The Philippine Stock Exchange index closes at 8,024.14 points on Monday, January 14
After a long wait, the Philippine Stock Exchange index (PSEi) finally climbed to the 8,000 level on Monday, January 14.
The index closed at 8,024.14 points, up by 1.52% from the level last Friday, January 11.
Volume turnover was at 1.13 billion shares valued at P6.8 billion. Foreign buying was at P4.3 billion, while foreign selling was at P3.2 billion.
The last time the PSEi reached the 8,000 level was in April 2018. The index fell into bear market territory last year, even falling as low as the 6,800 level back in October.
All sectors were all back in the green on Monday, with industrials leading the pack as it climbed by 2.14%.
The 5 most active stocks were Ayala Land (0.45%), Metrobank (2.63%), SM Prime Holdings (1.54%), SM Investments Corporation (0.71%), and Jollibee (2.34%).
Banking stocks, which took a beating last Friday amid the bankruptcy of Hanjin Heavy Industries and Construction Philippines, bounced back.
RCBC, which had the biggest loan exposure, was up by 2.8%. Metrobank (2.6%), BPI (2.1%), and BDO (0.23%) also closed in the green.
The PSEi outperformed most of its regional peers, as Asian markets were down amid China's dismal trade data. – Rappler.com
Some Taiwan-based manufacturing companies that supply parts to popular tech firms such as Apple are interested in setting up shop in the Philippines, as they look for ways to avoid the United States-China trade war.
Philippine Trade Undersecretary Ceferino Rodolfo said this earlier this month, telling reporters that some companies were already firm in their plans to manufacture here in the Philippines.
A bilateral investment agreement between the Philippines and Taiwan had helped the country's case in getting these Taiwan-based companies to consider the Philippines.
read more from: Singapore Times
SUBIC BAY FREEPORT – Taiwanese computer giant Wistron Infocomm Corp. will reopen its manufacturing plant here after closing shop almost a decade ago, officials of the Subic Bay Metropolitan Authority (SBMA) said.
Formerly one of the biggest export firms inside this free port, Wistron started recruiting to fill up 2,500 positions at its Subic facility.
Read more: Philippine Daily Inquirer
Investment pledges from foreign investors increased for the second straight quarter, rising 6.5 percent year-on-year to P45.9 billion in the third quarter, the government reported Thursday.
In a report, the Philippine Statistics Authority (PSA) said total foreign investments green-lighted by seven investment promotion agencies (IPAs) from July to September grew from P43 billion in the same three-month period last year.
Read more: Philippine Daily Inquirer
Southeast Asia’s 600 million-strong market is one of the most rapidly growing in the world. Despite this, only 27 percent of its population have bank accounts, data from professional services firm KPMG shows. In poorer countries like Cambodia, the numbers go even lower at 5 percent.
Skype co-founder Geoffrey Prentice aims to bring those numbers up by building financial identities for the unbanked through his newest venture, Oriente. And he’s just gotten the support of some of region’s richest families.
Hong Kong-based Oriente welcomes Malaysia’s Berjaya Group, the Philippines’ JG Summit Holdings, and Indonesia’s Sinar Mas as investors in its series A round, worth a whopping US$105 million. The investment follows joint venture deals that Oriente forged with the latter two conglomerates.
Read more: TechInAsia
Photo from: Oriente
TAIPEI (Taiwan News) - Taiwan Tigerair starts flights between the island of Cebu in the Philippines and Taiwan Taoyuan International Airport Saturday.
The airline, a low-cost affiliate of China Airlines, said that in the initial phase, there would be four flights a week, the Central News Agency reported.
Flight IT537 will leave Taoyuan at 10:35 p.m. on Tuesday, Thursday, Saturday and Sunday, while flight IT538 takes off at 2:30 a.m. on Wednesday, Friday, Sunday and Monday.
Read more: Taiwan News
Four of the top six economies on the scorecard are from Asia, including China, the Philippines and Thailand. China and Thailand are drawing support from current-account surpluses, relatively strong growth and benign inflation. The Philippines’ current-account deficit and high inflation rates are partly offset by growth of more than 6 percent
“A closer attention is now paid to economic growth outlooks of each emerging economy amid successive rate hikes,” said Tsutomu Soma, general manager of the investment trust and fixed-income department at SBI Securities Co. in Tokyo. “Investors are also deciphering how each country is impacted by the U.S.-China trade frictions. They will continue to be more selective with their investments given such circumstances.”
Read more: bloomberg
Taipei, Nov. 29 (CNA) Taiwan's Chinese National Federation of Industries signed six memorandums of understanding (MOU) with Filipino industry associations in Taipei Thursday and is looking for further opportunities for cooperation in the electronics, electric motorbike and plastics industries.
In an annual Taiwan-Philippines Industrial Collaboration Summit, Deputy Economics Minister Wang Mei-hua (王美花) said the MOUs will increase the willingness of Taiwanese businesses to invest in the Philippines, where the two countries have long cooperated in the electronics industry.
Read more: Focus Taiwan
Ayala Corp. is in talks to provide land to a Chinese company planning to build one of the world’s biggest tire factories in the Philippines to avoid having to pay U.S. tariffs, Chairman and Chief Executive Officer Jaime Augusto Zobel said.
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