Stock market losses in real estate (-2.3 percent) stood out as most subsectors ended the morning session in the green.
Declines were led by DDMP REIT (-10.34 percent) and DoubleDragon Corp. (-8.05 percent), given their larger exposure to POGOs when compared to other developers.
Ayala Land, Megaworld Corp., SM Prime Holdings, Filinvest Land, and Robinsons Land also pulled back on Tuesday.
Online bingo games operator DigiPlus Interactive Corp., which is not covered by the POGO ban, also shed 3.78 percent on Tuesday, bringing losses over the past two days to nearly 10 percent.
“[The] POGO ban to have limited impact on property companies since their exposure is small, although industry-wide office vacancy rates could increase, pressuring rental rates,” COL Financial Group chief equity strategist April Lynn Tan said via her account on X (formerly known as Twitter).
“Nevertheless, any negative impact is already priced in given depressed valuations of property stocks,” she added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
