Bourse expected to extend bull run for next TWO years



THE LOCAL BOURSE is expected to end the year about 41% up from the start of trading in January and maintain its bull run for the next two to three years, an analyst said during a briefing yesterday.

"The level of 4,250 will be a good number [for the Philippine Stock Exchange index, or PSEi] for yearend," Jonathan L. Ravelas, chief market strategist of Banco de Oro Unibank, Inc., said in a presentation at the Philippine Stock Exchange (PSE)-sponsored Investments Outlook for 2011 in Makati City.

"We are looking at a bull run in the next two to three years."

He said that this year will be followed immediately by a correction to 3,600-3,800 in the first quarter of 2011 before the market springs back.


"My 12- to 24-month [forecast] is 5,000...there is still room [for growth], but a correction is needed in the market," Mr. Ravelas said.

"Adjustment will happen in the first quarter and that is the opportunity to enter the market," he added.

PSEi yesterday gained 0.79% or 32.65 points to 4,148.03. The bellwether main index has also jumped by 38.03% or 1,142.93 points since the start of trading this year on Jan. 4.

For Smith Chua, head of Fixed Income group at ING Investment Management Philippines, Inc., yields in the equity market outperform other investment options.

Mr. Chua said that, year-to-date, the local stock market has an average yield of 49%, higher than 17.82% for Philippine local bonds, 16.22% average for equity markets in emerging countries like Indonesia and Vietnam, and 8.39% in United States Treasury bills.

"We can attribute the returns from the post-election optimism we are feeling," Mr. Chua said.

"The level of confidence among consumers and businesses is still elevated. When people feel good about the economy, they tend to take more risks or spend more; so there is more consumer spending or higher capital expenditures," he explained.

Mr. Chua said good earnings prospects for companies will boost the local stock exchange. "We are looking to have a good year of opportunities next year [for the stock market] due to the corporate earnings," he said.

ING Investment Management projects earnings for companies in emerging markets like the Philippines to rise 30% next year from 22% this year, compared to 36% in 2011 from 12% this year for European companies and 39% in 2011 from 11% this year among US firms. -- N. J. C. Morales


http://www.bworldonline.com/main/content.php?id=22896

:cheers:

^^ 3600-3800 correction in the next quarter?? hmmmm.. i wonder..

if it's accurate.. then right now is a good time to sell???

^^ 3600-3800 correction in the next quarter?? hmmmm.. i wonder..

Whatever the level, the item says, "before the market springs back"! Good to know it will be temporary though.

^^ LOL their forecast is completely opposite of mine!! :D

o well!!

^^ 3600-3800 correction in the next quarter?? hmmmm.. i wonder..

if it's accurate.. then right now is a good time to sell???

funny but actually the way i see things right now is that its coming sooner than later (next quarter). index charts are showing lower lows.

I prefer it to be sooner than later.

Metrobank Stock Rights Offering

Metropolitan Bank & Trust Company (MBT) will be offering additional shares to the public through a 1:9.557 Rights Offering to all stockholders before Ex-date of December 15,2010. The Rights shares are being offered at a price of P50.00 per share.

Each eligible holder of MBT common shares is entitled to subscribe to one (1) right share for every 9.557 Common Shares held
as of the day before Ex-date.

e.g. If you own 1,000 shares before ex-date, you are entitled to subscribe to 104 rights shares.

PCOR and SMC have been doing really well these past few weeks. nakakatempt mag-sell :D

New Philippine money:

Younger looking Quezon on 20 Peso Bill/ Banawe Terraces Obverse:

http://desmond.yfrog.com/Himg616/scaled.php?tn=0&server=616&filename=9mse.jpg&xsize=640&ysize=640

Cory joins Ninoy on 500 Peso Bill:

http://desmond.yfrog.com/Himg611/scaled.php?tn=0&server=611&filename=301r.jpg&xsize=640&ysize=640

Sergio Osmena with the Taal Volcano on 50 Peso Bill:

http://desmond.yfrog.com/Himg615/scaled.php?tn=0&server=615&filename=pfvh.jpg&xsize=640&ysize=640

Roxas with Mayon Volcano and Butanding on 100 Peso bill:

http://desmond.yfrog.com/Himg610/scaled.php?tn=0&server=610&filename=gzsro.jpg&xsize=640&ysize=640


Photos by Willard Cheng

New Philippine money:

Younger looking Quezon on 20 Peso Bill/ Banawe Terraces Obverse:

http://desmond.yfrog.com/Himg616/scaled.php?tn=0&server=616&filename=9mse.jpg&xsize=640&ysize=640

Cory joins Ninoy on 500 Peso Bill:

http://desmond.yfrog.com/Himg611/scaled.php?tn=0&server=611&filename=301r.jpg&xsize=640&ysize=640

Sergio Osmena with the Taal Volcano on 50 Peso Bill:

http://desmond.yfrog.com/Himg615/scaled.php?tn=0&server=615&filename=pfvh.jpg&xsize=640&ysize=640

Roxas with Mayon Volcano and Butanding on 100 Peso bill:

http://desmond.yfrog.com/Himg610/scaled.php?tn=0&server=610&filename=gzsro.jpg&xsize=640&ysize=640


Photos by Willard Cheng

Not sure but it seems the BSP followed the recommendation of feng shui experts about some of our bills with designs that attract "bad luck."

The 500 peso bill for instance is now sporting a happier ninoy and cory and not the sad ninoy aquino.

Had not seen the 1000 peso bill in the photo but the design with 3 people is also not good daw.

Anyway, I like the new designs. Reflect a revitalized Philippine economy.

http://blogs.gmanews.tv/yourvox/wp-content/uploads/2010/12/new500bill.jpg

3 Aquinos on the 500 Pesos Bill: Ninoy, Cory and Noynoy as the signatory. Represents what's wrong with Philippine politics. *dynasty* *coughs*

Pinaliit si Gloria at nilagay sa kanto:

http://blogs.gmanews.tv/yourvox/wp-content/uploads/2010/12/new200bill.jpg

Im proud and excited to use that bank notes

^^are the notes paper or polymer?

^^are the notes paper or polymer?

Been asking that around but no replies yet.

Been asking that around but no replies yet.

They are still using mainly ABACA pulp I guess.

http://www.usnewslasvegas.com/provincial/fprdi-says-even-low-grade-abaca-fiber-is-good-for-currency-paper/

Been asking that around but no replies yet.

Paper yan.Read the debate before if they will use plastic but eventually opted for paper because a good part of the peso note is abaca, a major produce of our farmers.Thailand and Australia ata ang model for the plastic notes.

Anyway, good move for the BSP. This will make our money still made with indigenous materials. By the way, I also read in the papers the BSP just acquired brand new machines so that BSP mint shop in QC can start printing our bills again.

Ironic kasi if we are going to use Php made in other countries (nangyari ito during Arroyo's time). We not only mocking our own capability of producing/printing our own money but also denying our countrymen much needed job and income.

^^^ lets wait and see for ourselves...

Excited na tuloy ako umuwi dyan. Magdadala ako ng pesos dito at ipagyayabang ko. :D

http://blogs.gmanews.tv/yourvox/wp-content/uploads/2010/12/new500bill.jpg

3 Aquinos on the 500 Pesos Bill: Ninoy, Cory and Noynoy as the signatory. Represents what's wrong with Philippine politics. *dynasty* *coughs*


cough cough
Diosdado, Gloria, Mikey, Dado, Luli, FG :cheers:

TV Patrol showed that the new 1000 peso bill looks unchanged compared to the previous version.

ano mga bagong security features ang maasahan natin ???

I like the new logo of the Central Bank...reflects dynamism...

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg

I was surprised to see a new logo when I opened the Bangko Sentral ng Pilipinas (BSP) website yesterday. The new logo is a welcome development that will go well with the new generation banknotes that we expect to see beginning the end of this year.

The new BSP logo is a perfect round shape in blue that features three gold stars and a stylized Philippine eagle rendered in white strokes. These main elements are framed on the left side with the text inscription “Bangko Sentral ng Pilipinas” underscored by a gold line drawn in half circle. The right side remains open, signifying freedom, openness, and readiness of the BSP, as represented by the Philippine eagle, to soar and fly toward its goal. Putting all these elements together is a solid blue background to signify stability.

Principal Elements:

1. The Philippine Eagle, our national bird, is the world’s largest eagle and is a symbol of strength, clear vision and freedom, the qualities we aspire for as a central bank.

2. The three stars represent the three pillars of central banking: price stability, stable banking system, and a safe and reliable payments system. It may also be interpreted as a geographical representation of BSP’s equal concern for the impact of its policies and programs on all Filipinos, whether they are in Luzon, Visayas or Mindanao.

Colors
1. The blue background signifies stability.
2. The stars are rendered in gold to symbolize wisdom, wealth, idealism, and high quality.
3. The white color of the eagle and the text for BSP represents purity, neutrality, and mental clarity.

Font or Type Face
Non-serif, bold for “BANGKO SENTRAL NG PILIPINAS” to suggest solidity, strength, and stability. The use of non-serif fonts characterized by clean lines portrays the no-nonsense professional manner of doing business at the BSP.

Shape
Round shape to symbolize the continuing and unending quest to become an excellent monetary authority committed to improve the quality of life of Filipinos. This round shape is also evocative of our coins, the basic units of our currency.

http://philmoney.blogspot.com/2010/06/new-bsp-logo.html

Excited na tuloy ako umuwi dyan. Magdadala ako ng pesos dito at ipagyayabang ko. :D

me too!
my Canadian co workers think our money is beautiful coz it shows our history with very nice colors... Canadian notes on the other hand is kinda dull and plain without meaning.. LOL

me too!
my Canadian co workers think our money is beautiful coz it shows our history with very nice colors... Canadian notes on the other hand is kinda dull and plain without meaning.. LOL

'coz Canada has not much of an identity due to cultural diversity brought about by massive migration...well....except for the maple leaf, Niagara Falls, or the snowy mountainous backdrop.. i guess. :)

I like the quote "Pinagpala ang bayan na Diyos ang Panginoon" That is taken from Psalm 144:15

me too!
my Canadian co workers think our money is beautiful coz it shows our history with very nice colors... Canadian notes on the other hand is kinda dull and plain without meaning.. LOL

Yup, Philippines peso is my favorite Asian currency as far as design and look are concerned. Para nga syang Euro eh.. :) plus our heroes look spanish..

Yup, Philippines peso is my favorite Asian currency as far as design and look are concerned. Para nga syang Euro eh.. :) plus our heroes look spanish..

Nope. I beg to disagree with qualifications!
Sa tingin ko po sa pino-post dito, mukhang intsik ang mas nakararami sa mukha ng mga heroes na nai-printa! BTW, I need to confirm later when I should have some samples in front of my eyes!

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg

I was surprised to see a new logo when I opened the Bangko Sentral ng Pilipinas (BSP) website yesterday. The new logo is a welcome development that will go well with the new generation banknotes that we expect to see beginning the end of this year.

The new BSP logo is a perfect round shape in blue that features three gold stars and a stylized Philippine eagle rendered in white strokes. These main elements are framed on the left side with the text inscription “Bangko Sentral ng Pilipinas” underscored by a gold line drawn in half circle. The right side remains open, signifying freedom, openness, and readiness of the BSP, as represented by the Philippine eagle, to soar and fly toward its goal. Putting all these elements together is a solid blue background to signify stability.

Principal Elements:

1. The Philippine Eagle, our national bird, is the world’s largest eagle and is a symbol of strength, clear vision and freedom, the qualities we aspire for as a central bank.

2. The three stars represent the three pillars of central banking: price stability, stable banking system, and a safe and reliable payments system. It may also be interpreted as a geographical representation of BSP’s equal concern for the impact of its policies and programs on all Filipinos, whether they are in Luzon, Visayas or Mindanao.

Colors
1. The blue background signifies stability.
2. The stars are rendered in gold to symbolize wisdom, wealth, idealism, and high quality.
3. The white color of the eagle and the text for BSP represents purity, neutrality, and mental clarity.

Font or Type Face
Non-serif, bold for “BANGKO SENTRAL NG PILIPINAS” to suggest solidity, strength, and stability. The use of non-serif fonts characterized by clean lines portrays the no-nonsense professional manner of doing business at the BSP.

Shape
Round shape to symbolize the continuing and unending quest to become an excellent monetary authority committed to improve the quality of life of Filipinos. This round shape is also evocative of our coins, the basic units of our currency.

http://philmoney.blogspot.com/2010/06/new-bsp-logo.html

^^:lol::lol:if i know pina.fengshui naman yng mga bagong bill natin ... hehehe

^^:lol::lol:if i know pina.fengshui naman yng mga bagong bill natin ... hehehe

O/T:
Naniniwala din po ba kayo sa fengshui? Paki fengshui nga kung alin sa PSE ang raratsada next year?

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg



it appears to be somewhat inspired from the EU Central Bank logo.

it appears to be somewhat inspired from the EU Central Bank logo.

Magaling kang pumili ng salita 'dre! "Inspired" as opposed to "copied". Tama naman! Kaya siguro nasabi mo yan dahil sa color na ginamit or what?

^^yes, because of the color and the overall feel of it. i might be wrong though.

EW I'm carrying old currency. Are they going to phase out the old designs?

http://upload.wikimedia.org/wikipedia/en/b/b5/NewPHPBanknotes2010.jpg

since there's a new seal for the BSP, they'll have to replace the coins as well.

^^yes, because of the color and the overall feel of it. i might be wrong though.

The "E" in the European Union Central Bank logo is somehow morphed into an eagle? Is that it? If it is, you're dang right about it. Kulang na lang ng rectangle as base, yon na yon!

EW I'm carrying old currency. Are they going to phase out the old designs?

I guess they will issue a memo when will they demonetize the old ones! In the olden days, that's how they did it.

The "E" in the European Union Central Bank logo is somehow morphed into an eagle? Is that it? If it is, you're dang right about it. Kulang na lang ng rectangle as base, yon na yon!

it could be. and the stars beneath that eagle representing the three regions of the Philippines could be an adaptation of the 12 stars surrounding the letter "E" of the EU Central Bank logo. the same twelve stars which in turn, represent the twelve nations comprising the EU itself.

it appears to be somewhat inspired from the EU Central Bank logo.

Para nga...

http://www.topnews.in/files/European-Central-Bank-Logo.png

I like the quote "Pinagpala ang bayan na Diyos ang Panginoon" That is taken from Psalm 144:15

By all means, I hope this doesn't translate to our decision with curbing our Population.

it could be. and the stars beneath that eagle representing the three regions of the Philippines could be an adaptation of the 12 stars surrounding the letter "E" of the EU Central Bank logo. the same twelve stars which in turn, represent the twelve nations comprising the EU itself.

the Philippine 3 stars existed long before EU was conceived, so how is that "being inspired by the EU"?

EW I'm carrying old currency. Are they going to phase out the old designs?

from gmanews.tv (http://www.gmanews.tv/story/208555/bsp-old-bills-to-remain-in-circulation-for-at-least-3-4-years):

BSP: 'Old' bills to remain in circulation for at least 3-4 years

12/17/2010 | 11:00 AM


Even as it started gradually introducing the new generation of bank notes, the Bangko Sentral ng Pilipinas assured the public Friday that the old bills will remain good for at least three to four years.

In a radio interview, BSP corporate affairs director Fe dela Cruz said the present bills will be gradually phased out and their circulation may last even longer than three to four years, if the public so requests.

"The public should not worry about the value of the present bills. The BSP will have three to four years before deciding whether to nullify the old banknotes or not," she said in Filipino in an interview aired over dwIZ.

If in the end there will be strong clamor to retain the circulation of the old bills, the BSP shall consider requests for retention, she added.

Para nga...

http://www.topnews.in/files/European-Central-Bank-Logo.png

Layo naman.:)

I like the quote "Pinagpala ang bayan na Diyos ang Panginoon" That is taken from Psalm 144:15

I don't know if the use of Psalms 144:15 in our banknotes is illegal, since it appears to be a virtual endorsement of Christianity by the State, which it is not supposed to do under the separation of Church and State clause. I'm inclined to believe that it is.

Separation of Church and State does not mean that the government is prohibited from quoting stuff from the Bible.

Separation of Church and State means that the State is prohibited from endorsing a specific religion.

^^ "Happy is the people whose God is the Lord" certainly excludes Muslims and other non-Christians, which means that the quote can imply a virtual endorsement of Christianity by the State, which it is not supposed to do. Sure, the State can quote, but it should do so while being cognizant of the potential religious overtones that comes with the quotation.

endorsement would be "from this day henceforth, all Filipinos must convert to Christianity, and Roman Catholicism will be the official state religion of the Republic of the Philippines"

^^ Which is why I said "virtual endorsement". :sleepy:

you're reading too much into it

Pampalubag loob daw yan sa simbahang katoliko dahil malapit nang aprubahan ang RH Bill. :lol:

I'm surprised to see that the Peso has depreciated vs. the US Dollar over the last few days. I would have thought that the Christmas remittances would have helped the peso become stronger.

^^ BSP has a lot to do with that..

they already lost around a Billion US $ in doing so.. :)

the Philippine 3 stars existed long before EU was conceived, so how is that "being inspired by the EU"?

^^like i said, "it could be." those are the operative words and a mere speculation. i'm not at all sure about it. we all know that the philippine stars existed long before the eu was realized via our national flag. i'm referring specifically about these stars being utilized in the new BSP logo "could be" (again, mere speculation) a reference to the EU's central bank logo. then again, it might not. mere conjecture/guesswork.

the Philippine 3 stars existed long before EU was conceived, so how is that "being inspired by the EU"?

Because we just changed our logo. The EU Central Bank logo has been there (with 8 stars) and then here comes our own Central Bank logo with the same color, a circle with a center emblem in the form of an eagle, and three stars. There is no rectangular base though.
FWIW, only the Central Bank can tell whether or not they did take a peek on the EU Central Bank logo before doing theirs!

Asian Currencies Decline as Yields Surge in U.S. on Improved Economic Data
By Yumi Teso - Dec 18, 2010 12:39 AM GMT+0300


Business ExchangeBuzz up!DiggPrint Email .Asian currencies had a second weekly loss as the highest U.S. Treasury yields in seven months and improving economic data out of the world’s largest economy damped sentiment toward emerging-market assets.

The difference in yields between 10-year bonds in the Philippines and the U.S. shrank this week to the least in almost three years, according to data compiled by Bloomberg. The corresponding gap for South Korean debt was at the lowest level since April. The number of U.S. workers filing first-time claims for jobless benefits decreased to a three-week low, while housing starts rose 3.9 percent in November from a month earlier, separate government reports showed on Dec. 16.

“The rising U.S. yields means Asia’s higher-yielding assets become less attractive, weighing on regional currencies,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. in Tokyo. “We have seen some good U.S. economic data boosting demand for the dollar as well.”

The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies, dropped 0.5 percent this week to 114.68. The Philippine peso weakened 1.2 percent to 44.23 per dollar, South Korea’s won slid 0.8 percent to 1,152.58 and the Singapore dollar lost 0.4 percent to S$1.3125, according to data compiled by Bloomberg.

The benchmark 10-year yield on U.S. Treasuries touched 3.56 percent on Dec. 16, the highest level since May 13.

‘Unwinding Positions’

The peso had its worst week since the five-day period ended Nov. 12 on speculation overseas investors are paring bets the currency will rise as the central bank regulates the availability of dollars.

Governor Amando Tetangco said on Nov. 9 policy makers will curb excess volatility in the spot market after the peso surged to a two-year high five days earlier. The currency has dropped 2 percent since his statement. The monetary authority typically sells dollars to banks through currency swaps to control the supply of pesos in the financial system.

“There were a lot of foreign players who shorted the dollar and are now unwinding positions as the year comes to an end,” said Antonio Espedido, treasurer at China Banking Corp. in Manila. “The central bank is controlling the supply of dollars and that is why you have this pressure on the peso.”

Bank Levy

The won completed a second consecutive weekly loss after Yonhap Infomax reported that South Korea may impose a bank levy on lenders’ short- and long-term overseas debt. The government may unveil details of the plan on Dec. 19, Deputy Finance Minister Shin Je Yoon said.

“The market view is the levy will be on foreign debt, which could potentially point to tighter dollar liquidity,” Frances Cheung, a Hong Kong-based senior strategist at Credit Agricole CIB, said. “But we believe the market is prepared, given that the plan has been flagged for some time.”

Singapore’s dollar dropped for a second straight week as exports grew at the slowest pace in a year in November. Non-oil domestic exports climbed 10 percent from a year earlier, after a 34.5 percent gain in October, the trade promotion agency said yesterday.

Elsewhere this week, the Indian rupee dropped 0.7 percent to 45.355 per dollar and Thailand’s baht declined 0.2 percent to 30.13. Indonesia’s rupiah slipped 0.1 percent to 9,035, China’s yuan was little changed at 6.6560 per dollar and Malaysia’s ringgit was steady at 3.1350. Taiwan’s dollar added 0.3 percent to NT$30.51.

http://www.bloomberg.com/news/2010-12-17/asian-currencies-complete-weekly-loss-as-yields-surge-in-u-s-.html

as far as im concerned..inspired or not inspired..i like the new BSP logo!

i guess the graphic designer of that EU logo got his idea too from another logo when he was a student.

so, as you can see people i think it is just a cycle!

very nice!!

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg

Im getting sick of this "overstretch" "analysis" of the new Philippine peso.

Anyway, Asian countries definitely love this situation...


Asian Currencies Decline as Yields Surge in U.S. on Improved Economic Data
By Yumi Teso - Dec 18, 2010 12:39 AM GMT+0300


Business ExchangeBuzz up!DiggPrint Email .Asian currencies had a second weekly loss as the highest U.S. Treasury yields in seven months and improving economic data out of the world’s largest economy damped sentiment toward emerging-market assets.

The difference in yields between 10-year bonds in the Philippines and the U.S. shrank this week to the least in almost three years, according to data compiled by Bloomberg. The corresponding gap for South Korean debt was at the lowest level since April. The number of U.S. workers filing first-time claims for jobless benefits decreased to a three-week low, while housing starts rose 3.9 percent in November from a month earlier, separate government reports showed on Dec. 16.

“The rising U.S. yields means Asia’s higher-yielding assets become less attractive, weighing on regional currencies,” said Tsutomu Soma, a bond and currency dealer at Okasan Securities Co. in Tokyo. “We have seen some good U.S. economic data boosting demand for the dollar as well.”

The Bloomberg-JPMorgan Asia Dollar Index, which tracks the region’s 10 most-active currencies, dropped 0.5 percent this week to 114.68. The Philippine peso weakened 1.2 percent to 44.23 per dollar, South Korea’s won slid 0.8 percent to 1,152.58 and the Singapore dollar lost 0.4 percent to S$1.3125, according to data compiled by Bloomberg.

The benchmark 10-year yield on U.S. Treasuries touched 3.56 percent on Dec. 16, the highest level since May 13.

‘Unwinding Positions’

The peso had its worst week since the five-day period ended Nov. 12 on speculation overseas investors are paring bets the currency will rise as the central bank regulates the availability of dollars.

Governor Amando Tetangco said on Nov. 9 policy makers will curb excess volatility in the spot market after the peso surged to a two-year high five days earlier. The currency has dropped 2 percent since his statement. The monetary authority typically sells dollars to banks through currency swaps to control the supply of pesos in the financial system.

“There were a lot of foreign players who shorted the dollar and are now unwinding positions as the year comes to an end,” said Antonio Espedido, treasurer at China Banking Corp. in Manila. “The central bank is controlling the supply of dollars and that is why you have this pressure on the peso.”

Bank Levy

The won completed a second consecutive weekly loss after Yonhap Infomax reported that South Korea may impose a bank levy on lenders’ short- and long-term overseas debt. The government may unveil details of the plan on Dec. 19, Deputy Finance Minister Shin Je Yoon said.

“The market view is the levy will be on foreign debt, which could potentially point to tighter dollar liquidity,” Frances Cheung, a Hong Kong-based senior strategist at Credit Agricole CIB, said. “But we believe the market is prepared, given that the plan has been flagged for some time.”

Singapore’s dollar dropped for a second straight week as exports grew at the slowest pace in a year in November. Non-oil domestic exports climbed 10 percent from a year earlier, after a 34.5 percent gain in October, the trade promotion agency said yesterday.

Elsewhere this week, the Indian rupee dropped 0.7 percent to 45.355 per dollar and Thailand’s baht declined 0.2 percent to 30.13. Indonesia’s rupiah slipped 0.1 percent to 9,035, China’s yuan was little changed at 6.6560 per dollar and Malaysia’s ringgit was steady at 3.1350. Taiwan’s dollar added 0.3 percent to NT$30.51.

http://www.bloomberg.com/news/2010-12-17/asian-currencies-complete-weekly-loss-as-yields-surge-in-u-s-.html

as far as im concerned..inspired or not inspired..i like the new BSP logo!

i guess the graphic designer of that EU logo got his idea too from another logo when he was a student.

so, as you can see people i think it is just a cycle!

very nice!!

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg


ako naman mas gusto ko yung dati.

http://wowlegazpi.com/wp-content/uploads/2010/03/Bangko_Sentral_ng_Pilipinas.jpg

image taken from wow legazpi website (http://wowlegazpi.com/wp-content/uploads/2010/03/Bangko_Sentral_ng_Pilipinas.jpg)

the logo is just 17 years.

^^Ayan, compare na naman tayo sa logo ng EU at BSP :ohno:

Pero, mas maganda naman ang sa atin 'no....:cheers::banana:

na insecure ba sa EU logo? lol

^^IMO parang carbon copied ang bagong logo ng BSP...... similarly to EU logo ....

yung logo kung pagaganahin mo ang imahinasyon mo, parang walrus o seal mula dun sa ideya na tuka ng agila. nagkaroon nga lang ng dalawang mahabang ipen o pangil :D
pero parang leon o tigre na may dila :)

Because we just changed our logo. The EU Central Bank logo has been there (with 8 stars) and then here comes our own Central Bank logo with the same color, a circle with a center emblem in the form of an eagle, and three stars. There is no rectangular base though.
FWIW, only the Central Bank can tell whether or not they did take a peek on the EU Central Bank logo before doing theirs!

Euro lang ba ang may circle na logo at blue ang kulay?

are you sure that they copied that from the EU?

cough cough
Diosdado, Gloria, Mikey, Dado, Luli, FG :cheers:

Uy, Luli in fairness career diplomat yan, kumuha yan ng FSO. And si tatay and anak lang nasa pera. 2 vs 3. hehe


I like the quote "Pinagpala ang bayan na Diyos ang Panginoon" That is taken from Psalm 144:15


Hate it. No religious sayings should be on our money.

And I prefer the new logo of BSP tho, kopya man or inspired. The old one looked boring.

Euro lang ba ang may circle na logo at blue ang kulay?

are you sure that they copied that from the EU?

And in this case, your post haunts you! Hehehe
As you said earlier, "you're reading too much into it "(your post last December 17th). I never mentioned "copied", did I?

And if you missed reading my post, I said; "FWIW, only the Central Bank can tell whether or not they did take a peek on the EU Central Bank logo before doing theirs!
It ain't hard to understand, no reading between the lines needed. Crystal!

Uy, Luli in fairness career diplomat yan, kumuha yan ng FSO. And si tatay and anak lang nasa pera. 2 vs 3. hehe

.

yeah, im sure she passed the FSO exams without any help :lol:

And in this case, your post haunts you! Hehehe
As you said earlier, "you're reading too much into it "(your post last December 17th). I never mentioned "copied", did I?

And if you missed reading my post, I said; "FWIW, only the Central Bank can tell whether or not they did take a peek on the EU Central Bank logo before doing theirs!
It ain't hard to understand, no reading between the lines needed. Crystal!

actually i was referring to the religious quote. why would it haunt me?

yeah, im sure she passed the FSO exams without any help :lol:

I believe so. She actually passed her FSO way before GMA became President and she even had to delay her appointment for over a year after GMA became President because she did not want any gossip about her. I've seen Luli personally sa NAIA, and she's very simple, nakatsinelas lang. I saw her arrive from a Continental flight. Kung wala pa may nagsabi sa akin, I wouldnt have noticed. And she queues ha. Hindi sya paVIP.

BSP chief says no to capital controls



By Lawrence Aqcaoili
(The Philippine Star)
Updated December 20, 2010



MANILA Philippines - The Bangko Sentral ng Pilipinas (BSP) reiterated that there are no plans to impose capital controls as more central banks in emerging markets continued to consider constricting inflows to keep their currencies from appreciating.

BSP Governor Amando M. Tetangco Jr., however, said there is no need at this point to impose capital controls as the “toolkit” of monetary authorities is enough to address the surge in capital inflows from advanced countries like the US and Europe to emerging market economies including the Philippines.

“At this point in time we don’t see a need to impose capital controls and the toolkit that we are using has proven to be efficient at this point,” Tetangco stressed.

The elements of the BSP’s “enhanced toolkit” include the buidling of gross international reserves (GIR), the appreciation of the peso against the US dollar, the prepayment of the country’s foreign debt, and the third wave of reforms in the foreign exchange regulatory framework.

A string of countries have edged towards imposing capital controls to douse cold water on “hot money.” In fact, Brazil has imposed a two-percent tax on short-term capital as excessive capital inflows could put pressure on stable inflation and domestic liquidity.

In the case of the Philippines, he pointed out that inflation is expected to remain manageable over the near term. The BSP has set an inflation target of 3.5 percent to 5.5 percent this year and three percent to five percent between 2011 and 2014. It sees inflation averaging 3.63 percent this year and 2.35 percent next year due to the continued strengthening of the peso against the US dollar.

Latest data from the National Statistics Office (NSO) showed that inflation averaged to 3.8 percent in the first 11 months of the year from 3.2 percent in the same period last year. Inflation inched up to 3.0 percent in November from 2.8 percent in October due to more expensive power and petroleum products as well as the slight uptick in food prices.

However, Tetangco said the BSP would remain vigilant to act or recalibrate its monetary tools if there is a need to control the surge in capital inflows.

“As I said we will need to continue to assess the situation to see if there is a need to recalibrate various elements in the toolkit,” he added.

The BSP chief said central banks in the region have agreed to exchange information on how to deal with the rise in capital inflows into emerging markets that continue to fuel global growth amid the major economic slowdown in advanced economies.

“We have agreed to exchange information on our own experiences. This exchange has revealed that we are facing signal issues including the increase in capital inflows and these discusiions show that the response of the central banks have not been very different,” he explained.

According to him, central banks in the region have used enhanced toolkits and certain measures meant to slow down the inflow of capital as their currencies appreciated while their GIR increased.

“At this stage my own view is that the central banks have been able to respond adequately to the challenges brought about by the capital inflows at the same time we need to ask if there will be further inflows and if there is going to be an intensification of the inflows,” he said.

The country’s GIR hit a new record level of $61.3 billion as of end-November while the balance of payments (BOP) surplus also reached an all-time high of $9.3 billion as of end-October.

Latest data showed that the country’s foreign portfolio investments or “hot money” hit a new record level of $4.18 billion as of end-November or almost 10 times the net inflow of $431.4 million in the same period last year as capital flows contiued to flood emerging markets.

The amount of foreign portfolio investments in the first 11 months exceeds the full year target of $2.9 billion set by the monetary authorities. These investments are also called hot money because they could be taken out of the country as quickly as they come in.

Data showed that inflows almost doubled to $11.8 billion from January to November this year compared to $5.95 billion in the same period last year due to the sharp increase in investments in shares of stocks listed at the Philippine Stock Exchange (PSE) that help catapult the PSE index to a record level.

Investments in PSE-listed shares jumped 71 percent to $7.7 billion in the first 11 months of the year from $4.5 billion in the same period last year.

Major beneficiaries of the strong capital inflows included banks with $1.5 billion, property developers with $1.38 billion, holding firms with $1.36 billion, , telecommunications companies with $1.2 billion, and utility firms with $942 million. On the other hand, major sources of foreign portfolio investments include the US, the United Kingdom, Singapore, Luxembourg, and Hong Kong.

GSIS allots P909 million for cash dividends



By Iris C. Gonzales
(The Philippine Star)
Updated December 20, 2010


MANILA, Philippines – The Government Service Insurance System (GSIS) has allotted P908.96 million for cash dividends to eligible members.

The agency said this followed a surplus in revenues derived from its Social Insurance Fund and Optional Life Insurance Fund.

Of the total amount, P828 million annual cash dividends will go to Compulsory Life Insurance policyholders and P80.96 million to Optional Life Insurance policyholders.

Compulsory Life Insurance policyholders under the Life Endowment Policy (LEP) or Enhanced Life Policy (ELP) entitled to the cash dividends are all active members, including members of the Judiciary and Constitutional Offices, whose life insurance coverage have been in force for at least one year as of Dec. 31, 2009.

According to GSIS, active members whose Life Endowment Policy matured after Dec. 31, 2009 but either renewed or converted to the Enhanced Life Policy shall also be entitled to cash dividends based on their previous LEP.

On the other hand, GSIS said Compulsory Life Insurance policyholders, however, would be unable to receive their cash dividends if they have defaulted on their payments for at least 12 months; have unpaid premiums for at least 12 months; if they have lapsed policies in 2009; have terminated policies due to death, retirement and separation and if their agencies have been suspended as of Dec. 31, 2009.

Optional Life Insurance policyholders who are entitled to the annual cash dividend include those whose optional life insurance coverage has been in force for at least one year as of December 31 2009, the GSIS said.

“Those who are disqualified, include policyholders whose policies have lapsed in calendar year 2009, or have been terminated due to death, maturity or surrender, also in 2009.

The dividends will be paid through the members’ GSIS eCard by 21 December 2010. Our stakeholders can be assured that we will continue to prudently manage our assets in order to give our members and pensioners additional benefits and meet our obligations to them as they fall due,” GSIS president and general manager Robert Vergara said yesterday.

Market to consolidate further this week



By Zinnia B. Dela Peña
(The Philippine Star)
Updated December 20, 2010


MANILA, Philippines – The local stock market may remain volatile and is likely to consolidate in the range of 4,000 to 4,255 as investors continue to be mindful about Europe’s debt crisis.

Last week, the Philippine Stock Exchange index plunged 1.9 percent or 78 points to close at 4,057.33 on lingering concerns over Europe’s sovereign debt problems as well as the absence of fresh leads.

“The PSEi may still need to find a firm ground to base a positive move. So far, foreign factors and lack of local interest are hindering the index to stage an aggressive move,” said Maria Arlysa E. Narciso of AB Capital Securities.

“If nothing exciting comes out next week, then investors will continue to look elsewhere for leads. As mentioned earlier, US monetary policy and Europe’s debt troubles will continue to be the driving factor for most markets,” Narciso added.

Moody’s warning may lower Spain’s credit rating put Europe’s debt crisis back to the forefront of investors’ concerns. Rival agency Standard & Poor’s likewise issued a similar warning, sending investors to sidelines.

Another issue that could undermine investor confidence is China’s tightening of monetary policy.

“Although China has kept interest rates steady, its central planners’ stated commitment to move towards a tighter stance next year raises some concerns. China has been leading global recoveries providing a much needed market for exporting countries goods and services. A tightening may slow such demand and unless the economies of the West and the developed world begin to show a return to normalcy, growth may be dragged,” said Accord Capital Equities Inc.’s Jun Calaycay his weekly market report.

Calaycay said corporate window dressing will provide a kick to equity prices in the final two weeks of trades.

Hate it. No religious sayings should be on our money.

Again, to me, it sounds like a virtual endorsement of Christianity by the State on our currency. "Happy is the people whose God is the Lord" definitely reeks of religious favoritism in a multicultural, multi-religious society.

How exactly am I reading too much into it if it obviously came from the Bible, out of all places?

let's get back to topic guys!

i see next year to be very boring for the Stock market, well except for the end of first quarter where I believe the market will make a big rebound.

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg I love it! ajejeje... :D :D :D
I don't know if the use of Psalms 144:15 in our banknotes is illegal, since it appears to be a virtual endorsement of Christianity by the State, which it is not supposed to do under the separation of Church and State clause. I'm inclined to believe that it is. O kita mo yan, Sky? Bida ang colour of the sky, the sea and the colour of royalty = blue!!! ajejeje... :lol: ganda ng pagkagawa ng eagle... we should capitalize on that raptor at every opportunity since it is the biggest eagle in the world. Mabuhay ang blue eagle!!! :cheer:

yes i agree..

http://2.bp.blogspot.com/_nED8cszYok4/TBmwMd9pWpI/AAAAAAAAH80/8r3MzXRhRMY/s400/bsp-logonew.jpg

look at the our bird again, it looks mean! lol!

Again, to me, it sounds like a virtual endorsement of Christianity by the State on our currency. "Happy is the people whose God is the Lord" definitely reeks of religious favoritism in a multicultural, multi-religious society.

How exactly am I reading too much into it if it obviously came from the Bible, out of all places?

maybe you should petition the BSP to quote an atheist or a Satanist next time, para balance :cheers:

bakit pinag aawayan ang logo ng bsp dito??? wew. wla na tayong magagawa jan.., move on pls..,

ang mga critics kasi, wala na magawa kung di mantuligsa.

pati logo, pinag iinitan. kasi naman, wala na na iba maipintas. pati BSP log.

para sa akin, maganda naman. except for the color na hawig ng konti sa EU, wala na element na pareha. ang ganda pala ng philippine eagle design.

sana even with the BSP logo featuring the philippine eagle, mas maganda pa rin kung may image talaga ng philippine eagle in one of the bank notes. mas astig kung sa 100 peso bill nilagay. kasi yun naman yung pinakacommon at pinakagamit. mukha pa lang, the philippine eagle already looks commanding. kung ipapakita pa pati yung wingspan parang invincible na ang dating.

butanding is a major phil tourist attraction pero hindi naman yun endemic sa pilipinas. pero siya talaga main feature ng 100 peso bill. pati yung palm civet sinali din common din yun in other parts of the world eh..sakin lang ha, mas deserving sina tamaraw, mouse deer, pandaca pygmaea, palawan peacock...at least ang mge eto totoong sa pilipinas mo lang talaga makikita..

anyway, maganda naman yung designs..sa wildlife features lang nasasayangan.

maybe you should petition the BSP to quote an atheist or a Satanist next time, para balance :cheers:

Here's a better idea: don't quote at all.

sana even with the BSP logo featuring the philippine eagle, mas maganda pa rin kung may image talaga ng philippine eagle in one of the bank notes. mas astig kung sa 100 peso bill nilagay. kasi yun naman yung pinakacommon at pinakagamit. mukha pa lang, the philippine eagle already looks commanding. kung ipapakita pa pati yung wingspan parang invincible na ang dating.

butanding is a major phil tourist attraction pero hindi naman yun endemic sa pilipinas. pero siya talaga main feature ng 100 peso bill. pati yung palm civet sinali din common din yun in other parts of the world eh..sakin lang ha, mas deserving sina tamaraw, mouse deer, pandaca pygmaea, palawan peacock...at least ang mge eto totoong sa pilipinas mo lang talaga makikita..

anyway, maganda naman yung designs..sa wildlife features lang nasasayangan.

baka sa 1 piso coin nila ilagay ang eagle. :) ano kaya itsura ng bagong design ng mga coins?

bakit pinag aawayan ang logo ng bsp dito??? wew. wla na tayong magagawa jan.., move on pls..,

yes please..

sana even with the BSP logo featuring the philippine eagle, mas maganda pa rin kung may image talaga ng philippine eagle in one of the bank notes. mas astig kung sa 100 peso bill nilagay. kasi yun naman yung pinakacommon at pinakagamit. mukha pa lang, the philippine eagle already looks commanding. kung ipapakita pa pati yung wingspan parang invincible na ang dating.

butanding is a major phil tourist attraction pero hindi naman yun endemic sa pilipinas. pero siya talaga main feature ng 100 peso bill. pati yung palm civet sinali din common din yun in other parts of the world eh..sakin lang ha, mas deserving sina tamaraw, mouse deer, pandaca pygmaea, palawan peacock...at least ang mge eto totoong sa pilipinas mo lang talaga makikita..

anyway, maganda naman yung designs..sa wildlife features lang nasasayangan.


agree..it is sad that these animals were not in our peso bills.. but anyways. its already made..let's move on.

i dont know which other medium where these endemic animals can be featured so that filipinos are aware of their existence...

i admit the only time i had a chance to see the palawan deer was in san diego zoo pa last year during a vacation there. before that, i did not know that such animal still existed in our land sa palawan.

Here's the important bit: By this broad measure, the Philippines was the best-performing equity market in the world this year, returning 58% as of Dec. 24

http://www.dailyfinance.com/story/streetwise/best-and-worst-global-stock-markets-of-2010/19777184/

Here's the important bit: By this broad measure, the Philippines was the best-performing equity market in the world this year, returning 58% as of Dec. 24

http://www.dailyfinance.com/story/streetwise/best-and-worst-global-stock-markets-of-2010/19777184/

Best and Worst Global Stock Markets of 2010

DailyFinance Mobile Posted 12:04 PM 12/29/10



http://www.blogcdn.com/www.dailyfinance.com/media/2009/11/stocks1.jpgAmerican markets are poised to end 2010 with pretty remarkable returns considering how bleak things looked as recently as September. Add in dividends, factor out inflation, and U.S. stocks, broadly speaking, were a good place to invest in 2010. Indeed, one of the broadest measures of U.S. equity performance, the S&P U.S. Broad Market Index, is on track to post a total return of 17% in 2010.

The bullish and bearish forces acting on stocks here at home all year come into even sharper relief when we look at the best- and worst-performing stock markets in the world for 2010. Anything tied to China, the driver of the global recovery with its insatiable demand for commodities, outperformed. Meanwhile, the eurozone debt crisis crushed equities across the Continent and beyond.

Philippines First, Greece Worst

Emerging economies in close proximity to China took three of the top five spots in 2010, according to S&P BMI Global Indexes. By this broad measure, the Philippines was the best-performing equity market in the world this year, returning 58% as of Dec. 24. Thailand and Malaysia likewise benefited from their satellite positions to China. Meanwhile, stocks in the Pacific Rim countries of Peru and Chile soared on record-high prices for gold, silver, copper and other commodities (see chart below).

http://www.blogcdn.com/www.dailyfinance.com/media/2010/12/best-chart.jpg

On the other side of the ledger, the worst markets were the stars of the European debt crisis. Four of the five members of the so-called PIIGS of Europe -- Portugal, Italy, Greece and Spain -- hosted the worst performing equity markets of 2010. Hungary, which had been cooking its books a la Greece, nudged Ireland (the fifth member of the PIIGS), out of the top five. Ireland's stock market, for the record, posted a loss of 8.3% as of Dec. 24, according to S&P (see chart below).

http://www.blogcdn.com/www.dailyfinance.com/media/2010/12/worst-chart.jpg

Filed under: Investing, Market News, Streetwise

Best and Worst Global Stock Markets of 2010 originally appeared on DailyFinance on Wed, 29 Dec 2010 12:00:00 EST. Please see our terms for use of feeds.

Here's a better idea: don't quote at all.

why not

Here's the important bit: By this broad measure, the Philippines was the best-performing equity market in the world this year, returning 58% as of Dec. 24

http://www.dailyfinance.com/story/streetwise/best-and-worst-global-stock-markets-of-2010/19777184/

time to do our homework again and see what stocks to buy, hold on to, and sell for the coming year. since the performance for this year would not likely be duplicated for the coming year, a soft settling down would be better than a stark contrast of a huge fall. it's a good, no, great year!:)


--------------

OT:

somehow, i blame myself for the passive diversion on how i observed/perceived the "supposed" inspiration of the new BSP logo design. it opened a kind of Pandora's Box of strong emotions on both sides of opposing camps! my apologies folks!:D

Philippine stocks surge 38% in 2010
MANILA, Philippines - The local stock market posted a banner year in 2010, with the key index surging 37.6%.

As of December 30, the last trading day of the year, the Philippine Stock Exchange index (PSEi), the barometer of overall stock market performance, was up by 1,148.46 points to end at 4,201.14.

PSE Chairman Hans Sicat said strong macroeconomic fundamentals on the domestic front, as well as economic recovery overseas, boosted investor sentiment this year.

"From a sluggish 2009, gross domestic product grew by 7.5% during the first 3 quarters of 2010, on account of the robust performances of the industry and services sectors. Inflation and interest rates continue to be benign. These factors have largely buoyed stock market sentiment and reinforced investor and business confidence," he said.

"Many of the developed, Western economies were showing signs of economic recovery despite the threat of some European nations' bankruptcies. Overall, the major global stock markets were on an uptick this year, improving capital market conditions," he added.

Total value turnover for 2010 reached P1.21 trillion, 29.8% higher than the P930.4 billion registered in 2009. The combined market capitalization of listed issues in the PSE rose by 47.1% to P8.87 trillion compared with P6.03 trillion in 2009.

Preliminary figures also show that foreign investors went into net buying territory in 2010 at P35.6 billion, higher than last year's P14.9 billion.

Total capital raised this year was P84.9 billion, largely from the initial public offerings of Cebu Air Inc., Nickel Asia and IP Converge Data Center Inc., and the stock rights offerings of First Gen Corp., SM Development Corp. and Bank of the Philippine Islands. This was an improvement over the P38.8 billion raised in 2009.

In terms of sectoral indices, the holding firms index emerged as the best performer in 2010 as it climbed by 110.28% from 2009. This was followed by the Industrial index, with 56% growth.

"As we enter a new chapter in 2011, we remain bullish that the initiatives and reforms we have started will enhance the growth of the capital markets," Sicat said.

Last July 26, 2010, the PSE rolled out a new trading system that is designed to trade a wide range of cash, debt and derivative instruments as well as improve the capacity of the PSE to handle any future sharp increases in its value turnover. The new trading system was developed by the New York Stock Exchange Technologies.

The PSE also completed the transfer of its principal office to Makati City, the financial district of the country, through an office integration project that aimed to increase the efficiency of resources and reduce costs in order to enhance shareholder value.

The PSE board has also approved the spin-off of the exchange's market regulation division into an independent and self-regulatory company to monitor activities of trading participants.http://www.abs-cbnnews.com/business/12/30/10/philippine-stocks-surge-38-2010

[QUOTE=eonynx;69735231]time to do our homework again and see what stocks to buy, hold on to, and sell for the coming year. since the performance for this year would not likely be duplicated for the coming year, a soft settling down would be better than a stark contrast of a huge fall. it a good, no, great year!:)


--------------

US stocks are back to pre-2008 levels and we've just had 58% gains this year in the Phils. If you're a buyer, European stocks are the way to go now since there are lots of good companies that have been battered by the bad news out of Europe. I'd be a bit more cautious trading in the Phils next year, although I am holding on to some positions.

ang mga critics kasi, wala na magawa kung di mantuligsa.

pati logo, pinag iinitan. kasi naman, wala na na iba maipintas. pati BSP log.

para sa akin, maganda naman. except for the color na hawig ng konti sa EU, wala na element na pareha. ang ganda pala ng philippine eagle design.

Its like showbiz. You talk abut extensively about the dress wore by actresses. Its not amusing anymore.

sana even with the BSP logo featuring the philippine eagle, mas maganda pa rin kung may image talaga ng philippine eagle in one of the bank notes. mas astig kung sa 100 peso bill nilagay. kasi yun naman yung pinakacommon at pinakagamit. mukha pa lang, the philippine eagle already looks commanding. kung ipapakita pa pati yung wingspan parang invincible na ang dating.

butanding is a major phil tourist attraction pero hindi naman yun endemic sa pilipinas. pero siya talaga main feature ng 100 peso bill. pati yung palm civet sinali din common din yun in other parts of the world eh..sakin lang ha, mas deserving sina tamaraw, mouse deer, pandaca pygmaea, palawan peacock...at least ang mge eto totoong sa pilipinas mo lang talaga makikita..

anyway, maganda naman yung designs..sa wildlife features lang nasasayangan.

Hindi pa rin tapos ang usapa tungkol sa design ng pera natin? Pardon me pero masyado nang gasgas usapan naito. wala na bang iba?

Here's the important bit: By this broad measure, the Philippines was the best-performing equity market in the world this year, returning 58% as of Dec. 24

http://www.dailyfinance.com/story/streetwise/best-and-worst-global-stock-markets-of-2010/19777184/

Finally, good and real news.

Not about peso "showbiz like intrigues" again.Pati tungkol sa pera natin pinakialaman na naman ng mga paparazzi dito.

thats good and really real..., ^^
-a great ending for a hustle year..,! 2011!

US stocks are back to pre-2008 levels and we've just had 58% gains this year in the Phils. If you're a buyer, European stocks are the way to go now since there are lots of good companies that have been battered by the bad news out of Europe. I'd be a bit more cautious trading in the Phils next year, although I am holding on to some positions.

thanks for giving me the idea about the potential of euro stocks, especially in the long position. the negative domino effect of the Greek sovereign debt in the performance of many EU companies would appear to benefit those hot money investors after all. all these, notwithstanding of course, the red performance of the companies themselves that have little dependence on external or exogenous factors.

for Philippine stocks, i guess, i have to expect some directions heading south and would have to plan some hedging strategies for them, especially, if the final decision is to hold on to some in the portfolio. fingers crossed! thanks again!

Philippine stocks surge 38% in 2010
http://www.abs-cbnnews.com/business/12/30/10/philippine-stocks-surge-38-2010

Here's the important bit: By this broad measure, the Philippines was the best-performing equity market in the world this year, returning 58% as of Dec. 24

http://www.dailyfinance.com/story/streetwise/best-and-worst-global-stock-markets-of-2010/19777184/

Which is which, 58% or 38%?

^^58% refers to return on investments (equity), market wise, in which case the PSE was the best performer globally. i'm not sure about that 38% thing. it may refer to either the index performance or the market/book value in comparison to the 2009 levels. i could be wrong though.

Indonesia beats us in the stock market performance.
The Philippine stock market rose by 38% compared to Indonesia's (Jakarta/ JKSE) 44% rise through 2010.

Philippine peso among top currency picks in '11
ANN - Wednesday, January 12

Manila (Philippine Daily Inquirer/ANN) - American investment bank Merrill Lynch has picked the Philippine peso as among its two currency favorites this 2011, saying the local currency was undervalued by about 10-15 percent given the strength of the country's external surplus.

Visiting Merrill Lynch foreign-exchange strategist Ashok Bhundia told reporters Monday (January 10) that the peso and the Singapore dollar were among his firm's top currency picks for this year.

"The peso, we believe, is mainly being supported by remittance inflows, which remain very strong. The growth dynamics is getting structural boost from a reform-minded government and if expectations prove right, we should see the fiscal position improve structurally," Bhundia said.

Based on a statistical model used by Merrill Lynch in estimating the sustainable level of current account, Bhundia said the country's surplus was "a little too large." As such, he said the local currency would need to appreciate to attain an equilibrium, thereby explaining the perceived undervaluation of the peso.

However, he said external jitters would likely bring the local currency under pressure in the second quarter. In particular, risk aversion from the lingering fiscal crisis in Europe is seen bringing the local currency to 43.50 against the US dollar by June from around 42:$1 by March this year.

But the currency upswing is seen resuming in the second half, bringing the peso to 42 by September and further to 40 against the greenback by end-2011.

Another factor that would underpin the strength of the peso and other Asian currencies, he added, would be the likelihood that China would allow the renminbi to appreciate.

The Philippines is also seen as among the few countries where the risk of resorting to capital controls was very low given recent pronouncements from the Central Bank (BSP) rejecting such an idea.

What the BSP had instead done, Bhundia said, was to stop rolling over maturing foreign-exchange currency swaps, which had the effect of squeezing peso liquidity by shutting down onshore borrowing rates in peso. But he said this was a very "technical" response that could not likely be sustained going forward.

"We don't think central banks will lean against appreciation. What they will lean against is too rapid appreciation," he said.

http://ph.news.yahoo.com/ann/20110111/tph-philippine-peso-among-top-currency-p-fb8bb4f.html

Here's a better idea: don't quote at all.

Kung magquote sila, eto na lang:

"EoW Pfho3zz"

^^ haha

this thread is boring nowadays.. not much any exciting happening.

SMP was like P57/share last Dec 30...kahapon it went up to P1,265/share. shocking...sana ang mga bumili ay makatulog ng mahimbing mamaya...lols

SMP was like P57/share last Dec 30...kahapon it went up to P1,265/share. shocking...sana ang mga bumili ay makatulog ng mahimbing mamaya...lols

SMP?

San Miguel Properties

13-Jan-2011 1,001.00
12-Jan-2011 1,000.00
11-Jan-2011 840.00
10-Jan-2011 562.00
07-Jan-2011 375.00
06-Jan-2011 292.20
05-Jan-2011 194.80
04-Jan-2011 129.90
03-Jan-2011 86.60
30-Dec-2010 57.75

^^ tangna sana yan na lang pala ang binili kong stock instead of SMDC. ano bang meron at ang bilis ng arangkada nyan?

That sort of rise without any other news sounds like some manipulation is going on. Still have to be reminded that there's a lot of hanky panky going on in our market... Thats why I only trade in a couple of companies over these years.

http://www.malaya.com.ph/jan12/busi9.html

Here's a quote

San Miguel Properties Inc. shares closed yesterday at P843.50, a 50 percent surge from the Monday’s P562.50 closing.

This brought the company’s share price appreciation to 2,000 percent in the last eight sessions of the market since December 30.

The last time San Miguel Properties shares were trading actively was in 2007 at P38.50 a share.

Company officials claimed no knowledge of any information that could have boosted the stock.

not sure if PSE does this, but some stock markets would suspend trading if a stock price moves +/- a certain percentage within a trading day...

Interesting lang.


http://upload.wikimedia.org/wikipedia/en/3/31/Melchora100pesos.jpg

Natahimik na ba ang brouhaha sa new bank notes? :)

^^ tangna sana yan na lang pala ang binili kong stock instead of SMDC. ano bang meron at ang bilis ng arangkada nyan?

lols yeah, around 8 pesos lang din ata ang SMP early december. it's back to around P800/share yata last friday but still...that's a lot of profit $$$$$ kaching! SEC has actually asked San Miguel Prop to explain and they denied any manipulation. naman, sinong aamin? lols

swerte talaga ng mga nakabili at binenta agad at jan 12's or was it 13's intra-day high of around P1,265.

I smell insider trading and manipulation. No news or earnings announcement from the company but it increased ~2000%

PH debt burden rises to P4.68T

By Ronnel Domingo
Philippine Daily Inquirer
First Posted 21:09:00 01/14/2011

Filed Under: Government Debt

MANILA, Philippines—The government’s debt burden grew to P4.68 trillion as of October 2010, increasing by P15.3 billion, or 0.3 percent, from the September level mainly due to new debts being incurred compared to old ones being paid out, the Bureau of the Treasury said.

With the population estimated at 94.01 million in 2010, the amount of total outstanding debt would mean that each citizen had a share of P49,777.

Treasury documents on the total outstanding debt showed that 57.6 percent, or P2.7 trillion, was borrowed from domestic lenders.

Local debt was almost unchanged, decreasing by P1.1 billion from P2.7 trillion posted in September. The decrease was due to the government paying out more government securities than what was issued.

On the other hand, 42.4 percent, or P1.98 trillion, of the total outstanding debt was booked in foreign currencies such as the US dollar, euro and yen, which the Treasury referred to as “third” currencies.

Aside from loans extended by multilateral lenders and official aid from foreign governments, the Philippines also borrows internationally through the issuance of bonds denominated in these currencies.

Foreign borrowings increased by P16 billion, or 0.8 percent, from the P1.97 trillion owed to overseas lenders in September.

The increase in foreign debt was attributed mainly to the net availment of loans worth P32 billion.

The rise in foreign borrowings was also driven by the appreciation of the yen and the euro against the dollar, which added P20 billion to the debt stock.

However, the increase was partially offset by the appreciation of the peso against the dollar, which deducted P36 billion from the debt burden.

In October, government debt paper denominated in dollars amounted to an equivalent of P1 trillion while yen and euro loans stood at P79.8 billion and P30 billion, respectively.

The government has also chalked up P44.1 billion in debt through peso-denominated, globally issued bonds.

The government’s total contingent debt—composed mainly of sovereign guarantees—went down by P1.5 billion, or 0.3 percent, to P559.2 billion.