Economic reopening boosts appetite for SM Prime stocks - BusinessWorld Online

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SM PRIME HOLDINGS, Inc. was one of the most actively traded stocks in the local bourse last week as investors’ appetite increased due to normalized stock prices following the further improvement of the economy. READ:

SM Prime had the second highest value turnover last week, with P1.27 billion worth of 40.315 million shares exchanging hands from Oct. 8 to 14, data from the Philippine Stock Exchange show.

“Investor appetite is focused on stocks that have normalized like SM Prime’s foot traffic, a strong indicator of recovering fundamentals,” said Cristina S. Ulang, research head at First Metro Investment Corp. For Aniceto K. Pangan, equity trader at Diversified Securities, Inc., SM Prime became one of the most active stocks last week following a sell-off in the market.

SM Prime opened SM City Tanza last Friday with an 89% space lease awarded at its two levels. Its shops will be led by the SM group’s The SM Store, SM Supermarket, Ace Hardware, SM Appliance Center, Watsons, Pet Express, Miniso, Uniqlo, Crocs, Surplus, and Banco De Oro.

 

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