Author Topic: Emerging Stocks Fall to 9-Month Low as Philippine Equities Slump  (Read 518 times)

hubag bohol

  • AMBASSADOR
  • THE SOURCE
  • *****
  • Posts: 89964
  • "Better to remain silent and be thought a fool...
    • View Profile
By Ian Sayson & Anuchit Nguyen - Jun 11, 2013 1:54 AM PT


Emerging-market stocks tumbled to a nine-month low, led by the biggest declines in Philippine, Thai and Indonesian stocks since 2011, and currencies weakened amid concern the U.S. Federal Reserve will reduce stimulus.

Philippine Long Distance Telephone Co. (TEL) sank 4.2 percent, dragging the Philippine Stock Exchange Index to the steepest loss since September 2011. Thailand’s SET Index dropped as much as 5.3 percent and Indonesia’s benchmark measure lost 4.1 percent. Chinese companies listed in Hong Kong slid for a 10th day, the longest losing streak since 1995. The Indian rupee and Philippine peso weakened, sending the Bloomberg-JPMorgan Asia Dollar Index to a nine-month low. Turkey’s lira rebounded from the biggest drop in a year.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=73311.0
...than to speak out and remove all doubt." - Abraham Lincoln

Book your travel tickets anywhere in the world, go to www.12go.co

unionbank online loan application low interest, credit card, easy and fast approval

hubag bohol

  • AMBASSADOR
  • THE SOURCE
  • *****
  • Posts: 89964
  • "Better to remain silent and be thought a fool...
    • View Profile
Re: Emerging Stocks Fall to 9-Month Low as Philippine Equities Slump
« Reply #1 on: June 11, 2013, 06:29:41 PM »
The MSCI Emerging Markets Index lost 1.3 percent to 960.55 as of 4:42 p.m. in Hong Kong, the lowest level since Sept. 6. The gauge’s 50-day volatility rose to the highest in seven months. The U.S.’s AA+ credit rating outlook was increased by Standard & Poor’s yesterday, boosting the odds that the Fed will reduce its bond-buying program. Foreign investors have sold a net $1.3 billion of Thai shares, $1.2 billion in Indonesia and $70 million in the Philippines since May 22, when Fed Chairman Ben S. Bernanke said the central bank could consider paring stimulus if the U.S. labor market improves.

“It’s a period of high volatility for these markets,” Visit Ongpipattanakul, an investment strategist at Trinity Securities Ltd., said by phone in Bangkok. “We should continue to see more outflow of foreign funds from Thailand, Philippines and Indonesia for some time. Concerns about the Fed tapering have pressured the markets.”

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=73311.0
...than to speak out and remove all doubt." - Abraham Lincoln

Book your travel tickets anywhere in the world, go to www.12go.co

hubag bohol

  • AMBASSADOR
  • THE SOURCE
  • *****
  • Posts: 89964
  • "Better to remain silent and be thought a fool...
    • View Profile
Re: Emerging Stocks Fall to 9-Month Low as Philippine Equities Slump
« Reply #2 on: June 11, 2013, 06:30:29 PM »
Relative Strength

The 14-day relative strength index for the MSCI emerging gauge fell to 19 today, the lowest level since May 2012. An RSI value of 30 or less indicates it may be time to buy the asset.

The Philippine benchmark index slumped 4.6 percent after data showed the nation’s unemployment rate climbed to a three-year high and exports contracted more than expected. Philippine Long Distance, the nation’s biggest phone company, sank the most since January 2012.

Thailand’s SET Index tumbled 4.7 percent after earlier losing as much as 5.3 percent as data showed overseas investors were net sellers of Thai stocks for a sixth straight day. The Jakarta Composite Index slid the most since Oct. 3, 2011. The nation’s stock market was downgraded to underweight today by UBS AG strategist Nicholas Smithie, who cited rising valuations.

The MSCI South East Asia Index dropped 2.4 percent, the sharpest loss since Nov. 10, 2011. The gauge has slumped 11 percent from May 8 when it rose to the highest level since July 1997. The measure’s 50-day volatility for the MSCI South East Asia Index rose to the highest level since August.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=73311.0
...than to speak out and remove all doubt." - Abraham Lincoln

Book your travel tickets anywhere in the world, go to www.12go.co

unionbank online loan application low interest, credit card, easy and fast approval

hubag bohol

  • AMBASSADOR
  • THE SOURCE
  • *****
  • Posts: 89964
  • "Better to remain silent and be thought a fool...
    • View Profile
Re: Emerging Stocks Fall to 9-Month Low as Philippine Equities Slump
« Reply #3 on: June 11, 2013, 06:31:32 PM »
Hang Seng

The Hang Seng China Enterprises Index (HSCEI) of mainland companies listed in Hong Kong fell 1.7 percent to the lowest level since Oct. 8. Bank of China Ltd. lost 3 percent in Hong Kong, the largest drag to the gauge. China’s market is closed for holidays.

Economists from Australia and New Zealand Banking Group Ltd., Barclays Plc and Daiwa Securities Group Inc. have cut GDP growth estimates for China as reports over the weekend showed the nation’s industrial production rose less-than-forecast last month, while export gains were at a 10-month low and imports dropped.

Benchmark stock indexes in India, South Africa and Russia fell more than 1.1 percent while South Korea’s Kospi index lost 0.6 percent to close at the lowest level since April 23.

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=73311.0
...than to speak out and remove all doubt." - Abraham Lincoln

Book your travel tickets anywhere in the world, go to www.12go.co

hubag bohol

  • AMBASSADOR
  • THE SOURCE
  • *****
  • Posts: 89964
  • "Better to remain silent and be thought a fool...
    • View Profile
Re: Emerging Stocks Fall to 9-Month Low as Philippine Equities Slump
« Reply #4 on: June 11, 2013, 06:31:58 PM »
The rupee, Malaysia’s ringgit and the peso depreciated at least 0.6 percent. The South African rand and Russia’s ruble weakened for a third day, sliding at least 0.4 percent. Turkey’s stock gauge climbed 1.1 percent.

The lira rose 0.4 percent against the dollar as the central bank implemented measures to help shield the economy from currency volatility triggered by anti-government protests.

Gauges of health-care companies and technology shares in MSCI’s developing-nation index slid at least 1.5 percent, the most among 10 industry groups.

The emerging-markets measure has dropped 9.1 percent this year, compared with a 10 percent gain in the MSCI World Index. The developing-nation gauge trades at 9.9 times projected 12-month earnings, compared with the MSCI World’s 13.5 times, data compiled by Bloomberg show. -- http://www.bloomberg.com/

Linkback: https://tubagbohol.mikeligalig.com/index.php?topic=73311.0
...than to speak out and remove all doubt." - Abraham Lincoln

Book your travel tickets anywhere in the world, go to www.12go.co

unionbank online loan application low interest, credit card, easy and fast approval

Tags: