PSEi closes above 8,000 for the first time

MANILA, Philippines - The Philippine Stock Exchange index (PSEi) closed above 8,000 for the first time.

The main index ended Monday's session at a new record of 8,053.74, up 0.76 percent, boosted by expectations of low inflation in March. This is the 25th record close notched by the PSEi this year.

The PSEi also hit a new all-time intraday high of 8,062.79.

Investors remain optimistic about the Philippine market given corporate expansions, such as in power and property, and are positioning their portfolios ahead of first-quarter results, said Astro del Castillo, managing director at First Grade Finance Inc in Manila.

Shares of SM Investment Corp, the country's biggest conglomerate by value, rose 2.1 percent, its biggest one-day gain since Feb. 9. The company said in a filing to the stock exchange on Monday that it is expecting 10-12 percent growth in recurring net income this year.

"Closing above the 8,000 level is significant as it reinforces the favorable view that investors have on our market. We are optimistic that the positive local developments and upbeat outlook on listed firms will provide more upside potential for the index,” said PSE President and CEO Hans B. Sicat.

Solaire casino operator Bloomberry Resorts Corp. was the biggest gainer, rising nearly 5 percent.

Telcos PLDT and Globe also surged over 3 percent.

At the foreign exchange market, the peso strengthened to P44.39 against the US dollar.

The greenback fell against most other currencies, as US employers added the least number of jobs last month in more than a year.

Southeast Asian stock markets mostly ended higher on Monday after weaker-than-expected U.S. jobs data raised doubts the Federal Reserve would hike interest rates any time soon.

The Indonesian stock index closed 0.4 percent up, led by a 2.5 percent gain in biggest bank by value Bank Central Asia Tbk.

"The dollar index has corrected and it gave the Indonesian market some positive support," said Muhamad Alfatih, an analyst with Samuel Sekuritas Indonesia in Jakarta.

The Indonesian rupiah advanced as much as 0.6 percent to 12,920 per dollar, its strongest since March 25.

Malaysian stocks rose 0.5 percent, while Vietnam .VNI was 0.9 down and Singapore ended marginally lower.

The Thai stock market was closed on Monday for a public holiday and will resume trading on Tuesday. - With Reuters and ANC

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PSE wins award

MANILA, Philippines - The Philippine Stock Exchange (PSE) recently received the Stock Exchange Innovation Award.

The International Stock Exchange Executives Emeriti (ISEEE) Lennar International Award presented the first such Stock Exchange Innovation Award to PSE President and CEO Hans B. Sicat last March 24 during the Florida Global Market Innovation Conference.

The Stock Exchange Innovation Award was given in recognition for innovation in the areas of governance, transparency and information quality, integrity, efficiency, liquidity, transaction costs, and technology in capital markets around the world.

Sicat joined the event through a video conference facility and was interviewed by Lennar International President Chris Marlin on the developments at the PSE, its corporate governance initiatives and the ASEAN integration.

"I am grateful to ISEEE and Lenner International for this award. This is particularly special since it is a group composed of stock exchange executives that recognized the innovations we introduced and launched. While this is an affirmation that the PSE is on the right track to realizing its goal of being a world class Exchange, the award also serves as a motivation for us to do even more for the promotion and development of our stock exchange," Sicat said.

ISEEE is a not-for-profit corporation registered in the State of New York, organized for educational purposes to leverage the expertise of former senior executives from all major exchanges around the world to better understand and formulate opinions on the leading issues affecting the global exchange community.

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PSEi hits 8th record close for the year

MANILA, Philippines - Philippine shares on Wednesday closed to its 8th all-time high this year, joining a region-wide cheer on the three-day rally in oil prices and as concerns of a Greek exit from the eurozone eased.

The Philippine Stock Exchange index (PSEi) closed at 7,716.06, up by 1.4 percent. It was the first time the main index closed at the 7,700 level.

The previous record close was 7,689.91 on January 30, 2015.

"While the PSEi trekked higher mostly in-step with Wall Street and other Asian markets, the Philippine story remains attractive to investors. The positive expectations continue to support the market’s uptrend," said PSE President and CEO Hans B. Sicat.

The PSEi also climbed to a new all-time intraday high at 7,738.12.

The Lucio Tan Group was the biggest gainer, as it surged over 8 percent to a three-month high.

Reuters said tobacco sales of PMFTC Inc, the joint venture of LT Group and Philip Morris International Inc, are seen improving this year on higher disposable income resulting from lower oil prices, says Luis Limlingan, analyst at Regina Capital Development Corp in Manila.

Petron also continued its rally for a fourth day, still on the recent rise in global oil prices.

Other big gainers include Semirara Mining and PLDT.

At the foreign exchange market, the peso strengthened to P44.11 against the US dollar. - With Reuters and ANC

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PSEi closes at new all-time high

MANILA, Philippines - The Philippine Stock Exchange index (PSEi) on Tuesday breached the 7,600 level, setting a new record close.

The main index ended the day at 7,630.57, up 0.6 percent. This was the fourth time the PSEi reached a new record close this year.

"Investor interest continues to be fuelled by expectations of good 2014 economic data and revenue growth. We are also pleased to note that fund managers remain upbeat about the market’s prospects," said PSE President and CEO Hans B. Sicat.

The PSEi also set a new all-time intraday high today at 7,631.85.

Philippine stocks joined a regional rally on waning concerns over the win of an anti-austerity party in Greece.

Investors were optimistic the coming into power of the Syriza party in Greece won't automatically translate to the country's exit from the Euro bloc.

Among the day's gainers were Aboitiz Power Corp, Metrobank, BDO
First Gen Corp and Meralco.

At the foreign exchange market, the peso finished stronger at P44.06 against the US dollar.

Asian stocks advance

The euro extended its gains against the dollar Tuesday while most Asian equities climbed on hopes Greece's new government will be able to negotiate a bailout deal with the EU and IMF that will avoid it leaving the eurozone.

Regional dealers were given a lift from advances in Europe and New York, where news of Sunday's Greek election win for anti-austerity party Syriza had been largely factored in, analysts said.

However, Hong Kong and Shanghai suffered heavy selling on profit-taking after rallying over the past week.

Tokyo rallied 1.72 percent, or 299.78 points, to 17,768.30, Sydney added 0.82 percent, or 45.38 points, to close at 5,547.2 and Seoul rose 0.86 percent, or 16.72 points, to close at 1,952.40.

But Shanghai fell 0.89 percent, or 30.22 points, to 3,352.96 and Hong Kong eased 0.41 percent, or 102.62 points, to 24,807.28.

Shanghai had rallied more than eight percent since last Monday, when it plunged 7.70 percent in response to a government crackdown on margin-trading.

Markets have been buoyed by rhetoric coming out of Athens and its creditors that raises hopes the two sides can reach an agreement over Greece's repayment of its 240-billion-euro bailout.

Syriza had campaigned on renegotiating terms of the lifeline -- which included swingeing spending cuts and painful tax hikes -- and there are concerns it will default on its repayments, leading to its possible exit from the eurozone.

But International Monetary Fund head Christine Lagarde said she was prepared to continue its financial support to the country, while some European finance ministers suggested they were willing to talk, as long as Syriza did not demand its debt be wiped out.

'Risk-on mode'

The messages coming out of Europe helped shares higher. In Europe, equities in London, Paris and Germany all closed with healthy gains, although Athens lost more than three percent.

Dow edged 0.03 percent higher, the S&P 500 added 0.26 percent and the Nasdaq put on 0.29 percent.

"The Greek elections had the potential to unnerve the market," Nader Naeimi, at AMP Capital Investors in Sydney, told Bloomberg News.

"It's quite encouraging that the new government and the EU are willing to negotiate. The market is in a risk-on mode."

And Gavin Parry, managing director of Parry International Trading, added: "Concerns have eased that the anti-austerity policies of the new government will force Greece to exit the eurozone."

The euro plunged to as low as $1.1098 at one point in Asia Monday, the lowest level since September 2003, before recovering later in the day to close out in New York at $1.1234.

On Tuesday in Asia it bought $1.1250.

It also sank to 131.55 yen Monday in Asia before bouncing to end the day at 133.12 yen. It bought 132.90 yen in Tokyo Tuesday.

The dollar edged down to 118.11 yen from 118.49 yen in US trade.

Oil prices slipped despite a warning from the OPEC cartel that prices could punch $200 owing to shrinking investment in exploration.

US benchmark West Texas Intermediate for March delivery fell 10 cents $45.05 while Brent crude for March eased 12 cents to $48.04.

Gold fetched $1,278.96 an ounce, against $1,281.39 late Monday. - With Agence France-Presse and ANC

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PSE to woo Japanese investors

MANILA, Philippines - The Philippine Stock Exchange (PSE) is seeking to woo Japanese businessmen, as it holds a seminar in Tokyo on Wednesday (January 21).

The PSE is holding the Philippine Business Environment Seminar, together with Takara Printing, The International Friendship Exchange Council, KPMG Japan, KPMG Philippines, and Mori Hamada & Matsumoto Law Office.

The seminar will give executives from some 150 Japanese companies an overview of the Philippine economy and business sector, as well as its outlook. Also to be discussed are the listing structure and rules of the exchange to encourage Japanese firms with Philippine subsidiaries to list at the PSE.

"Quite a number of Japanese companies have offices and facilities in the Philippines and we would like to apprise them of the developments in our capital markets as well as urge them to tap the Exchange for funding requirements,” PSE President and CEO Hans B. Sicat said in a statement.

The PSE is also hosting a Philippine Corporate Day on January 22 and 23, in partnership with DBP-Daiwa Capital Markets Philippines, Inc.

The roadshow will highlight the performance and prospects of the Philippine stock market and some of its listed firms.

Listed companies that will take part in the Corporate Day are Alliance Global Group, Inc., Ayala Corporation, Ayala Land, Inc., BDO Unibank, Inc., Energy Development Corporation, JG Summit Holdings, Inc., Metro Pacific Investments Corporation, The Philippine Stock Exchange, Inc., Petron Corporation, Robinsons Land Corporation, San Miguel Corporation, and Universal Robina Corporation. The representatives of the participating listed companies will meet with 25 investment firms in Japan.

"This is the third year that we are holding a roadshow in Japan with DBP-Daiwa. We hope that by personally meeting with fund managers, the PSE and the listed companies can encourage them to invest or further increase their exposure in our market," Sicat said.

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Share prices extend winning streak

MANILA, Philippines - Investors made their last-minute stock shopping yesterday before a long Christmas holiday break, extending the market’s winning streak to four consecutive trading days.

The Philippine Stock Exchange index (PSEi) gained 0.66 percent or 47.05 points to finish at 7,186.32 while the broader All Shares index climbed 0.55 percent or 23.19 points at 4,235.52.

Analysts again attributed Tuesday’s positive performance on the holiday rush in which investors took advantage of buying stocks.

The Christmas joy was likewise felt on markets abroad, with Asian shares finishing higher on the back of another Wall Street rally.

All three indexes in Wall Street ended in the positive territory led by the Dow which picked up 0.87 percent or 154.64 points.

Locally, all counters were on the green led by property and services firms which grew 1.35 percent and 1.27 percent, respectively.

Advancers remained ahead of decliners, 95 to 75, while 50 stocks were unchanged.

Value turnover thinned to P8.07 billion from P13.21 billion the previous day.

Tuesday’s trading was the stock market’s second to the last trading day for 2014. The market will be on a three-day hiatus and will resume action on Dec. 29.

“Since the government has declared the suspension of bank clearing and settlement operations for Dec. 24, 25, 26, 30 and 31, 2014 and Jan. 1 and 2, 2015, there will also be no trading, clearing and settlement at the PSE during these dates,” PSE president and CEO Hans B. Sicat said.

“We understand that prolonged breaks can be disruptive to the financial system especially in the context of globalizing environments and we have thus asked the Bangko Sentral ng Pilipinas to take into account in subsequent similar occasions opening clearing operations to minimize such disruptions,” Sicat added.

Read more on The Philippine Star.

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Only 2 stock market trading days left for 2014

MANILA, Philippines - There are only two remaining stock market trading days for 2014.

The Philippine Stock Exchange (PSE) said there will be stock market trading on December 23 and 29, 2014.

However, there will be no trading at the PSE during the days declared as regular and special non-working holidays over the Christmas break.

The holidays declared during the next two weeks are December 24, 25, 26, 30 and 31, 2014 and on January 1 and 2, 2015.

"Since the government has declared the suspension of bank clearing and settlement operations for December 24, 25, 26, 30 & 31, 2014 and January 1 & 2, 2015, there will also be no trading, clearing and settlement at the PSE during these dates," PSE President and CEO Hans B. Sicat said.

Trading at the PSE and clearing and settlement at the SCCP will resume on January 5, 2015.

"We understand that prolonged breaks can be disruptive to the financial system especially in the context of globalizing environments and we have thus asked the Bangko Sentral ng Pilipinas to take into account in subsequent similar occasions opening clearing operations to minimize such disruptions," Sicat said.

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PSE starts beta testing new trading system

MANILA, Philippines - The Philippine Stock Exchange has started beta testing its new trading system.

The PSE said it has released the beta test environment for the PSEtrade XTS. This is the version of NASDAQ’s X-Stream platform that has already been customized to fit the specific requirements of the PSE.

"We are proceeding with the implementation of the new trading system according to schedule. We are hopeful that given the series of tests conducted in the past months, the beta testing will proceed smoothly,” said PSE President and CEO Hans B. Sicat.

The PSE is preparing for the System Certification that will kick off in January 2015. The System Certification is the process where the Exchange ensures that third-party order management systems used by the Trading Participants connecting to the PSEtrade XTS are ready with the migration and in compliance with the requirements .

Barring any subsequent customization that may be required by the PSE, the beta test environment shall already serve as the final version of the PSE trading system scheduled to be launched in May 2015.

"This early, we are seeing the cooperation of all stakeholders in this major undertaking of the Exchange. We thank everyone for the support and effort they have poured to ensure that we transition seamlessly in 2015," Sicat said.

Earlier this year, the PSE tapped NASDAQ as the system provider of the new trading system which will replace the PSEtrade NSC. The PSEtrade NSC, developed by NYSE Technologies, was introduced in 2010.

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