The iShares MSCI Thailand Capped Investable Market Index Fund (the “Fund”) seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the MSCI Thailand IMI 25/50 Index (the “ Underlying Index”).
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Tuesday, May 21, 9:19 AM
Thai stocks (THD) cooled off Tuesday even as property shares outperformed on continued speculation about a rate cut to boost economic growth. Regional winners were Malaysian (EWM) and Philippine (EPHE) equities, up 0.58% and 0.72% respectively.
Comment![Global & FX]
Monday, May 20, 10:44 AM
Indonesian stocks (IDX +1.3%) get a lift Monday, rising 1.4% in Jakarta after the country names Investment Coordinating Board chairman Chatib Basri (who has strong ties to the private sector) as new finance minister. Elsewhere in the region, Thai equities (THD +1.4%) once again get a boost from rate cut speculation as the SET jumps 0.95%. The Bank of Thailand may use a lower-than-expected read on Q1 GDP (5.3% expansion versus a consensus of 6%) to justify cutting the policy rate at its May 29 meeting (Nomura has the odds at 60%).
Comment![Global & FX]
Friday, May 17, 9:26 AM
Thai stocks (THD) rise 0.62%, helped by 7% gains for Shin Corp. (SHNZY.PK) and Minor International (MNILF.OB) which will both be added to the MSCI Emerging Markets (EEM) index. Elsewhere in the region, stocks in Indonesia (IDX) rise 1.32%, continuing to defy analysts' predictions (I, II) of a steep sell-off, and post-midterm election profit-taking continues in the Philippines (EPHE), where stocks fall 0.42%.
Comment![Global & FX]
Tuesday, May 14, 10:57 AM
Philippine equities (EPHE +1%) touch new record highs Tuesday on the back of a 3% gain in shares of telecom Philippine Long Distance Co, while Thai stocks (THD +0.9%) continue to put in fresh nineteen-year highs, as the SET closes at 1,623.48, helped by buying in bank stocks as investors anticipate a rate cut to corral the surging baht.
Comment![Global & FX]
Monday, May 13, 9:04 AM
Vietnamese stocks (VNM) rise 0.6% after the country's central bank said Friday it would cut three policy rates by 100bps amid inflation which, at 6.61% in April, was a little more than a fourth of what it was less than two years ago. Elsewhere in the region, Malaysian stocks (EWM) add 0.88% to last week's 4.6% rally, Thai equities (THD) slip 0.3% after the country's finance minister fails to mention interest rates in a meeting with the central bank's policy-making committee, and stocks in Singapore (EWS) give back 1% of last week's gains amid profit-taking.
Comment![Global & FX]
Thursday, May 9, 7:48 AM
Thai stocks (THD) continue to make new 19-year highs as the SET rises 0.4% to 1,621. In other regional action, Malaysian (EWM) equities lagged (-0.5%) for the second day in a row as the post-election euphoria wears off and stocks in Singapore (EWS) jump 0.6% on agribusiness earnings optimism (Olam OLMIF.PK +2.6%, Wilmar WLMIY.PK +1.2%).
Comment![Global & FX]
Wednesday, May 8, 10:18 AM
In a reversal of Tuesday's action, Philippine stocks (EPHE +0.7%) rise 0.5%, recouping half of Monday and Tuesday's losses while Malaysian equities (EWM +0.3%) finally cool off after surging ~5% following Sunday's election. Elsewhere in the region, Thai stocks (THD +1.8%) rally 0.8% to a fresh 19-1/2 year high, while regional agribusiness heavyweight Wilmar(WLMIY.PK +2.4%) posts a 23% Y/Y increase in earnings, fueling a 0.9% bump for stocks in Singapore (EWS +0.8%).
Comment![Global & FX]
Tuesday, May 7, 10:27 AM
Malaysian equities (EWM +0.5%) put in another record close in Kuala Lumpur Tuesday as the post-election rally (I, II) continues, led by financials. Net foreign buying totals $820M so far this week. Speaking of foreign capital inflows, stocks in Manila (EPHE -0.4%), capital of recently investment grade Philippines (I, II), slip 0.3% on the day but remain near record highs. In other Southeast Asian markets, Thai stocks (THD +0.5%) rose 1.14%.
Comment![Global & FX]
Friday, April 26, 9:49 AM
Thai stocks (THD) outpaced other Southeast Asian shares this week as energy names (buoyed by a recovery in oil prices) helped the SET index gain 2.4%. Some analysts have expressed concern that lower oil prices could weigh on Thai equity markets going forward. The strength of the baht also has traders cautious: "It is still unclear how authorities will deal with" the surging currency, one analyst told Reuters.
Comment![Global & FX]
Monday, April 22, 7:02 AM
Another day, another new record closing high for Philippine equities (EPHE) as the index in Manila jumps 2.4% to 7,120.48. In other Southeast Asian markets, Thailand's SET index rises nearly 1% and settles comfortably above the psychologically important 1,500 level — the Thai market (THD) was buoyed once again by strong earnings from the financial sector. (Previously: Thai banks boost reserves amid bubble worries)
Comment![Global & FX]
Friday, April 19, 2:38 PM
Bangkok Bank (Thailand's largest lender which rose 1.6% today and reported a 7.8% increase in quarterly profits AH) says it has built up loan loss reserves equal to 203% of its NPL book. Similarly, Thailand's third largest lender Siam Commercial Bank, notes that "higher provisions [are now necessary] as a counter-cyclical buffer." Investors, the World Bank, and Thai monetary authorities are all concerned that cheap property loans have created a credit bubble in Thailand which could jeopardize economic growth and may impede the Thai central bank's ability to adopt more accommodative policies.
1 Comment[Global & FX]
Friday, April 19, 12:16 PM
Philippine stocks (EPHE +2.2%) hit record highs as foreign inflows top $113M on the week — Fitch's upgrade of the country to investment grade last month may be contributing to capital inflows. Meanwhile, Thai stocks (THD +2.3%) rose for the second day in a row on the back of strong earnings from the country's financial sector.
Comment![Global & FX]
Wednesday, April 17, 11:39 AM
Malaysian equities (EWM +0.1%) make new record highs Wednesday on the back of impressive earnings two weeks before a pivotal election, while Thai stocks (THD -0.5%) fell, weighed down by weakness in the energy sector. Falling oil prices may lead to weak earnings from Thai-listed energy names one analyst told Reuters, something which may concern THD investors as the ETF is heavily weighted towards energy.
Comment![Global & FX]
Tuesday, April 16, 8:40 AM
Don't expect a Chinese economic swoon to derail growth in Thailand and Malaysia where "generous fiscal policy" is the key driver, says HSBC, echoing the positive sentiment expressed by the World Bank (asset bubble warning notwithstanding). Thai stocks (THD) hit two week highs Tuesday and Malaysian equities (EWM) neared record levels as analysts say any hit to raw material exports occasioned by flagging Chinese demand will be offset by knock on benefits from Japanese monetary stimulus. Comment![Global & FX]
Friday, April 12, 8:02 AM
Thai stocks (THD) extend Thursday's gains to notch one week highs after the Bank of Thailand ups its 2013 economic growth forecast to 5.1% from 4.9%. The SET index (+0.7%) closed above the psychologically important 1,500 level for the second session in a row.Comment![Global & FX]