Philippines Market Insights 2017.10.18

フィリピン株式ニュースハイライト

News Highlights: Security Bank (SECB) would be issuing an initial P5bn long term negotiable certificate of deposits (CD) that will carry a tenor of 5yrs & 6mos, with an indicative rate @3.875% p.a. Meralco (MER) chief Reyes sees a 4.4% growth in 9M17 sales volume , with 3Q running at 6%-7%. On the economic front, car sales for September reached 34,445 units, higher by 9.5% from same period last year’s 31,451 units, according to a joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA).

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

Mart hits record-high on Marawi liberation, PSEi @ 8,498: Mart breached an all-time, intra-day high of 8,587 as the conflict in Marawi finally ends after 5 months. Sectors ended mixed, with all in red except Holdings and Services firms. Among actively traded shares were: AC (+P21.00 at P1,092.00), ALI (-P0.85 at P42.50), BDO (+P0.20 at P143.50), SMPH (+P0.80 at P37.30), and URC (-P3.00 at P146.00), on 11.76bn turnover. Losers edged out gainers, 88-121, with net foreign buying at P498.43mn.
Trade cautiously: Mart might sustain its upward trajectory after nearing the 8,500 mark as the Marawi conflict wraps up, though renewed tensions from No.Kor. and the US could taper off gains as some investors might also use this opportunity to take profits. Immediate support 8,400, resistance 8,550.

ASIA

Mostly flat: Most Asian bourses ended unchanged yesterday, while Japan markets continued to rally for the 11th straight session, led by automakers and manufacturing. Markets mixed closed in China as investors await the once-every-five-years meeting of the Communist Party starting Oct 18.

WALL STREET

Shares end at records: Both the Dow and S&P indices ended at records, with the Dow shying away from the 23,000 psychological barrier, lifted by healthcare stocks.

COMMODITIES

Higher crude prices: Oil prices went up as crude oil inventories are still coming down, with the The American Petroleum Institute (API) reporting a huge draw of 7.13mn barrels vs the expected 3.9mn. West Texas Intermediate (WTI) rose $0.10 to $51.97/barrel.

フィリピン国内各企業動向

SECB to offer initial P5bn CDs:

Security Bank (SECB) would be issuing an initial P5bn long term negotiable certificate of deposits (CD) that will carry a tenor of 5yrs & 6mos, with an indicative rate @3.875% p.a. Final rates would be determined during its offer period, which would run from 17-30 October.

MER sales volume +4.4%:

Meralco (MER) chief Reyes sees a 4.4% growth in 9M17 sales volume , with 3Q running at 6%-7%. Improved performance across sectors helped volume growth despite coming from a higher base last year.

URC got ERC approval on biomass plant:

Universal Robina (URC) confirmed ERC's approval on the former's application to build a point-to-point (P2P) transmission facility to connect URC's 46MW biomass plant in Kabangkalan, Negros Occidental to Visayas grid.

Earnings not enough to support tender - CAL:

Calata Corp. (CAL) said P400mn retained earnings won't be enough to support P1bn tender offer cost at P3/share.

MAC sees P1bn net income:

MacroAsia (MAC) sees P1bn net income for 2017 from 2016's P440mn. Meanwhile, MAC is completing its study of a logistics firm to complement operations.

PAL to submit proposal to Pagcor:

Philippine Airlines (PAL) will submit to Pagcor this November its proposed new terminal at the Nayong Pilipino complex to decongest traffic in NAIA.

フィリピン経済指標

PH exports to EU to grow higher amid tensions:

Despite President Duterte’s action of threatening European Union (EU) ambassadors who criticized his war on drugs last week, Trade and Industry Secretary Ramon Lopez said Philippine exports to the EU could exceed $10bn this year, growing more than 50% from 2016.

Car sales +9.5% in September y-o-y:

Car sales for September reached 34,445 units, higher by 9.5% from same period last year’s 31,451 units, according to a joint report of the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA). This, however, was a 2.4% decline from sales in August this year of 35,309 units.

PSE wants to operate the spot electricity market:

The Philippine Stock Exchange (PSE) is asking the Department of Energy (DOE) to give it the mandate to operate the country’s spot electricity market to diversify its portfolio and maximize the use of its platform for other products beyond equities.

PSE to introduce short-selling in 2018:

The PSE aims to introduce short-selling as a hedging mechanism in the stock market by 1Q18 as a way to attract foreign investors. Short-selling is the practice of allowing investors to sell stocks they do not own yet by borrowing the underlying securities.

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