Published May 19, 2021, 4:09 PM
The local stock market ended flat on late buying after investors picked up shares sold down earlier in the session.
The main index inched up 0.97 points or 0.03 percent to close at 6,245.71 with only the Industrial sector advancing while the Financials counter held its ground.
Volume dropped to 1.56 billion shares worth P4.83 billion as gainers beat losers 115 to 82 with 47 steady.
“It was another quiet trading session in the Philippines after another bout of earnings results from major US retailers slightly cooled fears of high inflation,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He added that “Others remained on the sidelines after the media reported that the U.S. and Iran restarted talks on a deal that will restrict the latter’s nuclear weapons development. Investors also are still monitoring the progress of the covid vaccinations.“
Published May 11, 2021, 4:38 PM
The local stock market managed to hold its ground despite news that the Philippine economy’s performance was worse than expected.
The Philippine Stock Exchange index (PSEi) inched up 9.42 points or 0.15 percent to close at 6,326.83 as sectoral indices were evenly mixed.
Photo credit: PSE Information Desk
Volume remained anemic at 9.95 billion shares worth P4.64 billion as losers beat gainers 122 to 82 with 43 steady.
“Philippine shares closed in the green despite the lower than expected first quarter GDP print as investors focused on the rebalancing of the MSCI, and more earnings releases,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
The Philippine stock market dropped further on concern that the April inflation rate remained high.
The main index fell 59.46 points or 0.94 percent to close at 6,299.69 with only the Mining and Oil counter advancing.
Photo credit: https://www.pse.com.ph
Volume also fell, down to 4.15 bi
Photo credit: https://www.pse.com.ph
The main index lost 61.03 points or 0.94 percent to close at 6,439.39 although the Services sector managed to advance.
Volume remained thin at 3.46 billion shares worth P5.37 billion as gainers actually outnumbered losers 108 to 92 with 52 unchanged.
“Philippine stocks slipped anew as regional COVD-19 cases continue to pile up around the world,” said Regina Capital Development Corporation Managing Director Luis Limlingan
He noted that, “Another round of better-than-expected earnings did little to push benchmarks up. Equity prices retreated from recent highs amid concerns that India will impose coronavirus-related restrictions as well.”
Philstocks Research Associate Claire Alviar said “The local bourse declined along with regional peers following the drop of the US markets overnight as concerns over the rising Covid-19 cases globally weighed on sentiment.”
Photo credit: https://www.pse.com.ph
The PSEi dropped 60.85 points or 0.93 percent to close at 6,457.79 with only the Services counter managing to eke out a gain.
Volume improved slightly to 1.93 billion shares worth P6.1 billion as losers beat gainers 134 to 64 with 50 steady.
“The local bourse’s downtrend persisted, settling below the key 6,500 level. This, as the government announced the possibility of stricter lockdown measures should the cases continue to rise, and as the COVID-19 death toll breached 15,000 yesterday,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Philstocks Financial Senior Analyst Japhet Tantiangco said “The local bourse extended its decline as our COVID-19 situation continued to weigh on investor confidence. This comes as our daily additional Coronavirus cases remain elevated, in turn, clouding our economic outlook.”