Asean Market Outlook

The USA traded higher for most of the day however that rally drifted in the closing session to a flat end. In Asia today we expect that direction to follow with most markets trading lower. Hong Kong and China failed to deliver a rally yesterday and still seem very cheap. India ran up as we expected but we expect all of the ASEAN markets to come back a little tomorrow, look for bargains, long term the trend is positive.

 

Markets in Singapore and Thailand posted small gains on Wednesday, while other Southeast Asian Indexes consolidated their recent gains while they awaited direction from the USA market on  developments in the Greek debt crisis and Jobs data. India managed a good rally on the day.

Malaysia dipped 0.15 percent, Indonesia JKSE eased 0.37 percent, the Philippines PSI added 0.24 percent and Vietnam VNI rallied 1.26 percent.

In Bangkok, foreign buying momentum continued after a  huge net foreign purchase of $134.6 million on Tuesday, after the court ruling on Thaksin Shinawatra was seen as easing some political unrest. Among gainers, energy explorer PTT Exploration and Production PTTE.BK rose 1.8 percent and coal miner Banpu BANP.BK jumped 3.5 percent. THCOM.BK slumped 12.2 percent, Advanced Info Service ADVA.BK lost 2.4 percent and Shin Corp SHIN.BK dropped 3.6 percent.

In Kuala Lumpur, palm plantation firm Sime Darby  fell 0.9 percent while IOI Corp was down 0.55 percent. A top industry official said on Wednesday Malaysia, the world’s No. 2 palm oil producer, would miss its output target of 18.1 million tonnes because of a shortage of foreign labour, even as yields recover.

Axiata  gained 0.52 percent after the country’s second-largest mobile phone company said it might consider paying a dividend from 2011 as improving business conditions had helped bolster its balance sheet.

 In Jakarta, the market pulled back from its early gain to a four-week high, with Unilever  falling 2.6 percent and Telkom Indonesia 1.2 percent lower.

In Manila, food-to-power conglomerate San Miguel Corporation  rose 1.4 percent before a report after the close that it was in talks to buy a majority stake in Ausphil Tollways Corporation and gain control over a major expressway project in northern Philippines. Conglomerate Metro Pacific Investments Corp, which reported a 2009 net profit surge after the market close, rose 3.5 percent. 

 In Vietnam, the market touched its highest since Feb. 22, with top dairy product maker Vinamilk VNM.HM up 2.4 percent and Kinh Bac City Development KBC.HM up 4.4 percent.

Global Market Indexes





Americas
Price
Change (%)
1 Year %
Last Updated



Toronto Composite
11826.68

-1.63 (-0.01%)


+53.84%

Mar 03, 3:00pm



Mexican Bolsa IPC Index
32322.13

+267.09 (0.83%)


+90.92%

Mar 03, 3:00pm



Brazil Bovespa Index
67667.21

-111.95 (-0.17%)


+86.75%

Mar 03, 3:00pm



Argentina Merval Index
2291.39

+5.67 (0.25%)


+142.80%

Mar 03, 3:00pm



Chile IPSA Index
3706.53

-53.86 (-1.43%)


+53.81%

Mar 03, 3:00pm








Asian Pacific
Price
Change (%)
1 Year %
Last Updated



Nikkei 225 Index
10253.14

+31.30 (0.31%)


+40.84%

Mar 03, 3:00pm



ASX All Ordinaries
4743.80

+0.00 (0.00%)


+48.07%

Mar 03, 3:00pm



Seoul Composite
1622.44

+7.32 (0.45%)


+59.25%

Mar 03, 3:00pm



Hong Kong Hang Seng
20876.79

-29.32 (-0.14%)


+69.49%

Mar 03, 3:00pm



Shanghai
3097.00

+23.90 (0.78%)


+47.94%

Mar 03, 3:00pm



Taiwan Weighted
7629.52

+31.90 (0.42%)


+72.39%

Mar 03, 3:00pm



Singapore Straits Times
2782.79

+10.59 (0.38%)


+81.48%

Mar 03, 3:00pm



Bombay Sensex Index
17000.01

+0.00 (0.00%)


+97.51%

Mar 03, 3:00pm



Jakarta Composite
2567.09

+0.00 (0.00%)


+104.37%

Mar 03, 3:00pm



Kuala Lumpur Composite
1286.10

-1.97 (-0.15%)


+46.72%

Mar 03, 3:00pm



PSE Composite
3069.29

+7.40 (0.24%)


+65.33%

Mar 03, 3:00pm



Sri Lanka All Share
3774.03

-46.63 (-1.22%)


+125.76%

Mar 03, 3:00pm








Europe
Price
Change (%)
1 Year %
Last Updated



FTSE 100 Index
5533.21

+49.15 (0.90%)


+52.61%

Mar 03, 3:00pm



Paris CAC 40
3842.52

+30.60 (0.80%)


+48.85%

Mar 03, 3:00pm



Frankfurt Index
5817.88

+41.32 (0.72%)


+56.81%

Mar 03, 3:00pm



Milan BCI General
15743.00

+0.00 (0.00%)


+33.23%

Mar 02, 5:30pm



Belgium 20 Index
2592.56

+33.79 (1.32%)


+60.97%

Mar 03, 3:00pm



Swiss Market Index
6813.16

-6.88 (-0.10%)


+53.51%

Mar 03, 3:00pm



OSE Norway All Share
410.26

+2.54 (0.62%)


+64.63%

Mar 03, 3:00pm



ATX Vienna
2456.98

-13.93 (-0.56%)


+73.34%

Mar 03, 3:00pm



Amsterdam Total Return General
331.86

+3.62 (1.10%)


+58.91%

Mar 03, 3:00pm



Madrid General
1107.56

+14.90 (1.36%)


+44.52%

Mar 03, 3:00pm



Stockholm General Index
310.24

+2.82 (0.92%)


+62.68%

Mar 03, 3:00pm








Africa/Middle East
Price
Change (%)
1 Year %
Last Updated



Israel TA 100 Index
1125.01

+0.70 (0.06%)


+94.27%

Mar 03, 10:45am



TEL-TECH INDEX
315.04

+3.14 (1.01%)


+97.22%

Mar 03, 10:45am



TEL-TECH-15 INDEX
268.51

+2.92 (1.10%)


+82.07%

Mar 03, 10:45am

Shayne Heffernan www.livetradingnews.com

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