The market continued its reversal trend with 3^rd consecutive days of staying in the green. Today the market is up by 1.81% with a net foreign buying of 92.4M

The index was led by  Bloomberry with 5.65% uptick and SM holdings with 4.17%.

1BLOOM5.65%

2SM4.17%

3ALI3.65%

4JGS2.88%

5SMPH2.80%

6GLO2.50%

7AP2.25%

8MBT1.99%

9AC1.82%

10BDO1.53%

11AGI1.24%

The sentiment seem to move away from the Mining sector as this is the only index in the red for the whole day of trading. Mining loose its ground by -1.36%

The government is set to decide the next quarantine classifications as the previous schedule for ECQ was from August 6-20, 2021. It is yet to be known if the ECQ is to be extended as the current cases of Covid19 is still above 10k level for the past few days.

The Department of trade and Industry are backing the proposal from small business groups to loosen mobility restrictions. It remains to be seen whether the vaccination drive by the government has had an impact on lowering the effect of the virus especially now that there is a local transmission of the Delta variants.

Meanwhile outside of the index, Emperador Inc continues its bullish momentum is it gained 12.85% on the day after news of the company listing.

According to Emperador Chairman Andrew Tan

“We are very excited at the prospect of becoming the first-ever PSE-primary listed company to conduct a secondary listing in the SGX and are optimistic that our secondary listing will serve as a catalyst to enhance the strategic collaboration between the PSE and the SGX,”

After the massive correction last Friday with the index closing as low as -3.6% due to blue chips and other indexes rebalancing, the market rebounded strongly today as predicted by market observants.

The index moves high during the trading and close by a jump to +3.06%. It closed at 6,513.6 level.

Blue chip index dominates the reversal for the day

1AGI 8.33%

2ICT 7.06%

3URC 6.12%

4SM 5.70%

5FGEN 5.58%

6JGS 5.45%

7AEV 5.41%

8SMC 4.59%

9ALI 3.47%

10RLC 3.01%

11SMPH 2.95%

12JFC 2.91%

13PGOLD 2.90%

14GLO 2.55%

15BLOOM 2.08%

Outside of the index, Emperador dominated the gainer for the day as it moved more than 16% after pre-close period. You read our article here ” Emperador fundamentals are intact price up by more than 15%”

Meanwhile the news of first case of the new Lambda variant is circulating already. According to DOH Usec Vergeire says the first case of Lambda variant in the country, a 35-year-old woman from Region 6, is pregnant has already recovered.

In addition, she mentioned that the current lockdown situation effect will be seen only after 2 to 3 weeks of the hard lockdown

The government is set to discuss this week the new quarantine classifications for the remaining days of August.

Equities on Asian indexes are in red with Japan Nikkei index dropping the most at -1.81%