Top Ten Smart Money Moves – December 12, 2017
Top Ten Smart Money Moves, starting January 2015, is the official trading newsletter of The Responsible Trader to promote his advocacy, Responsible Trading. This newsletter contains the previous day’s data from PSE, the Top Ten Foreign Buying and Selling, Top Ten in Total Traded Value, including Trading Notes based on the data of the previous day. This newsletter is given free to all the friends of The Responsible Trader and to members of the Facebook group and the other organizations where he is a member. For the previous issue where complete details about the newsletter was fully discussed, please refer to: Daily Top Tens October 17, 2014.
Trading Notes for Today – (Based on December 12, 2017 Data)
Total Traded Value – PhP 6.615 Billion – Low
Advances Declines – (Ideal is 2:1) 115 Declines vs. 87 Advances = 1.32:1 Neutral
Total Foreign Buying – PhP 3.715766 Billion
Total Foreign Selling – (PhP 3.717527) Billion
Net Foreign Buying (Selling) – (PhP 0.0005) Billion –8th day of Net Foreign Selling after a day of Net Foreign Buying
Data from the Philippine Stock Exchange
Screenshot courtesy of: www.pse.com.ph
PSE HEAT MAP
Screenshot courtesy of PSEGET
Top Ten Foreign Buying and Selling
Top Ten in Total Traded Value
Top Ten Gainers and Losers
From now on, I will just quote the related article from Business World so that we will have everything in one piece:
Tax reform watch weighs on investor sentiment
December 13, 2017
ANY OPTIMISM over the Philippines’ credit rating upgrade on Monday by Fitch Ratings evaporated yesterday, as investors awaiting Congress’ ratification of tax reforms made the Philippine Stock Exchange index (PSEi) end three days of gains.
PSEi dropped 24.51 points or 0.29% to close 8,334.06, while the all-shares index gave up 18.83 points or 0.39% to end 4,866.62.
“The local market traded on a softer note a day before a series of huge events in the next few days,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said, citing impending ratification of the first of up to five tax reform packages designed to boost infrastructure spending till 2022, when President Rodrigo R. Duterte ends his six-year term.
The bicameral conference committee harmonizing divergent tax reform provisions of the Senate and the House of Representatives was unable to issue its report yesterday for ratification by both chambers.
Diversified Securities, Inc. equity trader Aniceto K. Pangan said “the market is still awaiting the final version of the tax reform package,” whose divergent provisions have spelled significant difference in terms of projected additional revenues.
“Investors have been discounting this news, but until this is final then it is not yet set,” Mr. Limlingan noted, while Mr. Pangan said that “[u]ntil we are certain of the final version, definitely market will continue to consolidate.”
Set to be ratified separately is the proposed P3.767-trillion national budget for 2018.
Both laws are targeted for implementation starting Jan. 1 next year.
Congress is also expected to extend for a year martial law declared over Mindanao — in the face of what Malacañang sees as persistent threat from Islamic militants and communist rebels — that is set to lift at end-2017.
Lawmakers then adjourn on Dec. 16 for a month-long break.
Four of the six sectoral indices ended with losses: mining and oil by 149.57 points or 1.28% to 11,559.25, holding firms by 87.99 points or 1.04% to 8,412.21, services by 13.60 points or 0.86% to 1,569.89 and industrial by 15.08 points or 0.14% to 11,017.
On the other hand, property gained 18.31 points or 0.47% to finish 3,915.43, while financials added nine points or 0.42% to close 2,152.90.
Negative sentiment similarly gripped many other Asian bourses, with Japan’s Nikkei 225, Hong Kong’s Hang Seng Index, China’s blue-chip CSI 300, the Shanghai Composite Index, South Korea’s KOSPI Index, Straits Times Index and the Jakarta Composite Index dropping 0.32%, 0.63%, 1.31%, 1.24%, 0.42%, 0.16% and 0.09%, respectively.
Philippine stocks that declined led those that gained 115 to 87, while 52 others were unchanged.
Tuesday’s list of the 20 most-traded stocks showed only seven gained, led by Ayala Land, Inc. that added 1.49% to end P44.15 apiece, Bank of the Philippine Islands that increased by 0.96% to P105, Security Bank Corp. that rose by 0.72% to P252 and Metropolitan Bank & Trust Co. that climbed 0.87% to P98.95 each.
Those that lost were led by Bloomberry Resorts Corp.; DMCI Holdings, Inc.; International Container Terminal Services, Inc.; and Ayala Corp. whose shares gave up 3.55% to close P10.32 apiece; 3.27% to P14.22; 2.008% to P102.50 and 1.44% to finish P1,025 each.
Tuesday saw 638.34 million stocks worth P6.61 billion change hands, compared to Monday’s 923.34 million stocks worth P5.85 billion.
Foreigners remained predominantly sellers for the eighth straight trading day, but Tuesdays’ mere P491.40 million net sales were the smallest amount in that period. — Arra B. Francia
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DISCLAIMER There is a very high degree of risk involved in TRADING. Past results are not indicative of future returns. Nothing contained in this newsletter constitutes a solicitation, recommendation, PROMOTION or endorsement of any security. In accordance with the Responsible TRADER’s Creed: I will never tell and you take full responsibility for all your TRADING results
NOTES: Please take note of the following changes. Effective August 6, 2015: 1. Caption Market Breadth has been changed to Total Traded Value to simplify the presentation. 2. Market Breadth is expressed in terms of Number of Advances and Declines. Expressing this as a Ratio by using the larger number as Numerator we derive the Market Sentiment whether Bullish or Bearish. 3. Based on Past three-year data of Average Total Traded Values, following classifications will be used to make the presentation more relevant to present times. a. Low – Total Traded Value less than PhP 8 Billion b. Medium – Total Traded Value Php 8 Billion but not more than P15 Billion c. High – Total Traded Value more than Php 15 Billion.
Starting with August 11, 2017 data we are including the Top Ten Gainers and Losers for a more comprehensive coverage of significant stock movements during the day.