lender by market value, climbed 3.1 percent to Rp 6,700 amid speculation that next year’s inflation will remain benign, providing greater scope for the central bank to delay raising borrowing costs, said Muhamad Sugiarto, an analyst at Lautandhana Securindo.

The rupiah traded near a three-year high after foreign investors added to their holdings of the country’s assets, at 8,954 per dollar as of the stock market’s close “The rupiah will follow the strengthening Asian currencies on capital inflows,” said Aris Setiawan, a foreign-exchange trader at Bank Chinatrust Indonesia in Jakarta.

“The central bank has been active in the market, buying dollars this morning. The currency has room to strengthen, but Bank Indonesia wants to keep exports competitive.”

In Jakarta, Indonesia, the Jakarta Composite Index staged a strong rally of 70.41 points, or 2.1 percent, to close at 3,468.04, a new all-time high.

The JCI has risen 19 percent in the third quarter, making it Southeast Asia’s third-best performer after the Philippines’ 22 percent and Thailand’s 21 percent over the period.

Volume was heavy, with about 6.97 billion shares worth Rp 6.24 trillion ($692.5 million) changing hands. Gainers trounced decliners 159 to 58.

The region’s strong economic performance continued to lure foreign investors. Indonesia has recorded $1.39 billion of foreign buying so far in the third quarter, three times higher than the previous quarter.

Astra Agro Lestari, the nation’s largest listed plantation company, gained 2.1 percent to Rp 22,350, the highest close since April 28. Palm oil futures advanced 1.5 percent to 2,741 ringgit ($887) a metric ton in Kuala Lumpur, rising for a second day.

Astra International, Indonesia’s biggest automotive retailer, climbed 3.8 percent to Rp 58,100. Domestic vehicle sales in August rose to 64,762 units from 48,099 units a year earlier, Astra said, citing data from an industry association.

Astra Graphia, which sells and rents office equipment, jumped 24 percent to Rp 620, the steepest gain since April 2009. Kim Eng Securities said in a report on Monday that the company expected 2010 net income to rise 35 percent from a year earlier.

Tri Polyta Indonesia, producer of polypropylene, surged 13 percent to Rp 3,675, a record close.

Chandra Asri, also in petrochemicals, will be merged into Tri Polyta through a $1.2 billion share-swap, the two companies said in a statement published in Bisnis Indonesia on Monday.

Each share of Chandra Asri will be swapped with 42,660.5 new shares of Tri Polyta with completion of the transaction expected by January, the statement said.

Bank Central Asia, Indonesia’s biggest lender by market value, climbed 3.1 percent to Rp 6,700 amid speculation that next year’s inflation will remain benign, providing greater scope for the central bank to delay raising borrowing costs, said Muhamad Sugiarto, an analyst at Lautandhana Securindo.

The rupiah traded near a three-year high after foreign investors added to their holdings of the country’s assets, at 8,954 per dollar as of the stock market’s close

“The rupiah will follow the strengthening Asian currencies on capital inflows,” said Aris Setiawan, a foreign-exchange trader at Bank Chinatrust Indonesia in Jakarta.

“The central bank has been active in the market, buying dollars this morning. The currency has room to strengthen, but Bank Indonesia wants to keep exports competitive.”



 


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