February 6, 2018

Market Summary Philippines Value Points % Change

Local stocks took a beating at the start of the week, joining a global equity sell-off
on fears that the United States Federal Reserve may raise interest rates more
USD/PHP 51.510 0.06 0.12
aggressively than anticipated.
PSEi 8,616.00 (194.75) (2.21)
The Philippine Stock Exchange index (PSEi) plummeted 194.75 points or 2.21% to
close at 8,616. At the height of the sell-off, the bellwether index touched the All 5,070.42 (111.40) (2.15)
8,555.55 level — below the 2017 finish of 8,558.42 that wiped out gains of more
than 5.8% for the year — before bargain hunting narrowed its losses. The all- Financials 2,204.08 (19.47) (0.88)
shares index also plunged 111.40 points or 2.15% to end at 5,070.42. Holding Firms 8,787.27 (220.49) (2.45)
All counters finished in negative territory, led by property, which shed 125.21 Industrial 11,572.00 (319.59) (2.69)
points or 3.13% to 3,868.68. Industrials declined 319.59 points or 2.68% to
11,572; mining and oil dropped 316.96 points or 2.62% to 11,766.09; holding firms Mining & Oil 11,766.09 (316.96) (2.62)
tumbled 220.49 points or 2.44% to 8,787.27; services lost 20.84 points or 1.21% to
Property 3,868.68 (125.21) (3.14)
1,697.27; and financials slid 19.47 points or 0.87% to 2,204.08.
(Business World) Services 1,697.27 (20.84) (1.21)

Company Brief US

Megaworld Corp. (MEG) Last Price: 4.85 DJIA 24,345.75 (1,175.21) (4.60)

Megaworld Corp. (MEG) is set to open a PhP2.2-billion lifestyle mall in this city in S&P 500 2,648.94 (113.19) (4.10)
April, as it looks to end the year with a total of 18 malls. NASDAQ 6,967.53 (273.42) (3.78)
Located inside the company’s 72-hectare Iloilo Business Park, MEG said the COMMODITIES
90,000-square meter (sq.m.) Festive Walk Mall will be the largest and first full-
scale mall outside Luzon. Dubai Crude 65.19 (1.59) (2.38)
Oil (WTI) 64.15 (1.30) (1.99)
“We are excited to bring our lifestyle mall concept to Iloilo, our first outside of
Luzon. This full-scale mall will further expand our offerings in Iloilo Business Park Gold 1,339.68 6.78 0.51
as it matures as a township,” Megaworld Senior Vice-President and Head for
Lifestyle Malls Kevin Andrew L. Tan said in a press briefing here on Monday. Nickel 13,400.00 (565.50) (4.05)
Prices as of: February 5, 2018 Source: Bloomberg
Festive Walk Mall will offer around 40,000 sq.m. of net leasable space. The
company expects around 75% of the space to be taken up by tenants once it
opens, and hopes to raise this to 90% within three months of opening.

Mr. Tan said they are currently talking with the SM group and the Metro Gaisano
group to open two supermarkets at Festive Walk Mall. The development will also
feature seven cinemas, three activity centers, a children’s playground, and around
1,000 parking slots.

(Business World)

World Highlights
US: U.S. stocks plunged in highly volatile trading on Monday, with both the S&P
500 and Dow Industrials indices slumping more than 4.0 percent, as the Dow
notched its biggest intraday decline in history with a nearly 1,600 point drop and
Wall Street erased its gains for the year.

The Dow Jones Industrial Average fell 1,175.21 points, or 4.6%, to 24,345.75, the
S&P 500 lost 113.19 points, or 4.10%, to 2,648.94 and the Nasdaq Composite
dropped 273.42 points, or 3.78%, to 6,967.53.

COMMODITIES: Oil prices were trading lower on Monday as rising U.S. output, a
weaker physical market and recent dollar strength added to the pressure from a
widespread decline across equities and commodities markets.

U.S. crude at 64.15. Gold is at 1,339.68.

(Reuters)

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