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The PSEi Changed Little After The MSCI Review


The PSEi changed little after the MSCI review.

After the most recent rebalancing of the MSCI Index, the benchmark index that is used to measure performance on the Philippine Stock Exchange (PSEi) finished Friday's session virtually unchanged.

The more comprehensive All Shares index rose by 0.22 percent, or 7.19 points, to 3,341.97, while the PSEi rose by a more modest 0.09 percent, which is equivalent to 5.81 points.

At the close of the trading session, 2.1 billion shares with a combined value of 11.50 billion pesos had been traded. A block sale of shares in Metro Pacific Investments Corp. was successfully completed for P5.18 billion at the tender offer price of P5.20 per share, which contributed roughly half of the value of the overall transaction.

The company Metro Pacific has extended its offer to buy out minority owners through September 7 of this year as part of its ongoing campaign to become private and delist from the Philippine Stock Exchange.

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This move was made as part of Metro Pacific's attempt to delist from the PSE. This offer is always on the table for consideration.

This played a role in the sharp growth in net foreign sales, which reached 5.7 billion pesos, as indicated by statistics collected from the stock exchange.

It was a mixed bag for the PSE subsectors, with property, industrial, and services making gains, but mining and oil, holding corporations, and financials losing momentum. There was growth in the property, industrial, and service sectors.

The most shares were traded in Metro Pacific, which saw a jump in its stock price to P5.17 a share, a 2.38 percent increase from its previous price.

SM Prime Holdings increased by 2.40 percent, reaching a price of P29.90 per share; BDO Unibank Inc. rose by 0.57 percent, reaching a price of P140.10; Bank of the Philippine Islands decreased by 2.73 percent, reaching a price of P107; and Converge ICT Solutions Inc. increased by 2.96 percent, reaching a price of P8 per share.

There was an increase of 1.27 percent for Jollibee Foods Corp., which led to a price of 240 pesos; a decrease of 1.14 percent for Ayala Corp., which led to a price of 609 pesos; a decrease of 0.58 percent for International Container Terminal Services Inc.; and an increase of 3.31 percent for Ayala Land Inc., which led to a price of 28.05 pesos a share.

Philippine Equities Suffer Sharp Decline In August

Public purchasers in the Manila public market
Public purchasers in the Manila public market

According to bnnbloomberg, Investors in Philippine equities had their worst monthly loss in almost a year, with the benchmark index falling by 6.3% in August, marking the highest dip among the benchmarks used in Southeast Asia.

Due to the fact that the economy, which was considered by economists to be one of Asia's economies with the most rapid expansion, achieved slower-than-expected growth in the second quarter, more than twenty billion dollars worth of market value was wiped out on the Philippine Stock Exchange in the month of August.

This was caused by the fact that the economy achieved slower-than-expected growth in the second quarter.

This occurred as a direct result of higher borrowing rates as well as inflation, both of which contributed to a decrease in consumer demand.

The pessimistic outlook was made even worse by the prospect of an acceleration in price increases, which led foreign investors to withdraw $131 million in August after having invested a total of $431 million in June and July combined.

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