• 27
  • May
PSE Market Closed on a Higher Note, Edge up by 1.21%
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The PSE market closed higher on Friday as it ended the week with a green candle. The index move up today by 1.21%. The market is seen to digest the proclamation of Philippine next president Bongbong Marcos (BBM) and the announcement regarding the appointment of Banko Sentral ng Pilipinas, BSP Governor Diokno as the next Finance secretary. BSP Governor Benjamin Diokno will succeed Carlos Finance Secretary Dominguez III.

The index closes to 6,726.14 and formed a higher low formation on its technical charts. This is the second day that the market closed with a net foreign buying. Today it closed with 160.1Million net foreign buy and yesterdays closed with 300Million net buyers.

PSE market was led by the property sector with SM Properties (SMPH, 3.0%) and Ayala land Inc (ALI, 2.85%). For the blue chip index Alliance Global Incorporated (AGI, 3.61%) helped lift the market sentiment. While JGS (-1.63%) and BPI (-1.44%) led the index losers.

GAINERS% GainLOSERS% Loss
1AGI3.61%1JGS1.63%
2BDO3.33%2BPI1.44%
3SMPH3.00%3GLO1.41%
4AC2.88%4WLCON0.55%
5ALI2.85%5LTG0.36%
6AEV2.82%6SMC0.19%
7GTCAP2.10%
8MBT1.99%
9CNVRG1.73%

In the Global markets, US closed yesterday in high note as well with S&P 500 at 1.99%, Dow Jones at 1.61% and Nasdaq Composite index at 2.68%. ASIAN markets were higher today as well. The overall market sentiment is optimistic at the moment.

Courtesy: Yahoo finance
Courtesy: Yahoo finance
  • 19
  • May
PSE Market Corrected by 1%, followed ASEAN Peers
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PSE Market Corrected by 1%, followed ASEAN Peers

The ASEAN markets dipped following the sell-off that happen yesterday from the US market. Dow jones dropped by as much as -3.75%, S&P 500 by -4.04%while Nasdaq index fell hard by -4.73%. Interest rate hikes fear still up in the air, together with the rising US inflation.

ASEAN markets drop was led by Hongkong Index (-2.42%) and India (-2.22%)

Majority of the indexes are in red as well.

In the Philippines, PSE Market drop by 1% where Holdings stocks fell the most (-1.84%) followed by property stocks (-1.54%). Net foreign selling of -315,016,828 was recorded today.

Stock gainers led by MONDE (+5.09%) and Banco De Oro (3.78%) possibly because MONDE inclusion during the MSCI rebalancing improve its outlook from the investors side. BDO maybe leaning on the possible interest rate hikes to be implemented by BSP (Banko Sentral ng Pilipinas)

Stock Losers include SM holdings (-3.56%), Ayala land Inc (-2.95%) and ICT (-2.94%).

BSP analysts are expecting the government to increase the interest rates for the coming June fiscal review, this is because of the high inflation recorded last month, government target 2-4% but inflation reached 4.9% last April. It was noted as well that the government also approved a wage rate hike of more than 30 pesos/day.



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