August 10 Stock Market Review
We’re seeing some sideways movement again, but this time in contrast to yesterday, domestic investors were on a profit-taking mood while snowballing foreign accumulation on primarily the telecom sector led the major composite to close little changed. The Phisix inched higher by 1.05 points or .07% on a rather moderate to heavy volume of P 994.864 or $17.765 million on voluminous cross trades of Globe, SM Prime and PLDT which accounted for 51.04% of the total output.
The heavy caps were mixed with more decliners, SMPH (-1.69%), Ayala Land (-1.78%), Bank of the Philippine Islands (-1.21%) and San Miguel A (-.9%) against only two advancers, Globe Telecoms (+2.25%) and PLDT (+.39%) while San Miguel B and Metrobank were unchanged.
Foreign money once again took the significant majority of trades and accounted for 62.2% of total turnover while they remained selectively bullish with inflows amounting to P 107.148 million or US $1.913 million on mostly telecom issues, Jollibee (+1.96%) and DM Consunji (+10%). However, they liquidated positions on SM Prime, Ayala Land, Bank of the Philippine Islands, First Philippine Holdings (unchanged), Meralco (+1.14%) and Petron (-1.85%).
So based on the data above issues, the companies that accounted for substantial foreign money inflows registered mostly gains while those that posted outflows or liquidations registered losses. In other words, foreign money dictated the tempo of today’s trade.
Sentiment was largely mixed with bearish bias as declining issues edged advancing issues 38 to 35 while industry sub-indices were mostly lower except for the Phi-All and the Commercial Industrial index. Apparently after last week’s frenzied speculations on the mining heavyweights, the local investors took the market’s lull as an opportunity to pocket gains from recent trades.
The Asian region reflects the mood of the domestic market with 8 advancers against 7 decliners as of this writing with no significant gains or losses noted except for Singapore’s Strait Times which is down by about one percent. The ambivalence seen in the regional markets highlight on the concerns of today’s US FED meeting which is anticipated to announce a quarter point hike despite the stream of softening US economic data.
We’re seeing some sideways movement again, but this time in contrast to yesterday, domestic investors were on a profit-taking mood while snowballing foreign accumulation on primarily the telecom sector led the major composite to close little changed. The Phisix inched higher by 1.05 points or .07% on a rather moderate to heavy volume of P 994.864 or $17.765 million on voluminous cross trades of Globe, SM Prime and PLDT which accounted for 51.04% of the total output.
The heavy caps were mixed with more decliners, SMPH (-1.69%), Ayala Land (-1.78%), Bank of the Philippine Islands (-1.21%) and San Miguel A (-.9%) against only two advancers, Globe Telecoms (+2.25%) and PLDT (+.39%) while San Miguel B and Metrobank were unchanged.
Foreign money once again took the significant majority of trades and accounted for 62.2% of total turnover while they remained selectively bullish with inflows amounting to P 107.148 million or US $1.913 million on mostly telecom issues, Jollibee (+1.96%) and DM Consunji (+10%). However, they liquidated positions on SM Prime, Ayala Land, Bank of the Philippine Islands, First Philippine Holdings (unchanged), Meralco (+1.14%) and Petron (-1.85%).
So based on the data above issues, the companies that accounted for substantial foreign money inflows registered mostly gains while those that posted outflows or liquidations registered losses. In other words, foreign money dictated the tempo of today’s trade.
Sentiment was largely mixed with bearish bias as declining issues edged advancing issues 38 to 35 while industry sub-indices were mostly lower except for the Phi-All and the Commercial Industrial index. Apparently after last week’s frenzied speculations on the mining heavyweights, the local investors took the market’s lull as an opportunity to pocket gains from recent trades.
The Asian region reflects the mood of the domestic market with 8 advancers against 7 decliners as of this writing with no significant gains or losses noted except for Singapore’s Strait Times which is down by about one percent. The ambivalence seen in the regional markets highlight on the concerns of today’s US FED meeting which is anticipated to announce a quarter point hike despite the stream of softening US economic data.
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