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PSEi back at 6000 level; Philippine economy seen to contract 7.3% this year-ADB

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TODAY’s MARKET WATCH| SEPTEMBER 15, 2020

After days of recovery, PSEi is now back at 6000 level. The benchmark Philippine Stock Exchange index (PSEi) closed at 6,017.21 up 21.07 points or 0.35 percent while All Share closed at 3,591.57 up 0.89 points or 0.03 percent.

Total number of shares traded today is 829,029,499 valued at PHP 5.549-billion.

More foreign investors are selling PSEi shares today

FOREIGN BUYING:Php 2,315,178,212.14

FOREIGN SELLING:Php 3,106,388,268.26

TOTAL FOREIGN: Php 5,421,566,480.40

More losers than gainers:

Total no. of gainers: 78

Total no. of losers: 113

Unchanged: 51

Top Gainers: MFIN (Makati Finance Corporation), TECH (Cirtek Holdings Philippines Corporation), PHES (Philippine Estates Corporation), ATI (Asian Terminals, Inc.) and PXP (PXP Energy Corporation).

Top Losers: MAHB (Metro Alliance Holdings & Equities Corp.), ALHI (Anchor Land Holdings, Inc.), PBB (Philippine Business Bank), CYBR (Cyber Bay Corporation), and IMI (Integrated Micro-Electronics, Inc.).

source: www.pse.com.ph

TOP MARKET DISCLOSURES

  1. Cirtek Holdings Philippines Corp. subsidiary signs master purchase agreement with a telecommunications operator in North America

source: www.edge.pse.com.ph

TOP MARKET INSIGHTS AND STORIES

  1. Philippine fell three places to the 98th spot in the annual Social Progress Index
    Business World reported that Philippines fell three places to the 98th spot out of 163 countries in the 2020 edition of the annual Social Progress Index by the Washington-based nonprofit org Social Progress Imperative.
  2. Philippine Economy expected to shrink 7.3% according to latest ADB forecast
    The Philippine economy is expected to shrink 7.3% in 2020 amid the coronavirus disease (COVID-19) pandemic before growth returns to 6.5% in 2021 according to latest report from the Asian Development Bank (ADB).
  3. CEO’s confidence fell due to pandemic
    Citing the report of PwC Philippines-Management Association of the Philippines survey, Business World reported that the overall business confidence of CEOs fell due to the adverse impact of Covid-19 to businesses. The survey showed that 59% of 161 CEO respondents expressed confidence that their company will see revenue growth in the next 12 months, but this was significantly lower than the 88% last year and 89% in 2018.

    PESO-DOLLAR EXCHANGE RATE: 1 USD to 48.4 PHP

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