PH stocks seen trading at 6,400 to 6,600 levels this week

By Jenni er B. Austria

TRADING at the local stock market this week will mainly be influenced by the release of key economic data, such as inflation and manufacturing output although it is seen moving between the 6,400 to 6,600 level.

Philstocks Financial Inc. senior research manager Japhet Tantiangco said investors will be primarily watching out for June inflation rate data, which is slated for release this week.

Tantiangco said further slowdown in June inflation rate from May’s 6.1 percent may boost investor sentiments this week.

The Bangko Sentral ng Pilipinas last Friday said inflation in June likely eased to as low as 5.3 percent from 6.1 percent in May on lower prices of meat, fruits and liquefied petroleum gas.

However, the US Federal Reserve’s continued hawkish stance will also affect market sentiments over the short-term period.

Tantiangco said the local market’s movement may also take cues from the upcoming June S&P Global Philippines Manufacturing Purchasing Managers Index and labor force survey for clues on the strength of local economy.

Outstanding loans to residents, net of RRPs, slowed in May at 9.3 percent from 9.6 percent in April. Similarly, outstanding loans for production activities rose by 7.9 percent in May after growing by 8.3 percent in the previous month.

BSP said this was mainly due to the continued increase in loans to major industries, specifically electricity, gas, steam, and airconditioning supply (14.1 percent); real estate activities (5.5 percent); wholesale and retail trade, and repair of motor vehicles and motorcycles (8.6 percent); information and communication (15.9 percent); and financial and insurance activities (7.3 percent).

Consumer loans to residents grew at a slightly faster rate of 22.7 percent in May from 22.3 percent in April due to the increase in credit card, motor vehicle, and salary loans. Outstanding loans to non-residents also went up by 13.2 percent in May from 12.2 percent in the previous month.

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If you will not be able to attend the meeting but would like to be represented thereat, you are requested to submit a duly signed and accomplished proxy form to the Office of the Corporate Secretary of Marcventures Holdings, Inc. located at the 4th Floor Citi Center, 8741 Paseo de Roxas, Makati City or on before 6:00 p.m., July 15, 2023. Beneficial owners whose shares are lodged with PDTC or registered under the name of a broker, bank, or other fiduciary allowed by law, must likewise present a notarized certification from the owner of record (i.e. the broker, bank, or other fiduciary) that he is the beneficial owner indicating thereon the number of shares. Corporate shareholders shall likewise be required to present a notarized Secretary’s Certificate attesting to the authority of its representative to attend and vote at the stockholder’s meeting.

The deadline for submission of proxies is on July 15, 2023. Validation of proxies will take place on July 20, 2023.

Pursuant to the Securities and Exchange Commission’s Notice dated March 13, 2023, an electronic copy of the Information Statement and Management Report and SEC Form 17A and other pertinent documents related to the meeting may be accessed through the Corporation’s website at https://www. marcventuresholdings.com/ and on the Philippine Stock Exchange Edge website.

For any question about the meeting, you may send an email to: inquiries@ marcventures.com.ph Makati City, 27 June 2023.