Thursday, January 31, 2013

Ayala subsidiary gets deal to manufacture electronic parts for Mazda cars

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2:56 pm | Friday, February 1st, 2013


MANILA, Philippines—Ayala-led Integrated Micro-Electronics Inc. has bagged a deal to manufacture HVAC (heating, ventilation and air conditioning) and blower units for Mazda cars at its plant in Guadalajara, Mexico, starting in the first quarter of 2014.


IMI, a leading provider of electronics manufacturing services and power semiconductor assembly and tests services, told the Philippine Stock Exchange on Friday that it had entered into a partnership with Japan Climate Systems Corp. (JCS) whereby the latter would outsource to IMI the development of small plastic molds and plastic injection and complete product assembly of HVAC and blower units intended for Mazda cars.


JCS is a Japanese corporation that develops, manufactures and sells air conditioning, thermal control, and cooling apparati for automobile and industrial machinery. Mazda, along with Visteon and Panasonic, is one of the main shareholders of JCS.


“We are privileged to partner with JCS in its regional manufacturing strategy by building HVAC and blower units in our Mexico facility. This partnership also increases our company’s penetration into our target market of automotive electronics,” said IMI president and chief executive officer Arthur Tan.


“Our global footprint and extensive experience with Japanese partners make the synergy very compelling for JCS to choose IMI,” Tan added.


JCS president Toshiki Hiura said this partnership with an experienced electronics manufacturing service provider like IMI would allow this Japanese firm to efficiently manufacture for Mexico business.


“IMI’s plastic injection and assembly technology and many years of experience with Japanese original electronics manufacturers will definitely help us grow our business in this market,” he said.


Aside from Mexico, IMI has manufacturing sites in the Philippines, China, Singapore, the United States, Bulgaria, and the Czech Republic, enabling the company to assist original electronic equipment makers serving regional or international markets.


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Tags: Automotive , Business , electronics , Foreign Affairs , News , Stock Market



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Asian markets mixed, China factory data underwhelms

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11:18 am | Friday, February 1st, 2013


HONG KONG–Asian markets were mixed Friday, with Tokyo supported by further weakness in the yen, while Hong Kong and Shanghai dipped after official data showed Chinese manufacturing saw a moderate slowdown.


Tokyo were up 0.35 percent by the break and Sydney climbed 0.65 percent while Hong Kong shed 0.56 percent, Shanghai slipped 0.34 percent and Seoul eased 0.74 percent.


Beijing released official figures Friday showing manufacturing activity had seen a slip last month. The purchasing managers index (PMI) came in at 50.4, down from December’s 50.6 and below the 51.0 forecast by economists.


A score above 50 indicates an expansion in manufacturing activity.


The data represent the first halt to a recent rise in activity that has fuelled hopes the world’s number two economy has emerged from the slumber it endured through most of 2012.


However, a separate figure by banking giant HSBC showed the PMI at a more than two-year high of 52.3, up from 51.5 in December.


Tang Yonggang, an analyst at Hongyuan Securities, told Dow Jones Newswires: “The (official) PMI reading was lower than expectations, though it wasn’t too low, so the trend of expansion in manufacturing stays somewhat intact.”


China will release crucial trade and inflation figures next week.


Japanese shares enjoyed further advances as investors continued to sell the yen after the Bank of Japan said it would carry out open-ended monetary easing and introduce a two percent inflation target.


In early Tokyo trade the dollar bought 91.76 yen, up from 91.70 yen in New York late Thursday. The euro rose to 124.90 yen from 124.52 yen, while it also bought $1.3605, up from $1.3576.


Wall Street provided a weak lead as investors look ahead to the release late Friday of non-farm payroll figures for a fresh clue to the state of the economy, days after data showed it a surprise 0.1 percent contraction in the three months to December.


The Dow fell 0.36 percent, the S&P 500 dropped 0.26 percent and the Nasdaq was flat.


On oil markets New York’s main contract, light sweet crude for delivery in March, rose five cents to $97.54 a barrel and Brent North Sea crude for March delivery rose 18 cents to $115.73.


Gold was at $1,661.10 at 0220 GMT compared with $1,674.65 late Thursday.


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Tags: Business , Economic indicators , economy , HongKong , Purchasing Manager Index , Tokyo



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Hong Kong stocks open 0.14 percent higher




10:04 am | Friday, February 1st, 2013


HONG KONG–Hong Kong stocks opened 0.14 percent higher on Friday as dealers await the release of closely watched Chinese manufacturing data.


The benchmark Hang Seng Index added 33.81 points to 23,763.34.


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Japanese shares open up 0.48 percent on weak yen




9:35 am | Friday, February 1st, 2013


TOKYO–Japanese shares opened 0.48 percent higher Friday, as investors continued to rally around the yen’s depreciation.


The Nikkei 225 index at the Tokyo Stock Exchange added 53.92 points to 11,192.58 shortly after the opening bell.


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Tags: Business , economic indicator , Finance , Nikkei , Tokyo Stock Exchange , Yen



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Market Ends Choppy Trading Day In Negative Territory


Stocks showed a lack of direction throughout the trading day on Thursday as traders digested a mixed batch of economic data. Uncertainty ahead of Friday's monthly jobs report also contributed to the lack of conviction among traders.


Most of the major sectors showed only modest moves on the day, although considerable strength was visible among networking stocks. The NYSE Arca Networking Index surged up by 2.2 percent, regaining some ground after ending the two previous sessions sharply lower.


Infinera (INFN), Alcatel-Lucent (ALU), and Ciena (CIEN) turned in some of the networking sector's best performances.


What are today's top 50 stocks? This free list will share the big market movers on a daily basis to help you find trading opportunities.


View this list for free now.


On the other hand, gold stocks came under pressure, with a notable decrease by the price of gold weighing on the sector. With gold for April delivery sliding $19.60 to $1,662 an ounce, the NYSE Arca Gold Bugs Index fell by 1.1 percent.


Defense stocks also showed a significant move to the downside, dragging the Philadelphia Defense Sector Index down by 1.2 percent. General Dynamics (GD), General Dynamics (LLL), and Raytheon (RTN) posted notable losses.


The major averages eventually ended the day in negative territory, although the Nasdaq posted a very slim loss. While the Nasdaq edged down 0.18 points or less than 0.1 percent to 3,142.13, the Dow fell 49.84 points or 0.4 percent to 13,860.58 and the S&P 500 slid 3.85 points or 0.3 percent to 1,498.11. (RTTNews)



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Today's Video Newsletter: Uncertainty leads to choppy trading


Hello traders everywhere! Jeremy Lutz here with your mid-day market update for Thursday, the 31st of January.


Uncertainty ahead of tomorrow's monthly jobs report is contributing to choppy trading today. Following yesterday's disappointing fourth quarter GDP report, the Labor Department released a report before the start of trading showing a bigger than expected rebound by weekly jobless claims.


The Labor Department said initial jobless claims rose to 368,000 in the week ending on January 26th, an increase of 38,000 from the previous week's unrevised figure of 330,000. Economists had been expecting jobless claims to climb to 350,000 after hitting a five-year low in the previous week.


Today we'll take a look some individual stocks, shares of Facebook (FB ) have come under pressure after the social media giant reported sharply lower fourth quarter earnings. Facebook is currently down by 1.9 percent.


On the other hand, shares of Qualcomm (QCOM ) have surged up by 4.7 percent after the chip maker reported better than expected first quarter results and provided upbeat guidance.


Let's take at look at the markets and see what the Trade Triangles are telling us.


Have a great trading day,

Jeremy Lutz


Click Here to view today's video



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Higher growth trend seen for PH

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10:29 pm | Thursday, January 31st, 2013


Goldman Sachs expects the Philippine economy to move to a higher growth trend while the peso will continue to gain strength.


The global investment bank said the local currency could strengthen to 37.50 against the US dollar in the next 12 months.


Over the medium-term, or through 2016, the Philippines can grow its gross domestic product by 5.5 to 6 percent a year as the Singapore unit of the investment bank maintains a rosy outlook for Southeast Asia, said Mark Tan, a Goldman Sachs economist for the region.


“It’s a very interesting time to be here. There’s immense interest on the Philippines in the last 12 to 18 months—more so than I can remember over the last 10 years that I’ve been involved in Philippine research,” Tan said in a press briefing.


He said Asean’s growth path was brought on by several factors: Strong credit acceleration which, in turn, supported domestic demand; improved global demand; the top-down infrastructure programs of various governments; and the “relatively loose” monetary policy that supported investment and consumption growth.


The medium-term growth trend projected by Goldman Sachs is better than the 4.9-percent annual growth seen during the nine-year Arroyo administration, but is lower than the Aquino government’s fighting target of 7 to 8 percent.


To attain a growth rate of 8 percent, Tan said the present government would have to step up its infrastructure programs. Growth is driven by factors such as labor productivity, accumulation of physical capital, and how these two factors—labor and capital—are utilized to produce economies of scale, he explained.


“These are the areas the government needs to focus on,” Tan said.


Apart from boosting physical capital, he added, the government must also turn its energies to upgrade skills, move up the value-added chain and invest in human capital.


Tan noted how some investors in developed markets were somewhat disappointed in the slow pace of infrastructure rollout in the Philippines.


“But compared to its peers, I won’t say the Philippines is doing any worse,” he said, explaining that investors expected things to improve and this, in turn, would enable the Philippine economy to outperform other markets.


Still, he said, Goldman Sachs’ portfolio strategists maintained an “underweight” rating on Philippine equities due to valuation concerns.


“It’s now one of the most expensive markets in the region,” Tan said.


Also, he said, Goldman Sachs derives its strong peso outlook from the expected growth in overseas remittances and investment flows.


Monetary authorities in the region, including those from the Philippines, will likely become more tolerant of a stronger local currency if this is driven by fundamentals, for instance stronger trade and investment flows, Tan said.


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Tags: Business , Goldman Sachs , Gross Domestic Product , Growth , Philippine economy



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Metro Manila 3rd top global BPO hub, survey says

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10:26 pm | Thursday, January 31st, 2013


Metro Manila climbed up a notch on a list of the world’s top outsourcing hubs in 2012, ranking just behind India’s Bangalore and Mumbai.


A new study released this week by research firm Tholons showed that in 2012, Metro Manila edged out New Delhi to occupy the world’s 3rd top spot.


Also, Cebu City improved its position, climbing to 8th place in 2012 from the previous year’s 9th.


Apart from the top two, four other cities on the top 10 list were from India: New Delhi (4th), Chennai (5th), Hyderabad (6th) and Pune (7th).


At 9th and 10th places were the only European cities on the list: Dublin in Ireland and Krakow in Poland, respectively.


Other top Philippines cities cited by Tholons were: Davao (70th), Sta. Rosa (84th), Iloilo (93rd), Bacolod (94th), and Baguio (99th).


According to Tholons, the Philippines enjoys a more vibrant IT-BPO industry than those of Indonesia or Malaysia.


These three countries are considered the most promising Southeast Asian destinations in 2012.


The region’s “maturing outsourcing brand, improving macroeconomic environment, and expanding domestic markets” were cited in the survey as the reasons why large service providers prefer Southeast Asian markets.


“The Philippines’ IT-BPO industry was fueled by increased new investments from large and mid-sized foreign providers, as well as greater expansions of established locators and captives across many of the country’s established delivery locations,” Tholons said.


The Business Processing Association of the Philippines (BPAP) said the improvement in Metro Manila and Cebu’s rankings reaffirmed the Philippines’ position as a destination of choice for outsourcing services.


“The year 2013 promises to be even greater as we expect revenues to increase to $16 billion to provide employment to 926,000 Filipinos,” BPAP president Benedict Hernandez said. “We are steadfast in ensuring that the industry will achieve its targets of $25 billion in revenues and 1.3 million full-time employees by 2016.”


Several large BPO firms either set up shop or expanded operations in the Philippines last year, Hernandez said, explaining the improvement in the country’s position.


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Tags: bpo , Business , outsourcing activities , Philippines , ranking



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PLDT sets lower capex for ’13

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10:25 pm | Thursday, January 31st, 2013


Philippine Long Distance Telephone Co. (PLDT) expects to spend less for expansion this year following the recent completion of its two-year network modernization program.


Company officials refused to divulge the amount but said it would be lower than the P33 billion last year.


Despite the lower capital expenditure (capex) plan, PLDT chair Manuel V. Pangilinan said the company’s top priority would still be the expansion of its high-speed wireless and fixed broadband networks.


“There’s still a lot to be done. One is the buildup of our 4G-LTE (fourth generation Long Term Evolution) data network,” Pangilinan told reporters.


PLDT’s mobile unit, Smart Communications, is the first local telecom company to make LTE connectivity commercially available in the Philippines. LTE technology offers subscribers significantly faster download and browsing speeds over older third-generation (3G) wireless technologies.


Pangilinan said PLDT would also expand its fiber-optic backbone, which supported the company’s wireless and fixed broadband and telephony services. PLDT now has 54,000 kilometers of fiber-optic cables around the country—about four times more than that of rival Globe Telecom.


He said the telco was also looking at a new international cable landing station for the country.


PLDT is part of the consortium of regional telcos that built the $400-million Asia Submarine-Cable Express (ASE), increasing the company’s total bandwidth capacity. PLDT contributed $55 million to the project.


The ASE was PLDT’s third landing station, after those in Nasugbu, Batangas, for the Asia Pacific Cable Network 2 (APCN2) and Southeast Asia-Middle East-West Europe 3 (SMW3), and Bauang, La Union, for Asia-America Gateway (AAG). International landing cables are what bring Internet traffic in and out of the Philippines.


PLDT spent P67 billion for the modernization of its network in 2011 and 2012. Lower spending this year would also mean better cash flows, translating into bigger dividends for shareholders, Pangilinan said.


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Tags: Business , capex , PLDT



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LBP to put up 8 more branches

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10:24 pm | Thursday, January 31st, 2013


State-owned Land Bank of the Philippines will put up this year eight more branches outside Metro Manila to extend its financial services to more rural areas.


The government-run bank has 334 branches all over the country, of which 213 are in Luzon, 53 are in the Visayas, and 68 are in Mindanao.


The bank also has 1,082 automated teller machines.


As it turns 50 years old this year, Landbank said that it aims to better fulfill its developmental mandate by expanding its reach, and extending more loans to priority sectors such as the agriculture and fisheries sectors and small and medium scale enterprises.


“We welcome our 50th year poised for further growth and expansion as we seek to provide customers with convenient transactions and easier access to banking products and services,” Landbank president Gilda Pico said Thursday in a statement.


In the first three quarters of 2012, Landbank posted a net income of P7.6 billion, up by 7 percent from P7.1 billion in the same period the previous year.


The bank credits its profit growth partly to more aggressive lending, which is consistent with its mandate of helping boost growth of the economy through lending to the priority sectors.


The expansion plan of Land bank in 2013 comes amid the push by the Bangko Sentral ng Pilipinas for financially sound and stable banks to put up more branches in areas that lack access to financial services.


The BSP said that to make the Philippines’ economic growth more broad-based, banks should establish branches in remote areas.


It also said banks must meet the growing demand for loans and other financial products and services that come along with a growing economy.


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Petron raises $500M from sale of perpetual bonds

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10:23 pm | Thursday, January 31st, 2013


Petron Corp., the country’s largest oil refiner and distributor, has raised $500 million from the sale of perpetual bonds, thus reopening the international hybrid capital market for Philippine issuers.


Petron priced the hybrid capital notes at 7.5 percent a year after a “well-received” road show in Asia and the United Kingdom that resulted in an orderbook that was five times oversubscribed, said Wick Veloso, chief executive officer of HSBC Philippines, which is among the bookrunners and lead managers of this issue.


Perpetual capital securities are considered equity from the point of view of the issuer but these also have some features of a debt instrument.


“Petron will be able to account for this as equity because it is undated and because of the deferral option,” Veloso said.


The last Philippine corporate issuer that tapped the overseas hybrid capital market was port operator International Container Terminal Services Inc., which raised an initial $200 million in 2011 then reopened the issue last year to bring the total issue size to $350 million.


The latest issuance consists of US dollar-denominated undated subordinated capital securities, which are “callable” or can be redeemed after 5.5 years and every six months after. If not redeemed, Petron will have to pay a step-up rate, creating a “synthetic maturity” deemed as an investor-friendly feature.


“This transaction is notable for being only the second hybrid capital issuance from the Philippines,” Veloso said.


The three other banks that acted as joint bookrunners and lead managers are Deutsche Bank, Standard Chartered Bank and UBS.


“We congratulate Petron for this landmark deal that brings Petron a step closer in its Refinery Mastery Plan 2. Despite heavy supply in the market, Petron navigated it successfully and achieved outstanding results,” Veloso said.


Petron’s Refinery Master Plan seeks to enable the company to diversify into the petrochemical business and sustain its growth momentum.


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Tags: Business , perpetual bonds , Petron



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Strong growth allows BSP to enforce stricter rules on ‘hot money’

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8:43 pm | Thursday, January 31st, 2013



BSP Governor Amando Tetangco Jr.



MANILA, Philippines–The Bangko Sentral ng Pilipinas said robust growth of the economy had allowed it to become stricter against excessive foreign portfolio investments and help keep stability in the country’s financial markets.


With a strong pace of economic growth, the BSP said it could focus on helping maintain financial-sector stability, like regulating unhealthy surges in foreign capital inflows.


Had the economy’s growth been anemic, regulators would have been a bit tolerant of surges in foreign capital inflows, which could be a source of funds for investment activities.


Following reports that the Philippine economy grew by 6.6 percent in 2012, BSP Governor Amando Tetangco Jr. on Thursday said the central bank was prepared to implement more bank regulations on foreign portfolio investments if risks of financial-sector instability became pronounced.


“This (robust economic growth) gives us more degrees of freedom to adjust our market operations and institute other macroprudential tools as appropriate to ensure that volatilities in financial markets do not translate into excesses in other sectors of the economy,” Tetangco told reporters.


For the BSP, foreign portfolio investments were welcome, especially since these would help make the country’s stock and bond markets more vibrant. However, the BSP said excessive amounts of portfolio investments should be avoided because these have a tendency to cause volatility in the financial markets.


For instance, too much dollar inflows could cause the peso to sharply appreciate against the US dollar.


The BSP said it did not have a bias in favor of a strong or weak peso, but stressed that extreme volatility of the exchange rate should be avoided because it was bad for businesses, especially those engaged in import and export.


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Trade with a Plan – Setting Your Limits


If you follow our blog, then you are definitely familiar with trader Larry Levin, President of Trading Advantage LLC. We have gotten such a great response from some of his past posts that he has agreed to share one more of his favorite trading tips as a special treat to our viewers. Determining the direction of the market can be tricky and just plain confusing at times, but Larry’s expert opinion keeps it simple and straight-to-the-point.


If you like this article, Larry’s also agreed to give you free access to his Double Stop trading technique.


Today he’s going to talk about how setting your limits can help you avoid sabotaging yourself.


I think trading with a specific plan is one of the most sensible things a trader can do. It helps you learn and identify key areas to watch for in a market. More importantly, it helps you avoid sabotaging yourself because it helps keep your emotions in check. One of the key components of a trading plan is knowing your exits. One way to close an open trading position is with a limit order.


Limit orders target a specific price level – they won't be filled unless the market trades there


Limit orders are pretty straightforward once you get the hang of them. They are contingency orders. The market has to trade at a specified price level before it is even possible for the order to get filled. Even then, there is no guarantee that it will get filled.


Limit orders say that the trade can be executed at a specific price level or better, but not worse


Buy limit orders are used for an exit strategy on open short positions. Use these if you sold a contract to enter the market. Sell limit orders are used in a plan to exit open long positions. They are employed if you bought a contract to initiate a trade.


Basic limit orders specify the market and the price level and the action to take. For example:


Buy one December e-mini S&P futures at 1350.00 or better.


To be an effective limit order, the market would have to be trading above that price point at the time the order is placed. Why? Because if you were to put in an order like that and the market was already trading lower, it would already be a better price to buy at. That means the order would probably just be executed at the market.


The same kind of logic has to be played out when you are picking a price for a sell limit order. For example:


Sell one December e-mini S&P futures at 1355.00 or better.


For this order to work as it is intended, the market must be trading lower than the limit price, otherwise it is already at a "better" price to sell.


Limit orders are likely the "happy" exit plan for a trade. They represent better prices than the market will be trading at the time you place them. That means if you enter a market and then place an exit order at a "better" price, you are probably aiming to exit at a profit.



Once the limit order has been placed (buy limit to close an open short position, sell limit for an open long position), it is just a matter of waiting to see where the market goes. This part of a plan can help traders avoid those mental traps where they ride trades just a little too long, hoping to scoop up extra profits. Limit orders can prevent you from getting greedy. If you have other working orders at the same time, don't forget to cancel them if the other orders are filled.


Traders can use limit orders as part of a complete trading plan that covers the potential for the good and the bad


Limit orders only come into play when the market trades at or through your limit price. Otherwise, they remain in waiting. If the market trades through the price, you can only be filled at your limit price or better. It's that simple. These contingency orders can also be used to enter a market position, but I often recommend they work as part of an exit plan for trade design.


Click here to see Larry’s Double Stop trading technique.


Larry Levin

President & Founder- Trading Advantage

larry@tradingadvantage.com


Futures and options trading involves a substantial degree of risk and may not be suitable for all investors. Past performance is not necessarily indicative of future results. Secrets of Traders LLC provides only training and educational information. By accessing any Secrets of Traders or Trading Advantage content, you agree to be bound by the terms of service. Click Here to review the terms of service.



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World stocks fall on unexpected dip in US economy

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5:42 pm | Thursday, January 31st, 2013



Trader Michael Mozian works on the floor of the New York Stock Exchange Wednesday, Jan. 30, 2013. Stocks are falling after the government revealed that economic growth shrank in the final quarter of 2012, the first time that’s happened in more than three years. (AP Photo/Richard Drew)



BANGKOK — An unexpected contraction in the U.S. economy at the end of 2012 sent world stock markets into retreat Thursday.


The U.S. economy shrank in the fourth quarter for the first time since mid-2009, hurt by big cuts in defense spending, falling exports and sluggish growth in company inventories, the government reported Wednesday. That put the brakes on a Wall Street rally that had pushed the Dow to near-record highs.


“The market has been looking for any excuse to pull back after such an epic month and has taken this news as the main lead for the day,” said Evan Lucas of IG Markets in Melbourne in an email commentary.


European stocks opened lower. Britain’s FTSE 100 fell 0.3 percent to 6,306.17. Germany’s DAX shed 0.1 percent at 7,800.71 and France’s CAC-40 lost 0.3 percent at 3,755.27.


Stocks futures on Wall Street augured a lower opening, with Dow Jones industrial futures down 0.1 percent at 13,830. S&P 500 futures were down 0.1 percent at 1,494.10.


Most stock markets were lower in Asia. However, the regional heavyweight, Japan’s Nikkei 225 index, closed 0.2 percent higher at 11,138.66, recovering from early morning losses sparked by lower-than-expected growth in December’s industrial production. Output climbed a seasonally adjusted 2.5 percent from November but most analysts had forecast an improvement of more than 4 percent.


Hong Kong’s Hang Seng fell 0.4 percent to 23,729.53. South Korea’s Kospi shed 0.1 percent to 1,961.94. Australia’s S&P/ASX 200 fell 0.4 percent to 4,878.80, following 10 straight sessions of gains. Benchmarks in Thailand, the Philippines, Indonesia and Malaysia fell. Mainland China was mixed. New Zealand rose.


In a statement released after a two-day policy meeting Wednesday, the U.S. Federal Reserve acknowledged that the economy is still struggling to regain momentum. The central bank said that growth had “paused in recent months,” and while it was taking no new action, it would keep buying $85 billion of bonds a month.


With the Fed meeting behind them, traders and investors will now turn their focus back to company earnings and Friday’s nonfarm employment report. Lucas of IG Markets said he thinks a good jobs report could be just what the markets need to resume their upward momentum.


“If we see positive data there, it will reinforce the idea that the pressure is easing and economic data in the U.S. is continuing to get better,” he said.


Among individual stocks, Australia’s Whitehaven Coal Ltd. fell 5.5 percent after warning its earnings would be under $10 million in the first half of its financial year. Japanese video-game maker Nintendo Co. fell 4.6 percent after the company lowered its full year sales forecast to 670 billion yen ($7.4 billion) from 810 billion yen ($8.9 billion).


Game machines have taken a beating from the proliferation of smartphones and tablets that also offer games and other entertainment, competing for people’s leisure time. Some analysts say the global market for game machines is saturated with offerings from Nintendo, Microsoft Corp., Sony Corp. and others.


The Dow closed down Wednesday after the government reported that the economy shrank an annualized 0.1 percent in the October-December quarter of 2012.


Benchmark oil for March delivery was down 18 cents to $97.76 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 37 cents to finish at $97.94 per barrel on the New York Mercantile Exchange


In currencies, the euro fell slightly to $1.3564 from $1.3567 late Wednesday in New York. The dollar fell to 90.93 yen from 91.20 yen.


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Stocks end lower as investors lock up gains

By


5:35 pm | Thursday, January 31st, 2013



pse.com.ph photo



MANILA, Philippines–Local stocks hit a new record intra-day peak but closed in negative territory on Thursday as investors locked up gains after the government announced a 6.8-percent local economic growth rate for the fourth quarter of 2012.


The main-share Philippine Stock Exchange index closed 28.49 points or 0.45 percent lower at 6,242.74, ending a five-day winning streak. The index pulled back from the day’s peak of 6,332.27 – a new record high – as the latest growth report only slightly exceeded government forecasts.


The financial (-2.05 percent) and services (-1.72 percent) counters were most battered by the profit-taking, which intensified in the afternoon.


Value turnover was large at P12.44 billion. There were 62 advancers which were edged out by 106 decliners while 44 stocks were unchanged.


The day’s decline was triggered by profit-taking on Metrobank, PLDT, Meralco, Megaworld, MPI, Globe and BPI.


On the other hand, ALI, Ayala Corp., gains eked out by SMIC, BDO, SMC, EDC, URC and AEV tempered the PSEi’s decline.


The 6.8 percent gross domestic product growth for the fourth quarter was better than the 6.3 percent consensus forecast for the period but was not enough to excite the market, according to Eagle Equities president Joseph Roxas.


“The public does not know the consensus,” Roxas said, adding that what was more given weight was that the fourth quarter figure was lower than the revised growth of 7.2 percent for the third quarter of 2012.


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Philippine Stock Market table as of January 31, 2013



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.


 (As of Jan. 31, 2013)

.


52-WK52-WKSTOCKSOPENHIGHLOWCLOSEVOLUME

.


HIGHLOWBANKS

.


77.753.23BDO Unibank, Inc.76.5577.276.5576.94,588,090

.


11060.15Bank of the Philippine Islands106.8109.61001001,421,660

.


58.1537.55China Banking Corporation5757.0556.2556.4459,400

.


32.9518.5East West Banking Corporation3131.4530.9531.05617,300

.


108.175.5Metropolitan Bank and Trust Company106.6107.1104.8105.45,729,040

.


102.561.4Philippine National Bank101.1101.499991,164,230

.


10973Philippine Savings Bank1071071071071,050

.


70.530.3Rizal Commercial Banking Corp.68.368.567.568109,760

.


178109Security Bank Corporation175.5175.5173173.7761,540

.


14074.05Union Bank of the Philippines122125120.5120.6214,730

.


 OTHER FINANCIAL INSTITUTIONS

.


2.21.6BDO Leasing and Finance, Inc.222232,000

.


0.960.67Bankard, Inc.0.80.830.80.83248,000

.


23.5517.9COL Financial Group, Inc.18.981918.761977,500

.


12.48.54Filipino Fund, Inc.11.1611.6811.1611.683,000

.


3.252I-Remit, Inc.2.882.882.852.8513,000

.


590420Manulife Financial Corporation54054054054060

.


39.24Maybank ATR Kim Eng Financial Corp.24.624.624244,100

.


3.061.69National Reinsurance Corp. of the Phils.1.741.741.741.7443,000

.


500245The Philippine Stock Exchange, Inc46046646046042,060

.


1,110.00879Sun Life Financial, Inc.1,090.001,090.001,090.001,090.0095

.


2.71.71Vantage Equities, Inc.2.462.52.442.44794,000

.


 ELECTRICITY, ENERGY, POWER AND WATER

.


38.6528.7Aboitiz Power Corporation3838.137.8538.13,841,000

.


1.621.2Alsons Consolidated Resources, Inc.1.31.311.271.271,021,000

.


4.992.12Calapan Ventures, Inc.4.124.124.024.1153,000

.


7.34.83Energy Development Corporation7.287.297.17.1539,374,900

.


26.8512.8First Gen Corporation26.626.652626.453,362,600

.


104.458.5First Phil. Holdings Corp.104.4104.4102.5102.71,110,340

.


36.420.55Manila Water Company, Inc.3636.235.635.91,836,600

.


301218.8Manila Electric Company300300.2290.2290.21,244,920

.


11.99.7Petron Corporation11.311.410.9810.9810,240,700

.


11.047.35Phoenix Petroleum Philippines, Inc.10.8610.9610.7210.781,081,700

.


7.63SPC Power Corporation4.754.754.754.755,000

.


1.781.03Trans-Asia Oil and Energy Dev't Corp.1.741.751.641.6846,437,000

.


 FOOD, BEVERAGE AND TOBACCO

.


11.326.22AgriNurture, Inc.8.018.057.87.8300,000

.


2.261.26Alliance Select Foods Int'l, Inc.2.012.011.972376,000

.


5.94.32D and L Industries, Inc.5.85.835.725.89,797,800

.


23.916.5Ginebra San Miguel Inc.171716.9816.982,100

.


12093Jollibee Foods Corporation110110.2108109.7585,660

.


14.663.7LT Group, Inc.13.914.0813.7613.94,262,700

.


6.882.26Pepsi-Cola Products Philippines, Inc.6.36.396.26.394,396,800

.


5.181.42RFM Corporation4.864.954.824.821,583,000

.


3.82.3Roxas Holdings, Inc.33.1533.15205,000

.


1,010.00239.8San Miguel Pure Foods Company Inc.240241239.824029,030

.


118100San Miguel Corporation115115.31101122,648,530

.


0.220.123Swift Foods, Inc.0.1480.1480.1480.1481,610,000

.


8850.35Universal Robina Corporation87.1587.586.987.43,098,350

.


5.51.05Victorias Milling Company, Inc.1.561.561.51.513,601,000

.


2.080.47Vitarich Corporation0.960.960.930.94364,000

.


 CONSTRUCTION, INFRASTRUCTURE AND ALLIED SERVICES

.


61.0017.10Asiabest Group International Inc.19.0019.0018.7818.801,000

.


11.724.61EEI Corporation11.2811.7211.2811.55,647,800

.


1410.78Holcim Philippines, Inc.13.313.513.213.541,800

.


11.85.76Lafarge Republic, Inc.11.4811.511.211.46402,200

.


7.52.35Mariwasa Siam Holdings, Inc.5.25.255.1573,600

.


18.89.9Megawide Construction Corporation1818.381818.38144,900

.


1410.16Phinma Corporation1212.71212.0214,100

.


2.771.66TKC Steel Corporation1.681.741.681.717,000

.


2.20.9Vulcan Industrial and Mining Corporation1.571.621.541.544,492,000

.


 CHEMICALS

.


3.122.42Chemrez Technologies, Inc.2.952.952.932.95208,000

.


8.41.44LMG Chemicals Corporation2.532.72.522.52120,000

.


22.51.51Manchester Int'l Hldgs. Unltd. Corp "A"13.113.9413.113.9456,100

.


231.5Manchester Int'l Hldgs. Unltd. Corp "B"13.241413.241429,200

.


 ELECTRICAL COMPONENTS AND EQUIPMENT

.


28.955.28Cirtek Holdings Philippines Corporation27.527.9526.827.9524,000

.


0.0270.011Greenergy Holdings, Inc.0.0190.020.0190.0273,000,000

.


5.443.8Integrated Micro-Electronics, Inc.4.124.124.054.0534,000

.


1.180.51Ionics, Inc.0.650.650.650.6515,000

.


 OTHER INDUSTRIALS

.


2.441.7Splash Corporation1.781.781.721.72216,000

.


 HOLDING FIRMS

.


50.0022.65ABS-CBN Holdings Corp. – Phil Deposit Receipts44.5044.8044.0044.80267,100

.


5.953.3A. Soriano Corporation5.745.745.675.765,500

.


2.980.9ATN Holdings, Inc. "A"0.990.990.950.9548,000

.


3.520.88ATN Holdings, Inc. "B"0.980.980.910.91509,000

.


1.030.65Abacus Cons. Res. and Hold'gs, Inc.0.680.710.670.6813,424,000

.


59.941.45Aboitiz Equity Ventures, Inc.5555.65555.554,497,380

.


0.1690.014Alcorn Gold Resources Corp.0.1570.1580.1540.154242,000,000

.


19.2610.24Alliance Global Group, Inc.19.1819.2618.518.9218,065,700

.


6.983.75Asia Amalgamated Holdings Corp.5.25.24.85582,800

.


2.71.88Anglo-Philippine Holdings Corporation2.342.342.322.34416,000

.


570349.6Ayala Corporation555.5570550568954,350

.


64.844.2DMCI Holdings, Inc.55.155.2554.75553,296,170

.


4.192.35F and J Prince Holdings Corp. "A"3.053.053.053.054,000

.


5.23.78Filinvest Development Corporation5.025.195.025.051,079,400

.


0.350.2Forum Pacific, Inc.0.2290.2290.2290.22910,000

.


694.00455.40GT Capital Holdings, Inc.685.00691.50685.00688.50285,980

.


6.83.55House of Investments, Inc.6.56.726.56.52,086,000

.


40.724.5JG Summit Holdings, Inc.404039.55401,642,000

.


8.22.08Jolliville Holdings Corporation7777100

.


5.73.25Keppel Philippines Holdings, Inc. "A"5.35.35.35.36,000

.


1.540.91Lodestar Investment Hldgs Corp.0.980.980.970.97123,000

.


7.364.9Lopez Holdings Corporation7.327.367.247.37,251,300

.


0.850.32Mabuhay Holdings Corporation0.490.490.480.48420,000

.


3.81.71Marcventures Holdings, Inc.1.922.081.912.033,811,000

.


5.33.48Metro Pacific Investments Corporation5.25.235.015.242,896,700

.


7.384.38Minerales Industrias Corporation7.377.387.27.34693,200

.


0.0680.044Pacifica, Inc.0.0520.0520.050.05700,000

.


2.641.02Prime Media Holdings, Inc.2.12.642.092.1623,903,000

.


0.710.42Prime Orion Philippines, Inc.0.680.70.670.673,727,000

.


3.21.9Republic Glass Holdings Corp.2.62.62.62.65,000

.


985610SM Investments Corporation960964940952550,910

.


2.591.21Seafront Resources Corporation2.062.22.052.1374,000

.


0.420.3Sinophil Corporation0.330.340.330.333,470,000

.


2.711.13Solid Group, Inc.2.392.42.32.321,319,000

.


1.571.04South China Resources, Inc.1.141.141.141.1416,000

.


0.420.21Unioil Resources and Holdings Co., Inc.0.270.270.270.2760,000

.


0.60.28Wellex Industries, Inc.0.290.290.290.29930,000

.


0.810.33Zeus Holdings, Inc.0.640.660.60.612,023,000

.


 PROPERTY

.


3.892.45A Brown Company, Inc.2.9532.922.92631,000

.


27.459.5Anchor Land Holdings, Inc17.617.61717.21,400

.


1.360.45Araneta Properties, Inc.1.121.151.081.084,382,000

.


0.2290.162Arthaland Corporation0.1990.1990.1960.19650,000

.


29.617.4Ayala Land, Inc.2929.628.82920,363,600

.


5.624Belle Corporation5.085.15.055.073,854,500

.


8.353Cebu Holdings, Inc.4.354.394.264.26289,000

.


2.471.35Century Properties Group, Inc.2.062.061.952.0319,332,000

.


31.25City and Land Developers, Inc.2.352.352.352.358,000

.


1.20.95Cityland Development Corporation1.141.181.141.187,450,000

.


0.0920.06Crown Equities, Inc.0.0640.0660.0640.0651,300,000

.


1.110.76Cyber Bay Corporation0.810.820.80.8902,000

.


1.130.62Empire East Land Holdings, Inc.1.051.051.021.0319,103,000

.


0.450.155Ever Gotesco Resources and Hold'gs, Inc.0.390.390.380.383,290,000

.


1.841.15Filinvest Land, Inc.1.821.821.741.7431,106,000

.


2.321.63Global-Estate Resorts, Inc.2.142.142.112.1414,744,000

.


2.81.34Highlands Prime, Inc.1.981.981.981.983,000

.


2.140.8IRC Properties, Inc.1.141.151.131.15151,000

.


4.51.7Keppel Philippines Properties, Inc.2.852.852.852.851,000

.


0.280.105MRC Allied, Inc.0.110.1110.1060.10811,170,000

.


3.491.58Megaworld Corporation3.493.493.353.3774,110,000

.


0.990.36Phil. Estates Corporation0.630.640.620.622,344,000

.


0.620.4Philippine Realty and Holdings Corp.0.490.490.490.4960,000

.


22.613.52Robinson Land Corporation21.621.9521.321.45,507,900

.


7.712.35Rockwell Land Corporation3.063.173.053.12657,000

.


6.885.72SM Development Corporation66.015.976.013,990,400

.


17.7211.81SM Prime Holdings, Inc.17.717.717.217.5415,680,800

.


3.51.99Shang Properties, Inc.3.23.53.113.111,358,000

.


0.960.65Sta. Lucia Land, Inc.0.750.750.730.74920,000

.


4.552.31Starmalls, Inc.3.783.783.773.7791,000

.


0.660.49Suntrust Home Developers, Inc.0.570.580.570.58190,000

.


5.33.02Vista Land and Lifescapes, Inc.5.285.285.135.1818,570,400

.


 MEDIA

.


4224.1ABS-CBN Corporation41.341.34141.261,300

.


11.027.99GMA Holdings, Inc.10.0410.069.9510.00654,500

.


117.88GMA Network, Inc.9.679.79.69.6274,100

.


0.820.6Manila Bulletin Publishing Corp.0.770.770.730.779,000

.


 TELECOMMUNICATIONS

.


1,255.00990Globe Telecom, Inc.1,158.001,170.001,074.001,074.00171,145

.


3.132.28Liberty Telecoms Holdings, Inc.2.42.42.42.440,000

.


2,940.002,290.00Phil. Long Distance Telephone Co.2,846.002,860.002,786.002,786.00202,250

.


 INFORMATION TECHNOLOGY

.


9.74DFNN, Inc.4.74.894.634.63162,000

.


4.71.75IP Converge Data Center, Inc.3.924.053.923.95516,000

.


1.650.54IPVG Corporation0.670.670.660.66280,000

.


3.382.16ISM Communications Corporation2.252.252.162.25222,000

.


18.44.5Imperial Resources, Inc. "A"6.66.66.596.591,300

.


0.0850.04Island Information and Technology, Inc.0.0520.0520.0510.0511,600,000

.


17.8812.1Philweb Corporation14.214.214.1414.18976,000

.


14.183.3Touch Solutions, Inc.8.758.858.258.7443,300

.


4.51.14Yehey! Corporation1.481.51.351.351,101,000

.


11.884.21iRipple, Inc.9.49.49.49.4100

.


 TRANSPORTATION SERVICES

.


4.721.352GO Group, Inc.1.9921.91.941,000

.


16.047.68Asian Terminals, Inc.12.0212.51212339,800

.


7752.4Cebu Air, Inc.62.362.561.862392,840

.


7855.8Int'l Container Terminal Services, Inc.7676.4575.576.051,785,640

.


 HOTEL AND LEISURE

.


6.071.05Acesite (Phils.) Hotel Corp.1.321.321.261.344,000

.


0.2420.101Boulevard Holdings, Inc.0.1260.1270.1250.12513,350,000

.


0.720.35Waterfront Philippines, Inc.0.420.420.410.41700,000

.


 EDUCATION

.


12.59.7Centro Escolar University11.9411.9411.511.941,100

.


1,100.00800Far Eastern University, Inc.1,072.001,072.001,072.001,072.001,000

.


 CASINOS AND GAMING

.


49.68.13Bloomberry Resorts Corporation13.0213.1213.0213.043,978,900

.


0.2370.019IP E-Game Ventures Inc.0.0240.0240.0230.023442,700,000

.


9.96.28Leisure and Resorts World Corporation8.959.258.9593,128,800

.


4.081.39Manila Jockey Club, Inc.2.892.892.782.8270,000

.


15.512.45Pacific Online Systems Corporation13.9813.9813.9813.9816,500

.


188.95Philippine Racing Club, Inc.10.210.710.210.5858,900

.


0.390.28Premiere Horizon Alliance Corporation0.340.340.330.33850,000

.


 RETAIL

.


243.65Calata Corporation4.074.283.823.943,053,000

.


10020.87Philippine Seven Corporation93100931007,710

.


35.319Puregold Price Club, Inc.35.2535.334.334.956,335,100

.


 OTHER SERVICES

.


0.950.6APC Group, Inc.0.910.920.860.8920,494,000

.


0.650.38Information Capital Tech. Ventures, Inc0.420.430.420.43130,000

.


3.471.96Paxys, Inc.2.832.842.772.78584,000

.


3.080.92STI Education Systems Holdings, Inc.0.9910.970.9935,293,000

.


 MINING

.


0.0070.0039Abra Mining and Industrial Corp.0.00550.00550.00550.005531,000,000

.


6.24.1Apex Mining Company, Inc. "A"4.54.54.54.564,000

.


6.224.4Apex Mining Company, Inc. "B"4.54.54.54.582,000

.


22.516.8Atlas Cons. Mining and Dev't Corp.22.322.521.8221,853,900

.


4810Atok-Big Wedge Company, Inc.22.523.4522.4232,900

.


2.120.82Century Peak Metals Holdings Corporation1.021.041.011.03506,000

.


1.680.91Coal Asia Holdings, Inc.0.930.940.920.925,759,000

.


61.814.52Dizon Copper Silver Mines, Inc.15.415.414.715.256,800

.


1.210.48GEOGRACE Resources Philippines, Inc.0.530.530.520.53527,000

.


1.70.86Lepanto Consolidated Mining Co. "A"1.131.161.121.1217,714,000

.


1.870.92Lepanto Consolidated Mining Co. "B"1.251.251.221.2210,015,000

.


0.0850.047Manila Mining Corporation "A"0.0650.0660.0630.063232,020,000

.


0.0870.047Manila Mining Corporation "B"0.0690.070.0680.069304,320,000

.


12.843.84NiHAO Minerals Resources Int'l, Inc.3.893.933.843.88924,000

.


24.3314.6Nickel Asia Corporation20.2520.319.819.83,425,100

.


0.980.51Omico Corporation0.60.630.60.621,316,000

.


8.283.07Oriental Peninsula Resources Group, Inc.3.43.413.33.331,783,000

.


27.8512.52Philex Mining Corporation17.6217.6817.517.544,554,600

.


257.8200Semirara Mining Corporation251.8251.8246246184,440

.


0.0280.014United Paragon Mining Corporation0.0180.0180.0180.0185,100,000

.


 OIL

.


0.340.226Basic Energy Corporation0.280.280.280.28920,000

.


0.0320.016Oriental Pet. and Minerals Corp. "A"0.0220.0220.020.021126,900,000

.


0.0330.017Oriental Pet. and Minerals Corp. "B"0.0210.0220.0210.0225,400,000

.


7.055.62Petroenergy Resources Corporation6.356.826.346.34398,700

.


489.5Philex Petroleum Corporation33.433.532.3533.5303,700

.


0.0620.028The Philodrill Corporation0.0440.0440.0420.042369,300,000

.


 OPENHIGHLOWCLOSE% ChangePt. ChangeVOLUMEVALUE

.


Financials1,650.331,671.061,616.61,616.6-2.04-33.7518,860,5271,659,362,457.92

.


Industrials9,456.769,601.559,452.279,504.390.547.41227,870,1612,227,800,121.37

.


Holding Firms5,562.45,569.015,487.335,555.780.7943.68392,209,9042,553,353,887.69

.


Property2,536.12,550.92,506.552,514.12-0.31-7.72384,647,5442,122,050,856.09

.


Services1,884.331,889.811,850.321,850.32-1.72-32.43540,200,1551,353,010,882.95

.


Mining & Oil21,764.3721,912.1921,550.1321,550.13-0.85-184.391,235,967,6622,528,790,631.03

.


PSEi6,320.746,332.276,240.736,242.74-0.45-28.49

.


All Shares3,949.513,978.233,935.863,937.54-0.3-11.99

.


SME 100940

.

.


GRAND TOTAL 2,799,756,05312,444,369,777.0489

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 COMPILED BY MARIELLE MEDINA, INQUIRER RESEARCH SOURCE: TECHNISTOCK, PSE


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