The PSE market seem to disregard the upcoming decision by the government whether to stay in ECQ or move down a bit from its strict restrictions to MECQ. Malacanang is set to announce the remaining days of August quarantine classification by Friday,August 20,2021, according to Spokesperson Harry Roque.

It remains to be seen whether the palace will favor the lighter MECQ classification with the rising cases of people affected with Covid variant, especially that we are dealing with the Delta variant. Its strong uptrend move broke the immediate resistance at 6,600 key lelvel.

The index close at 6,718 very close now the 6,800 resistance level. This is the fourth straight day that the index ended in green.

Alliance global holdings (AGI) led the market uptick during the pre close period as it surged up to 8.05% following the news that its subsidiary Emperador will list in SGX.

EMP is keen to push through with a secondary listing on the main board of the Singapore Exchange (SGX), with its board of directors already signaling management to accomplish the requirements as soon as practicable.

1AGI 8.05%

2AEV 3.90%

3JGS 3.46%

4CNVRG 2.76%

5LTG 2.76%

6BLOOM 2.59%

7RLC 2.45%

8PGOLD 2.44%

9RRHI 2.20%

10ALI 2.06%

11MER 1.75%

Outside of the index Ginebra San Miguel (GSMI) followed the closed with 13.91% gain for the day.

Mining sector still still on the red as it dropped again by -1.82%

Outside of the Philippine stock market, Asian indexes were all in red following the correction being felt across US and Europe. Majority of the indexes are in red.

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,”