Asian Shares Weekly Review
Jakarta Composite Index rose 1.53 percent and gained 67.10 points to end the week at 4,465.48 points.
Some 3.4 billion shares valued at Rp 4.2 trillion ($436 million) changed hands on the Indonesia Stock Exchange (IDX). Advancers beat decliners 156 to 98.
Tokyo soared 2.86 percent, or 303.66 points, to 10,913.30, Hong Kong was up 1.12 percent, or 262.02 points, at 23,601.78 and Shanghai put on 1.41 percent, or 32.16 points, to 2,317.07.
Seoul added 0.69 percent, or 13.58 points, to 1,987.85 and Sydney gained 0.31 percent, or 14.6 points, to 4,771.2.
The Stock Exchange of Thailand Index rose 13.49 points or 0.95% to close at 1,434.44 up 1.6% from the previous Friday’s close of 1,296.98. Turnover was 60.33 billion baht, with 35.86 billion shares traded.
The central bank said rising exports, domestic consumption and investment would lift Thai GDP this year by 4.9%, compared with a forecast of 4.6% in October.
Philippine Stock Exchange index added 67.03 points or 1.1 percent to close at 6,139.21. A new intra-day peak was also hit at 6,150.62.
For the week, the local index was up 87.46 points or 1.44 percent from last week’s finish.
The FBM KLCI index lost 4.65 points or 0.28% on Friday. The Finance Index fell 0.21% to 15325.57 points, the Properties Index up 0.07% to 1098.74 points and the Plantation Index rose 0.15% to 8094.22 points. The market traded within a range of 9.27 points between an intra-day high of 1683.96 and a low of 1674.69 during the session.
Stocks in Singapore closed 0.5 per cent higher on Friday, in line with regional bourses, following positive economic data out of China.
China’s economy expanded 7.8 per cent in 2012, better than the government’s target of 7.5 per cent, while gross domestic product grew 7.9 per cent in the October-December period, snapping seven straight quarters of slowing growth.
The Straits Times Index rose 16.12 points to end at 3,211.22.
Heffernan Capital Management
Business Development Director – Private Client Group,
3 Raffles Place #07-01
Bharat Building Singapore 048617
Tel: +65 6329 6408
Fax: +65 6329 9699
Shayne Heffernan Ph.D.
Economist/Hedge Fund Manager
Shayne Heffernan oversees the management of funds for institutions and high net worth individuals. He is also an active consultant working with Corporations around the World.
He is recognized as one of the leading Economists in South East Asia, as well as the preeminent authority on ASEAN. His opinions and forecasts are widely read by decision makers in the region and Internationally.
Shayne Heffernan holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reached a peak of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.
Chinese Society of Economists
American Economic Society
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