Infrastructure plays, global listing, and market gains

Here’s a recap of last week’s (ending June 27) market activity from First Metro Securities.

Property news

MICE infrastructure. SM Hotels and Convention Corp., a unit of SM Prime Holdings (SMPH), is allocating P5.3 billion to strengthen its meetings, incentives, conventions, and exhibitions (MICE) footprint. The flagship development—SMX Convention Center Seaside Cebu—is slated to open in Q3 2026, and is positioned to become one of the largest and most advanced event venues in the Visayas.

Historic Nasdaq debut. Hotel101 Global, the international arm of DoubleDragon Corp. (DD), debuted last week on the Nasdaq under the ticker symbol HBNB, becoming the first Filipino-owned company listed on the U.S. exchange. The company is targeting a $2.3 billion global expansion across 101 countries, showcasing Filipino ambition on the world stage.

Economic news

Trade deficit. The Philippines’ trade deficit narrowed by 30.4 percent to$3.29 billion in May, as exports surged by 15.1 percent to $7.29 billion, outpacing import growth. The rebound in electronics and resource-based products contributed significantly to the export performance.

Fuel rollback. Following a sharp fuel price increase of over P5 per liter last week, the Department of Energy anticipates a rollback exceeding P2 per liter this week. This is attributed to declining global oil prices after a ceasefire agreement between Israel and Iran helped ease geopolitical tensions.

Flood control project. Despite initial delays, the Metro Manila Flood Management Project, backed by the World Bank and Asian Infrastructure Investment Bank (AIIB), has already improved the lives of over 600,000 residents and successfully resettled 400 families, according to a new joint report by 10 global development banks advocating water resilience.

Record budget approved. The Development Budget Coordination Committee (DBCC) has approved a P6.79 trillion national budget for fiscal year 2026—a 7.4 percent increase from 2025. The budget emphasizes investments in social services, infrastructure, and digital transformation, aimed at sustaining growth amid global economic headwinds.

Housing prices. Residential property prices rose by 7.6 percent year-on-year in Q1 2025, albeit slower than the previous quarter. Metro Manila posted a sharp 13.9 percent increase, driven mainly by rising prices of condominiums and houses, based on data from the Bangko Sentral ng Pilipinas (BSP).

Philippine Stock Exchange index

PSEi: 6,408.27 (+77.62 points; +1.23 percent); Val T/O P5.85 billion; $103.53 million (ex-block)

The local bourse ended the week on firmer ground, with the benchmark PSEi climbing 77.62 points (+1.23 percent) to settle at 6,408.27. The upswing tracked the broader regional rally, as investors reacted positively to Wall Street’s rebound, bolstering risk appetite across Asian markets.