Record Philippine Property Stocks? Bear Markets in 47% of Index Firms and in 53% of Firms in the Entire Property Sector!!!

The below table highlights my tabulation of the status of the chart conditions of Philippine listed property firms from both index and the non index perspective.

Legend and definition:

-Bear Market: 20% decline from recent highs (red)

-Record highs (record): stock prices at all time highs (green)

-Uptrend (UPT): stock price on an uptrend but at non record highs

-Sideways: neither a bear market nor an uptrend/record high 

The above prices have been based on May 11 close.

The weightings of issues of the Property index can be seen here.

 

The tally board above shows that only 27% of property index stocks have been at record highs as against 47% which has endured bear markets. 

For the entire sector, the share of property companies with record high prices fall to only 25% of the total, while property issues under bear markets balloon to 53%!

Some record eh?

Now the bear markets among Property index component members: (based on alphabetical order)

And because of space constraints, I will post only the top 5 non index issues (based on market cap; excludes index components) that have been on bear markets. 

The point here is to demonstrate of the gaping difference between headline record numbers--which has been centered only on a few issues with significant bearing on the major PSEi index--as against the broader market. 

Such also reveals of the widening divergence which has been inconsistent with record stocks. 

And finally, the deepening concentration of activities to select big ticket issues only implies of the increasing risks from the brazen manipulation of the index.