MANILA — The Philippine Stock Exchange index (PSEi) extended its downward streak on Thursday (14 Nov 2024), falling below the 6,600 level, while the peso ended almost unchanged against the US dollar.
The PSEi dropped 2.34% to 6,557.09, marking its seventh consecutive day of losses. The broader All Shares index also lost 2.95%, closing at 3,680.62. Reginal Capital Development Corp. managing director Luis Limlingan noted that the local market was impacted by continued fund outflows and a lackluster performance in US equities.
“Philippine shares broke through the 6,600 mark, as more funds exited this week, mirroring the flat finish on Wall Street,” said Limlingan.
All sectors ended in the red, with Mining and Oil suffering the largest decline, down 3.69%. Market breadth was heavily negative, with 181 decliners outnumbering just 35 gainers.
Peso vs dollar
Meanwhile, the peso closed at 58.777 to the dollar, virtually unchanged from its previous close of 58.735.
It traded between 58.75 and 58.85 during the day, with a weighted average of 58.814.
The total volume for the day reached USD 1.53 billion, up slightly from the previous day’s USD 1.43 billion.
ia/mnm
MANILA — The Philippine peso remained steady against the US dollar on Wednesday (13 Nov 2024), despite a downturn in local equities following the US elections.
The peso closed at 58.735, slightly up from the previous session’s 58.831. It traded within a narrow range of 58.66 to 58.77, with an average of 58.706. Trading volume increased to USD1.43 billion from USD1.12 billion the day before.
Meanwhile, the Philippine Stock Exchange (PSEi) slipped 1.41%, or 95.78 points, closing at 6,714.33 points, marking a two-month low. All sectors ended in the red, with financials leading the losses at 1.84%.
Other sectors such as industrials, holding firms, and services also experienced declines. The broader All Shares index fell 0.73%, or 27.88 points, to 3,792.46 points.
Regina Capital’s Luis Limlingan attributed the stock market pullback to concerns over declining foreign direct investments (FDIs) and the broader global economic outlook.
He noted that the PSEi mirrored the movement of US stocks following the post-election rally. Investors are now awaiting key inflation and trade data from overseas, especially after the Federal Reserve’s recent rate cut.
Additionally, global oil prices dropped 5%, driven by a lowered demand growth forecast from OPEC and a weak stimulus plan from China, further weighing on investor sentiment.
ia/mnm
MANILA – Philippine equities ended the day Thursday (07 Nov 2024) in the red, while the peso dropped once again following the election victory of U.S. President-elect Donald Trump.
The Philippine Stock Exchange Index (PSEi) plunged by 2.11%, losing 150.98 points to close at 7,014.44. The All Shares index also fell by 1.97%, ending at 3,891.64.
“Investor sentiment turned negative after Trump’s win triggered a wave of selling on the PSEi,” said Luis Limlingan, managing director of Regina Capital. “The market’s reaction was largely driven by concerns about his policies in a second term.”
Aside from the Services sector, which saw a modest 0.05% gain, all other sectors ended in the red. The Property sector suffered the biggest loss, down by 3.94%. It was followed by Mining and Oil (-2.59%), Industrials (-2.26%), Financials (-2.11%), and Holding Firms (-1.91%).
Declining issues outnumbered advancers, with 167 stocks falling compared to just 46 advancing. Another 40 issues closed unchanged.
Limlingan added that Trump’s election win pushed U.S. stocks to new record highs, as investors reacted to expectations of policies favoring lower corporate taxes, deregulation, and pro-domestic industrial strategies—measures likely to stimulate the U.S. economy and support riskier assets.
Meanwhile, the peso weakened against the U.S. dollar, closing at 58.73, down from 58.661 the previous day. It opened the trading session at 58.80 and fluctuated between 58.805 and 58.68, with the day’s average at 58.747.
ia/mnm
MANILA – Local stocks dropped on Wednesday (23 Oct 2024) as investors grew cautious due to the lack of fresh market catalysts, while peso-dollar trading was halted due to weather-related disruptions.
The Philippine Stock Exchange index (PSEi) fell by 0.61% to 7,367.66, with All Shares down by 0.85% to 4,050.76.
“The market retreated by 0.61% today as investors remain cautious without any new positive drivers,” said Japhet Tantiangco, research manager at Philstock Financials, Inc.
Mining stocks saw modest gains, rising by 0.43%, while the services sector recorded the largest loss, dropping by 1.92%. Decliners outnumbered advancers, 128 to 71.
Meanwhile, peso-dollar trading was suspended after Malacañang ordered the suspension of government office operations in Luzon due to Severe Tropical Storm Kristine (international name: Trami), according to the Bangko Sentral ng Pilipinas.
The storm led to the halt of both peso-dollar trading and monetary operations for the day.
ia/mnm
MANILA – The local stock market slipped on Wednesday (16 oCT 2024), ending its two-day winning streak, while the peso closed slightly stronger against the dollar.
The Philippine Stock Exchange index (PSEi) fell by 0.26 percent to 7,437 points.
Meanwhile, the All-Shares index rose by 0.27 percent to 4,097.56.
“Philippine shares settled downwards, returning to the 7,400 level, as investor optimism pushed the recovery further amidst expectations of another rate cut by the monetary board this Wednesday,” said Luis Limlingan, managing director at Regina Capital Development Corporation.
More than half of the sectoral indices finished in the red, with Mining and Oil posting the biggest drop at 1.08 percent.
On the other hand, Financials and Industrials gained 0.04 percent and 0.32 percent, respectively.
Decliners outnumbered advancers at 101 to 86, with 75 stocks unchanged.
The peso ended the day at 57.7 against the dollar, slightly up from Tuesday’s 57.865 close. It opened at 57.9 and traded between 57.7 and 57.92, bringing the day’s weighted average to 57.824.
Trading volume declined to USD 1.3 billion from USD 1.4 billion.
IA/MNM
MANILA – The Philippine Stock Exchange index (PSEi) experienced a slight increase on Monday (14 Oct 2024), rising by 0.22% to close at 7,326.41, while the peso weakened against the dollar.
All sectoral indices, except for Services, which dipped by 0.49%, ended in positive territory. The Mining and Oil sector led the way with a 2.05% gain. “Philippine shares made minor gains as investors anticipate upcoming economic data and events that could influence market movements,” said Luis Limlingan, managing director of Regina Capital Development Corporation.
Key economic highlights for the week include the U.S. retail sales report scheduled for Thursday and speeches from several Federal Reserve officials, including Governors Waller and Kugler. On the local front, the Monetary Board will hold a policy meeting on October 16, coinciding with the release of August cash remittances data.
Market performance saw 128 gainers versus 73 decliners, with 54 stocks remaining unchanged. However, the peso closed weaker at 57.47 to the dollar, down from 57.21 last Friday. It opened the day at 57.28 and fluctuated between 57.26 and 57.50, with a weighted average of 57.367. Foreign exchange volume also dropped to USD 780.38 million from USD 1.32 billion in the previous trading session.
elami/mnm
MANILA – The Philippine peso achieved its strongest finish in nearly four months on Tuesday 13 Aug 2024), closing at 56.96 against the US dollar. This marks a significant rebound as the peso returns to the 56 level, strengthening by 0.36 from Monday’s closing rate of 57.32 to the greenback.
The peso opened the day at 57.25, fluctuating within a range of 56.92 to 57.30, with an average trading level of 57.14 to the dollar.
According to Michael Ricafort, chief economist at Rizal Commercial Banking Corp., the peso’s recent performance is the strongest since April 15, 2024, when it closed at 56.81 to a dollar. “This appreciation is a positive signal for the financial markets and the broader economy,” Ricafort noted.
Projections for Wednesday suggest the peso will trade within the 56.85 to 57.05 range.
The volume of trade also saw an uptick, increasing to USD1.8 billion from the previous day’s USD1.18 billion.
The stronger peso positively influenced investor sentiment, leading to a 0.56 percent rise in the Philippine Stock Exchange index (PSEi), which closed at 6,650.44 on Tuesday. The All Shares index also saw an improvement, gaining 0.32 percent to finish at 3,610.00.
Among the sectoral indices, Property led the gainers with a 1.69 percent increase, followed by Industrial (+0.56 percent), Holding Firms (+0.44 percent), and Services (+0.37 percent). However, Mining and Oil, as well as Financials, ended in the red, losing 1.09 percent and 0.18 percent, respectively.
Despite the positive momentum, decliners outnumbered advancers at 100 to 81, with 64 stocks remaining unchanged.
Philstocks Financial Inc. senior research analyst Japhet Tantiangco attributed the market’s recovery to the peso’s strength against the US dollar, along with investor optimism surrounding second quarter and first half corporate earnings.
ia/mnm
MANILA – The local stock market made a strong comeback on Wednesday 07 August 2024), reflecting gains in Asian and US markets.
The Philippine Stock Exchange index (PSEi) surged 101.93 points, ending the day at 6,535.17.
Similarly, the All Shares index increased by 43 points, closing at 3,563.94.
“Philippine shares rebounded sharply following rallies in Asian and US markets. Investors are positioning ahead of the upcoming GDP release. Wall Street ended its three-day slump, with Japanese equities leading the charge,” said Luis Limlingan, head of sales at Regina Capital Development Corp.
The PSEi climbed above 6500 after dipping to 6400 earlier in the week, one of its largest declines this year. Investors remain wary due to concerns over high interest rates following a rise in July’s inflation.
All sectors closed in positive territory, with Property leading the gains at 3.25 percent, followed by Services at 1.91 percent. Advancers outnumbered decliners 98 to 81, with 54 issues unchanged.
In currency news, the peso strengthened against the US dollar, closing at 57.51 compared to Tuesday’s 57.81. It traded between 57.495 and 57.85, with a day’s average of 57.69. Trading volume rose to USD1.75 billion from USD1.21 billion the previous day.
(IA/MNM)
MANILA – The local stock market concluded the last trading day of the week in negative territory due to net foreign selling, while the peso closed nearly unchanged.
The Philippine Stock Exchange index (PSEi) plunged by 186.08 points to 6,158.48. Similarly, the broader All Shares also declined by 65.11 points to 3,375.20.
“The local bourse dropped by 186.08 points (2.93%) to reach 6,158.48 due to significant net foreign selling and recorded a net outflow of P1.34 billion,” said Claire Alviar, research associate at Philstock Financials, Inc., adding that this marks its lowest level this year and its eighth consecutive day of decline. Additionally, she noted that the weakness of the peso against the US dollar continued to impact sentiment.
“Negative sentiment from our regional peers also affected market performance after Japan’s May core inflation data came in slightly cooler than expected,” Alviar added.
All sectors declined with Mining and Oil leading with a fall of 345.18 points.
Decliners outnumbered advancers at a ratio of 108 to 74 while there were no changes in share prices for about52 shares.
Meanwhile,the peso closed almost flat at58.8to adollar on Friday comparedtothe previous closing figureof58..78on Thursday.The last time it reached this level was on Nov3It openedat58..83and traded between58..78and58..88.The weighted average forthe day was recorded at58..835.Total trade volume decreasedto USD8079from USD12billiontheprevious day.
(el Amigo/Source:PNA)
MANILA — The Philippine Stock Exchange index (PSEi) continued its decline for the sixth straight trading day, closing 0.04% lower at 6,366.03, hitting a six-month low since December 2023. The peso also weakened to 58.76 against the US dollar, from 58.62 the previous day.
According to RCBC chief economist Michael Ricafort, factors such as rising global oil prices, tensions with China, local political instability, and a less optimistic outlook on rate cuts contributed to the bearish sentiment.
Despite the PSEi’s overall decline, most sectors, including Services and Holding Firms, saw gains. The All Shares index fell slightly by 0.06% to 3,438.46. In the currency market, trading volume increased to USD 930 million from USD 858.53 million on Tuesday.
(el Amigo/PNA)
MANILA — The peso appreciated against the dollar, closing at 58.68 from its previous 58.79, with total volume rising to USD1.05 billion.
Meanwhile, the benchmark Philippine Stock Exchange index (PSEi) dropped by 48.57 points to close at 6,410.07 due to investor response to IMF’s revised growth forecast and slower-than-expected Q1 GDP data for 2024.
There was a foreign outflow of P742.96 million as foreigners acted as net sellers during Tuesday’s session and investors remained cautious ahead of a local holiday.
All sectors showed losses; Services experienced the greatest drop at 1.79%, followed by Mining and Property which declined by 1.44% and 1.02% respectively.
In total, losers surpassed gainers with a count of 99 to81 across all sectors on Tuesday’s trading day in the Philippines financial market.
(el Amigo/MNM)
MANILA – The Philippine Stock Exchange index (PSEi) and the Philippine peso both weakened on Monday (10 June 2024), impacted by stronger-than-expected employment data from the United States. This positive U.S. economic report led to increased U.S. Treasury yields and decreased the likelihood of Federal Reserve interest rate cuts later this year.
The PSEi dropped by 0.92%, closing at 6,458.64, while the broader All Shares index declined by 0.71% to 3,467.24.
All sectors finished in negative territory, with the Mining and Oil index suffering the largest decline of 1.92%. Other notable losses included:
Financials: down 1.62%
Services: down 1.18%
Property: down 1.07%
Industrial: down 0.45%
Holding Firms: down 0.10%
The trading day saw more losers than gainers, with 109 stocks declining and 58 advancing, while 66 remained unchanged.
Influence of a Weaker Peso
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort noted that the weakening of the Philippine peso also played a role in the day’s stock market performance.
The peso closed at 58.79 to the U.S. dollar, down from 58.52 at the end of last week, a decrease of 0.27. This exchange rate is the lowest the peso has been in the last 19 months, dating back to November 3, 2022.
Ricafort added, “Looking ahead, the U.S. dollar-Philippine peso exchange rate will likely continue to be influenced by interventions, as has been the trend over the past 1.5 years.”
The exchange rate fluctuated between 58.67 and 58.80 during the day, with an average rate of 58.77 against the U.S. dollar.
Trading volume also saw a significant drop, falling to USD 604.85 million from USD 1.23 billion last Friday.
(el Amigo/Source:PNA)
MANILA – The local stock market ended Friday with minimal changes, while the peso appreciated against the dollar.
The Philippine Stock Exchange index (PSEi) inched up by 8.90 points to close at 6,518.76.
Meanwhile, the broader All Shares index increased slightly by 2.14 points, ending the day at 3,491.93.
“Philippine equities remained relatively stable, reflecting the subdued movement in the US market,” noted Luis Limlingan, Head of Sales at Regina Capital Development Corp.
“US investors are waiting for the May jobs report, hoping that signs of a cooling labor market might encourage the Federal Reserve to consider interest rate cuts. As for the Philippines, the next significant economic data release is the Foreign Direct Investment (FDI) report, which is scheduled for Thursday, June 13,” Limlingan added.
Almost all sectors closed higher, except Holding Firms.
Decliners narrowly outnumbered advancers at 90 to 88, while 63 stocks remained unchanged.
The peso closed at 58.52 to the dollar on Friday, strengthening from Thursday’s close of 58.611.
The currency opened at 58.555 and traded within a range of 58.49 to 58.59, leading to a weighted average of 58.539.
Trading volume declined to USD 1.2 billion, down from USD 1.3 billion the previous day.
(el Amigo/mnm)
MANILA – With May inflation remaining within the government’s target range of 2 to 4 percent, the local stock market gained strength mid-week, while the peso continued its decline.
The benchmark Philippine Stock Exchange index (PSEi) closed higher, rising by 0.86 percent to reach 6,441.32 points.
The All Shares index also finished in positive territory, gaining 0.43 percent to close at 3,453.69.
However, the mining, oil, and industrial sectors saw declines, dropping by 0.57 percent and 0.05 percent, respectively.
The top performer of the day was the Holding Firms sector, which increased by 1.78 percent. Other indices that ended in the green included Property (+0.92 percent), Services (+0.41 percent), and Financials (+0.34 percent).
Mikhail Plopenio, research and engagement officer at Philstock Financials, Inc., noted that investors reacted positively to the latest inflation data, which showed a rate of 3.9 percent in May 2024. This was a slight increase from 3.8 percent in April but significantly lower than the 6.1 percent rate recorded in May 2023.
“The Bangko Sentral ng Pilipinas (BSP) statement regarding the potential for cutting policy rates ahead of the Federal Reserve has raised hopes for rate cuts, contributing to the positive sentiment,” Plopenio added.
Luis Limlingan, head of sales at Regina Capital Development Corp., mentioned that the local bourse mirrored movements in US equities.
On Wednesday, there were more winners than losers, with 103 stocks advancing and 82 declining, while 46 remained unchanged.
Meanwhile, the Philippine peso continued to weaken, closing at 58.78 to the US dollar, down from Tuesday’s close of 58.71.
Peso weakens
The peso started the day weaker at 58.80, compared to the previous day’s opening of 58.62 to the dollar.
The currency pair traded within a range of 58.65 to 58.80, with the weighted average for the day settling at 58.73 to the greenback.
Trade volume remained flat on Wednesday at USD1.32 billion, the same level as the previous day.
(El Amigo/With reports from PNA)
MANILA — The peso fell to a near two-year low of P58.27 against the dollar on Tuesday (21 May 2024), attributed to delays in interest rate hikes and ongoing geopolitical concerns.
The last instance the peso breached the P58 level was on November 8, 2022, closing at 58.275 against the greenback.
According to data from the Bankers Association of the Philippines (BAP), the peso dropped by 38 centavos from its previous value of P57.9.
The trading day opened with the peso at P57.97:$1, fluctuating between P57.97 and P58.28.
Trading volume reached P1.620 billion, surpassing the P1.206 billion recorded in the previous session.
(By el Amigo/MNM)
MANILA – Philippine shares closed the week in negative territory due to last-minute profit-taking, while the peso also depreciated on Friday (17 May 2024).
The Philippine Stocks Exchange index (PSEi) dropped by 9.51 points, ending at 6,618.69. The broader All Shares index experienced a slight decline of 0.37 points, closing at 3,524.15.
“The local bourse fell by 9.51 points (0.14%) to 6,618.69 due to last-minute profit-taking. The market had mostly traded in positive territory during the session, buoyed by the Bangko Sentral ng Pilipinas’ (BSP) indication that it might cut interest rates as early as August,” said Claire Alviar, assistant research manager at Philstocks Financial, Inc.
“However, negative cues from international markets dampened sentiment, leading investors to sell shares at the last minute,” Alviar added.
Sector indices showed mixed results, with the Services sector posting the largest loss, declining by 1.60 percent. Conversely, the Property sector led the gainers, rising by 1.39 percent.
Advancers outnumbered decliners, 93 to 91, with 67 shares remaining unchanged.
The peso weakened, closing at 57.62 against the US dollar, down from Thursday’s finish of 57.46. It opened at 57.53 and fluctuated between 57.53 and 57.75 throughout the day. The weighted average for the day was 57.643.
The total volume of trade slightly decreased to USD 1.75 billion from USD 1.76 billion on Thursday.
(el Amigo/MNM)
MANILA — The stock market and the peso concluded the week with losses, as investor sentiment soured amidst escalating geopolitical tensions in the Middle East.
On Friday, the local stock market witnessed a decline, with the main index dropping by 80.19 points (1.23 percent) to 6,443.00. This downturn was attributed to the heightened tensions in the Middle East following Israel’s attack on Iran, according to Claire Alviar, assistant research manager at Philstock Financials, Inc. Alviar noted that this negative sentiment led investors to offload shares ahead of the weekend to mitigate uncertainties.
The broader All Shares index also experienced a decline, shedding 34.77 points, or 1.01 percent, to 3,421.55. Despite this overall downturn, the Mining and Oil sector managed to buck the trend, closing in the green with a gain of 1.15 percent to 8,222.62. However, the rest of the sectoral indices ended in negative territory, with the Property sector registering the steepest drop of 2.55 percent to 2,418.23.
Alviar highlighted that among the index members, only five stocks posted gains during the session. Emperador, Inc. recorded the highest increase, up by 1.61 percent, while DMCI Holdings, Inc. experienced the most significant decline, plummeting by 8.2 percent following its ex-dividend date. Losers outnumbered gainers at 134 to 58, with 43 firms remaining unchanged. The net market value turnover on Friday amounted to PHP4.83 billion.
Meanwhile, the Philippine peso depreciated further on Friday, weakening by 0.46 to 57.65 against the US dollar compared to the previous day’s close of 57.19. It opened the day at 57.35, slightly weaker than Thursday’s start of 57.15. Throughout the day, the currency pair traded between 57.32 and 56.67, averaging at 57.54 to the greenback. Trade volume rebounded on Friday, reaching USD1.85 billion, up from the previous day’s volume of USD1.8 billion.
(Source: PNA)
MANILA — At exactly 6:10 p.m. on Thursday (18 Jan 2024), local shares concluded the trading day with a weak performance, as the Philippine Stock Exchange index (PSEi) lost 61.64 points, closing at 6,510.87. The All Shares index also dropped by 25.45 points, settling at 3,451.21.
Mikhail Plopenio, the research and engagement officer at Philstocks Financial, Inc., remarked, “This Thursday, the local market dropped by 61.64 points (0.94 percent) to 6,510.87 as investors seemed to have weighed negative factors offshore.”
He attributed the decline to Wall Street losses, influenced by rising US long-term treasury yields and stronger-than-expected US retail sales data, which dampened hopes for a near-term rate cut by the Federal Reserve.
All sectors closed in the red, with Mining and Oil leading the decline, shedding 157.72 points. Decliners outnumbered advancers, with 112 to 66, while 51 shares remained unchanged.
In the foreign exchange market, the peso remained stable, closing at 55.84 against the US dollar, compared to Wednesday’s finish at 55.93. The currency opened the day at 55.87, trading within the range of 55.76 and 55.90, with a weighted average of 55.82.
The total trade volume decreased to USD1.43 billion from the previous day’s USD1.73 billion.
(By el Amigo/MNM)
MANILA — The Philippine Stock Exchange index (PSEi) experienced minimal movement, slipping by 0.01 percent or 0.52 points to settle at 6,520.75 points on Wednesday (20 Dec 2023).
In contrast, the broader All Shares index edged up by 1.70 points, reaching 3,434.41.
Philstocks Financial, Inc.’s Assistant Research Manager, Claire Alviar, noted that the marginal decline in the local bourse was influenced by investors capitalizing on recent market gains, while actively seeking new catalysts to propel the market upwards.
Sector performances displayed a mixed picture, with gainers led by Mining and Oil, followed by Holding Firms and Services. Conversely, Industrial, Financials, and Property sectors found themselves in negative territory.
Despite the overall market dip, foreign investors remained net buyers, contributing to a net inflow of PHP166.8 million, and a robust net market value turnover of PHP5.3 billion.
Advancers outnumbered decliners, with 96 gaining against 89 declining, while shares of 42 firms remained unchanged.
In the currency market, the Philippine peso exhibited strength, rebounding by 0.20 to close at 55.75 against the US dollar, compared to the previous day’s finish at 55.95. The peso opened slightly weaker at 55.85 but traded within the range of 55.73 to 55.90, with an average level of 55.81 throughout the day.
Trade volume witnessed an increase, totaling USD1.59 billion compared to the previous day’s volume of USD1.3 billion.
(IAmigo/MNM)
MANILA — In a two-day streak, the local bourse experienced a decline attributed to profit-taking, while the domestic currency closed the month on a weaker note.
The Philippine Stock Exchange index (PSEi) concluded November’s trading, dipping by 40.26 points to 6,224.88, with All Shares also registering a decline of 15.24 points to 3,324.44.
All sectoral indices closed in negative territory, with the Mining and Oil sector leading the losses by shedding 96.60 points, closing at 9,644.56.
Mikhail Plopenio, Research and Engagement Officer at Philstocks Financial Inc. noted that all counters traded in the red throughout the day.
Profit-taking was a significant factor, and concerns regarding China’s economy, a major trading partner for the Philippines, further impacted investor sentiment.
Plopenio explained, “This follows China’s November official manufacturing PMI, which stood at 49.4, indicating a contraction, and its non-manufacturing PMI registered 50.2, declining from the prior month’s 50.6.”
Despite the challenges, market participation in the local stock market saw improvement, with a net value turnover of PHP 7.81 billion, surpassing the year-to-date average of PHP 4.91 billion.
However, net foreign selling stood at PHP 320.30 million, contributing to the day’s overall index performance.
Simultaneously, the peso closed weaker by 0.10 at 55.49 against the US dollar on Thursday, compared to 55.39 the previous day.
The day commenced with a weaker opening at 55.45, rising from the last day’s start at 55.29 against the dollar.
The peso traded between 55.37 and 55.51, averaging 55.45 against the greenback for the day.
The volume of trade reached USD 1.27 billion, surpassing Wednesday’s volume of USD 1.1 billion.
(AI/MNM)