Stocks end higher


The benchmark Philippine Stock Exchange Index (PSEi) ended with a “surprise” gain Monday, allowing it to close in the green for a fourth straight session. The PSEi closed 61.34 points higher, or 0.95 percent, at 6,526.62.

Analysts were expecting a drop Monday after the main price index gained 4.6 percent the previous week. Elsewhere in the region, stocks ended mixed after China reported that manufacturing output came in slower than expected. Most regional stock markets fell as investors locked in profits made from last week’s rally following concerns of a stimulus cut in the United States and signs of an economic slowdown in China.

“The increase [Monday] was unexpected with data from China dragging on sentiments. Also, last week we saw gains but that was more of window-dressing for the end of the month,” Maria Arlysa Narciso, equities analyst at stock brokerage firm AB Capital Securities Inc., said in a phone interview.

Other analysts said the Philippine equities market bucked the regional trend as bargain-hunters bought stocks heavily battered by foreign selling two weeks ago.

All sub-indices closed in the green Monday, led by holding firms and followed by property developers. Trading volume hit 1.07 billion shares valued at P6.61 billion.

Narciso said investors might be testing the market, given that the PSEi managed to keep gains above 6,000 despite earlier fears that it would drop to 5,500.

She added that the volume Monday suggested that confidence was returning to the market after a steep fall last month that saw the benchmark measure wipe out almost all of its gains for the year. At its lowest level, the PSEi closed at 5,789.06 on June 25, about 0.4 percent below its closing level in 2012.

Still, the analyst noted that recent gains might not be sustainable.

“I’m not sure if we can hold on to this level for now. The performance of the market last week was not sustainable and there could be a correction sometime this week, but hopefully not a sharp decline,” she said.

Data from the PSE showed that SM Investment Corp. was the most actively traded Monday, with a gain of 2.8 percent at P1,100 a share. This was followed by Ayala Corp. (+5.52 percent), SM Prime Holdings (+2.09 percent), Philippine Long Distance Telephone Co. (-0.34 percent) and Megaworld Corp. (+0.91 percent). Miguel R. Camus

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  • ernievictory

    inakupo . asar na naman ang mga kritiko ng gobyerno na sala sa init , sala sa lamig ! ngayong tumataas na naman ang stock market sa pinas, sasabihin nila na tsamba lang yan at hindi ibig sabihin ay umiigi ang economy ng bansa pero pag bumababa ang stock market , sangkatutak ang posts ng mga supot at naguunahan pa silang magsabing , bagsak ng ang PNoy gov’t ! bweseeeeeeet….

    • spitfire

      No reason to desperately lift your idol’s chair. Volatility is the name of the game unless you don’t understand the term.

      Look at the stock market today and it’s ernieloser again so to speak, after your initial brouhaha rebound. bweseeeeeeet….

      • ernievictory

        volatility ? anu yun , bulate ? parang ikaw ….bwaha ha ha


    Consolidation is going on….SWEET!

  • spitfire

    Why is the administration of PNoy so engrossed with the stock market when stocks and bonds are only passive investments? What shows good economic standing are the foreign direct deposits (FDIs) because these are the monies that build infrastructures and create jobs. So what kind of “sound economic fundamentals are they talking about when our FDIs are receding?

    Another website has published the latest standing of FDIs in Asean nations and these are: Singapore – 57 billion, Indonesia – 19 billion, Malaysia – 10 billion, Vietnam – 7 billion, Philippines – a measly 2.8 billion and Myanmar – 2.1 billion. Singapore which has only 6 million people is the highest while we are second to the last and soon will be overtaken by Myanmar which is under a military rule. Revolting and yet PNoy;s laughdogs are always flaunting good economic fundamentals, whatever it is.

    • bongarroyo

      depress ka na naman pekeng torney sfakefire dahil tumaas na naman..LOL

      sa ibang website nga ang baolita mas lalo pang tumatatag ang pilipinas dahil sa galing ni PNOy.

      ano ka ngayon? LOL

      • Prangka

        Actually may katwiran siya. Hindi tayo dapat lagi na lang umasa sa OFW’s, ang pangunahing dahilan kung lumulutang tayo sa kabila ng paghina ng economiya sa buong mundo. Samantalahin natin habang nariyan sila umaalalay sa sambayanang Pilipino sa pamamagitan ng paghanap ng solusyon sa mga bagay na ayaw ng FDI’s.

      • spitfire

        Bobongangangarraw, asan na yong pinagyayabang ng amo mong Kulot na bilyonbilyong pledges tuwing naglalamierda siya sa ibang bansa? Wala, nada, ziltch, zero. Sa halip negative pa. Puro pautot lang ang alam njinyo. Parang bongangarraw na kagaya mo lang itinubo, puro negative. Pati special deposit accounts SDAs bumabagsak. Hayan, basahin mo at may bukod na news item.

        Nganga LOL

    • Prangka

      Perhaps stocks and bonds are the first thing foreigners would look into by FDI’s. Unfortunately high cost of power would eventually kill the prospects. If only our country could introduce sort of tapping renewable source of energy rather than tapping on distribution system where electricity would no longer become an issue then FDI’s would prefer our country than anywhere else. We are hopeless with EPIRA but we can source energy from somewhere else.

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