Monday, October 31, 2011

Philippine stock market to see some buying interest due to Greek debt resolution

By: Daxim L. Lucas
Philippine Daily Inquirer
7:36 pm | Monday, October 31st, 2011

MANILA, Philippines—Local stocks are expected to trade mixed when trading resumes on Wednesday, after a two-day holiday break.
Traders expected the Philippine Stock Exchange index to move within a narrow band over the next few days given the abbreviated trading week and muted investor interest.
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PSEi rallies past 4,300 on euro zone plans

Posted on October 31, 2011 08:45:58 PM

THE MAIN index closed in the green territory last week, except for a midweek dip, climbing safely above 4,300.
The Philippine Stock Exchange index (PSEi) gained a total of 4.01% or 167 points by Friday compared to the week before, closing at 4,333.72.
No differently, the all-share index added 2.34% or 68.70 points by Friday compared to the previous week, edging past the 3,000 psychological barrier to close at 3,004.91
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Monday, October 24, 2011

Investors to be guarded amid EU woes

Posted on October 23, 2011 07:21:59 PM


INVESTORS ARE expected to trade guardedly this week as they monitor events in the euro zone after leaders met during the weekend to decide on measures to address the raging debt crisis.
"Investors are keeping an eye on developments abroad, especially Europe," said analyst Astro C. del Castillo, managing director of brokerage firm First Grade Holdings, Inc., in a telephone interview yesterday.

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Thin trading seen

Philippine Daily Inquirer
12:43 am | Monday, October 24th, 2011

MANILA, Philippines—Trading this week is expected to stay thin as investors stay on the sidelines and wait for local and international developments that can swing sentiment in either direction.
Investors were mostly anxious and quiet last week, resulting in modest trading activity that saw the benchmark Philippine Stock Exchange index (PSEi) closing at 4,166.60, or 0.32-percent higher week on week.

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Monday, October 17, 2011

Sluggish trading seen

Philippine Daily Inquirer
11:23 pm | Sunday, October 16th, 2011


MANILA, Philippines—The local stock market may post losses this week on concerns over the US and European economies, but the upcoming third-quarter earnings season and continued bargain hunting for still-undervalued shares may provide some support.
The Philippine Stock Exchange Index (PSEi) rode a six-day rally last week to close at 4,153.40 on Friday, up 3.6 percent from the week before.

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Buying momentum may further lift PSEi

Posted on October 16, 2011 07:52:20 PM


STOCKS MAY keep gaining this week due to upbeat investor sentiment, although the risk of a technical correction may keep investors cautious, analysts said.
The Philippine Stock Exchange index (PSEi) closed at 4,153.40 last Friday, 3.60% or 144.14 points higher than a week earlier.

The broader all-share index marked a 3.04-percent or 86.89-point week-on-week rise last Friday to 2,943.07.

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Bangko Sentral to keep rates steady

Inflation has become 'less of a concern'
By: Michelle V. Remo
Philippine Daily Inquirer
12:48 am | Monday, October 17th, 2011


The Bangko Sentral ng Pilipinas has signaled that it would keep key interest rates and the reserve requirement on banks steady when the policy-making Monetary Board meets this Thursday.
According to BSP Governor Amando Tetangco Jr., inflation was less of a concern at the moment than the need to boost economic growth.

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Wednesday, October 12, 2011

PHL shares gain 1.7% on surge in global markets

10/11/2011 | 02:44 PM


Philippine share prices surged for the fourth straight day Tuesday, buoyed by gains global registered overnight by global markets.

Most markets rallied behind the pledge of European leaders to keep the continent from sinking deeper into the quagmire its debt crisis.

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Bank lending up 19.8% as of Aug.

By: Michelle V. Remo
Philippine Daily Inquirer
12:01 am | Wednesday, October 12th, 2011


Bank lending grew at an even faster pace in August, as the rising liquidity of the banking sector prompted banks to extend more loans.
According to the Bangko Sentral ng Pilipinas, the accelerated growth in lending will help boost the rate of expansion of the economy, which is being dampened by unfavorable external developments.
In a report, the BSP said the total outstanding loans extended by universal and commercial banks hit P2.62 trillion as of end-August this year, up 19.8 percent from P2.18 trillion as of the same period last year.

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Tuesday, October 11, 2011

PHL share prices extend gains amid bargain hunting

10/10/2011 | 02:08 PM

Philippine share prices extended their gains on Monday as players continued to snap up bargain stocks.

The benchmark 30-company Philippine Stock Exchange index rose 31.32 points or 0.78 percent to 4,040.58, while the all shares jumped 22.55 points or 0.79 percent to 2,878.73.

Gainers trumped losers, 95 to 34, while 40 stocks closed unchanged.

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Philippine exports seen to decline in months ahead

Traders struggle to cope with waning global demand

By: Michelle V. Remo
Philippine Daily Inquirer
1:13 am | Monday, October 10th, 2011

The volume of electronics exports may further contract in the months ahead as local manufacturers report declining orders from customers abroad, according to the Bangko Sentral ng Pilipinas.
The sluggish economy of the United States and the debt problems of eurozone nations—the Philippines' key export markets—resulted in waning global demand for electronics, the country's major export product, the central bank said.

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Sunday, October 9, 2011

Cautious trading seen this week

By: Doris C. Dumlao
Philippine Daily Inquirer
8:33 pm | Sunday, October 9th, 2011

MANILA, Philippines—Local stocks are seen trading with caution this week as continuing uncertainties in the United States and Europe will keep the main index struggling to stay above 4,000.
Last week, the main-share Philippine Stock Exchange index rose 0.3 percent to 4,009.26 as low valuations started to attract bargain hunters.

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PHL posts narrower foreign reserves at $301M, says BSP

10/07/2011 | 10:34 PM

Payment of maturing foreign exchange debts and revaluation losses from a dip in the price of gold in the world market were the key factors in the $301 million decline in the country's gross international reserves (GIR) that ended 19 months of expansion, the Bangko Sentral ng Pilipinas (BSP) said Friday.

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Friday, October 7, 2011

PHL shares snap 3-day losing streak, PSEi up 1.7%

10/06/2011 | 01:56 PM


Philippine share prices snapped a three-day decline as bargain hunters — encouraged by the positive results of US stocks overnight on Wall Street — dominated the session.

The Philippine Stock Exchange index soared 67.39 points or 1.76 percent to close at 3,890.52 while the All Shares index surged 31.83 points or 1.15 percent to 2,791.69.

Gainers outpaced losers 97 to 37 losers, and 38 stocks closed unchanged.

All six sectoral indices advanced, led by Mining & Oil's 3.03-percent climb.

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Jan-Sept hot money up 147%

Malaya, October 7, 2011
BY JIMMY C. CALAPATI

Rising uncertainties in the US and Europe had caused foreign portfolio investments – also called "hot money" because these could be taken out of the country any time – in the first nine months to surge 147 percent from the level in the same period last year, data from the Bangko Sentral ng Pilipinas (BSP) showed.

Portfolio investments from January 1 to September 26 netted a total inflow of $3.348 billion, against the $1.355 billion total inflow registered in the same period last year.

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Thursday, October 6, 2011

BSP to issue stricter rules on hedge deals

10/05/2011 | 07:47 PM

This month, the Bangko Sentral ng Pilipinas (BSP) will issue stricter rules on hedging instruments, particularly non-deliverable forwards (NDFs), to control liquidity amid the strong foreign capital inflow and to minimize market risks, the BSP said.

The rules will come in the form of a circular on NDFs after the BSP conducts a series of consultations with major players in the banking industry, BSP governor Amando Tetangco Jr. said Wednesday.

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Philippine stocks dip in cautious trading

By: Doris C. Dumlao
Philippine Daily Inquirer
3:45 pm | Wednesday, October 5th, 2011

MANILA, Philippines—Local stocks closed slightly lower Wednesday as investors remained cautious given the volatile external environment.

The main-share Philippine Stock Exchange index (PSEi) shed 6.79 points, or 0.18 percent, to finish at 3,823.13.

Trading was mixed across counters, with the industrial and services firms ending in the red while modest gains by the financial, holding firm, property and mining/oil counters tempered overall index decline.

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Wednesday, October 5, 2011

PHL shares extend losses in 2nd successive trading day

10/04/2011 | 01:52 PM

Philippine share prices pared their early gains in the session, extending losses for the second consecutive day on Tuesday.

The Philippine Stock Exchange index (PSEi) shed 35.91 points or 0.93 percent at 3,829.92.

Market breadth was negative with 89 losers trouncing 55 gainers and 33 stocks were unchanged.

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Debt raters acknowledge Philippine gains -- central bank

October 04, 2011 10:38:02 PM

REPRESENTATIVES of credit rating agencies Philippine economic officials met in Washington, DC at the sidelines of the International Monetary Fund-World Bank meetings last month acknowledged fiscal improvements the country has achieved and agreed that fresh reviews should be done "late this year to early-2012," the Bangko Sentral ng Pilipinas (BSP) said in a press statement on Tuesday.

The central bank said BSP Governor Amando M. Tetangco, Jr. and Finance Secretary Cesar V. Purisima briefed "high ranking officials" of credit raters Standard & Poor's (S&P), Moody's Investors Service and Fitch Ratings "on the latest developments in the Philippine credit story."

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Monday, October 3, 2011

Philippine stocks slump by 3.34%

By: Doris C. Dumlao
Philippine Daily Inquirer,
October 3, 2011

MANILA, Philippines—Local stocks went back to the doldrums on the first day of extended trading hours on Monday as last week's bargain-hunting and quarter-end window-dressing activities fizzled out amid a volatile external environment.
The main-share Philippine Stock Exchange index dipped by 133.82 points, or 3.34 percent, to finish at 3,865.83, with the mining/oil and holding firm counters leading the downturn.

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BSP says full-year inflation still on target

BY JIMMY C. CALAPATI
Malay

Despite the back-to-back disasters brought by typhoons Pedring and Quiel, the Bangko Sentral ng Pilipinas (BSP) is confident that inflation for the year will still be within its target of between 3 percent and 5 percent.

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Sunday, October 2, 2011

Debt ratios remain at comfortable levels in 2011 second quarter

Manila Bulletin
Oct. 2, 2011

MANILA, Philippines — The country's outstanding external debt stood at $61.4 billion as of end-June 2011, reflecting an increase of S$476 million (0.8 percent) from the $60.9 billion level as of end-March 2011, Bangko Sentral ng Pilipinas (BSP) said.

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PH exposure to euro zone minimal

BSP says local banks to sustain profitability
By: Michelle V. Remo
Philippine Daily Inquirer

The Bangko Sentral ng Pilipinas on Friday said that the exposure of Philippine banks to the crisis-stricken euro zone was insignificant and local financial institutions were likely to sustain profit growth this year.
A recently concluded survey conducted by the Bangko Sentral ng Pilipinas said that as of June 30, the amount of euro-denominated securities held by Philippine banks stood at only 1.4 percent of their assets. The securities included those issued both by European governments and private entities.

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