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AFC Cup: Kaya hosts Home United at Panaad Stadium

KAYA FC-Iloilo treks back to AFC Cup action today as it hosts Home United FC of Singapore in a Group H match at 3 p.m. at the Panaad Park and Football Stadium in Bacolod City.
Playing at fellow AFC Cup participant Ceres-Negros FC’s home turf, Kaya tries to improve on its draw performance in its opener and finally barge into the win column of the tournament.
Kaya, the Copa Paulino Alcantara champion, is playing its home matches at Panaad after the Iloilo Sports Complex where it plays was ruled short of the stadium standards required to host an AFC event “despite exhausting all efforts to prepare the venue.”
The team nonetheless vowed to do its best in today’s game with the Iloilo fans on its mind and expressed hope that down the line “it will be able to give Iloilo a firsthand experience of the excitement of hosting AFC matches.”
Kaya settled for a 1-1 draw with Lao Toyota FC in its 2019 AFC Cup opener in Laos on Feb. 27, depriving it of the full three points.
Seemingly on its way to a victory last time around when Jovin Bedic scored a goal in the 18th minute, Kaya saw itself forced to a draw by home team Lao when defender Sayfa Aphideth managed to break through in the 87th minute.
Kaya got off to a flying start at the Laos National Stadium, forcing Lao’s defense to work early.
Mr. Bedic’s goal put more pressure on their opponent while also propelling Kaya’s motor all the way to the break.
But Lao was not to go out easily, capitalizing on the opportunities presented to it.
Its efforts paid off late in the contest as Mr. Aphideth found himself in great scoring position and delivered accordingly with three minutes left in regulation time after catching a pass from captain Kazuo Honma.
Kaya still tried to salvage a win after but was unsuccessful in doing so and just settled for a point from the draw.
It was an outcome that left Kaya ruing and something it hopes to make up for today.
“We were unlucky not to get all three points. We played well in the first half. We were able to control things. But we didn’t play so well in the second,” said Iloilo head coach Noel Marcaida after their match against Lao.
“Moving forward we need to learn to be switched on for the full 90,” the coach added.
Home United, for its part, was also held to a 1-1 draw by SM Makassar of Indonesia in its opener, leaving all teams in the group with a point each entering Group H matches today and making the Kaya-Home United game more important for group leadership. — Michael Angelo S. Murillo

Enhanced Salomon Xtrail event set at Timberland

THE annual Salomon Xtrail event in the country has been enhanced this year to keep participants with something fresh to look forward to.
Unlike the past seven years where it offered two gruelling race categories, the 2019 edition of the much-awaited outdoor event has an all-new race pattern — dubbed the Ultra50 — when it happens on the weekend of April 28 at The Glades in Timberland Heights in San Mateo, Rizal.
The Ultra50 will require participants to conquer five different mountains in Sierra Madre. It joins as race offering the Xtrail Run and Xtrail Kids Race.
Organizers said the Ultra50 category is a great opportunity for seasoned trail runners to test their limits.
The Ultra50 category starts from The Glades at Timberland Heights and will cover six areas which include Purro, Campananan, Malemod, Ayaas, Parawagan, and Maarat.
It consists of 80% single track, 20% gravel/dirt road, fire trails, and some river crossings. The route will cover paths, ridges, and trails that have never been used in any other race as well as old local trails that have been forgotten because of newer and wider trails.
Those interested in joining have until April 17 to register at www.salomonxtrailpilipinas.com.ph. All participating runners will receive a Salomon Technical Jersey, a Salomon Trucker Cap, as well as gift items from the event sponsors.
Meanwhile, those who finish within the cutoff time will receive a Mountain Run Finishers medal as well as a finisher’s shirt for the Ultra50 runners. — Michael Angelo S. Murillo

Escueta-Pantig tandem wins Prima badminton men’s open doubles plum

PHILIP Joper Escueta and Paul John Pantig won the men’s doubles open title while Gelita Castilo and Eleanor Christine Inlayo ruled the women’s doubles open of the 12th Prima Pasta Badminton Championships recently at the Powersmash badminton courts in Makati City.
Escueta and Pantig displayed great teamwork to crush former men’s doubles open champion Peter Gabriel Magnaye and Alvin Morada, 22-20, 21-11, in the finale while Castilo and Inlayo outplayed Patricia Barredo and Descka Calimlim, 21-14, 21-17, for women’s crown.
In other doubles finals results, Anggy Sepdianto and Christian Bernardo bashed John Matthew Bernardo and Mike Minuluan, 21-11, 17-21, 17-14 (retired) to claim the men’s doubles A plum while Jochelle Alvarez and Missy Cervantes whipped Dainelle Aubrey Masongsong and Jellene Geviane De Vera, 21-19, 21-11, for the women’s doubles B championship.
Andrea Abalos and Ghiselle Erica Bautista scored a come-from-behind win over Palma Maria Assumpta Cruz and Mikaela Joy Miranda De Guzman, 14-21, 21-14, 21-14, to take home the girls’ under-19 doubles crown.
Jeno Carino and Nestojan Tapales defeated Zed Angel Monterubio and Mark Anthony Velasco, 22-24, 21-13, 21-16, to capture the boys’ U-19 doubles diadem of the tournament sanctioned by the Philippine Badminton Association.
Other level doubles champions were Joffre Arollado and Christian Bernardo (men’s B), Gilly Chavez and Almira Kristel Ramos (women’s C), Jeff Monton and Nephtali Pineda (men’s C), Myra Francisco and Aiza Pelagio Garcia (women’s D), Mark Lacson and Jeff Monton (men’s D), Erlene Bello and Ma. Luisa Gregorio (women’s E), John Russel Oliveros and Benjo Resurreccion (men’s E), Judith Espanola and Mariane Paez (women’s F), Mike Alayon and Jordan Lastimosa (men’s F) and Honey Ray Ambait and John Ray Balorio (men’s G).
Other age-group doubles champions were Patricia De Leon and Angel Valle (girls U-17), Maeve Paz and Kahrene Zapanta (girls U-15), Munir Bartolome and Nestojan Tapales (boys U-17) and Maverick Alcala and Zeth Javier Quiambao (boys U-15).

MPBL: Batangas City, Imus set up playoff tiff after beating rivals

BATANGAS CITY — The Batangas City Athletics is back at the upper half of the playoffs, but it didn’t come the easier route just as it did last time around.
Pushed to the limit by a gritty General Santos City Warriors side, the Tanduay-backed Athletics held on to preserve a 92-86 win and officially secure the No. 2 seat of the southern division of the MPBL Datu Cup playoffs here at the Batangas City Coliseum.
The Athletics will face the Imus Bandera, who secured the seventh place in the division following a 107-90 triumph over the already ousted Mandaluyong El Tigre.
Both Batangas City and Imus ended up in a tie with another team at the end of the elimination round.
The Athletics wound up in a tie with the Muntinlupa Cagers, both of them wrapping up their elims campaign with a 15-10 card. The Bandera, on the other hand, ended up with an 11-14 record, the same slate held by the Cebu Sharks.
But by virtue of the win over the other rule, the Athletics and the Bandera will get the higher seeding.
Batangas City got big games from the usual suspects before putting away its hard-fighting opponent.
Jeff Viernes, Jhaymo Eguilos and Denice Villamor came up with the big baskets when needed to endure a gutsy stand by the Warriors, who will end up at No. 4 in the southern division.
The three players conspired in a huge 10-2 run in the fourth period to calm down the Athletics. Behind their baskets, they were able to shatter the game’s final deadlock at 73-all and turned it to an 83-75 advantage.
Viernes finished with 21 points and six assists to lead the charge for the Athletics. Eguilos, last season’s Finals MVP, had 18 points on top of six rebounds and two blocks while Villamor added 16, including a steady three-of-four shooting from beyond the arc. — Rey Joble

Lou makes history off the bench as Clippers top Celtics

LOS ANGELES — Lou Williams scored 34 points to become the most prolific bench scorer in NBA history as the Los Angeles Clippers continued their charge toward the playoffs with a 140-115 victory over the visiting Boston Celtics on Monday.
Danilo Gallinari scored 13 of his 25 points in the opening quarter, and Montrezl Harrell added 20 points as the Clippers won their fifth consecutive game and improved to 9-3 since their roster was restructured at the trade deadline.
With the victory, Los Angeles moved into sole possession of sixth place in the Western Conference.
Williams, who leads the NBA in points off the bench this season, passed Dell Curry as the highest scoring player off the bench of all time and now has 11,154 as a reserve in his career. Curry had 11,148 points as a reserve.
It was Williams’ eighth game of the season with at least 30 points, all since Dec. 28.
Terry Rozier scored 26 points for the Celtics, who saw their three-game winning streak end. Boston went 3-1 on a four-game road trip, all against California teams. Jaylen Brown scored 22 points, and Kyrie Irving added 18 and 11 assists for the Celtics.
Unlike the Clippers’ 123-112 victory at Boston on Feb. 9, when Los Angeles set a franchise record by rallying from a 28-point, first-half deficit, the Clippers took control of this one early.
Los Angeles led 25-19 after one quarter and had a 62-49 lead at halftime after shooting 72.2 percent from the field in the second quarter. The Clippers shot 61.6% from the field for the game as seven players scored in double figures.
Ivica Zubac had 14 points and Shai Gilgeous-Alexander added 12 for the Clippers, who tied their longest winning streak of the season, first done in November. Patrick Beverley and Landry Shamet added 11 each for Los Angeles.
Marcus Morris had 11 points and Al Horford added 10 for the Celtics.
Wilson Chandler made his Clippers debut in the fourth quarter and scored two points. He was acquired from the Philadelphia 76ers in the trade-deadline move that cost Los Angeles leading-scorer Tobias Harris, but had not played with his new team because of a quadriceps injury.
The Celtics were playing without forward Jayson Tatum, who missed his first game of the season because of right shoulder soreness. — Reuters

DSCPI holds 2019 first-quarter ranking and SEA Games selection

THE DanceSport Council of the Philippines, Inc. (DSCPI) will host the 2019 DSCPI first quarter competition and selection for the 2019 Southeast Asian Games dance athletes at the Ballroom Hall of Valle Verde Country Club, Pasig City on Saturday.
DSCPI President Becky Garcia said there are 400 participants all over the Philippines will compete in the ranking and selection competition.
The World DanceSport Federation licensed adjudicators are Foo Yoong Chen “Vivian” of Malaysia, Valeriy Gulay of Russia, Yoshikazu Inazawa of Japan, Marcel Keijzer of Netherlands, Jae Ho Kim of South Korea, Hong Thi Nguyen “Kathy” of Vietnam, Lubos Novotny of Czech Republic, Galina Gulay of Russia, Jun-De Jiang, Sheng-Wei Lin “Boris” of Taiwan and Karl Olivier Alba of Canada.

2-of-3 Fantasy League teams

For most of those playing the National Basketball Association Fantasy League, this week marks the stretch that stakes have been raised with the start of the playoff rounds.
After 21 weeks of jockeying for position, it is now time to build on the “fruits” of one’s labor, for those advancing, and step up the play in a win-or-go home setup.
If you have been following this space, you know that for this season I chose to handle three teams in three different leagues among colleagues in sportswriting and here at the office.
I am happy to announce that out of three teams in the 2018-19 NBA Fantasy League season I am in the playoffs in two of them.
It could have been three but I just did not get the breaks down the stretch in one of the tournaments I was in with fellow sportswriters to finish ninth in the 20-team field, narrowly missing the playoffs as I was just one win down from the number seven and eight teams.
Talk about tough luck, right? But that is the beauty of the game. You just never know.
In the other league with sportswriters — under the “No Mercy League 2018-19” name — I had it good in “regulation” play, finishing second heading into the quarterfinals.
I take pride in the performance of my team (Nacho’s BW Posse) in the 20-team field and nine-category league, showing resilience as it made its way to the top.
Following the first week, Nacho’s BW Posse was in the middle of the pack but slowly clawed its way up, even holding momentarily the top spot, before settling at the number two position at the end of last week.
It banked largely on the play of Kevin Durant (Golden State), Tobias Harris (LA Clippers/Philadelphia 76ers), De’Aaron Fox (Sacramento Kings), Andrew Wiggins (Minnesota Timberwolves), Ricky Rubio (Utah Jazz) and Jusuf Nurkic (Portland Trail Blazers).
Along the way I picked up some good contributors in Thomas Bryant (Washington Wizards), Reggie Bullock (Detroit Pistons/LA Lakers), Patrick Beverley (Clippers) and Kenrich Williams (New Orleans Pelicans).
Now in the playoffs, against Joey Villar (Sportsmaryosep) of the Philippine Star, I am going to be honest and say I am a bit concerned over how my team would fare.
Durant, Wiggins and Rubio are all banged up, leaving them wait-and-see for now.
Making it tougher is that in a 20-team field there are very few left on the free-agent wire to choose from.
I have since dropped Williams for Maxi Kleber (Dallas Mavericks) over a favorable schedule and I am hoping it pays off and compensate for the iffy situations of my old reliables.
As of this writing, I am trailing Sportsmaryosep, 2-7, oops, 1-8, leaving for much eyebrow burning on my part for the rest of the week if I want to advance. Oh well.
Meanwhile, my team in the office (Roadblock) is doing well at the moment.
Our 2018-19 BWorld League, a shallower league of 12 teams and nine categories, still has one week left of regulation play before the quarterfinal phase starts. But Roadblock is already assured of a playoff spot at number two at the moment, or worst case third.
Durant and Russell Westbrook (Oklahoma City Thunder) banner my team with help from Milwaukee Bucks guards Malcolm Brogdon and Eric Bledsoe, Julius Randle (Pelicans), Otto Porter (Wizards/Chicago Bulls), Paul Millsap (Denver Nuggets), Dewayne Dedmon (Atlanta Hawks) and Javale McGee (Lakers).
Along the way I picked up Bryant, Kenneth Faried (Houston Rockets) and Darren Collison (Indiana Pacers).
Midway I traded for Khris Middleton (Bucks) in exchange for Serge Ibaka (Toronto Raptors) as I was angling for balance on my frontline. Admittedly I am looking at it now with some reservations in light of the underwhelming play of late of Dedmon, McGee and Bryant.
I dropped McGee yesterday in favor of his Laker teammate Moritz Wagner and I hope the latter makes a genius out of me.
I week still for Roadblock before the playoffs, I will try to sharpen my roster in anticipation of what I expect to be a tricky and interesting stretch.
NBA Fantasy League playoff time and it is sink or swim. How are your teams doing? Good luck the rest of the way, guys!
 
Michael Angelo S. Murillo has been a columnist since 2003. He is a BusinessWorld reporter covering the Sports beat.
msmurillo@bworldonline.com

Change is coming

Yesterday, Warriors head coach Steve Kerr was on the mark when he referenced George Orwell’s seminal tome “1984” in relation to the intense scrutiny public figures have faced in recent memory. Every single move they make is analyzed. Every singe word they utter is parsed, even if in confidence and presumably away from prying eyes. And they are second-guessed instantaneously. No doubt, the inevitability of the situation was what prompted him to address with humor his off-the-cuff remark to an assistant during a timeout late in a home loss to the otherwise-hapless Suns the day before.
As was typical of the 2016 Coach of the Year, Kerr didn’t even bother denying what lip readers figured he said with 1:35 left in a match the Warriors had a 97% chance of winning before opening tip. “I’m so f–ing tired of Draymond’s s–t,” he appeared to have remarked prior to the huddle. Nothing incendiary while in the course of a long season, really. Unfortunately, he was caught on camera, and the broadcast clip quickly made the rounds in social media. And, for not a few quarters, it provided more proof of the difficulties the defending champions were undergoing.
True, the reaction wouldn’t have been as strong were the Warriors winning. As things stood, they were in the midst of a slump that had them suffering from setbacks in six of their last 10 outings. And it didn’t help that they were then about to succumb to the Suns, who possessed the National Basketball Association’s worst record, and at the Oracle Arena to boot. Never mind that they remained on top of the Western Conference, and that they likewise encountered rough waters near the end of their 2017-18 regular season before successfully retaining their title.
Under better circumstances, Kerr’s sentiment would have been taken in a less negative light, if not altogether excused. And, to be sure, it was far from the most controversial. In the aftermath, immediate past Finals Most Valuable Player Kevin Durant made his frustrations known. “Stupid-ass m–f–ing game we[‘re] playing. We need to be playing championship-level basketball,” KNBR quoted him as saying. Meanwhile, five-time All-Star Klay Thompson saw fit to blame the crowd for failing to provide them with the requisite “energy” to compete.
Make no mistake. The Warriors are too stacked not to claim their fourth championship in five years. For all their travails, they’re not new to their plight, and they know they have the wherewithal to compete at their best. On the other hand, they’re clearly due for an upheaval. And, in this regard, what figures to be a bigger question mark is not their capacity to take home the hardware anew, but to stay together afterwards. Change is coming, and precisely because they’re looking forward to it.
 
Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Palace: Duterte, Congress leaders to resolve budget

By Camille A. Aguinaldo and
Charmaine A. Tadalan Reporters
CONGRESS LEADERS were scheduled to meet last night with President Rodrigo R. Duterte to discuss the impasse between the Senate and the House of Representatives on the proposed P3.757 trillion national budget for 2019.
In a press briefing on Tuesday, Presidential Spokesperson Salvador S. Panelo said the President is stepping into the row between the two chambers of Congress over accusations of post-ratification changes in the delayed 2019 spending plan.
“I understand they will be having a meeting tonight, maybe that’s (budget) the agenda where they have to thresh out whatever differences they have,” he said in a press briefing on Tuesday.
“He will act as a moderator. He will listen. Maybe he’s just— I’m just speculating, he may have brought the two together just so they can talk and discuss….It should be the goal of all branches of government to unite and have as a goal the welfare of the people,” he added.
For his part, Senate President Vicente C. Sotto III said the meeting would provide a clear picture on the fate of the 2019 national budget, whether it would eventually take effect or a reenacted budget would continue. He said he would also present in the meeting the Senate’s findings on the alleged realignments of the House of Representatives in the budget bill.
“I think after tonight, it will be clear on what will happen (on the 2019 national budget), which is either they (House of Representatives) remove the internal realignment after the ratification or we have a reenacted budget until July,” Mr. Sotto said.
“That will be our position when we meet the President later. So it’s up to them to accept or not accept our proposal. Now, I will leave it also to the President whether to accept or not accept their (House of Representatives) explanation….I will wait for their reaction later,” he added.
Mr. Sotto said he would be accompanied by Senate President Pro Tempore Ralph G. Recto, Senate Majority Leader Juan Miguel F. Zubiri, as well as Finance committee chair and vice chairperson Senators Loren B. Legarda and Panfilo M. Lacson.
For his part, House Minority Leader Danilo E. Suarez said House Leaders, particularly Speaker Gloria Macapagal-Arroyo and House Appropriations Committee chair Rolando G. Andaya, Jr., are set to join the meeting with Mr. Duterte.
He also called on the Senate “(t)o be transparent, you must identify how you intend spend the money that’s being allocated within your district.”
“The House merely specified projects and programs that shall be funded,” Mr. Suarez added, in reference to itemized lump sum funds provided in the report approved by the Bicameral Conference Committee.
According to Mr. Sotto, the House realigned P79 billion of the budget for the Department of Public Works and Highways. Mr. Lacson, for his part, had claimed that P15 billion of the budget for the Department of Health was manipulated.
The House countered that the Senate had realigned some P75 billion in the budget after it was ratified, while according to Mr. Andaya, the Senate did not name the proponents of the funds it had itemized.
Mr. Duterte said in a speech Monday evening that he would not sign into law the 2019 national budget if it contained illegal provisions, but acknowledged that a continued reenacted budget would affect the country’s economic growth and law enforcement efforts.
During the Tuesday briefing, Mr. Panelo explained that the President was generally expressing his stand that he would not be part of anything that would be illegal or unconstitutional in the 2019 national budget.
“It could also mean that you settle your differences together so that we can have a new budget,” he said.
Mr. Panelo also believed that the issue over the budget would be settled soon given that Congress leaders were aware of the consequences of a continued reenacted budget for the year.
“I will make an educated guess — I think they will be settled. They will be settled, because they know that any reenacted budget will affect the operations of the government. Many will be affected… Maybe that’s why they have by themselves initiated this dialogue,” he said.
Mr. Sotto told reporters in a mobile phone message Monday evening, “I’m glad to hear that. I’ll save him the trouble by not signing it.”
For his part, Mr. Lacson said the House leadership should have taken a hint from the President’s statements on the national budget if they were indeed supportive of the administration’s legislative agenda.
“He (the President) is correct. What I can’t understand is why the House leadership cannot take the hint from President Duterte himself,” he said in a statement.
Still, Mr. Lacson said he hopes the meeting would be an opportunity for both chambers of Congress to resolve the deadlock on the national budget. “We won’t be there to quarrel but to resolve the issues surrounding the budget,” he told reporters in a text message.

Religious leaders should speak without fear of reprisal — US diplomat

RELIGIOUS INSTITUTIONS should be able to speak freely on the actions of government without fear of reprisal, United States (US) Ambassador-at-Large for International Religious Freedom Samuel D. Brownback said on Tuesday amid President Rodrigo R. Duterte’s continued verbal attack on the Catholic Church.
“It is key that everybody, and this includes religious leaders, have the ability to speak freely without the fear of reprisal about what a government is doing,” he said in a teleconference with reporters on Tuesday when sought for comment on the issue.
“And I know as a former governor and senator myself, a number of people are very critical of the things I said. Some were people of faith that were critical of what I would say or do. That is their right and prerogative and it should be protected. It shouldn’t matter whether or not they’re a religious person,” he added.
Mr. Duterte has been critical to the Catholic Church and its leaders and has lashed out at priests and bishops whom he accused of being involved in corruption and sexual harassment.
In a speech last December, the President, who has claimed to have been molested by a priest when he was a student, vowed to continue his attacks until the religious institution “corrects itself.” He also called on priests not to use the “platform of religion” to criticize him.
Catholic Church leaders have continuously opposed the government’s campaign against illegal drugs and condemned the thousands of killings it has caused.
Priests who have been vocally critical of the government’s drug policies said they have received death threats in recent weeks. Malacañang, however, has denied that the administration was behind the threats against the Catholic clergy.
Mr. Brownback on Tuesday also highlighted that those in the faith communities were often the ones who speak up for those “in the most difficult situation in society,” such as the hungry and the poor.
He noted that these were “the voices that we should listen to, not try to thwart.”
“They have that right to speak their mind freely, and that’s part of what makes for an open and vibrant discussion in a society, that there’s no fear of reprisal. And there shouldn’t be fear of reprisal for a religious institution, if they are concerned about a particular situation in the country,” he said.
Mr. Brownback is in Taiwan to have a two-day dialogue with civil society organizations on the state of religious freedom in the Indo-Pacific region.
He said religious freedom is a high priority of the Trump administration, reiterating the US’ commitment to push for the foundational human right “for a better chance of economic growth and less terrorism” in countries. — Camille A. Aguinaldo

Peso plunges to six-week low vs dollar

THE PESO dropped to a six-week low on Tuesday.

THE PESO plunged to a six-week low against the dollar following statements from Bangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno about slashing banks’ reserve requirement ratio (RRR) quarterly.
The peso closed the session at P52.70 versus the greenback on Tuesday, slumping by 50 centavos from the P52.20 finish on Monday.
This was the peso’s worst showing in more than six weeks or since it closed at P52.86 per dollar last Jan. 24.
The peso opened Tuesday’s session stronger at P52.13 against the greenback, jumping to as high as P52.11 intraday. However, it closed the session at its worst showing.
Trading volume surged to $1.744 billion yesterday from the $833.54 million that switched hands the previous day.
A foreign exchange trader said the peso strengthened initially as the market “tried to short the dollar against the peso.”
“But as we saw the BSP Governor Diokno gave remarks on reserve ratio cuts, we saw the market up to P52.40 in the morning session,” the trader said in a phone interview yesterday.
In an interview with ABS-CBN News Channel, the new central bank chief hinted at the possible easing of reserve standards for banks once every three months.
“I think there’s room for monetary easing. It could be one percentage point every quarter for the next four quarters. We’ll look at the data and see,” Mr. Diokno said.
He added that any future adjustments to the reserve requirement ratio are meant to bring down the ultra-high regime and not so much about providing stimulus for the state infrastructure push.
“During the afternoon session, as we saw the offshore prices of the dollar-peso rising at a very high rate, we saw the market to continue to rise until P52.70,” the trader added.
The BSP slashed the RRR in March and May last year, bringing the mandatory reserves for big banks to 18% of their total deposits.
“We’ll look at the data and see, because every time we reduce our reserve requirement by 1%, that translates to P90-100 billion in the economy,” Mr. Diokno added.
Meanwhile, another trader attributed the peso’s slump to the release of the country’s trade data.
“The peso weakened after the Philippine January 2019 trade balance report reverted to a wider deficit after the narrowing in December 2018,” the second trader said in an e-mail.
The country’s trade deficit widened in January to $3.76 billion from the $3.75 billion recorded the previous month, as imports grew by 5.8% and exports declined by 1.7%.
For today, the first trader said the peso may move between P52.50 and P52.80 versus the dollar, while the other trader gave a P52.55-P52.85 range. — K.A.N. Vidal

Shares end higher on US retail data, Brexit deal

SHARES firmed up on Tuesday, tracking global indices’ performance as better retail earnings in the United States boosted sentiment.
The benchmark Philippine Stock Exchange index (PSEi) climbed 0.5% or 38.82 points to close at 7,747.54. The broader all-shares index likewise rose 0.32% or 15.62 points to 4,795.80.
“Foreign markets were up overnight as British Prime Minister Theresa May secured last minute support from the EU before the crucial Brexit voting today. US market was also up after a better than expected January retail earnings report boosted investor confidence,” Unicapital Securities, Inc. Technical Analyst Cristopher Adrian T. San Pedro said via text on Tuesday.
The US Commerce department reported that January retail sales rose by 0.2% in January, recovering from the weakness seen in December that was further revised lower to 1.6%, compared to 1.2% as initially reported.
“The stronger US retail sales helped sentiment. Overall volume was decent as investors bought back into the market after several days of minor consolidation,” Regina Capital Development Corp. Managing Director Luis A. Limlingan said in a mobile message.
With this, Wall Street’s Dow Jones Industrial Average ended a five-day losing streak on Monday, bouncing back 0.79% or 200.64 points to close at 25,650.88. The S&P 500 index jumped 1.47% or 40.23 points to 2,783.30, while the Nasdaq Composite index soared 2.02% or 149.92 points to 7,558.06.
Most Southeast Asian stock markets rallied on Tuesday, with Singapore leading gains, as sentiment across broader Asia lifted after the European Commission agreed to changes in a Brexit deal, boosting appetite for riskier assets.
Unicapital’s Mr. San Pedro also noted that investors reacted to Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno’s remarks on the possible easing of the reserve requirement ratio for banks by one percent every quarter for the next four quarters.
“On a technical note, the index will continue to range between 7,700 support and 8,000 resistance in the short term. A bearish scenario to test 7,500 and 7,350 support levels will occur if the index fails to stabilize above 7,700,” Mr. San Pedro said.
Four sectoral indices ended the day with gains, led by services which jumped 1.48% or 22.90 points to 1,568.60. Industrials followed with an uptick of 1.02% or 116.43 points to 11,521.41. Holding firms went up 0.9% or 69.44 points to 7,750.16, while financials edged higher by 0.8% or 13.94 points to 1,749.41.
Meanwhile, property dropped 1.52% or 60 points to 3,882.57 and mining and oil gave up 0.65% or 52.46 points to 7,950.47.
Turnover picked up slightly to P5.70 billion after some 1.68 billion issues switched hands, versus the previous session’s P5.48 billion.
Decliners trumped advancers, 108 versus 83, while 56 ended flat.
Net foreign outflows persisted, rising to P348.84 million compared to Monday’s P273.48 million. — Arra B. Francia

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