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ASEAN STOCK WATCH Asean Affairs  10 September  2014 


Singapore

10 September 2014

The Straits Times Index (STI) ended -4.33 points lower or -0.13% to 3338.63, taking the year-to-date performance to +5.49%.

The FTSE ST Mid Cap Index declined -0.41% while the FTSE ST Small Cap Index declined -0.23%. The top active stocks were DBS (-0.60%), UOB (-0.13%), SingTel (unchanged), ThaiBev (+3.52) and CapitaLand (-1.21).

The outperforming sectors today were represented by the FTSE ST Consumer Goods Index (+1.22%). The two biggest stocks of the FTSE ST Consumer Goods Index are Wilmar International (unchanged) and Thai Beverage (+3.52%). The underperforming sector was the FTSE ST Basic Materials Index, which declined -0.77% with Midas Holdings' share price declining -1.28% and Geo Energy Resources’ share price unchanged. The FTSE ST Consumer Services Index declined -0.17%.  The FTSE ST Real Estate Index declined -0.45%. The FTSE ST Utilities Index declined -0.21%.

The three most active Exchange Traded Funds (ETFs) by value today were the SPDR Gold Shares (-0.16%), IS MSCI India (-0.26%), DBXT MSCI Indonesia ETF (-1.53%).

The three most active Real Estate Investment Trusts (REITs) by value were CapitaMall Trust (-0.25%), CapitaCommercial Trust (-0.89%), Ascendas REIT (-0.42%).

The most active index warrants by value today were HSI25200MBeCW141030 (-30.83%), HSI25000MBePW141030 (+30.71%), HSI24600MBePW140929 (+50.00%).

The most active stock warrants by value today were DBS MB eCW150106 (-5.44%), UOB MB eCW141201 (-6.04%), KepCorp MBeCW141201 (unchanged).
 
 Singapore Stock Market
                            Wednesday                Tuesday
*ST Index          3,338.63  -4.33     3,342.96  +7.77
Volume:                  1,102.8M              1,052.3M
Value:                      $878.4M               $661.1M
Gainers/Losers:         156/275                 188/225


Malaysia

Daily Market Commentary (Securities)
9 Sep 2014

The FBM KLCI index gained 3.03 points or 0.16% on Tuesday. The Finance Index fell 0.06% to 17557.28 points, the Properties Index dropped 0.06% to 1508.51 points and the Plantation Index down 0.15% to 8524.57 points. The market traded within a range of 8.23 points between an intra-day high of 1876.21 and a low of 1867.98 during the session.

Actively traded stocks include GLOTEC, AT, RGB, KTB, ASIABIO, IFCAMSC, EFFICEN, SUMATEC, PDZ and REACH-WA. Trading volume decreased to 2455.83 mil shares worth RM2016.52 mil as compared to Monday’s 2682.82 mil shares worth RM1929.42 mil.

Leading Movers were KLCC (+11 sen to RM6.75), GENM (+6 sen to RM4.32), TM (+7 sen to RM6.42), DIGI (+6 sen to RM5.85) and CIMB (+7 sen to RM7.32). Lagging Movers were PPB (-13 sen to RM14.80), HLBANK (-18 sen to RM14.64), FGV (-4 sen to RM3.81), KLK (-22 sen to RM21.98) and YTL (-1 sen to RM1.63). Market breadth was positive with 474 gainers as compared to 353 losers.

The KLCI reversed earlier losses by ending 3.03 points higher at 1874.12, despite the overnight decline in Wall Street. The performance of our benchmark index was underpinned by gains in telecommunication and Petronas-linked counters.


Indonesia

Trade Summary
Date As of:     10 September 2014    
Description               Volume                           Value       Frequency
Total              5,830,732,699     5,441,697,220,022          220,924
ETF                           19,400                 12,331,600                 175
Stock             5,748,262,499     5,437,872,896,022          219,549
Warrant               82,450,800            3,811,992,400               1,200


Thailand

Thai alternative bourse welcomes IT service provider CCN-Tech

 
BANGKOK, September 10, 2014 – Market for Alternative Investment (mai), under The Stock Exchange of Thailand (SET) group, will list CCN-Tech pcl on September 11, under the ticker symbol “CCN”. The company has a market capitalization at its initial public offering (IPO) of THB 287.5 million (approx. 8.9 million).

mai President Prapan Charoenprawatt said that CCN, the tenth new listing on mai this year, provides and distributes IT and system integration services, system consultant, design, installation, training, maintenance, and printer and computer leasing service. CCN has a paid-up registered capital of THB 115 million, consisting of 170 million existing common shares and 60 million newly-issued shares, with a par value of THB 0.50. It sold the new shares to the general public via initial public offerings (IPOs) at THB 1.25 during September 2-4 for the total of THB 75 million. Country Group Securities pcl is its financial advisor and lead underwriter.

Virat Anurakputti, CCN's managing director, said that the company was very delightful to list its shares on mai. The listing would help enhance the company’s image, financial strength, and business opportunities. Proceeds of the fundraising would be used for working capital to ensure financial flexibility and business expansions, resulting in strong and sustainable earnings growth eventually.

CCN's three major shareholders after the IPOs are Virat Anurakputti (22.58 percent), Apisit Honglawan (17.89 percent), and Dullapak Pengpanpat (16.81 percent). The IPO price was equivalent to price per earnings ratio (P/E ratio) of 14.08 times, calculated by using the company's net profit in the last four quarters (Q3/2013 – Q2/2014) divided by fully diluted shares, representing earnings per share of THB 0.089. CCN's dividend policy is to pay no less than 40 percent of net profits after taxes and reserves.

 For more information on CCN, please see the company's prospectus at the Securities and Exchange Commission's website at www.sec.or.th and general information at the company's website at www.ccn-tech.co.th as well as www.mai.or.th .


**********************

Thai bourse joins UN Sustainable Stock Exchanges Initiative
 
BANGKOK, September 10, 2014 - The Stock Exchange of Thailand today announced that it has partnered with the UN Sustainable Stock Exchanges Initiative (UN SSE Initiative), becoming the first ASEAN exchange to join other 12 leading exchanges that have publicly committed to promoting sustainable practices. This underlines SET’s aims to develop sustainability of the exchange and the Thai capital market in a concrete way.

SET Chairman Sathit Limpongpan said that the Thai exchange in July signed the voluntary commitment with the UN SSE Initiative, committed to working with investors, companies and regulators to promote long-term sustainability through enhancing corporate transparency and performance on environmental, social and governance (ESG) issues among the listed companies, and encouraging responsible long-term approaches to investment among investors.

In October, SET will share its intention to the proactive approach to sustainable development during the SSE Global Dialogue to be held at the United Nations in Geneva, Switzerland.
 
“To be the first exchange in ASEAN joining the SSE initiative reinforces our regional leadership and will enhance SET’s international recognition. This follows SET’s currently remarkable sustainable development in the region, proven records by achieving the top corporate governance score ranked by ASEAN corporate governance scorecard for two years in a row (2013-2014), being Asia’s top score of Corporate Governance – Report on the Observance of Standards and Codes (CG-ROSE) in 2013 assessed by World Bank. We therefore welcome this initiative as it will allow us to share and learn the best practice with other exchanges,” Sathit said.
 
SET President Kesara Manchusree said the Thai bourse has created its own sustainability development framework, aiming to enhance all dimensions of quality towards sustainability of the Thai capital market, economy, society, and environment. It would focus on five key areas, namely market value, business operations, employees, society, and environment. SET would soon establish a working group to substantially construct short-, medium-, and long-term plans for these five key areas.

The UN SSE Initiative, found in 2009, is co-organized by the United Nations Conference on Trade and Development (UNCTAD), United Nations Environment Programme Finance Initiative (UNEP FI), United Nations Global Compact and UN-supported Principles for Responsible Investment (PRI). It has successfully built engagement with 12 stock exchanges worldwide, while SET is considered the first exchange in ASEAN joining the SSE Initiative.
 
Trading Summary

As of   10 September  2014         Unit: M.Baht
Type                         Buy                    Sell                Net
Institution               4,842.70         5,458.55          -615.85     
Proprietary             5,197.65         5,884.67          -687.03     
Foreign                10,508.16        10,731.98          -223.82     
Individual             38,523.33        36,996.63         1,526.70     
Total Trading Value     59,071.83 M.Baht     


Vietnam

Vietnam index rebounds 0.3 pct on bargain hunting


Vietnam's benchmark VN Index    rallied 0.3 percent to 628.8 on Tuesday as bargain hunting prevented shares from extending the sharp drop seen in
the previous session.

Sentiment picked up towards the afternoon session, and the number of rising stocks quadrupled those that lost at the close, Reuters data showed.
    
"Usually, after a strong fall, the index will have a slight gain session, followed by another decline," said analyst Hoang Huy of ACB Securities, adding that he expected 620-625 to be a strong support level for the benchmark.

Vietnamese shares dropped to their lowest in two weeks on Tuesday as investors took profits from solid gains since late August that had boosted the index to a nearly five-year high.
    
Analysts, however, maintained their mid-term view of a rising trend for the market, as inflows were expected to be steady towards the end of the year.
    
Large-caps led the gainers, with PetroVietNam Gas, the country's top firm by market value, rising 0.83 percent, and top insurer Baoviet Holdings    advancing 1.98 percent.
    
Here is a snapshot of the VN Index    at the close

                       VN Index        628.8            
              PREV. CLOSE       626.92            
                 % CHANGE        0.30%            
                                                  
                     HIGH       630.03            
                      LOW       618.54            
                                        

Asean

SE Asia Stocks-Indonesia dips to lowest since July


 Indonesia's key stock market index posted its worst drop in two months on Wednesday amid outflows and losses in large-caps as the prospect of a
sooner-than-expected U.S. rate hike triggered selling across markets in Southeast Asia.
    
Jakarta's Composite Index   closed down 1.04 percent the biggest one-day fall since July 11. Shares of Astra International , the most actively traded stock, slipped 2.3 percent due to selling by foreign investors.
    
The Indonesian stock market saw net selling by foreign investors of 816 billion rupiah ($69.11 million).
   
Other markets also posted net foreign outflows as Asian shares tumbled on Wednesday, with MSCI's broadest index of Asia-Pacific shares outside Japan   down 1.3 percent.
    
Investors expect the U.S. Federal Reserve to keep interest rates lower for longer, and to raise them more slowly than the makers of U.S monetary policy themselves expect, according to research published Monday by the San Francisco Fed.
   
 Malaysia   posted net foreign outflow worth 94.62 million ringgit ($29.57 million) and Thailand   reported a net outflow of 224 million baht ($6.96 million).
     
 
SOUTHEAST ASIAN STOCK MARKETS

 Market                     Current        Prev Close     Pct Move
 Singapore                3338.63           3342.96           -0.13
 Kuala Lumpur         1870.85           1874.12           -0.17
 Bangkok                 1582.13           1583.18           -0.07
 Jakarta                    5142.99           5197.12           -1.04
 Manila                     7212.78           7253.67           -0.56
 Ho Chi Minh              628.80             626.92          +0.30
 




 
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ASEAN  ANALYSIS

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.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


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