Sleepless in Ayala - Wonder Why ALI is stuck!
What's wrong with Ayala Land (ALI - P10.75)?
For the past few weeks, foreigners have been net sellers in Ayala Land. It seems that certain fund managers are unloading large blocks of ALI shares. This does not bode well for the overall market sentiment. As I have mentioned, for us to see the Phisix higher; we need to have a leader. I was looking at ALI to take the lead since the property sector is at the correct end of the cycle. This means that earnings surprises will likely come from property stocks. This is similar to what the telco sector did in 2003 – 2005, when PLDT (PHI – US$ 37.0) lead the market. ALI, as always is the proxy for the property sector. What is good for ALI is good for the sector and is a catalyst for the Phisix as well. So what is happening? Your guess is as good as mine or I am just being restless?
I have no exposure in ALI but I am overweight property stocks including Cebu Holdings (CHI - P1.86) – an ALI subsidiary.
For the past few weeks, foreigners have been net sellers in Ayala Land. It seems that certain fund managers are unloading large blocks of ALI shares. This does not bode well for the overall market sentiment. As I have mentioned, for us to see the Phisix higher; we need to have a leader. I was looking at ALI to take the lead since the property sector is at the correct end of the cycle. This means that earnings surprises will likely come from property stocks. This is similar to what the telco sector did in 2003 – 2005, when PLDT (PHI – US$ 37.0) lead the market. ALI, as always is the proxy for the property sector. What is good for ALI is good for the sector and is a catalyst for the Phisix as well. So what is happening? Your guess is as good as mine or I am just being restless?
I have no exposure in ALI but I am overweight property stocks including Cebu Holdings (CHI - P1.86) – an ALI subsidiary.
posted by jack galt at
11:00 PM
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