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US stock futures fall after Asia rally fizzles

U.S. stock futures dropped after an early equity rally petered out in Asia, where volume was low as many markets across the world remain closed for the Easter holiday. The dollar edged lower and Treasury yields increased.
American shares look set to start April on the back foot after the S&P 500 Index and Dow Jones Industrial Average posted their first quarterly losses since 2015. Futures contracts for the Nasdaq 100 fell again after President Donald Trump renewed his criticism of Amazon.com Inc. over the weekend, this time tweeting that the online giant “must pay real costs (and taxes) now!” A measure of volatility rose from Friday.
Equities in Japan, China and South Korea declined during late Monday trading, reversing an earlier advance. The yen was steady as traders digested a poll showing improved support for Prime Minister Shinzo Abe’s cabinet. The South Korean won rose to its strongest against the dollar in over three years as tensions in the region showed further signs of easing. The euro was little changed and the pound pushed higher.
Investors are entering the second quarter defensively after the worst three months for global stocks in more than two years. February and March were characterized by a surge in volatility amid a barrage of concerns, from escalating trade tensions to a selloff in technology shares. Focus this week will turn to U.S. manufacturing data Tuesday and labor-market figures Friday, which are expected to show the jobless rate fell to its lowest level since 2000. Traders are also waiting for more details on American tariffs on Chinese imports.
“With interest rates still relatively low, and generating negative real returns, if you remain in cash the yield attraction of equities and the growth prospects still make it look the best alternative,” Stephen Davies, founder and CEO of Javelin Wealth Management, told Bloomberg TV on Monday.
Elsewhere, West Texas crude oil climbed above $65 per barrel after capping a third straight quarterly gain. Bitcoin rebounded back above $7,000.
Here are some key events coming up this week:
Easter Monday is a public holiday in many major markets including the U.K., Australia, Canada, and most of Europe. U.S. manufacturing PMI and ISM manufacturing data due Monday. Reserve Bank of Australia April monetary policy decision due Tuesday. New York Fed debuts the Secured Overnight Financing Rate on Tuesday. Reserve Bank of India April policy decision due Thursday. U.S. employment data due Friday; jobless rate probably fell in March after holding at 4.1 percent for five straight months.
These are the main moves in markets:
Stocks
Futures on the S&P 500 Index fell 0.2 percent as of 11:35 a.m. London time. The Shanghai Composite Index dipped 0.2 percent. The MSCI Emerging Market Index gained 0.4 percent.
Currencies
The Bloomberg Dollar Spot Index fell 0.1 percent. The euro rose less than 0.1 percent to $1.2328. The British pound advanced 0.3 percent to $1.4061, the first advance in a week.
Bonds
The yield on 10-year Treasuries gained two basis points to 2.76 percent, the largest increase in a week.
Commodities
Gold increased 0.5 percent to $1,331.88 an ounce, the biggest climb in more than a week. West Texas Intermediate crude increased 0.4 percent to $65.20 a barrel. — Bloomberg

Peso climbs on continued inflows

THE PESO strengthened against the dollar on Monday as inflows continued to support the currency.
The local unit ended yesterday’s session at P52.035 versus the greenback, 8.5 centavos stronger than Wednesday’s finish of P52.16, data from the Bankers Association of the Philippines (BAP) website showed.
The peso opened stronger at P52.13 against the US currency. Its intraday low stood at P52.18, while its best showing was at P52 per dollar.
Dollars traded slid to $507 million from the $878.5 million logged last Wednesday, the data showed.
A trader said continued inflows supported the peso.
“There is still a continuation of inflows supporting the peso. Our guess is that maybe it has something to do with the rights offer of Metrobank (Metropolitan Bank & Trust Co.),” the trader said in a phone interview yesterday, adding that they saw some banks selling the peso aggressively.
Metrobank is conducting a P60-billion rights offering to raise 799.8 million shares priced at P75 apiece until April 4. The capital raising exercise will fund the bank’s loan growth as well as the acquisition of its credit card arm.
Meanwhile, the trader also noted that the tariff imposition of China on American products did not affect yesterday’s trading, although this may create a risk-off situation.
For today, two traders see the peso moving between P51.90 and P52.50 against the dollar.
Meanwhile, the BAP has assigned Bloomberg as the new calculation agent for the dollar-peso spot reference rate effective last April 1.
In a statement sent to reporters yesterday, BAP said Bloomberg will calculate the USD/PHP spot reference rate “based on trades carried out by BAP member banks.”
Prior to the partnership between BAP and Bloomberg, the Philippine Dealing & Exchange Corp. published the foreign exchange spot summary.
“We are pleased to partner with Bloomberg to provide enhanced solutions to the FX community in the Philippines,” BAP managing director Benjamin P. Castillo was quoted as saying in the statement. — Karl Angelo N. Vidal

Trump tweets DACA deal for young immigrants is off

WASHINGTON/IXTEPEC — President Donald Trump said on Sunday that there will be no deal to legalize the status of young adult immigrants called Dreamers and he said the US-Mexico border is becoming more dangerous.
After tweeting a “Happy Easter” message on Twitter, he said: “Border Patrol Agents are not allowed to properly do their job at the Border because of ridiculous liberal (Democrat) laws like Catch & Release. Getting more dangerous.”
“’Caravans’ coming. Republicans must go to Nuclear Option to pass tough laws NOW. NO MORE DACA DEAL!” he wrote, adding a threat to kill the North American Free Trade Agreement which is being renegotiated with Mexico and Canada.
DACA, or Deferred Action for Childhood Arrivals, is a program created in 2012 under Democratic former President Barack Obama that Mr. Trump sought to rescind last autumn.
Designed for people brought to the United States as children by parents who were undocumented immigrants, the program shielded them from deportation and gave them work permits.
Mr. Trump had said he was open to a deal with congressional Democrats who want to protect DACA in exchange for funding to build a US-Mexico border wall, a campaign trail promise.
He insisted during his 2016 White House run that Mexico would pay for the wall, something the Mexican government has repeatedly rejected.
Mexico’s presidential front-runner, Andres Manuel Lopez Obrador, launched his campaign close to the border on Sunday demanding respect for Mexicans and signaling he may take a harder line toward Mr. Trump if he wins the July 1 election.
“Mexico and its people will not be the piñata of any foreign government,” Lopez Obrador said in a speech in Ciudad Juarez, Mexico, which borders El Paso, Texas. “It’s not with walls or use of force that you resolve social problems.”
Whether Mr. Trump will stick to his guns on DACA is unclear. Mr. Trump last month threatened to veto a spending bill because it did not address the fate of Dreamers and did not fully fund his border wall but he ultimately signed the bill.
In the months after Mr. Trump took office, apprehensions of illegal crossers along the US-Mexico border dropped from more than 42,400 arrests in January 2017 to a low of around 15,700 in April, according to US Customs and Border Protection data.
Since then, the number of arrests has risen and in the first months of 2018 was above Obama administration levels.
“Mexico has got to help us at the border,” the president, who was spending Easter at his Mar-a-Lago resort in Florida, told reporters on his way into an Easter church service.
“A lot of people are coming in because they want to take advantage of DACA. They had a great chance. The Democrats blew it.”
Mr. Trump’s DACA tweets came after a report on the Fox New Channel’s Fox & Friends program, one of his favorites, that a “caravan” of mostly Honduran migrants was crossing Mexico and headed to the United States, “either illegally or by asking for asylum.”
More than 1,000 would-be migrants have passed through Mexico’s southern states of Chiapas and Oaxaca in recent days in a so-called “refugee caravan” organized by US-based immigrant advocacy group Pueblo Sin Fronteras.
In the town of Ixtepec, more than 1,500 men, women and children from Honduras, El Salvador and Guatemala waited in a sweltering warehouse on Saturday, mattresses rolled and bags packed, as local authorities and immigration officials from Mexico’s federal government organized 15 buses to take them to their next stop on the long journey north.
By traveling together, the immigrants hope to protect themselves from the crime and extortion that makes the route through Mexico dangerous. They say some but not all of them will seek asylum if they reach the United States.
Gina Garibo, a member of Pueblo Sin Fronteras traveling with the migrants, said the group would hold a meeting to discuss Mr. Trump’s statements on Sunday and stressed that the caravan’s aim was to protect vulnerable people.
“The main people here are fleeing criminal violence, political violence, in their country and this allows us to save lives,” she said in response to Mr. Trump’s comments.
A guest on Sunday’s Fox & Friends show, Brandon Judd, head of the National Border Patrol Council union, said illegal immigrants benefit from the “catch and release” program that Mr. Trump referenced in his tweet. Under it, they can be freed while awaiting court hearings if detained in the United States.
If recent border crossers do not claim asylum, they can usually be deported quickly. But if they say they fear targeted violence or persecution in their home countries, they can begin the long process of petitioning for asylum in immigration court.
Mr. Trump said on Twitter on Sunday that Mexico is doing “very little, if not NOTHING,” to stop the flow of people across the southern border. “They must stop the big drug and people flows, or I will stop their cash cow, NAFTA. NEED WALL!”
Mexican Foreign Minister Luis Videgaray said the United States and Mexico work together on migration every day. “An inaccurate news report should not serve to question this strong cooperation. Upholding human dignity and rights is not at odds with the rule of law. Happy Easter,” Mr. Videgaray said in a tweet.
Mexico deported some 80,000 people in 2017, down from about 160,000 in 2016, official statistics show. The vast majority were from Central American nations. The drop reflects fewer Central Americans crossing the country last year. — Reuters

China, Vietnam agree maritime row should be settled through talks

HANOI — Chinese Foreign Minister Wang Yi said on Sunday China and Vietnam should settle their disputes in the South China Sea through talks and move to jointly exploit its waters.
“We have agreed that settling the maritime issues is extremely important for the healthy and sustainable development of bilateral relations,” he told reporters after a meeting with Vietnamese Foreign Minister and Deputy Prime Minister Pham Binh Minh in Hanoi.
China claims 90% of the potentially energy-rich maritime territory and has been building on and militarizing rocky outcrops and reefs in its waters.
Brunei, Malaysia, the Philippines, Taiwan and Vietnam also lay claim to parts of it, through which about $5 trillion of trade passes each year. Vietnam is the country most openly at odds with China over the issue.
“The two sides should better manage disputes through talks and refrain from taking unilateral actions that may further complicate and expand the disputes,” Mr. Wang said.
“At the same time, (the two sides) should promote cooperation at the sea, including holding talks on joint exploitation,” he added.
Messrs. Wang and Minh said bilateral relations had seen positive development, with rising trade and investment as the two neighbours further opened up markets to each other. Bilateral trade exceeded $100 billion last year.
Mr. Minh said Vietnam and China shared responsibility to maintain peace and stability in the region, reiterating Vietnam’s stance that the maritime disputes must be resolved peacefully manner and according to international law. — Reuters

Thai editor could face charges over picture of kings wearing masks

BANGKOK — A Thai editor faces possible criminal charges for sharing a student’s “disrespectful” picture of historic kings wearing face masks to highlight air pollution in the northern city of Chiang Mai.
The governor of Chiang Mai told Reuters on Sunday that he believed Pim Kemasingki, editor of the Chiang Mai Citylife magazine, had breached the Computer Crime Act by sharing the picture.
“It is up to the police to gather evidence,” Pawin Chamniprasart said.
In a letter to police, he wrote that the kings are worshipped and respected in Chiang Mai and “using the picture with the three kings wearing masks is disrespectful.”
Thailand’s cyber crime law, which criminalizes defamation and obscenity, has been widely criticized by international rights groups for curtailing freedom of expression.
Mr. Pim, a Thai-British national, said the image of the three statues wearing masks had been shared on a Facebook page publicizing a “Right to Breathe” anti-air pollution rally that had later been cancelled at the request of the governor.
“I shared this picture thinking it was pertinent and powerful,” Mr. Pim told Reuters.
“For decades I’ve been promoting the city and loving it… so it’s quite unsettling that fighting for healthy air for my fellow citizens has turned into me besmerching the city.”
Recently, Thailand has suffered from some of its worst air pollution in years.
Achariya Ruangrattanapong, a lawyer for Mr. Pim, said he was confident that sharing the picture was not a violation of the cyber crime law.
“How can this be a computer crime if it involves a picture that a child drew?” he said.
Mr. Pawin said he was not seeking charges of royal insult against Mr. Pim.
Under Thailand’s strict lese majeste law, those found guilty of insulting the monarchy face up to 15 years in prison. — Reuters

Costa Rica votes in ex-minister as next president

SAN JOSÉ — Costa Rica on Sunday voted for a former minister from the center-left ruling party as its next president, rejecting his rival, an ultra-conservative preacher who had campaigned strongly against gay marriage.
Carlos Alvarado, a former labor minister under current President Luis Guillermo Solis, who was barred from seeking a second term, won a convincing 60.7% of the ballots in the run-off, electoral authorities said, based on returns from more than 90% of polling stations.
“There is much more that unites us than divides us,” he told a cheering crowd in his victory speech, congratulating the defeated candidate. “My duty is to unite this republic, to take it forward, so it is a leading republic of the 21st century.”
The right-wing preacher, Farbicio Alvarado (no relation), garnered 39.3%. He quickly conceded defeat to a crowd of disappointed supporters, thanked God and congratulated Carlos Alvarado on his triumph. “We have not won the election, but we can accept this result with our heads held high,” he said.
Carlos Alvarado highlighted several issues during the campaign — boosting education, reducing the growing deficit, enhancing environmental protections — while incarnating continuity with the outgoing leader.
One of the biggest challenges facing Mr. Alvarado as he takes charge will be trying to cut down the deficit, which has ballooned to 6.3% of gross domestic product.
To do so, he will have to succeed where his predecessors have failed, in pushing through unpopular measures to increase tax collection.
On gay marriage, he has declared himself in favor, aligning with an exhortation issued in January from the Inter-American Court of Human Rights that such unions be recognized. — AFP

Polls: Half of Japan’s voters don’t support Abe Cabinet

TOKYO — About half of Japanese voters don’t support Prime Minister Shinzo Abe’s administration amid suspected cronyism and cover-up, according to results of opinion polls conducted by Japanese media.
The Yomiuri newspaper’s survey issued on Monday showed that the disapproval rating for Mr. Abe’s Cabinet rose to 50% from early March, compared with 47.5% in the Kyodo news agency’s survey published on Sunday.
The support rate for the Cabinet showed a slight rise to 42.4% in the Kyodo poll, while the Yomiuri poll showed a drop of six points to 42%.
Both opinion polls were conducted between March 31-April 1.
The polls followed last week’s testimony by ex-finance ministry official Nobuhisa Sagawa, who said neither Mr. Abe nor his wife influenced the murky sales of state-owned land to a school operator or the finance ministry’s altering of documents about the deal. The slide in Mr. Abe’s ratings has clouded his prospects of winning a third three-year term as president of his Liberal Democratic Party, a victory that would set him on track to become Japan’s longest-serving premier. Mr. Abe has been prime minister since 2012. — Reuters

Oil extends rally after US rigs decline as Iran risks persist

Oil’s rally above $65 a barrel is being propelled by a sign that American explorers have curtailed drilling activity as well as speculation that the U.S. could reimpose sanctions on OPEC producer Iran.
Futures added 0.5 percent in New York after capping a third straight quarterly gain, the longest winning streak since 2011. U.S. drillers idled seven working rigs last week, easing concerns over surging shale production. Meanwhile, analysts from Mitsubishi UFJ Financial Group Inc. and UBS Group AG said there are upside risks to oil prices from the potential resumption of sanctions on Iran, which could disrupt the nation’s crude exports.
Crude rebounded over 5 percent last month, recouping February’s losses, after U.S. President Donald Trump named hawkish officials to his government, signaling the nation may pursue a more hard-line stance toward Iran. Even so, concerns persist that a rapid increase in American production, which has topped 10 million barrels a day each week since early February, could undermine efforts by the Organization of the Petroleum Exporting Countries and its allies, which are trying to balance the market by cutting output.
Trump’s position on Iran and declining production from OPEC member Venezuela are causing supply uncertainties that “provide some underlying support for the price,” said Ole Sloth Hansen, an analyst at Saxo Bank A/S in Copenhagen. “But the question is whether this is enough to take the prices higher.”
West Texas Intermediate crude for May delivery added 18 cents to $65.12 a barrel on the New York Mercantile Exchange at 2:18 p.m. in Dubai. The contract climbed 56 cents to $64.94 on Thursday. No futures were traded in New York or London on Friday due to the Good Friday holiday. Total volume traded was about 45 percent below the 100-day average.
Brent for June settlement rose 38 cents to $69.72 on the London-based ICE Futures Europe exchange. The May contract climbed 74 cents to close at $70.27 before expiration on Thursday. The global benchmark traded at a $4.62 premium to June WTI.
Yuan-denominated oil futures on the Shanghai International Energy Exchange lost 0.9 percent to 416.6 yuan a barrel. The September delivery contract closed 2.6 percent higher on Friday after debuting last week.
U.S. explorers cut the number of rigs by the most since November 2017 last week, bringing the total to 797, Baker Hughes data showed. Still, the count remains near the highest in three years, and with separate data showing nationwide crude inventories climbed 1.64 million barrels in the week ended March 23, jitters over increasing U.S. supplies remain.
Also in the U.S., Trump’s appointment of Iran hawks Mike Pompeo and John Bolton last month increased the chances that Washington will abandon a deal under which international sanctions on the Persian Gulf state were removed in return for a curbing of its nuclear program.
If measures are reinstated, at least 250,000 to 350,000 barrels a day of oil is at risk of being disrupted, according to Ehsan Khoman, head of research for the Middle East and North Africa at Mitsubishi UFJ. UBS’s analyst Giovanni Staunovo boosted his oil price outlook, citing the potential sanctions as making an increase in prices more likely, especially at a time when OPEC and its allies said they will err toward over-tightening in the market.
The encouraging signs for bulls were echoed in money managers’ net-long positions. Hedge funds have increased their bullish WTI bets to the highest level in seven weeks, according to the U.S. Commodity Futures Trading Commission.
Oil-market news:
OPEC’s shipments will fall to 24.25 million barrels a day in the four weeks to April 14, Oil Movements said in its weekly report. Russia’s decision to cooperate with OPEC and its allies on oil-output levels “played a positive role not only in balancing the market, but also in the additional amount of foreign-currency revenue” gained by the country, Energy Minister Alexander Novak said at a meeting with President Vladimir Putin. — Bloomberg

Peso strengthens on China tariff response

The peso strengthened against the dollar on Monday, April 2, as inflows continue to support the local currency.
The local currency ended Monday’s session at P52.035 versus the greenback, 8.5 centavos stronger from Wednesday’s finish of P52.16.
The peso opened stronger at P52.13 against the US currency. Its intraday low stood at P52.18, while its best showing was at P52-per-dollar.
Dollars traded slid to $504 million from the $878.5 million logged last Wednesday.
A trader said that the continued inflows remain supportive to the peso.
“There is still a continuation of inflows supporting the peso. Our guess is that maybe it has something to do with the rights offer of Metrobank (Metropolitan Bank & Trust Co.),” the trader said in a phone interview, adding that they are seeing some banks selling peso aggressively.
Metrobank is conducting a P60-billion rights offering to raise 799.8 million shares priced at P75 apiece until April 4. The capital raising exercise will fund the bank’s loan growth as well as the acquisition of its credit card arm.
Meanwhile, the trader also noted that the tariff imposition of China on American products did not affect Monday’s trading, although this may create a risk-off situation.
“For today’s trading, I don’t think it has affected that, although we don’t discount the fact that we always would be wary of the fact that if and when [President Donald J.]Trump tweets or issue statements, or when China responded to the the tariffs of the US, then definitely that’s a risk-off situation and whenever we see risk-off situation, dollar is usually the safe haven.”
China has increased tariffs by up to 25% on 128 US products including frozen pork, fruits and wine in response to the the imposition of duties on imports of steel and aluminum. — Karl Angelo N. Vidal

PHL shares trek higher amid thin trading volume

STOCKS OPENED the second quarter on a positive note, trekking higher on the back of positive economic data from the United States amid thinner trading.


The 30-member Philippine Stock Exchange index (PSEi) rose 0.74% or 59.62 points to finish at 8,039.45 on Monday.
The broader all-shares index likewise climbed 0.59% or 28.99 points to 4,869.55.
“It was up after the economic data coming out from the US on consumer spending. It was lower than the estimate, thereby resulting in the US treasury yields going down to lower than 2.75%. This is indicative that aggressive rates increase by the US Fed (Federal Reserve) is still far-fetched,” Diversified Securities, Inc. equities trader Aniceto K. Pangan said by phone.
Mr. Pangan noted that easing concerns over higher interest rates in the US will create positive sentiment in emerging markets such as the Philippines.
Four sectoral indices moved to positive territory, led by holding firms, which posted a 1.61% or 126.78-point climb to 7,965.87. The mining and oil counter jumped 1.49% or 162.58 points to 11,049.51; property gained 0.96% or 35.12 points to 3,681.97; while industrials added 0.39% or 44.72 points to 11,474.37.
On the other hand, services dropped 0.34% or 5.68 points to 1,666.14 and financials gave up 0.33% or 6.97 points to 2,082.70.
Some 1.59 billion issues valued at P4.55 billion switched hands, significantly lower than the P7.82-billion turnover in the previous session.
Analysts attributed the day’s thin trading to the absence of investors who are only just returning from the Lenten break.
“Some regional markets remained closed as well, limiting the cues to trade with,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a phone message.
Advancers prevailed for the day at 131 against 81 that declined and 36 that closed flat. Net foreign outflows dropped to P625.30 million on Monday, lower than the P1.12 billion seen the previous session.
Twelve of the 20 most actively traded stocks saw gains, with Now Corp. soaring 12.33% to P9.20 each. MRC Allied Corp. also gained 6.9% to 62 centavos each, while SM Investments Corp. added 3.05% to P945 each.
The PSEi defied performances of some regional markets, which succumbed to losses due to muted trading during the Easter holiday.
Wall Street on the other hand finished strong last week, with the Dow Jones Industrial Average picking up 1.07% to 24,103.11. The S&P 500 gained 1.38% to 2,640.87, while the Nasdaq Composite index inched up 1.64% to 7,063.45.
Asked for an outlook for the second quarter, Mr. Pangan said the index will continue consolidating.
“The second quarter is still on consolidation until we get the start of the earnings for the first quarter. Whatever the results are will definitely give us a sense of how the market will perform from there,” he said. — Arra B. Francia

Azkals’ win soothes football ‘thirst’

By Michael Angelo S. Murillo
Senior Reporter
THE VICTORY last week and eventual entry of the Philippine national men’s football team into the 2019 AFC Asian Cup was truly a welcome development in more ways than one, this according to one local football writer and analyst.
A 2-1 victor over Tajikistan in their final Asian Cup Qualifiers group match on March 27, the Philippine Azkals booked a historic, first-ever spot in the prestigious continental football tournament happening in the United Arab Emirates next year.
The Philippines joins 23 other nations which proved their worth to be part of the quadrennial football meet.
In beating Tajikistan, the Philippines had to muster much determination and poise after going down early in the second half.
Kevin Ingreso and Phil Younghusband provided the goals for the Azkals to pull the rug from under Tajikistan en route to booking a spot in the AFC Asian Cup as Group F winners with a 3-3-0 record and 12 points.
Considering how the Azkals have had it rough in major tournaments of late, including in the Challenge Cup and the AFF Suzuki Cup, football analyst Lorenzo Del Carmen said the Philippines’ latest victory took an even bigger significance, particularly in channelling attention anew to football in the country.
“I think the sport got some much-needed buzz after the Azkals’ win,” said Mr. Del Carmen, who writes for local site Tiebreaker Times, when asked by BusinessWorld for his thoughts on the Azkals’ win.
“Filipinos want to watch their teams win and every big Azkals win will revive attention to the sport. I mean after the game, all media outlets had at least one story on the Azkals win. It’s been a while since that happened,” he added.
Mr. Del Carmen also agreed in the post-game assessment of Azkals coach Thomas Dooley that the win was a direct result of things coming together for the team.
“I believe so. As they say, the stars aligned for us that night. Kevin Ingreso played villain then hero, Phil Younghusband scored his 50th [international] goal, [defenders] Simone Rota and Carli de Murga played really well the whole night. It was a perfect evening for the Azkals,” the football analyst said
In the AFC Asian Cup, happening from Jan. 5 to Feb. 1, 2019, the Azkals are part of the roster of combatants along with host UAE, Qatar, South Korea, Japan, Thailand, Saudi Arabia, Australia, Uzbekistan, Iran, Syria, Iraq, China, Palestine, Oman, India, Lebanon, Turkmenistan, Jordan, Bahrain, Vietnam, Kyrgyzstan, North Korea and Yemen.
Draw for the tournament is set for May 4 this year.
As per tournament format, the 24 teams will be drawn into six groups of four teams each. The teams in each group play a single round robin. After the group stage, the top two teams and the four best third teams will advance to the round of 16. The winners will advance to the quarterfinals. The quarterfinal winners will advance to the semifinals. The semifinal winners will play in final.
Mr. Del Carmen said at this point it is too early to say how the Azkals would perform in the Asian Cup even as he underscored the need for the team to show patience in its attack.
“It’s too early to say how the team would do in the Asian Cup. We’ve got the 2018 AFF Championship (Suzuki Cup) later this year so let’s focus on that first. A good showing there will raise confidence for the team and fans for the Asian Cup,” Mr. Del Carmen said.
“I would like to see more patience in our play though. I mean I think we were too direct against Tajikistan and I would like to see us be more careful in possession. We lost the ball a few times at dangerous positions,” he added.

Home of new-age sports in PHL rises in Imus, Cavite

By Michael Angelo S. Murillo
Senior Reporter

STAYING true to its vision of creating value in every property it develops, Ayala Land, Inc. (ALI) recently unveiled Vermosa Sports Hub.
Anchored on the healthy and active lifestyle thrust, Vermosa Sports Hub is touted as the country’s first premier and professionally managed sports facility situated within a 700-hectare space of ALI’s mixed-use estate Vermosa in Imus, Cavite.
The Sports Hub is envisioned to be a complete destination designed specifically to provide an effective and complete training experience for the athletic lifestyle, offering a seamless integration of facilities and sports-related elements.
“What we are doing here right now is part of a bigger vision which is to create value for our customers. And for Vermosa it is about a healthy and active environment which we think will be beneficial for everybody and I believe we’re able to achieve that with the Sports Hub,” said Jay Teodoro, ALI senior division manager, Strategic Landbank Management Group, in an interview with BusinessWorld during the launch of Vermosa Sports Hub on March 16.
The facility boasts of an International Swimming Federation (FINA) standard, Olympic-size swimming pool equipped with the latest timing system by Omega and the Anti Wave Starting Blocks.
There is also nine-lane track oval built in accordance with International Association of Athletics Federations (IAAF) standards.
Football enthusiasts also have their space with a standard-sized football field with natural grass and a sand sub-base for good traction.
The Vermosa Sports Hub has a training and fitness club as well equipped with a sports science laboratory, to be managed by Sante Health & Fitness, Inc., which is suited for athletes who want to take the next step to reach peak performance.
Vermosa said retail outlets, including health and sports merchants, will soon open in the hub as well as areas for bike lanes, jogging paths and other outdoor sports facilities.
“At the very beginning we already knew that it is going to be about healthy and active living for Vermosa and one of the main considerations was what types of sports will be part of it. We could have gone with the popular sports, like basketball, but those kinds of sports are really taken care of by our residential developments. Everywhere you go you see a basketball court,” said Mr. Teodoro on how they went about the development of Vermosa.
“We saw a growing trend for sports like triathlon and the people who do triathlon are the kind of market we are targeting for Vermosa. Normally executives 35 and up, the ageless we call them. They don’t age but just change category,” he added.
Mr. Teodoro went on to say that their focused is on “non-traditional” sports, saying “We are looking at emerging sports, which is why we call Vermosa “Home of new-age sports in the Philippines.”
PATAFA TRAINING GROUND
Meanwhile, thanks to its partnership with the Ayala group, the Philippine Athletics Track and Field Association (PATAFA) gets to benefit from the Vermosa Sports Hub as it has been offered as a training area for the country’s national athletes.
“Under our agreement it will be the home of the PATAFA national team. This is where we will train starting in April. We will start setting up camp here in preparation for the Asian Games and SEA Games in Manila,” said PATAFA President Philip Ella Juico in a separate interview during the launch.
“Our athletes are very excited about this new facility. In fact, [Olympian long jumper] Marestella Torres was able to use it already. Facilities like this are very important for us as it would allow us to be together and work as a team in a semi-controlled environment,” the PATAFA head added.
To ensure that Vermosa Sports Hub is accessible to the growing market of sports enthusiasts, competitive rate packages and period-based membership passes are being offered by the company.
“Traditional product for real estate developers is sports and country club. That is normally exclusive. But we feel it is not being maximized and the operations tend to suffer. We feel by opening it (Vermosa) to the public and handling it professionally, we get more from it,” Mr. Teodoro said.
For more information on Vermosa Sports Hub, check out https://vermosa.ph/vermosa-sports-hub.

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