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ASEAN STOCK WATCH Asean Affairs   2 September  2011

Asean Stock Watch- September 2



Overnight, a better-than-expected US manufacturing data allowed Wall Street to get back in the black for its year-to-date performance. The Dow Jones Industrial Average finished up 53.58 points, or 0.46 percent, at 11,613.53.

“Investors abroad used better than expected data as the impetus to push share prices higher. The US is also expecting the Fed to do something in order to help the world’s largest economy,” Prince Anthony Yeung of AB Capital Securities Inc., Manila, said.


Indonesia's stock market will be closed for a week for Eid al--Fitr holiday starting on Monday, August 29. Trading will resume on Monday, September 5


The FBM KLCI opened higher in Friday's early trade with the index climbing 33.87 points to 1,481.14 points at 9.01am, with heavyweights lifting the market barometer up.

Investors were seen nibbling on selected blue chip stocks after a three-day Hari Raya celebrations hiatus.

Among the gainers were Malayan Banking Bhd, which rose 0.23 percent to RM8.95, Sime Darby Bhd gained 0.21 percent to RM9, and IOI Corp Bhd perked 0.18 percent to RM4.69.

Regional bourses were mostly down. Tokyo's Nikkei 225 fell 0.82 percent to 8,986.31.

Shanghai's A index was flat at 2,555.93 while Taiwan's Taiex Index was up 0.09 percent to 7,764.40.

Seoul's Kospi Index dipped 0.02 percent to 1,880.40, and Singapore's Straits Times Index shed 0.09% to 2,864.64.

Nymex crude oil lost two cents to US$88.91 per barrel. Spot gold climbed US$1.78 to US$1,827.93 per ounce. The ringgit was quoted at 2.968 to the US dollar.


Index heavyweights on Thursday lifted the Philippine stock market for the second straight session, drawing inspiration from the gains in Wall Street.

At the Philippine Stock Exchange, the composite index jumped 18.09 points, or 0.42 percent to 4,366.59, while the broader all-shares index inched up 8.59 points, or 0.28 percent to 3,050.26.

Losers beat gainers, 66 to 65, while 35 stocks were unchanged. A total of 8.58 billion stocks worth P6.06 billion changed hands.

Leading the charge was Philippine Long Distance Telephone Co., which rose 1.26 percent to P2,420. Ayala Land Inc. and SM Investments Corp. also rose 2.26 percent and 2.04 percent, respectively.

Alliance Global Group Inc., Metropolitan Bank & Trust Co. and Banco de Oro Unibank Inc. were also among the best performing stocks.

Overnight, a better-than-expected US manufacturing data allowed Wall Street to get back in the black for its year-to-date performance. The Dow Jones Industrial Average finished up 53.58 points, or 0.46 percent, at 11,613.53.

Given the positive developments in US markets, the PSEi may close the holiday-shortened week on a high note, but the analyst warned investors to exercise caution.

“The problems of the US and the Euro zone will not disappear overnight. The long-term process to solve these problems will give the opportunity to more actively trade the market,” an analyst said.

Asian currencies were mostly up on Thursday, extended gains following a better-than-expected US manufacturing data.

At the Philippine Dealing System, the peso gained 5 centavos to close at 42.230 against the US dollar from 42.280 the previous trading day.

The dollar-peso pair opened at 42.250 and moved to a high of 42.280 and to a low of 42.170.

Total trading volume reached surged to $777.530 million from $511.280 million the previous day.

The currency pair is expected to trade at 42.30 to 42.60 today.


Singapore shares opened lower on Friday, with the benchmark Straits Times Index at 2,860.89 in early trade, down 0.22 percent, or 6.29 points.

Around 70 million shares exchanged hands.

Losers beat gainers 87 to 56.


The Stock Exchange of Thailand (SET) composite index on Thursday lost 0.92 point, or 0.09 per- cent, to close at 1,069.13 points. The market value was 31.39 billion baht, with 3.50 billion shares traded.

The SET50 index dropped 0.82 point, or 0.11 percent, to stay at 746.25 points, with a total transaction value of 22.50 billion baht.

The SET100 index ended the session at 1,625.62 points, down 1.76 points, or 0.11 percent, with a total trade value of 26.58 billion baht.

The SETHD stood at 1,030.49 points, down 5.47 points, or 0.53 percent, with a total market value of 7.38 billion baht.

The Market for Alternative Investment (mai) index went down 0.85 point, or 0.29 percent, to close at 294.54 points, with a total turnover of 350.54 million baht.

Top five most active values were as follows;

BBL closed at 160.50 baht, up by 0.50 baht, or 0.31 percent.

PTT closed at 330.00 baht, up by 1.00 baht, or 0.30 percent.

KBANK closed at 128.50 baht, up by 1.00 baht, or 0.78 percent.

SCB closed at 118.50 baht, down by 0.50 baht, or 0.42 percent.

BANPU remained at 632.00 baht.


Shares on both national stock exchanges on Thursday maintained their upward trend for the week, with the VN-Index closing out the shortened trading week at 435.29 points, a gain of 2.5 percent over Wednesday's level.

The exchanges are dark today in celebration of National Day.

Meanwhile, the value of trades on the HCM City Stock Exchange yesterday edged up about 3 per cent to VND805.3 billion (US$39.1 million), with volume reaching 50 million shares.

The daily combined market value in both Ha Noi and HCM City continued at around VND1.3-1.5 trillion ($63.1-72.8 million) throughout the whole week.

"However, trading in large quantities will soon deplete whatever capital is being directed toward the market," BIDV Securities Co analyst Hoang Anh Tuan wrote in a note.

Many investors had doubted if the market could maintain its upward momentum until the final session of the week.

"However, Circular No 22, newly issued by the State Bank of Viet Nam to amend capital adequacy provisions applicable to banks, has made investors more optimistic about market prospects," said Tan Viet Securities Co analysts.

The circular allows banks to lend up to 80 percent of deposits and will help credit institutions with capital shortages beef up credit growth that has so far fallen short of this year's 20-per-cent growth target.

"The increase in net capital available to commercial banks signals positive credit flows in the near future," said Bao Viet Securities Co analyst Tran Hai Yen.

Banking shares advanced strongly yesterday, with most of the leading banks hitting their ceiling prices, including Vietinbank (CTG), Eximbank (EIB) and Vietcombank (VCB). On the Ha Noi Stock Exchange, Asia Commercial Bank (ACB) also hit the 5-per-cent limit.

PetroVietnam Finance (PVF) and real estate developer Vincom (VIC) also reached their ceiling prices. Among bluechips, only property developer Hoang Anh Gia Lai (HAG) lost ground.

On the Ha Noi Stock Exchange yesterday, the HNX-Index also rose by 3 percent to end the trading week at 75.36 points, with 216 out of 386 codes posting gains.

Market value dropped 16.2 per cent from the previous session, however, to just VND620.9 billion ($30 million), while volume on the northern bourse slid 19.4 per cent to just 53.2 million shares.

Kim Long Securities Co (KLS) was the most-active share with 6.8 million traded.

Foreign investors were net sellers on the southern bourse, unloading a net of VND21.4 billion (US$1 million), while they were net buyers in Ha Noi by a net value of only VND1.7 billion ($82,500).



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