Monday, 26 October 2009

The Indonesia Composite

The Indonesia Composite Index, which extended gains following the announcement of the economic data, ended the day at 2,389.56. It earlier touched 2,394.32, the highest level since June 2008. Bumi Resources, the coutry's biggest coal producer, surged 7.6 percent, and the largest listed plantation firm, Astra Agro Lestari, jumped 9.3 percent. Malaysia's index edged up 0.3 percent, Thailand's inched down 0.07 percent, the Philippine index rose 2.4 percent and Vietnam's climbed 2.2 percent. In Bangkok, optimism that the economy of the United States had got over the worst and that the Thai economy would recover later this year bolstered market sentiment, Stock Exchange of Thailand chairman Pakorn Malakul Na Ayudhya said on Monday. "There are signs that the Thai economy has touched bottom and this has led to expectations that Thai GDP will recover from the fourth quarter," Pakorn told reporters. "Normally, the performance of the stock market leads actual economic data by about six months," he said. Thailand's SET index gained as much as 1 percent earlier to touch its highest since Sept. 15, 2008. It rose 3.1 percent last week, its fourth straight week of gains. Among the losers, Banpu, Thailand's top coal miner, dropped 3.3 percent, falling back after an early surge to a 13-month high. After the close, it reported a 73 percent jump in second-quarter earnings, better than expected, due to higher coal prices and strong income from a power plant. Seventh-biggest lender Siam City Bank shot up 5.6 percent on reports the Finance Ministry was likely to allow foreign investors to buy more than 49 percent of the bank. In Kuala Lumpur, gainers were led by a 1.3 percent rise in Axiata Group and a 0.5 percent gain in KL Kepong while Malayan Banking lost 0.3 percent. In the Philippines, Manila Electric surged 11.7 percent after San Miguel Corp said it was keen to take a majority stake by buying 13.4 percent from the Lopez family in a deal that could be worth as much as $840 million. In Hanoi, advancers were led by a 4 percent rise in steel maker Hoa Phat and a 4.6 percent gain in real estate developer Sudico. See for a Vietnam stock report Singapore was closed for a market holiday. ($1=34.00 Baht) (Additional reporting by Saranya Suksomkij in Bangkok; Editing by Alan Raybould) ((; +66 2 648 9733; Reuters Messaging: FACTORS TO WATCH: Malaysia June factory output down 9.6 pct on yr Affin upgrades Malaysian banking stocks to overweight Citi ups Preuksa Real Estate target price Manila's San Miguel may raise stake in Meralco Palm up 2.0 pct as stock data outweighs poor exports Indonesia Q2 GDP growth slowest in six years For South East Asia Hot Stock reports, click; SOUTHEAST ASIAN STOCK MARKETS Change on the day Market Current Prev Close Pct Move Singapore 2549.35 2549.35 (closed) Kuala Lumpur 1188.00 1184.88 +0.26 Bangkok 643.75 644.20 -0.07 Jakarta 2389.56 2349.13 +1.72 Manila 2850.58 2782.98 +2.43 Ho Chi Minh 491.20 480.65 +2.19 Change on year Market Current End prev yr Pct Move Singapore 2549.35 1761.56 +44.72 (closed) Kuala Lumpur 1188.00 876.75 +35.50 Bangkok 643.75 449.96 +43.07 Jakarta 2389.56 1355.40 +76.30 Manila 2850.58 1872.85 +52.21 Ho Chi Minh 491.20 315.62 +55.63 Stock Market Volume (shares) Market Current Volume Average Volume 90 days Kuala Lumpur 96,369,600 387,907,947 Bangkok 4,719,548 3,762,440 Jakarta 15,914,163,500 8,783,816,050 Ho Chi Minh 48,041 44,279 ASIA-PACIFIC STOCK MARKETS: Pan-Asia........ Japan....... S.Korea... S.E. Asia....... Hong Kong... Taiwan.... Australia/NZ.... India....... China..... OTHER MARKETS: Wall Street.... Gold ....... Currency.. Eurostocks..... Oil ........ JP bonds... ADR Report ..... LME metals. US bonds.. Stocks News US.. Stocks News Europe DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Singapore diary Wall Street Week Ahead Eurostocks Week Ahead TOP NEWS: For top Asian company news, double click on: U.S.

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