ASEAN Markets will see a strong rally today after a turn in Wall St sentiment, additional good news in the region has also raised long term expectations of ASEANS Stock Exchanges.

ASEAN Nations prepare for the establishment of an economic community by 2015, member-countries of the Association of Southeast Asian Nations (Asean) are planning to enter into an East Asia Free Trade Area (Eafta) to engage regional giants such as Japan, South Korea and China.

This will see an explosion in ASEAN business and stock markets. As Ebeling Heffernan has been saying for some time, everyone should be gaining some ASEAN exposure.

S. Pushpanathan, deputy secretary-general for the planned Asean Economic Community, said integrating the regional bloc into the regional and global economy continues to be a top priority.

“Besides the effective implementation of the intra-Asean free trade-agreement and FTAs with dialogue partners such as China, Japan, Korea, and recently Australia and New Zealand, Asean should also engage bigger trading blocs.

“And as mandated by the Asean leaders, member states are currently looking into the recommendations for an Eafta and Comprehensive Economic Partnership in East Asia,” said Pashpanathan in a statement during the trade ministers’ meeting of Asean and Asia-Pacific Economic Confederation (Apec) member-countries recently in Jakarta.

He said both regional blocs share similar goals while priorities are being pursued differently. “The Asean regional economic integration should go beyond trade liberalization and facilitation, structural reforms, connectivity, food and energy security but also into pressing issues facing the member countries such as disaster management and counterterrorism cooperation.”

Pushpanathan said the realization of the Asean economic community by 2015 “will be a big boost” to the Apec Bogor Goals that seek to liberalize trade and investments by 2020.

Asean groups the Philippines, Indonesia, Thailand, Vietnam, Laos, Cambodia, Singapore, Brunei, Burma/Myanmar and Malaysia. Apec groups 21 developed and developing economies around the Pacific Rim.

The Stock Exchange of Thailand (SET) has selected eligible securities as the constituents of the SET50 and SET100 indices for H2/2010 (July 1- December 31,2010). The review was based on trading data of eligible securities during June 1, 2009 to May 31, 2010, SET Group Head, Markets Division, Ms. Kesara Manchusree said.Their inclusion should see increased demand for the securities and each is worth buying.

There are five additions in the SET50: Bangkok Life Assurance PCL (BLA), Home Product Center PCL (HMPRO), Indorama Ventures PCL (IVL), Tisco Financial Group PCL (TISCO), TPI Polene PCL (TPIPL).

There are also 9 additions in the SET100: Bangkok Life Assurance PCL (BLA), Central plaza hotel PCL (CENTEL), GFPT PCL (GFPT), Kang yong electric (KYE), Samart Telcoms PCL (SAMTEL), Somboon Advance Technology PCL (SAT), Sri trang agro-industry PCL (STA), Tipco asphalt PCL (TASCO), Vanachai group PCL (VNG)

The SET50 Index is calculated from the top 50 eligible securities and the SET100 from the top 100,with 5 securities in the replacement lists of each index.

For details on the selection criteria and method of Index calculation, please go to www.set.or.th/set50

In Bangkok, profit-taking erased gains in banks, with Bangkok Bank BBL.BK, the biggest, and number four
Kasikornbank KBAN.BK both falling more than 1 percent. The Thai market continued to be supported by local buying,as political tension eased after the end last month of protests in the capital, cushioning further foreign selling on Monday and last week.

In Manila, port operator International Container Terminal Services Inc (ICT.PS) jumped 5.5 percent and Manila Water (MWC.PS), the utility arm of conglomerate Ayala Corp (AC.PS), gained 3.3 percent.

Bucking the trend, Vietnam’s index .VNI inched down 0.06 percent, ending a five-day rise.

Indonesia’s main share index, Asia’s second best performing market this year, ended the day up 0.12 percent,
after rising earlier to its highest level since May 17. The market attracted net foreign buying of $58 million over the past two sessions, adding to the $309 million net foreign inflows in the past three weeks.

Among outperformers in Jakarta, Astra International (ASII), the country’s biggest automotive distributor and the largest listed firm by market value, rose for a third session, adding 3.95 percent. Bank Mandiri (BMRI.JK), the biggest lender, rose 1.8 percent to 5,550 rupiah after broker Nomura upgraded its rating on the bank to ‘buy’, with target price of 6,800 rupiah.

In Singapore, the index ended just flat, with commodity firm Noble Group (NOBG.SI) up 2.2 percent and telecom firm Singapore Telecom (STEL.SI) down 0.33 percent.

Hotel operator Overseas Union Enterprise (OVES.SI) fell 22 percent after a key shareholder at the company plans to raise up to $300 million by selling shares, convertible bonds.

In Kuala Lumpur, gaming firm Genting (GENT.KL) rose 1.6 percent and Genting Malaysia (GENM.KL) was up 0.36 percent.

Global Markets By Region

Americas

Price

Change (%)

1 Year %

Last Updated

Toronto Composite

11,667.34

+0.42 (0.00%)

+12.42%

Jun 15, 4:00pm

Mexican Bolsa IPC Index

32,238.41

+114.13 (0.36%)

+29.35%

Jun 15, 4:00pm

Brazil Bovespa Index

64,516.60

+983.60 (1.55%)

+24.75%

Jun 15, 4:00pm

Argentina Merval Index

2,282.51

+1.28 (0.06%)

+37.95%

Jun 15, 4:00pm

Chile IPSA Index

3,986.27

+17.04 (0.43%)

+24.55%

Jun 15, 4:00pm

Asian Pacific

Price

Change (%)

1 Year %

Last Updated

Nikkei 225 Index

9,887.89

+8.04 (0.08%)

-1.51%

Jun 15, 4:00pm

ASX All Ordinaries

4,517.60

+0.00 (0.00%)

+12.09%

Jun 15, 4:00pm

Seoul Composite

1,690.60

+15.26 (0.91%)

+19.70%

Jun 15, 4:00pm

Hong Kong Hang Seng

20,062.15

+10.24 (0.05%)

+8.45%

Jun 15, 4:00pm

Shanghai

2,569.94

+0.00 (0.00%)

-7.87%

Jun 15, 4:00pm

Taiwan Weighted

7,387.40

+87.91 (1.20%)

+18.66%

Jun 15, 4:00pm

Singapore Straits Times

2,818.21

+0.14 (0.00%)

+21.65%

Jun 15, 4:00pm

Bombay Sensex Index

17,338.17

+273.22 (1.60%)

+16.56%

Jun 15, 4:00pm

Jakarta Composite

2,826.84

+24.94 (0.89%)

+36.57%

Jun 15, 4:00pm

Kuala Lumpur Composite

1,298.37

+1.21 (0.09%)

+18.99%

Jun 15, 4:00pm

PSE Composite

3,282.42

+0.00 (0.00%)

+25.63%

Jun 15, 4:00pm

Sri Lanka All Share

4,612.76

+51.43 (1.13%)

+101.77%

Jun 15, 4:00pm

Europe

Price

Change (%)

1 Year %

Last Updated

FTSE 100 Index

5,217.82

+15.72 (0.30%)

+20.62%

Jun 15, 4:00pm

Paris CAC 40

3,661.51

+35.47 (0.98%)

+13.73%

Jun 15, 4:00pm

Frankfurt Index

6,175.05

+50.05 (0.82%)

+26.28%

Jun 15, 4:00pm

Milan BCI General

15,743.00

+0.00 (0.00%)

+0.00%

Jun 15, 4:00pm

Belgium 20 Index

2,509.31

+11.07 (0.44%)

+24.90%

Jun 15, 4:00pm

Swiss Market Index

6,484.73

+12.63 (0.20%)

+20.08%

Jun 15, 4:00pm

OSE Norway All Share

418.17

+1.10 (0.26%)

+20.49%

Jun 15, 4:00pm

ATX Vienna

2,427.70

+21.93 (0.91%)

+14.15%

Jun 15, 4:00pm

Amsterdam Total Return General

333.82

+2.37 (0.72%)

+29.26%

Jun 15, 4:00pm

Madrid General

990.20

+2.63 (0.27%)

+0.42%

Jun 15, 4:00pm

Stockholm General Index

325.98

+3.19 (0.99%)

+33.41%

Jun 15, 4:00pm

Africa/Middle East

Price

Change (%)

1 Year %

Last Updated

Israel TA 100 Index

1,032.06

-0.99 (-0.10%)

+26.79%

Jun 15, 10:45am

TEL-TECH INDEX

272.98

-1.53 (-0.56%)

+32.50%

Jun 15, 10:45am

TEL-TECH-15 INDEX

235.29

-1.93 (-0.81%)

+28.58%

Jun 15, 10:45am

Shayne Heffernan www.livetradingnews.com