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Ž… ‡ƒ­ „€†­ †…­ €„­ „ ‡­ ƒ ƒ­
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‹Œ  ­ €‚ƒ­ €€ƒ ­ € „„­ „„­ €„€­
• After September being the worst month for the local
equities market in over 30-years, the Philippine Stock „Ž…Ž“”…Ž““…‘“
Exchange index (PSEi) rebounded by 7.18%
Month-on-Month in October, recording its best     
performance since August 2021.The Philippine peso Ž… €„ƒ­ ‚……­ €€­ †­ €€…‚­
currency (PHP) started showing renewed signs of
strength behind the collective pronouncements of the
National Economic Development Authority (NEDA),
Bangko Sentral ng Pilipinas (BSP) and the Department of
Finance (DOF) to defend the local currency against the
USD. DAILY NAVPS PRICES “†““‘”

 
• Bankers vowed to refrain from speculating in the FX
market to prevent the PHP from depreciating against the
dollar above PHP59. Finance Secretary Diokno also
reassured the market that they can deploy as much as
USD10 Billion of its reserves and raise policy rates further
by more than 100bps as necessary to protect the value of
the currency. The PHP gained 1.1% against USD, the
first in 9 months, and closed at PHP57.97, a level last
seen 6 weeks ago.
• Average daily turnover during the month declined by
30.6% to $66.66M vs $96.04M in Sept  10/31/22

• Sectors across were on the green: Banks +8.29%,

Conglos +7.90%, Services +5.89%, Properties +4.80%,
Industrials +4.80%, except for M&O (-6.24%)


 

• Top 5 Index Gainers: BDO +14.48%, ACEN +13.43%,   

 

SM +11.87%, ALI +10.63%, TEL +10.33%

• Bottom 5 Index Losers: CNVRG (-17.32%), SCC 
(-9.46%), RLC (-7.13%), MONDE (-6.71%), ICT (-4.68%)  
   
• Foreigners were sellers by USD18M, adding to the  
 
outflow of USD220 million last Sept 2022.

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