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(Last Updated On: October 18, 2022)

After a bullish sentiment yesterday night from the US stock market, PSE market followed its que and was up the whole day with a gain of +2.65% at the closing. A very strong close we have not seen from last months trading. Is this a bullish reversal?

PSE Stock following US stock based on CPI data?

The US CPI data was released last week and based from the news, it closed at 8.2% for September. This is slightly lower than last months CPI record which is 8.3%. It drop by one tenth of a percentage points. We will have to guess whether this is the effect of the aggressive interest rate hikes by the Fed which spur sell off in the riskier assets like the stocks.

The PSE market index close at level 6,128.64 with a net foreign buying of 728.25 Million. Finally the market reach 6k level after its bottom below 5.7k level.

On the index side the property sector (+4.20%) led the market movers for the day. Majority of indices of the market are on the positive territory as well.

INDEX   PREV LAST DIFF                  % CHG

PSEi       5,970.33 6,128.64 158.31              2.65%

ALL        3,198.63 3,253.51 54.88                1.72%

FIN        1,502.31 1,544.01 41.70                2.78%

IND        8,693.45 8,754.59 61.14                0.70%

HDG      5,763.54 5,891.82 128.28              2.23%

PRO       2,597.20 2,706.27 109.07              4.20%

SVC       1,529.48 1,563.53 34.05                2.23%

M-O      10,651.20 10,753.08 101.88          0.96%

For the blue chip index JGS (11.3%) led the gainers together with the property stocks like ALI (7.72%) and MEG at 5.42% while there are only 4 losers of the Blue chip index.

GAINERS

1JGS      11.30%

2ALI       7.72%

3AC                     6.39%

4MPI                   6.02%

5MEG                 5.42%

6MBT                  4.85%

7GLO                   4.82%

8BDO                  4.24%

9GTCAP               3.14%

10SMPH              3.03%

11MONDE          2.89%

12ICT                  2.67%

13AEV                 2.59%

14PGOLD            2.55%

LOSERS

1MER                  -2.24%

2SM                     -1.63%

3CNVRG              -1.56%

4SMC                  -0.10%

The ASIAN markets followed the bullish move as well today, majority of the indices are in the positive side of the market.

SymbolNameLast PriceChange% Change
^N225Nikkei 22527,156.14380.351.42%
^HSIHANG SENG INDEX16,827.23214.331.29%
000001.SSSSE Composite Index3,076.63-8.32-0.27%
399001.SZShenzhen Index11,177.6715.410.14%
^STISTI Index3,022.036.280.21%
^AXJOS&P/ASX 2006,779.20114.81.72%
^AORDALL ORDINARIES6,976.20121.91.78%
^BSESNS&P BSE SENSEX59,002.46591.481.01%
^JKSEJakarta Composite Index6,847.2916.180.24%
^KLSEFTSE Bursa Malaysia KLCI1,392.316.040.44%
^NZ50S&P/NZX 50 INDEX GROSS10,847.3461.420.57%
^KS11KOSPI Composite Index2,248.3628.651.29%
^TWIITSEC weighted index13,124.68158.631.22%
^GSPTSES&P/TSX Composite index18,621.02294.671.61%
ASIAN Index performance

US market yesterday closed with Nasdaq (3.43%), S&P500 (+2.65%) at  and Dow jones (1.86%). US dollar strength seems to have come to a halt for the last 2 days.

SymbolNameLast PriceChange% Change
^GSPCS&P 5003,677.9594.882.65%
^DJIDow Jones Industrial Average30,185.82550.991.86%
^IXICNASDAQ Composite10,675.80354.413.43%
US index status yesterday

US Stock futures are pointing to a bullish market tonight as well.

US Futures


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palaboytrader

Joey is the founder of a Philippine Stock Market Youtube channel and also known as “Palaboy Trader”. He does daily review of Trending stocks and teaches basics of Investing and trading. He has the aim to educate Filipinos to be financially independent He is also is an Overseas Filipino Worker Currently working in a Multinational Company in Malaysia

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