PSE Market Recap (June 22)
Close: 7609.14, +7.97 pts, +0.11%
Volume: 530,136,303 million
Value: Php5,443,653,582.40
Advancers: 97
Decliners: 67
Unchanged: 40
Yesterday, the PSE went live with its new Nasdaq based trading system. Although the Philippine Star’s headline states “New trading system boosts market”, the market actually registered lower trade volumes and trade values compared to those recorded on Friday, June 20. Trading volume was down about -383 million from the previous trading day, while trading value was down by about – Php3.2 billion.
PSE MARKET RECAP (JUNE 20)
Close: 7601.17, -5.69 pts, -0.07%
Volume: 913,341,097 million
Value: Php8.6 billion
It’s a new trading system, so trading volumes may have been affected by the switch as market players try to get used to it. It seems, too, that a majority of market players are still using the old trading platform – Technistock (based on what I hear from market players). We’re trying to ascertain when full migration by market players to the new Nasdaq-based trading system will take place. It would also be interesting to find out how much of yesterday’s trading volume was done on the new platform versus the old platform.
Sector Performance
- Mining & Oil sector was the worst performing sector down about -117% with trade value of Php125 million.
- Holding Firms was pretty much flat with slight downward change of -6.53% with trade value of Php1.2 billion.
- Services was up +2.13% and Property up by +1.82%.
- The main index driver seems to have been the Industrial sector which was up +74.16% on trade value of Pbp1.7 billion.
Foreign Buying/Selling
The market saw foreign selling outpace net foreign buying. Foreign buying was at Php2.6 billion versus net foreign selling of Php3.3 billion. Net foreign selling at Php600,415,076.
The Banks
- Bank of the Philippine Islands (BPI) saw net foreign selling = -Php107 million
- Metrobank – net foreign selling = -Php554.5 millioon
- Security Bank – net foreign sellilng = – Php21.2 million
- Banco de Oro – net foreign buing = +Php7.74 million
- Asiatrust – net foreign byuing = +Php962 million
Industrials
- First Gen, which closed at Php15.35 saw the highest net foreign selling in this sector at – Php52.7 million.
- Meralco, which closed at Php290, also saw net foreign selling at -Php17.9 million.
Holding Firms
- SM INvestments – net foreign selling = -Php310 million
- Ayala Corporation – net foreign selling = -Php103.1 million
- Sna Miguel Corp – net foreign selling = -Php19.9 million
- DMCI Holdings – net foreign selling = – Php17.4 million
- Aboitiz Equity Ventures – net selling = -Php11.8 million
- JG Summit – net foreign buyin = +Php45 million
Property
- Ayala Land – net foreign selling = – P122.1 million
- Megaworld – net foreign selling = – Php46.4 million
- Vista Land -net foreign selling = – Php29.2 million
- Robinson’s Land – net foreign selling = -Php26 million
Telecoms
- Globe – net foreign selling = – Php 33.7 million
- PLDT – net foreign selling = -Php3.7 millon
Casino & Gaming
- Bloomberry – net foreign buying = +Php14.5 million
Mining
- Semirara Mining – net foreign selling = -Php32.5 million
- Nickel Asia – net foreign selling = -Php14.7 million
Corporate Briefs and some things to keep an eye on
- Meralco to shut down 10 power plants for maintenance over the next two months. – Manila Standard Today
- Century Properties expanding into hotels with an agreement with Accor to manage its Novotel Suites Manila. This will be located at Acqua, and continues on with the current trend of developers of residential complexes integrating such “hotel” suites. – Inquirer
- DMCI to develop more housing projects in the provinces to drive sales growth by 10%. Five projects expected to be launched in 2015, and is targeting sales of Php22 billion for 2015 vs. last year’s sales of Php20 billion – Philippine Star
- The House of Representatives approved a bill allowing mobile phone users to unlock their handsets before termination of lock-in period. – Business Mirror —– Great for the consumers, but how will this affect telcos?
- The country’s foreign debt decreased from US$77.7 billlion to US$75.3 billion, down -Php2.4 billion. April’s borrowing of Php25.3 billion is also lower by 5.3% vs Aril 2014 borrowings of Php29.3 billion. – Manila Standard Today | Inquirer
- S&P says that the risk of a property bubble in the Philippines is “easing”. It commends monitoring efforts by the Bangko Sentral ng Pilipinas (BSP) of the sector, which prompted the BSP to set up measures to keep property prices under control. One such measure is the new capping real estate values for collateral use at 60%. – BusinessWorld
One last thing …
VP Jejomar Binay quit his cabinet post yesterday. – Rappler
Campaign season begins it seems.
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