Philippines Market Insights 2017.11.22
フィリピン株式ニュースハイライト
News Highlights: PLDT Inc. (TEL)’s Smart is deploying its four-‐component carrier (4CC) aggregation technology in Metro Manila that will provide very high LTE-‐ Advanced mobile data speed. Metro Pacific Investments Corporation (MPI)’s tollway unit hopes to finalize in 3 months the engineering studies for phase 3 of NLEx from Sto. Tomas, Pampanga to Dinalupihan, Bataan. Meanwhile, Pres. Duterte will reject the recommendation of the Mining Industry Coordinating Council (MICC) to lift the ban on open-‐pit mining, as there are no proposed environmental corrective measures. The Securities & Exchange Commission (SEC) also approved raising the minimum required public float from 10% to 20% for firms listing in the Exchange.
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 continues consolidation, PSEi @ 8,289: Mart range‐traded before diving at market-on- close. All sectors ended red except Financials (+0.11%). Among actively traded shares were: SM (- P7.00 at P973.00), SMPH (‐P0.25 at P35.40), MER (+P1.00 at P323.00), PXP (+P1.12 at P10.92), and ALI (‐P0.75 at P42.05), on 7.18bn turnover. Losers outpaced gainers, 78‐124, with net foreign selling at P269.10mn.
Might trade higher. Mart might trade higher today after prior session’s decline, which could be good buying windows for stocks that would benefit from higher seasonal spending in Q4. The President’s vocal opposition against lifting the ban on open‐pit mining would likely affect mining stocks, which would put some downward pressure on the market. Immediate support 8,200, resistance 8,360.
ASIA
Gains led by tech stocks: Asian stocks rose Tuesday, following overseas gains overnight. The hot tech sector, Chinese messaging and gaming contributed to drive the region’s equities.
WALL STREET
Shares climb ahead of Thanksgiving: US stocks rose lifted by Verizon, while a deal in semiconductors lifted high-‐performing tech shares. No major earnings or economic data scheduled for the week, trading volumes were thin and expected to get even quieter leading up to the Thanksgiving holiday on Thursday and an early market close on Friday.
COMMODITIES
Oil prices rise on major crude draw: Crude prices rose after The American Petroleum Institute (API) reported a draw of 6.356mn barrels of US inventories, as against analysts’ prediction of just 2.1mn barrels. West Texas Intermediate (WTI) inched up $0.74 to $56.83/barrel.
フィリピン国内各企業動向
TEL deploys LTE-advanced mobile data:
PLDT Inc. (TEL)’s Smart is deploying its four-‐component carrier (4CC) aggregation technology in Metro Manila that will provide very high LTE-‐Advanced mobile data speed.
SMC’s Series C to go through consent solicitation:
San Miguel Corporation (SMC)’s San Miguel Brewery will go through consent solicitation from 22 Nov‐14 Dec. for holders of Series C bonds due 2019, Series E due 2019 & F notes due 2022, for changes in trust agreements with the planned F&B consolidation.
MPI eyes 3-mo for eng’ng studies of NLEx Phase3:
Metro Pacific Investments Corporation (MPI)’s tollway unit hopes to finalize in 3 months the engineering studies for phase 3 of NLEx from Sto. Tomas, Pampanga to Dinalupihan, Bataan. Project cost is estimated at P10bn & construction will take 3 years.
Maynilad seeks provisional water tariff adjustment:
Maynilad sought for provisional water tariff adjustment to stagger the impact of the rate hike to cover their P3.4bn indemnity claim. The Department of Finance (DoF) needs to review this matter & will still be subject to further meetings. Maynilad is 53%-‐owned by MPI, 25% DMC.
DMC’s order book at P28.6bn:
DMCI Holdings, Inc. (DMC)’s construction order book reached P28.6bn as of Sept., which included P3.5bn new orders from Capital Commons of Ortigas, JGS petrochem & Maynilad’s La Mesa Water treatment plant. 9M17 new contracts reached P14bn (+88%). DMC Construction (stand alone basis) earned P904mn in 9M17 (+35%).
PAL to launch MNL‐Toronto flights:
PAL Holdings, Inc. (PAL) to launch 3x/week, MNL-Toronto direct flights starting Dec 16 @14.4hours travel time.
SBS forms Lence for warehousing:
SBS Philippines Corporation (SBS) will form 65%‐owned Lence Holdings for its foray into warehouse facilities. Lence will be capitalized at P137mn & will acquire warehouse complexes.
CAL required to register CalCoin plan:
SEC wants Calata Corporation (CAL) to register its CalCoin plan before it could list on a crypto currency exchange. SEC said this applies to other jurisdictions that consider digital coins as securities.
フィリピン経済指標
Duterte against lifting ban on open-‐pit mining:
Pres. Duterte will reject the recommendation of the Mining Industry Coordinating Council (MICC) to lift the ban on open-‐pit mining, as there are no proposed environmental corrective measures.
SEC approves minimum public float requirement:
The Securities & Exchange Commission (SEC) approved raising the minimum required public float from 10% to 20% for firms listing in the Exchange. Meanwhile, SEC has yet to decide on existing listed firms’ compliance, possibly by 1Q18.
3‐in‐1 coffee mixes excluded from SSB:
3‐in‐1 coffee excluded from sugar sweetened beverage (SSB) tax in the 2nd reading of the Senate’s deliberation to aid coffee growers’ competitiveness
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