Philipines Market Insights 2018.10.25

フィリピン株式ニュースハイライト

News Highlights: Selling pressure weighed on US equities, on mixed corporate earnings & weak housing data. On the local front, A Memorandum of Agreement (MoA) has been signed by SM Prime Holdings, Inc. (SMPH), Tieng family’s Manila Goldcoast Dev’t. (MGDC) & Pasay Harbor City consortium that includes Dennis A. Uy (DAU) while Energy Sec. Cusi hopes to have Chinese firms invest in merchant coal-fired plants with 1,500MW capacity in the Phils.

マーケットモニター

各国市場モニター

フィリピン株式市場動向

PHILIPPINES

MOC selldown pulled PSEi to 7,129: Sessions remained range bound at 7,129-7,186, before market-on-close (MOC) sell-down pulled gauges 68 points lower at 7,129 (-0.95%). Save for services (+0.41%), other sectors nudged red, primed by financials (-1.8%). Among actively-traded shares: ALI (-P1.50 at P39.10); FB (-P0.90 at P83.80); VUL (-P0.38 at P2.50) fell, while SMPH (+P0.70 at P34.70); EEI (+P0.39 at P9); & STR (+P2.03 at P7.98) climbed. Turnover remained thin at P4.25bn, with gainers-losers, 74-112. Net foreign selling widened more than 5x at P700mn.

Spooked but not shaken: Sentiment will heed for local equities’ response to US equities’ sharp overnight slump, along with other markets in the region. Brave pickers are likely to seize this pessimism to position in stocks quick to recover from a rout, specifically those who see this more as US market’s ‘October phenomenon’. Second-liners & speculatives may continue to shine, backed by their respective stories. Immediate support is 7,050, secondary 7,000, resistance 7,150-7,180.

ASIA

Marts mostly dropped: Asian stock markets mostly ended lower on Wednesday as effects of the measures laid out by Chinese authorities to support markets and the economy has already waned with concerns on US-China trade tension still lingers.

WALL STREET

US shares tumbled: Selling pressure weighed on US equities, on mixed corporate earnings & weak housing data. DJIA lost 608 points at 24,583 (-2.4%), Nasdaq Comp. fell 329pts, 7,108 (-4.43%).

COMMODITIES

Crude slightly gained: Crude futures settled higher on Wednesday following EIA’s report that domestic crude supplies rose by 6.3 million barrels for the week ended Oct. 19, way above the 3.5mn barrels consensus. West Texas Intermediate (WTI) rose $0.39 to $66.82/barrel.

フィリピン国内各企業動向

SMPH, Tieng & DAU’s reclamation MoA signed:

A Memorandum of Agreement (MoA) has been signed by SM Prime Holdings, Inc. (SMPH), Tieng family’s Manila Goldcoast Dev’t. (MGDC) & Pasay Harbor City consortium that includes Dennis A. Uy (DAU). SMPH covers 360ha. while MGDC’s 148ha. Solar city is a JV with Manila LGU covering the southern parcel of Manila-Cavite costal road & reclamation. The 265ha. Pasay Harbor meanwhile, is a JV with Pasay LGU.

Robots in SM supermalls:

Customer service robots will be in SM Supermalls with SM group’s tie-up with Cal-Comp Technology (Phils.), Inc. The humanoid robots will feature smart voice interactivity, facial biometrics & POS systems, among others.

SECB ties up with fintech firm:

Security Bank Corp. (SECB) teamed-up with PisoPay.com that would allow remittance money transfers via online channels. SECB will use its inter bank fund transfer (IBFT) or Instapay facility & eGiveCash.

RWM unveils hotel openings:

Travellers International Hotel Group, Inc. (RWM) will have Sheraton Hotel’s opening before the end of the year, while Okura Hotel will be 1Q19. The 365-room Hilton Manila had its debut yesterday, with plans to expand to Clark, Pampanga in 2019. RWM aims to have 3,500 hotel rooms across its 7 hotel brands.

Ex-date 25 Oct. 2018:

Philippine Savings Bank (PSB) P0.75, payable 14 Nov.

フィリピン経済指標

Higher volume for spot market from China’s coal-fired plants:

Energy Sec. Cusi hopes to have Chinese firms invest in merchant coal-fired plants with 1,500MW capacity in the Phils. Talks are being made with China’s state-run National Energy Administration, ahead of the arrival of Chinese Pres. Xi Jinping next month. Cusi wants to increase the volume of the spot market to 20%.

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