(Last Updated On: January 16, 2023)
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%.
- BDO 5.46%
- SM 4.30%
- AC 3.92%
- GTCAP 3.66%
- AGI 3.47%
- AP 3.42%
- MONDE 3.18%
- SMC 2.87%
- BPI 2.18%
- ALI 1.94%
- LTG 1.53%
- MPI 1.52%
- TEL 1.42%
- JFC 1.22%
- ICT 0.96%
- CNVRG -7.92%
- WLCON -4.98%
- SCC -3.59%
- URC -3.47%
- JGS -2.48%
- AEV -1.09%
- MEG -0.92%
- ACEN -0.84%
- MBT -0.76%
- SMPH -0.53%
- 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|
|^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%|
|^VIX||CBOE Volatility Index||18.35||-0.48||-2.55%|
|^STOXX50E||ESTX 50 PR.EUR||4,150.80||24.12||0.58%|
|^N100||Euronext 100 Index||1,326.90||8.37||0.63%|
|IMOEX.ME||MOEX Russia Index||2,222.51||-4.14||-0.19%|
|^HSI||HANG SENG INDEX||21,896.62||157.96||0.73%|
|000001.SS||SSE Composite Index||3,241.35||46.04||1.44%|
|^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.