Trade winds and property plays
Here’s a recap of last week’s (ending April 16) market activity from First Metro Securities.
Property news
DoubleDragon Corp., (DD) led by tycoons Edgar “Injap” Sia II and Tony Tan Caktiong, is expanding into essential retail by acquiring a 35 percent stake in MerryMart Consumer Corp., a grocery and pharmacy chain owned by Sia.
SM Offices, a unit of SM Prime Holdings (SMPH), reported a 95 percent occupancy rate across its 15 mall-based offices as of January, driven by growing demand for mixed-use developments, provincial expansion, and employee-friendly locations with recreational amenities.
Economic news
Trade tensions. Capital Economics has warned that net importers like the Philippines should prepare for a surge in Chinese goods as Beijing redirects exports amid escalating US-China trade tensions. Philippine imports from China already rose 19.4 percent in early 2025.
Competitive tariffs. British Chamber of Commerce Philippines executive chairman Chris Nelson highlighted the importance of trade diversification for the Philippines amid rising US tariffs. He pointed out the country’s competitive 17 percent tariff rate and its strong appeal as a fast growing, investor-friendly economy.
Market wrap
Philippine Stock Exchange index (PSEi): 6,134.62 (-51.48 pts; -0.8300 percent)