MANILA — The Philippine Stock Exchange index (PSEi) fell 13.14 points to 6,398.77 on Monday (01 July 2024) due to profit-taking, ending a five-day rally. The broader All Shares index also dipped by 7.19 points to 3,479.47.

Claire Alviar, a research associate at Philstock Financials, Inc., noted that many investors stayed on the sidelines with a weak market turnover of PHP3.20 billion, as they awaited the June inflation data crucial for the Bangko Sentral ng Pilipinas’ interest rate decisions.

All sectors except banks, which rose 0.12%, saw declines, with Holdings experiencing the largest drop at 0.56%. Decliners outpaced advancers 103 to 83, with 53 issues unchanged.

The peso closed at 58.65 to the dollar, moving sideways from Friday’s 58.61 finish. It traded between 58.47 and 58.695 with a weighted average of 58.563. Total trade volume fell to USD920.83 million from USD1.1 billion last Friday.

(el Amigo/mnm)

MANILA — The local stock index and currency both strengthened on the week’s final trading day, buoyed by the central bank’s statement that inflation is expected to ease in the year’s second half.

On Friday (28 June 2024), the Philippine Stock Exchange index (PSEi) surged for the fifth consecutive day, closing at 6,411.91, a 0.33 percent increase. The All Shares index also rose by 0.26 percent to 3,486.66.

“Investors cheered the Bangko Sentral ng Pilipinas’ (BSP) signal of a possible rate cut at their August meeting, as well as its downward revision of the inflation forecast for this year and next to 3.1 percent, which is within the government’s target range of 2 to 4 percent,” said Claire Alviar, a research associate at Philstocks Financials, Inc.

“The market returned above the 6,400 level, supported by a strong net market value turnover of PHP5.92 billion, which is higher than the PHP4.4 billion monthly average,” she added.

Among the indices, Mining and Oil, and Financials recorded losses of 0.86 percent and 0.51 percent, respectively.

The biggest gainer for the day was the Holding Firms index, with shares increasing by 0.93 percent, followed by Property (+0.50 percent), Services (+0.49 percent), and Industrial (+0.10 percent).

Advancers outnumbered decliners, 109 to 85, with 52 stocks unchanged.

Meanwhile, the peso ended the week on a strong note, gaining 0.14 to close at 58.61 against the US dollar, up from the previous day’s finish at 58.75.

The local currency started the day strong at 58.70, up from Thursday’s opening rate of 58.88 to the dollar.

The exchange rate fluctuated between 58.58 and 58.72, averaging 58.66 against the greenback.

The trade volume decreased by USD39 million to USD1.166 billion from USD1.205 billion.

(el Amigo/mnm/PNA)

MANILA – The Philippine Stock Exchange Index (PSEi) continued its upward momentum for the third straight day, driven by bargain hunters capitalizing on market opportunities, while the peso remained relatively stable during mid-week trading.

The PSEi closed at 6,313.11 on Wednesday (26 June 2024), marking a 0.22% increase from the previous day’s trading session.

The broader All Shares index also saw an uptick, rising by 0.28% to 3,450.58.

Among the sectoral indices, Holding Firms and Mining and Oil were the only ones to end in negative territory, with declines of 0.64% and 0.12%, respectively.

The day’s winners included:

Services: up by 0.86%

Industrial: up by 0.63%

Property: up by 0.22%

Financials: up by 0.15%

“Local shares ended slightly above the 6,300 level, buoyed by ongoing bargain hunting ahead of the semester’s end. This reflected the mixed performance observed in US equities,” said Luis Limlingan, head of sales at Regina Capital Development Corp.

Market sentiment saw 90 decliners, surpassing the 85 advancers, with 69 stocks remaining unchanged.

Meanwhile, the peso closed at 58.86 against the US dollar, marginally down by 0.09 from the previous day’s closing rate of 58.77 per dollar.

The local currency opened at 58.82, weaker than the previous session’s start at 58.73. It traded within a range of 58.77 to 58.88, averaging 58.82 for the day.

The volume of trade decreased to USD 720.25 million from the previous week’s USD 814.1 million.

(el Amigo/mnm/With reports from PNA)

MANILA – Both the local stock market and currency improved their performance at the end of the week (Friday, 31 May 2024).

On Friday, the Philippine Stock Exchange index (PSEi) rose by 0.96% to 6,433.10, while the All Shares index increased by 1.12% to 3,463.87.

Claire Alviar, a research associate at Philstock Financials, Inc., noted that last-minute bargain hunting saved the PSEi from another day of losses, helping it to rebound to the 6,400 level.

“Investors seized the opportunity to buy stocks at attractive prices following a five-day decline,” Alviar added.

Among the indices, the Services sector experienced the largest gain, with shares rising by 4.21% from the previous trading day. This was followed by the Industrial sector, up by 1.99%; Property, up by 1.43%; and Mining and Oil, up by 0.86%.

Conversely, shares in the Financials and Holding Firms sectors declined by 0.73% and 0.51%, respectively.

Advancers outnumbered decliners 98 to 89, with 51 counters remaining unchanged.

Meanwhile, the Philippine peso strengthened, closing at 58.51 to the US dollar, up from Thursday’s close of 58.14. It opened the day at 58.53 and traded between 58.47 and 58.59, averaging 58.52 for the day.

The trade volume for the day increased to USD 1.55 billion, up from the previous day’s volume of USD 1.39 billion.

(Rep. by el Amigo/MNM)

MANILA – The Philippine stock market experienced a decline on Thursday (30 May 2024), while the peso fell to its lowest level since November 3, 2022.

The Philippine Stock Exchange index (PSEi) dropped by 39.66 points, closing at 6,371.75. The broader All Shares index also fell, losing 26.17 points to close at 3,425.57.

Philstock Financials, Inc. research and engagement officer Mikhail Plopenio attributed the market downturn to the rise in US long-term Treasury yields.

“The increase in yields led to a further depreciation of the Philippine peso against the US dollar, which subsequently weighed on the local bourse,” Plopenio explained.

Additionally, inflation concerns were heightened following a statement from the Bangko Sentral ng Pilipinas indicating a high probability that inflation could exceed the upper end of the 2% – 4% target range. “The local bourse’s decline was in line with neighboring markets, which also traded lower on Thursday,” Plopenio added.

Most sectors closed in negative territory, with the Properties sector suffering the largest loss at 1.49%, followed by Industrials, which declined by 1.27%.

In the broader market, losers outnumbered gainers by 132 to 57.

Meanwhile, the peso closed at 58.635 to the dollar on Thursday, weakening from its 58.42 close on Wednesday. This marks its weakest performance since the 58.80 close on November 3, 2022.

The peso opened the day at 58.5 and traded within a range of 58.5 to 58.73, with a weighted average of 58.62.

The total volume of trade slightly declined to USD 1.38 billion from USD 1.39 billion.

(el Amigo/MNM)

MANILA — The local stock market index experienced a downturn on Wednesday, mirroring the performance of other Asian stock exchanges, while the Philippine peso exhibited sideways movement.

The Philippine Stock Exchange index (PSEi) retreated to the 6,411.41 mark, shedding 89.93 points, equivalent to a 1.38 percent decline. Similarly, the All Shares index also dipped by 0.95 percent, settling at 3,451.74.

“The prevailing sentiment was dampened by the latest Monetary Policy Report, which underscored the Bangko Sentral ng Pilipinas (BSP) forecast of the Philippines’ economic growth falling short of government targets in 2024 and 2025 due to the impact of high interest rates. Overseas, most Asian markets also saw declines as investors evaluated regional inflation rates,” stated Claire Alviar, a Philstocks Financial, Inc research associate.

All sectors concluded in negative territory, with the Financials sector experiencing the most significant drop, down by 2.36 percent, followed by Services, Property, Mining and Oil, Industrial, and Holding Firms.

Losers surpassed gainers, totaling 127 to 70, while 40 firms remained unchanged.

In contrast, the peso weakened on Wednesday, closing at 58.42 against the US dollar compared to Tuesday’s finish of 57.97.

The currency opened at 58.07 and fluctuated between 58.07 and 58.51 throughout trading hours, averaging 58.29.

Trade volume increased to USD 1.4 billion from the previous day’s USD 1.24 billion.

(el Amigo/MNM)

MANILA — 2023 earnings and increased interest from foreign buyers propelled the PSEi upwards as the peso saw a strengthening trend, finishing at the 55-level.

On Wednesday, the Philippine Stock Exchange index (PSEi) surged by 42.70 points to reach 6,897.36, with All Shares also climbing by 18.40 points, closing at 3,600.10.

Market sectors displayed a mixed performance, with Property stocks leading the gains with a 1.89 percent increase, while Services experienced the most significant decline, dropping by 1.69 percent.

Claire Alviar, assistant research manager at Philstocks Financial, Inc., attributed the positive sentiment towards property stocks to the anticipation of a possible interest rate cut by the Bangko Sentral ng Pilipinas (BSP), coupled with strong earnings reports for 2023.

Foreign investor participation remained robust, with a net foreign buying of PHP505.86 million for the day, marking a consistent trend since early February, establishing foreigners as net buyers.

Total market turnover amounted to PHP4.20 billion for the day.

Meanwhile, the peso closed at 55.94 against the US dollar, showing sideways movement compared to its previous finish of 56.03. It opened the day at 55.99, trading within a range of 55.90 to 56.10, with an average level of 56 against the greenback.

Foreign exchange volume saw an increase to USD1.29 billion from USD1.14 billion in the previous trading session.

(With reports from PNA/el Amigo/MNM)

MANILA — The local stock market faced a downturn late Friday (18 Jan 2023), influenced by net foreign selling and the depreciation of the local currency against the dollar, breaching the PHP56 mark during trading hours.

Closing the week, the Philippine Stock Exchange index (PSEi) recorded a decrease of 7.33 points, settling at 6,503.54, while All Shares saw a marginal increase of 0.57 points, reaching 3,451.78.

Claire Alviar, Assistant Research Manager at Philstocks Financial Inc., attributed the market’s decline primarily to net foreign selling amounting to PHP802.44 million. Alviar mentioned, “The sentiment was further dampened by the depreciation of the peso. Meanwhile, many investors were still waiting for a fresh catalyst to move the market.”

Sectoral indices displayed mixed results, with the Industrial sector leading gainers by increasing 84.12 points and surpassing the 9,000 mark. Other gainers included Mining and Oil, which rose by 62.17 points, and Property, gaining 27.46 points. However, Holding Firms led the losers, declining by 27.05 points, followed by Services and Financials, which saw decreases of 17.85 points and 11.06 points, respectively.

Despite the overall decline in share values, there were more gainers than losers among index members, with 106 gaining, 65 losing, and 59 remaining unchanged.

The Philippine peso closed at 55.97 to the US dollar, a slight depreciation from the previous day’s finish at 55.84. The peso opened the day at 55.85, trading between a high of 56.02 and a low of 55.77 against the greenback during Friday’s session. The weighted average for the currency pair was 55.87 to a dollar, and the trade volume decreased to USD1.39 billion from the previous day’s USD1.43 billion.

(el Amigo/MNM)

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 — In a recent statement, the Philippine Stock Exchange, Inc. (PSE), expressed strong confidence in Finance Secretary Ralph Recto’s ability to propel the country’s economic growth and enhance investor confidence.

The board of directors and management of PSE extended their congratulations to Recto on his appointment and conveyed full support and best wishes for his new role.

“We congratulate Ralph G. Recto on his appointment as secretary of the Department of Finance,” stated PSE. “We extend our full support and best wishes to Secretary Recto on his new role and look forward to working with him in introducing reforms to further develop the Philippine capital market.”

Recto, a former deputy speaker and Batangas representative, officially assumed the role of Finance chief on Friday. The PSE anticipates that his leadership will contribute to introducing necessary reforms and fostering the growth of the Philippine capital market.

This positive outlook from the PSE underscores the significance of Recto’s appointment in shaping the country’s economic landscape and boosting investor confidence.

(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 – The local stock market and currency both exhibited strength on the first day of trading this week.

The Philippine Stock Exchange index (PSEi) surged back above the 6,000-point threshold following a three-day rally, posting an 88.76-point increase on Monday, bringing the index to 6,078.03. All Shares also saw an uptick of 29.10 points, settling at 3,292.15.

Except for the Industrial sector, which experienced a slight dip of 2.50 points, all sectoral indices concluded the day in positive territory. The Holding Firms sector saw the most significant gains, with shares rising by 126.43 points.

Claire Alviar, the assistant research manager at Philstocks Financial, Inc., attributed the strong PSEi performance to “the robust Philippine manufacturing PMI (purchasing managers’ index) data and a decrease in US long-term Treasury yields.” Alviar also mentioned, “Upcoming economic data releases, including the expected improvements in the inflation rate and GDP (gross domestic product) growth rate, further bolstered market confidence.”

The total market value turnover on the local stock market reached PHP3.21 billion.

Advancing stocks slightly outnumbered decliners, with 87 to 86, while 51 issues remained unchanged.

Robust start for the peso

On the currency front, the peso had a robust start to the week, closing at 55.91 against the US dollar, marking a 0.19 improvement from the previous week’s closing rate of 56.10.

The peso began the day at 55.80, a notable gain from Friday’s opening rate of 56.60. Throughout the day, the currency pair traded within the range of 55.73 to 55.93, with an average rate of 55.83 to the dollar.

Trade volume saw a decline to USD1.15 billion, down from Friday’s USD1.84 billion.

(ai/mnm)

The Philippine Stock Exchange index (PSEi) experienced a continued decline for two consecutive days, closing at 5,961.99, a 0.94 percent decrease. The broader All Shares index also saw a 0.60-point drop, settling at 3,246.47.

Regina Capital Development Corp.’s Head of Sales, Luis Limlingan, explained, “Philippine shares ended the week below 6,000 as investors analyzed a multitude of local corporate earnings reports.”

Investor sentiment on Friday was influenced by the off-cycle interest rate hike by the Bangko Sentral ng Pilipinas, contributing to the overall decline. All sectors ended in negative territory, with the Property sector experiencing the most significant drop at 1.72 percent.

Declining stocks outnumbered advancing ones, with a ratio of 93 to 78, while 53 remained unchanged.

In contrast, the Philippine peso remained stable at 56.96 against the US dollar. It began the day at 56.98, following the previous day’s opening rate of 56.95. Throughout the day, the currency pair traded between 56.85 and 56.98, with an average rate of 56.90 against the US dollar.

Trading volume continued to rise, reaching USD 1.65 billion on Friday, compared to the previous day’s volume of USD 1.08 billion.

(ai/mnm)