Strong signals, momentum, and renewed interest
Here’s a recap of last week’s (ending May 2) market activity from First Metro Securities.
Property news
Turnover. PHirst Park Homes, Inc., the affordable housing venture of Century Properties Group (CPG) and Mitsubishi Corp., targets the turnover of 10,000 plus housing units by mid 2025. This forms part of its milestone 15,000 unit construction pipeline spread across 27 active projects in Luzon and the Visayas.
Buyback arrangement. PH Resorts Group (PHR) is urgently seeking new investors or a buyback arrangement for its stalled $300-million Cebu casino project. The lapse of its leaseback agreement with China Bank has left the property exposed to potential sale, even as discussions with EEI Corp. and other parties continue amid competitive bidding concerns.
Economic news
Gaming activity. Pagcor posted an 11 percent revenue increase to P28.07 billion in Q1 2025, driven by operational reforms and strong gaming activity. This resulted in a 23 percent rise in net income and a 21.5 percent jump in contributions to nation-building efforts.
Strategic investments. The Philippines is stepping up its bid to become a regional hub for smart and sustainable industries by streamlining strategic investments through reforms such as the Green Lane Program. To date, more than P5.17 trillion worth of projects have been endorsed, aimed at accelerating green growth and job generation.
Market wrap
Philippine Stock Exchange index (PSEi) 6,411.86 (+56.87 pts; +0.89 percent)
The Philippine equity market resumed trading on a strong footing, extending its winning streak to a third consecutive session. The PSEi surged by 56.87 points (+0.89 percent) to close at 6,411.86, finally breaching the 6,400-resistance level amid a shortened trading week.
The index remained comfortably in the green throughout the session, buoyed by continued bargain hunting, renewed foreign interest, and resilient regional sentiment. Net foreign buying amounted to P660.33 million, adding liquidity and reinforcing bullish momentum.
