The PSE market continued its Bullish movement for the third day, moving by as much as 5% consecutively. The index did reach more than 2% today but profit taking took place before the pre-closing period of the market. All major indices are moving up with the Banks sector leading the group movements.

It seems the market is pricing the lower than expected inflation rate in the US as announced from the past few days. US inflation is at 6.5% last December.

The Philippines forecast inflation for year 2023 is 5-5.2% which indicates that likely the inflation have peaked last December.

Philippine exchange rate for the day is also going strong after US dollar weakens to  54.53php/dollar.

The index closed at 7,045.48 level and still with a net foreign buying of +1.08 Billion pesos marking the start of the BULL RUN of Philippine equity index since its low of 5,700 level since October of last year.

For the blue chip stocks SM (4.30%), BDO(+5.46%) and AC (+3.92%) led the winners while losers’ were led by CNVRG (-7.92%) and WLCON (-4.98%). CNVRG was gaining prior pre-close but pulled down due to profit taking.

Finance dominated the market with 2.80% gain together with Holding at +2.43%.

GAINERS

1. BDO                     5.46%
2. SM                       4.30%
3. AC                        3.92%
4. GTCAP                 3.66%
5. AGI                      3.47%
6. AP                        3.42%
7. MONDE              3.18%
8. SMC                     2.87%
9. BPI                       2.18%
10. ALI                       1.94%
11. LTG                      1.53%
12. MPI                      1.52%
13. TEL                       1.42%
14. JFC                       1.22%
15. ICT                       0.96%

LOSERS

1. CNVRG                -7.92%
2. WLCON               -4.98%
3. SCC                      -3.59%
4. URC                     -3.47%
5. JGS                       -2.48%
6. AEV                     -1.09%
7. MEG                    -0.92%
8. ACEN                  -0.84%
9. MBT                    -0.76%
10. SMPH                  -0.53%
11. RLC                      -0.27%

In ASIAN market majority are in upward movement as well, reflecting the good sentiment from US and Europe markets yesterday. Dow jones was up by 0.33%, Nasdaq 0.71% and S&P500 by 0.40%

US and ASIAN Indices Performance:

Symbol	Name	Last Price	Change	% Change
^GSPC	S&P 500	3,999.09	15.92	0.40%
^DJI	Dow 30	34,302.61	112.61	0.33%
^IXIC	Nasdaq	11,079.16	78.06	0.71%
^NYA	NYSE COMPOSITE (DJ)	15,918.37	58.87	0.37%
^XAX	NYSE AMEX COMPOSITE INDEX	4,275.54	62.12	1.47%
^BUK100P	Cboe UK 100	785.42	4.21	0.54%
^RUT	Russell 2000	1,887.03	10.97	0.58%
^VIX	CBOE Volatility Index	18.35	-0.48	-2.55%
^FTSE	FTSE 100	7,844.07	50.03	0.64%
^GDAXI	DAX PERFORMANCE-INDEX	15,086.52	28.22	0.19%
^FCHI	CAC 40	7,023.50	47.82	0.69%
^STOXX50E	ESTX 50 PR.EUR	4,150.80	24.12	0.58%
^N100	Euronext 100 Index	1,326.90	8.37	0.63%
^BFX	BEL 20	3,940.32	21.74	0.55%
IMOEX.ME	MOEX Russia Index	2,222.51	-4.14	-0.19%
^N225	Nikkei 225	25,817.65	-301.87	-1.16%
^HSI	HANG SENG INDEX	21,896.62	157.96	0.73%
000001.SS	SSE Composite Index	3,241.35	46.04	1.44%
399001.SZ	Shenzhen Index	11,847.21	244.91	2.11%
^STI	STI Index	3,287.56	-6.19	-0.19%
^AXJO	S&P/ASX 200	7,383.00	54.9	0.75%
^AORD	ALL ORDINARIES	7,598.50	58.4	0.77%
^BSESN	S&P BSE SENSEX	60,366.58	105.4	0.17%
^JKSE	Jakarta Composite Index	6,652.49	10.66	0.16%
^KLSE	FTSE Bursa Malaysia KLCI	1,489.92	-5.11	-0.34%
^NZ50	S&P/NZX 50 INDEX GROSS	11,811.24	56.8	0.48%
^KS11	KOSPI Composite Index	2,404.41	18.32	0.77%
^TWII	TSEC weighted index	14,910.28	86.15	0.58%

Source: Yahoo Finance.