PHILIPPINES – A total of 25 stocks traded on the Philippine Stock Exchange (PSE) managed to post double-digit gains this week, outperforming the Philippine Stock Exchange Index (PSEi), which was down 1.17 percent. The wider All Shares Index also fell 0.60 percent this week.
In this article, we will take a look at the Top 10 Stocks that posted double-digit gains this week, bucking the trend of falling stocks in the Philippines and around Asia.
Was insider trading involved in the unusual price movement?
On 12 October, the Surveillance Department of the Capital Markets Integrity Corporation directed Now Corporation (PSE:NOW) to submit a written statement under oath confirming the existence or absense of any undisclosed information that could have triggered the unusual price movement of its shares on October 2015.
The company replied by saying that it is not aware of any event that would trigger the price movement or increase of its shares.
On the 14th of October 2015, Now Corporation (PSE:NOW) launched and demonstrated live two of its innovative technology creations – the “NOW Broadband Cable TV” a guaranteed broadband Internet service with Wireless Cable TV, and the “NOWPlanet.TV” a digital media platform as a product that converges free TV, web channels, cloud services and other interactive services.
At Number 2 was Cyber Bay Corporation (PSE:CYBR), which gained 39.53 percent this week to bring its 4-week total gains to 39.53 percent. Cyber Bay Corporation ended the week at Php0.60 a share. On 15 October, Cyber Bay Corporation released its public ownership report and its list of top 100 shareholders.
Mabuhay Vinyl Corporation (PSE:MVC) was the third biggest price gainer this week, posting a rise of 37.70 percent, although its 4-week total was still -9.29 percent.
F&J Prince Holdings Corporation “B” (PSE:FJPB) was also a big gainer this week, posting a week-long increase of 32.40 percent, which is also its 4-week gain.
Philippine Realty and Holdings Corporation (PSE:RLT) gained 24.68 percent to become this week’s fifth biggest gainer. Its 4-week price change is 9.09 percent.
Grand Plaza Hotel Corporation (PSE:GPH) entered the list of top 10 gainers this week after its stock increased by 24.26 percent, to trade at Php21.00 a share at the close.
Zeus Holdings Inc. (PSE:ZHI) did not release any material information this week but its stock soared 24.00 percent, bringing its 4-week total gains to 44.19 percent. Zeus’ stock traded at Php0.31 at the week’s close.
Yehey! Corporation (PSE:YEHEY)‘s stock also gained 22.47 percent this week, bringing its 4-week gains to 59.64 percent. Yehey! this week issued its list of top 100 shareholders.
Global Ferronickel Holdings Inc (PSE:FNI) disclosed on Friday its fianncial and operating results for the 3rd Quarter, with net income of Php797 million, lower than the Php3.93bn net income it reported for the same period in 2014.
Despite the drop in net income, Global Ferronickel Holdings Inc’s stock managed to gain 20.43 percent this week, although its 4-week price change was only 4.67 percent higher.
On the 10th spot was Atlas Consolidated Mining and Development Corporation (PSE:AT), whose stock gained 20.25 percent this week, bringing its 4-week price change to 17.13 percent. – BusinessNewsAsia.com