Luxurious gifts and artsy options

December 16, 2024 | 12:02 am

You’ve still got a couple of weeks to get Christmas presents, and we’ve got a few tips, from the luxurious to the quirky.

LUXE LIST
Coach. The Rustan’s Makati Coach store debuts the house’s Holiday 2024 collection designed by Creative Director Stuart Vevers. With craftsmanship, luxury, and self-expression at the forefront, the collection reimagines classic Coach American heritage styles with a youthful twist. The brand’s popular Tabby shape now comes with a chain, but there are other ways to enjoy it: think quilted, or with crystals. The Fall/Winter collection, meanwhile, still on display, shows vintage Coach styles but in more festive colors. The New York collection is also available: and to make someone feel special, why not get someone a bag also held by supermodel Bella Hadid (Hint: ask for the Brooklyn). The new Coach Rustan’s Makati store is on the first level.

Gucci. By acquiring a bit (pun intended) from the Gucci Cruise 2025 and Fall/Winter 2024 collection, you’re getting a bit of history: this will round out new Creative Director Sabato de Sarno’s first full year with the Italian household name. The inspiration is London, so they have got knits and florals, but also a ballet flat shaped exactly like a pointe shoe, with the house’s recognizable horsebit buckle. Most special of all, of course, is the debut of the Blondie bag, named after Debbie Harry’s new wave band. The bag, a leather or toile sling akin to those containing cameras, revives a Gucci logo used in the 1970s, right when Debbie Harry burst into the scene. Visit Gucci’s store in Greenbelt.

Dita Lancier. Give the gift of seeing and being seen with the Fall/Winter 2024 collection of luxury eyewear brand Dita Lancier. Dita Lancier provides timeless designs with advanced lens technology for optimal vision in any environment — land, sea, or air. The brand’s mission is to help people “see the world better without sacrificing style,” offering eyewear that enhances both visibility and comfort. The collection consists of frames crafted from premium materials like titanium and acetate, featuring anti-slip rubber nose pads and temples for ultimate comfort. This collection offers a variety of timeless shapes designed for a classic style, ensuring functionality and comfort for everyday wear or life’s adventures. Each piece is built for durability as it improves optical precision while blocking UV and blue spectrum light. The Dita Lancier FW24 collection is available in square, rectangle, round, and aviator frame shapes with lens in three colors: land (brown), sea (gray lens), and air (green). The Dita Lancier FW24 is now available at select Vision Express locations nationwide.

ARTSY LIST
We understand that not everyone is into glamor: for those looking for more understated gifts, we’re presenting art-emblazoned gifts for a little bit of beauty in your everyday.

Arts & Letters. Quezon City-based Arts & Letters has released a gift collection of ceramic mugs featuring several famous paintings. These include Vincent van Gogh’s Starry Night, Almond Blossoms, and Vase with Twelve Sunflowers. Edgar Degas’ The Pink Dancers, Before the Ballet, and The Green Dancer are also on the list, as are Gustav Klimt’s The Kiss and the Tree of Life. The collection is rounded out by Katsushika Hokusai’s The Great Wave off Kanagawa. The mugs are available at P325, and a boxed coffee set is available for P475. Double the fun with two mugs and the boxed set for P800. Other designs include mugs inspired by The Little Prince and Alice in Wonderland. For orders, contact https://web.facebook.com/artsandlettersmanila.

Fundacion Sansó. Not many people have a Juvenal Sanso at home, but you can change that with gifts from the Fundacion Sansó museum shop. There are plates printed with his works (P3,500), but for a grand gesture, try the Impact of Creation Sansó x Rega Turntable System, for P125,000. For something a little more humble, try their tea tumblers, also printed with the artist’s works, from P800. For more information, check out https://fundacionsanso.shop/.

Ukraine ready to step in after Russia suspends food shipments to Syria

December 16, 2024 | 12:02 am

KYIV — Ukraine, a global producer and exporter of grain and oilseeds, is ready to supply food to Syria following the fall of Bashar al-Assad, Ukrainian Agriculture Minister Vitaliy Koval told Reuters on Friday.

Russian and Syrian sources said earlier that Russian wheat supplies to Syria had been suspended over uncertainty about the new government and payment delays.

Syria imported food from Russia during the Assad era and it is unclear how relations between Damascus and Moscow will take shape under the new government.

“Where it is difficult, we have to be there with our food. We are open to supplying our food and if Syria needs food — then we are there,” Mr. Koval told Reuters.

Ukraine’s exports were buffeted by Russia’s February 2022 invasion, which severely reduced shipments via the Black Sea.

Ukraine has since broken a de facto sea blockade and revived exports from its southern port of Odesa.

Kyiv traditionally exports wheat and corn to Middle Eastern countries, but not to Syria.

Traders say that only about 6,000 metric tons of Ukrainian corn reached the Syrian market in the 2023/24 season, out of a total corn export volume of 29.4 million tons.

However, small parcels of Ukrainian-origin grain may have reached Syria from neighboring countries, which were not captured by those statistics, analysts said.

Since the fall of Assad, a close Russian ally, Kyiv has voiced a desire to restore relations with Syria.

Foreign Minister Andriy Sybiha said Kyiv was ready “to pave the way for the restoration of relations in the future and reaffirm our support for the Syrian people.” — Reuters

HPV vaccination can prevent cervical cancer

December 16, 2024 | 12:01 am

Cervical cancer is the second most common cancer among women in the Philippines, including those between the ages of 15 and 44, according to the Department of Health (DoH). Annually, nearly 8,000 women in the country are diagnosed with cervical cancer, 50% of whom die from the disease.

Women should see a doctor if they notice unusual bleeding between periods, after menopause, or after sexual intercourse; increased or foul-smelling vaginal discharge; persistent pain in the back, legs, or pelvis; weight loss, fatigue and loss of appetite; vaginal discomfort; and swelling in the legs.

The main cause of cervical cancer is persistent infection with high-risk types of human papillomavirus (HPV). If left untreated, persistent HPV infection causes 95% of cervical cancers.

To promote prevention and early detection, the World Health Organization (WHO) recommends HPV vaccination. It also recommends regular cervical cancer screening for women from the age of 30. HPV vaccination, cervical cancer screening, and cervical cancer treatment are the three “elimination pillars” of the WHO “Global strategy to accelerate the elimination of cervical cancer as a public health problem.” If the three pillars of elimination are established, the Philippines could avert nearly a million deaths due to cervical cancer over the next century.

The HPV vaccine has been proven to be safe and effective at protecting against HPV and reducing HPV infections, which reduces the risk of cervical cancer and other cancers (vaginal, vulval, and penile cancer, among others) caused by HPV, according to the US Centers for Disease Control and Prevention (CDC).

The Pediatric Infectious Disease Society of the Philippines (PIDSP) and Philippine Foundation for Vaccination (PFV) recommend a two-dose HPV vaccine series for females ages nine to 14 years, and a three-dose series for females ages 15 years and older. The Philippine Society for Microbiology and Infectious Diseases (PSMID) recommends HPV vaccination for females until the age of 26 years for the prevention of cervical cancer and anogenital warts.

Some countries have also chosen to vaccinate boys to further reduce the prevalence of HPV in the community and to prevent cancers in men caused by HPV, the WHO said. PIDSP and PFV recommend HPV vaccine for males nine to 18 years of age for the prevention of anal and genital warts and anal cancer. PSMID recommends HPV vaccine for males 16-26 years of age for the prevention of genital warts and anal cancer.

Substantial declines in high-grade cervical disease and genital warts among vaccine-eligible women have been observed in Australia, one of the first countries to fund and implement a National HPV Vaccination Program. In 2007, Australia launched a nationwide HPV vaccination drive for the prevention of HPV infection and associated disease using the quadrivalent HPV vaccine, initially for girls only and extended to boys in 2013, with uptake rates among the highest observed worldwide.

A paper published in the October 2018 issue of the open-access medical journal Eurosurveillance reported the impact of this national program on HPV prevalence and associated disease burden and estimated the potential impact of adopting a nonavalent HPV vaccine.

The paper reported substantial declines in high-grade cervical disease and genital warts among vaccine-eligible women in Australia.

A nonavalent HPV vaccine is expected to prevent up to 90% of cervical and 96% of anal cancers. Of an estimated 1,544 HPV-associated cancers in 2012, 1,242 would have been preventable by the nonavalent HPV vaccine and an additional 187 anogenital cancers by the 9vHPV vaccine.

Vaccination using quadrivalent HPV vaccine has had a large demonstrable impact on HPV-related disease in Australia. A switch to a nonavalent HPV vaccine could further reduce the HPV-associated cancer burden. With continued high coverage among both males and females, elimination of vaccine-type HPV disease seems achievable in Australia, the paper concluded.

Vaccines help save millions of lives every year around the world. They are one of the best tools in the fight against infectious diseases, including persistent HPV infection, the main cause of cervical cancer. Vaccines can lower the burden of care on families and healthcare systems, reduce disruption to our lives and livelihoods, lower health inequities and contribute to broader wellbeing and prosperity. The HPV vaccine gives us hope that cervical cancer could be eliminated within our lifetimes.

Teodoro B. Padilla is the executive director of Pharmaceutical and Healthcare Association of the Philippines which represents the biopharmaceutical medicines and vaccines industry in the country. Its members are in the forefront of research and development efforts for COVID-19 and other diseases that affect Filipinos.

Lynk & Co PHL opens fourth dealership

December 16, 2024 | 12:01 am

VELO_PAGE2_image7 — Lynk & Co Quezon Avenue is located at 108 Quezon Ave., corner Gregorio Araneta Avenue, Quezon City. — PHOTO FROM LYNK & CO PHILIPPINES

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New vehicles arriving in 2025 teased

THE OPENING of Lynk & Co Quezon City, the fourth completed showroom (the others being Alabang, Bulacan, and Angeles) of the United Asia Automotive Group, Inc.-administered brand in the Philippines, truly marks promising beginnings.

Located at 108 Quezon Avenue corner Gregorio Araneta, the 3S (sales, service, and spare parts) facility is owned and operated by Paramount Cars, Inc. — its first dealership since assuming the name. Addressing guests during the formal inauguration, Paramount Cars, Inc. Jessica Lee-Sy declared with a smile, “We are really excited and believe in this partnership so much that even before our contract signing (with UAAGI) in November, we had already put our signage up in September.”

Paramount Cars, Inc. has its roots in the Philippine Business Initiatives, Inc. (PBII) — an enterprise formed in 2011. Amid the evolution of both the company and the automotive landscape, Mrs. Lee-Sy said, “With all these changes, especially the people behind PBII, I believe that we should make a new identity, a new brand, and a new company. We have decided to name this company Paramount Cars, Incorporated.”

Mrs. Lee-Sy noted that the auto sector has become “more competitive,” adding, “There are now 21 Chinese brands in the Philippines (on top) of the other brands coming from other countries.” She declared that Paramount Cars will not be solely focused on profit but also on delivering “top-notch products and services,” while “creating value for customers.”

UAAGI Chairman Rommel L. Sytin promised to provide Paramount Cars with all the support the company needs for its Lynk & Co dealership, and expressed hope that the partnership will deepen and grow through the opening of dealerships for other brands under UAAGI’s stewardship here (Chery, Foton, and BAIC).

Lynk & Co Quezon Avenue boasts 290sq.m. of office space and a 221-sq.m. showroom. The Swedish-designed-and-engineered Lynk & Co vehicles are now available for reservation. “The dealership features a full-service work bay, ensuring that customers can conveniently maintain their vehicles without leaving the city,” said the company in a release.

Meanwhile, UAAGI Brand Manager Timothy Sytin revealed the models Lynk & Co Philippines will release in the coming year. These include the 09 EM-P midsize luxury crossover SUV (in either six- or seven-seater guise), expected in Q2. “Lynk & Co decided to make the interior spacious while not missing out on the tech features the brand has to offer,” he said. Fitted with an air suspension system that’s adjustable based on loading, the 09 variant to be brought in is the plug-in electric hybrid version that can muster 200 kilometers on pure electric mode and up to 1,400 kilometers of range (reportedly the longest in the segment) when combined with the turbocharged 2.0-liter internal combustion engine.

The 06’s EM-P version, boasting 126 kilometers of pure electric range and a combined range of 1,300 kilometers, is projected to arrive in Q2, as is the face-lifted 01 PHEV.

Finally, customers can look forward to the arrival of the 08 EM-P (in Q3), said to be the “technical twin” of the Volvo XC40. It is motivated by a 1.5-liter turbocharged engine and two electric motors. Peak torque is an incredible 905Nm — helping the vehicle sprint from a standstill to 100kph in 4.6 seconds. Pure electric range is at 245 kilometers; combined with the internal combustion engine, the figure grows to 1,400 kilometers as well.

Lynk & Co Quezon may be contacted at 0919-069-9430 or through rex@lynkco-qa.com to request for a quote and to book a test drive. For more information and updates, follow Lynk & Co Philippines’ social media accounts LynkCoPhilippines (Facebook) and @lynkco_philippines (Instagram), or visit the official website LynkCo.ph. Sales teams in the following locations have also been activated, as work on the physical showrooms are being commenced: Bonifacio Global City, Iloilo, and North EDSA.

Debt yields mixed on easing bets

December 16, 2024 | 12:01 am

YIELDS on government securities (GS) ended mixed last week on expectations of rate cuts from the Bangko Sentral ng Pilipinas (BSP) and the US Federal Reserve at their final policy meetings for the year.

Yields, which move opposite to prices, inched up by an average of 0.32 basis point (bp) week on week, data from the Bloomberg Valuation Service Reference Rates as of Dec. 13 published on the Philippine Dealing System’s website showed.

Rates at the short end of the curve were mostly up, with the 91- and 182-day Treasury bills (T-bills) jumping by 14.49 and 8.47 bps to 5.8404% and 6.0571%, respectively. On the other hand, the yield on the 364-day paper inched down by 0.65 bp to 6.0739%.

Meanwhile, at the belly of the curve, yields mostly went down, as the three-, four-, five-, and seven-year Treasury bonds (T-bonds) saw their rates fall by 0.76 bp (to 5.912%), 2.86 bps (5.8924%), 3.53 bps (5.8852%), and 2.5 bps (5.8832%), respectively. Only the two-year bond climbed, rising by 2.63 bps to end at 5.9457%.

Lastly, at the long end, rates of the 20- and 25-year T-bonds fell 7.43 bps and 7.64 bps to 6.0982% and 6.0962%, respectively. Meanwhile, the 10-year paper went up by 3.26 bps to yield 5.9172%.

GS volume traded increased to P35.73 billion on Dec. 13 from P35.18 billion a week prior.

“Local participants remained cautious ahead of the BSP and Fed policy decisions [this] week, which explains the muted action in the domestic bond market,” a bond trader said in an e-mail.

“Both the Fed and the BSP will have their policy meetings [this] week where most investors are expecting a hawkish 25-bp cut for both,” Dino Angelo C. Aquino, vice-president and head of fixed income at Security Bank Corp., said in an e-mail.

The Fed is holding its final policy meeting for the year on Dec. 17-18. Markets fully expect a cut at the upcoming meeting, but only price a roughly 24% chance of another one in January, with March the most likely point for another move, according to CME’s FedWatch tool, Reuters reported.

The US central bank kicked off its easing cycle in September with an outsized 50-bp cut and followed it up with a 25-bp reduction at its November review, bringing the fed funds rate to the 4.5%-4.75% range.

The Fed will also give updated economic and interest rate projections at this week’s meeting.

Meanwhile, the BSP’s Monetary Board will meet to discuss policy on Dec. 19 (Thursday). A BusinessWorld poll conducted last week showed that 13 out of 16 analysts expect the Monetary Board to reduce benchmark borrowing costs by 25 bps for a third straight meeting, which would bring the policy rate to 5.75%.

The BSP began its easing cycle in August with a 25-bp cut and slashed rates by another 25 bps in October to bring the target reverse repurchase rate to 6%.

The release of November US inflation data last week also affected GS yields, both analysts said. The US consumer price index data, while within expectations, caused US yields to continue rising amid Fed rate bets, Mr. Aquino noted.

“While this latest US consumer inflation print came in within expectations, views of a Fed rate cut remains intact. However, near-term worries of inflationary risks from the potential impact of tariffs by the incoming Trump administration pushed short-term yields higher,” the bond trader said.

For this week, the Fed and BSP policy meetings will be the main drivers for GS yield movements, both analysts said.

“The bond market will remain anchored on the anticipated policy rate decisions by the BSP and the Federal Reserve. Traders will also take cues from hints by central bankers regarding their projected actions on monetary policy next year,” the bond trader said.

“Depending on the manner of communication specifically by the Fed, yields could see some relief once these event risks are taken out,” Mr. Aquino added. — Karis Kasarinlan Paolo D. Mendoza with Reuters

Style (12/16/24)

December 16, 2024 | 12:01 am

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SM offers holiday beauty treats

SM BEAUTY is inviting beauty enthusiasts with exclusive offers from various brands this holiday season, running until Dec. 28. At the Ever Bilena Makeup Bar in SM North EDSA and SM Baguio, customers can fill a medium bag with Ever Bilena products for only P499 or a large bag for P599, then customize it with stickers at their booth. Another holiday shopping event is the Spotlight Advent Calendar Experience at SM Mall of Asia and SM Megamall, where customers can play a pachinko ball game for P999 and win a mystery gift from their life-sized Advent calendar.

Spatio’s holiday gift shopping experience

SPATIO at Opus Mall offers a unique holiday shopping and wellness experience with its wide range of lifestyle brands and services. Fashion enthusiasts can explore local designers like Rhett Eala, Jorel Espina, and Pinas Sadya, along with other brands such as Zarah Juan, Orias, Arnel Papa, Kathryn Fanlo, and Alchemista for a variety of styles. Christmas gifts can include luxury items from international brands like Tissot and Philip Stein, exclusive sneaker releases from Sole Academy, and home essentials from Martha Stewart. For customers looking to get pampered this holiday season, Spatio offers personal grooming services from Lay Bare Plus and Bruno’s Barbers, along with coffee at We The People and refreshments from Bar Shu. Sole Care provides premium shoe care services, while the Adidas customization booth offers exclusive charms and pins until the end of December. For more information, visit Spatio on their social media pages.

Anko offers gift ideas under P500

STRUGGLING to find the perfect holiday gift on a budget? Anko offers 12 affordable options under P500. The Waterlily and Lotus Reed Diffuser (P110) is a calming gift, while Fragrant Candles in Tropical Spritz, Morning Mist, Ocean Shore, and Summer Picnic are priced at P220 each. French Fry/Chip Clips (10 or four pieces) are available for P90, and the Three-Shelf Angled Organizer can help declutter for just P260. For creative gift options, the Animal Origami Set is priced at P140, while the Paint by Numbers Mini Kit is available for P220. The Adjustable Phone Tripod at P240 makes capturing holiday memories easy, and the Glass Bubble Vase (P440) adds charm to any space. The Black LED Mirror at P440 offers perfect lighting for a flawless holiday look, while White Coil Round Placemats and Maison Salad Bowls are priced at P200 each. Cooking enthusiasts can enjoy Silicone Spatulas, Color Nylon Tongs, and Wooden Spoons at P60 each, and beauty lovers will like the Mini Juicy Gloss (a five-pack) for P350, Instant Blush Drops in Rose for P260, and OXX Liquid Lipstick (a four-pack) for P260. To find these items, visit Anko at the ground floor of Glorietta 2, Palm Drive, Makati City.

Swarovski unveils Holiday 2024 with Ariana Grande

SWAROVSKI has launched its Holiday 2024 campaign, “Party of Dreams,” starring Grammy-winning singer and actress Ariana Grande as its Global Brand Ambassador. The ad features Ms. Grande, adorned in pieces from the Millenia and Matrix Crash collections, stepping into a nightclub inspired by Swarovski’s signature colors and codes. To experience the full Swarovski fantasy, visit them in-store or online at Trunc.ph, Zalora.com.ph, and Rustans.com.

Meet SwagBot, the AI-powered robot cattle herder preventing soil degradation

December 16, 2024 | 12:01 am

CANBERRA — With four wheels and a bright red paint job, SwagBot is not your average cow.

But researchers at the University of Sydney say this autonomous robot is on its way to becoming the world’s first “smart cow,” able to make cattle farming more efficient and environmentally friendly.

First launched in 2016 as a simple herding robot capable of traversing rugged terrain, SwagBot has been updated with sensors, artificial intelligence (AI) and machine learning systems.

The battery-powered SwagBot can now determine the health, type and density of pasture and monitor the health of livestock.

It then uses this information to autonomously herd cattle to the best pastures and move them before land is overgrazed and soil becomes degraded. It can also feed data back to farmers.

“Once the cattle are used to the robot, they will follow the robot around,” said University of Sydney professor of robotics and intelligent systems, Salah Sukkarieh, whose team made SwagBot.

“You want to move the animals to the right part of the pasture where there is good protein, good carbs,” he said. “You want to be able to do that in a very fluid manner without fences.”

Australia is one of the world’s biggest beef exporters, with around 30 million cattle spread across a vast landscape that is often dry and whose pastures can be poor.

Farmers constantly assess how many animals their land can support but many have little control over where the animals graze within large enclosed areas. Overgrazing can lead to poorer soils that support less plant and animal life.

“It (SwagBot) allows us to assess our paddocks in real time in a much more detailed way,” said Erin O’Neill, a part-time farmer who attended a recent demonstration of the robot in a field north of Sydney.

“That allows us to know what bits of pasture are most nutritious, particularly if you’ve got cattle like we do that are pregnant and therefore need a higher quality pasture to aid them through that pregnancy,” she said.

SwagBot, which is still in development, is part of a growing trend in agriculture towards robotics that can make production more efficient and reduce reliance on workers in places such as Australia where hiring people in remote locations can be difficult. — Reuters

Ayala Land shares dip despite developments

December 16, 2024 | 12:01 am

SHARES in Ayala Land, Inc. (ALI) fell last week despite news of the property giant raising P2.78 billion by selling 75 million shares of AREIT, Inc.

Data from the Philippine Stock Exchange showed a total of 68.61 million ALI shares worth P1.88 billion were traded from Dec. 9 to 13, making it the fourth most actively traded issue based on value turnover during the week.

The listed property developer’s shares closed at P26.60 each on Friday, 6.3% lower than its Dec. 6 close of P28.40. Year to date, the stock declined by 22.8%.

Alexandra Margaux Denise G. Yatco, equity analyst at Regina Capital Development Corp., said that several key factors may have influenced the price action movement of Ayala Land. These include recent project kick-offs, higher completion rates, and residential and commercial bookings.

Additionally, Ms. Yatco also said that company-specific developments, such as receiving approval to gain full control of Cebu District Property Enterprise and plans to use Gatewalk Central as a strategic asset to enhance its presence in the Visayas region, could also be a factor.

“However, factors such as potential tariff adjustments and higher operating costs brought about by mall renovations could continue to weigh upon the firm,” she said in an e-mail.

For Aniceto K. Pangan, equity trader at Diversified Securities, Inc., the downtrend of Ayala Land may be due to “negative sentiments” regarding the latest economic developments.

The central bank, he said, may choose to maintain overnight lending rates given the rise in local inflation, and additionally, the peso depreciated last week, which further supports the case for keeping the overnight lending rates steady.

Headline inflation in November accelerated to 2.5% year on year from 2.3% in October, settling within the Bangko Sentral ng Pilipinas’ (BSP) 2.2%-3% forecast for the month. However, this was slower than the 4.1% posted a year earlier.

For the 11 months to November, inflation averaged 3.2%, slightly higher than the BSP’s 3.1% full-year baseline forecast.

Moreover, the BSP began its easing cycle in August with a 25-bp rate cut and then proceeded to deliver another 25-bp rate cut in October, which brings the key rate to 6%. BSP’s Monetary Board will hold its final policy meeting for the year on Dec. 19.

Last week, Ayala Land raised P2.78 billion by selling 75 million shares of AREIT, Inc., its real estate investment trust, at a price of P37 per share. The sale was done through a placement agreement with BPI Capital Corp., the investment banking division of the Bank of the Philippine Islands, and global financial services firm UBS AG Singapore Branch. These offered shares were sold to qualified institutional buyers both within and outside the United States, the company said.

The property developer added that the proceeds from the block sale will be settled on Dec. 12, which is subject to the terms and conditions of the placement agreement.

“This move could hold several meanings for the company’s outlook,” Ms. Yatco said, highlighting that the latest development of Ayala Land may post mixed sentiments from the market.

She noted that by selling AREIT shares, the property developer is reallocating its resources, which could help support its other business ventures. This move, she said, could signal confidence in AREIT’s projected profitability.

“If the market views the sale as a positive, then the stock could see a short-term boost,” she added. However, she also cautioned that if the sale is seen negatively, it could raise concerns over Ayala Land’s long-term strategy, which could potentially lead to a drop in stock price.

“The sale of their AREIT shares was mainly for fundraising to boost their capital expenditure for expansion,” Mr. Pangan said in a Viber message. He added that the company’s outlook remains positive, given the overall trend indicating a decrease in overnight lending rates, where notably, the offering was oversubscribed.

Mr. Pangan also said that with the continued lowering of overnight lending rates, this could sustain Ayala Land’s growth momentum at double-digit rates.

Ayala Land’s consolidated revenues increased by 24.4% year on year to P40.94 billion in the third quarter. This brought its nine-month top line to P125.21 billion, rising by 26.6%. During the July-September period, its attributable net income went up by 14.7% to P8.03 billion. The property developer’s nine-month attributable bottom line rose by 15% to P21.16 billion.

“Overall, [Ayala Land] has generally seen stable residential bookings, lot sales, and enhanced operational procedures, with its [third quarter] earnings seeing an increase in [net income] and revenues,” Ms. Yatco said.

She added that the bulk of its top line growth could be due to real estate revenues, which continue to advance its operations.

Additionally, investors who are looking to expand their property portfolio might consider adding the Ayala-led property developer given its historical performance, as well as upcoming launches and plans for mall and hotel renovations, Ms. Yatco said. She placed Ayala Land’s support levels at P26.30, while its resistance levels are at P28.

“There is a notable downward trend filled with several red candles, with the stock closing in the oversold region,” she said. Ms. Yatco added that selling pressure continues to persist, yet a potential reversal may be seen in the upcoming weeks.

For Mr. Pangan, he pegged immediate support at P26.40 per share, while immediate resistance is at P27.35 per share. — Abigail Marie P. Yraola

Analysts’ Expectations on Policy Rates (December 2024)

December 16, 2024 | 12:00 am

THE BANGKO SENTRAL ng Pilipinas (BSP) is expected to continue its rate-cutting cycle at its last policy review for the year on Thursday, analysts said. Read the full story.

How PSEi member stocks performed — December 13, 2024

December 16, 2024 | 12:00 am

Here’s a quick glance at how PSEi stocks fared on Friday, December 13, 2024.

Volatility likely as market eyes Fed, BSP reviews

December 15, 2024 | 9:00 pm

THE STOCK MARKET may see heightened volatility this week as investors await the policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP).

On Friday, the Philippine Stock Exchange index (PSEi) declined by 0.37% or 24.84 points to close at 6,616.51, while the broader all shares index increased by 0.08% or 3.34 points to 3,752.73.

Still, week on week, the PSEi climbed by 1.67% or 112.63 points from its 6,729.14 close on Dec. 6.

“The local market is still moving sideways with a bearish bias as investors maintain a cautious stance, dealing with lingering headwinds while waiting for positive leads,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.

“Chart-wise, the market has so far been unable to get past its 10-day exponential moving average. On a positive note, the market is holding its position above the 6,600 level,” Mr. Tantiangco said.

For this week, the Fed and BSP meetings will be the main trading drivers for the market, he said.

“Investors are expected to look forward to the policy rate decisions of the Federal Reserve and the Bangko Sentral ng Pilipinas. A rate cut from the two as well as hints of further easing are expected to give a boost to sentiment which in turn could help the market achieve a positive close,” he added.

“We expect heightened trading activity and price movement this week as investors anticipate and react to the upcoming policy rate decisions of the Federal Reserve and BSP. Both are expected to cut their respective interest rates by 25 basis points (bps), which should encourage some bullishness,” Juan Paolo E. Colet, managing director at Chinabank Capital Corp., said in a Viber message. “Investors, however, will be keeping a very close eye on each institution’s outlook for rate cuts next year. Any hint of fewer, slower, or no rate cuts could trigger stock market volatility.”

Mr. Colet put the PSEi’s immediate support at 6,550 and resistance at 6,750-6,850.

The Fed will hold its last policy meeting for the year on Dec. 17-18, while the BSP’s Monetary Board is scheduled to have its own review on Dec. 19. Markets widely expect both central banks to continue their respective easing cycles and cut benchmark interest rates by 25 bps this week.

Mr. Tantiangco added that investors will also monitor the peso’s performance against the dollar this week.

“A further depreciation of the local currency may weigh on the bourse,” he said.

He placed the PSEi’s immediate support at 6,600 and major resistance at 6,000.

“From a valuation standpoint, the local market remains at attractive levels and is hence good for bargain hunting. However, investors are expected to continue waiting for positive catalysts before getting into the market strongly,” Mr. Tantiangco added. — Sheldeen Joy Talavera

Cautious trading seen before central bank policy decisions

December 15, 2024 | 9:00 pm

THE PESO is seen trading sideways against the dollar this week as the Bangko Sentral ng Pilipinas (BSP) and US Federal Reserve hold their last policy meetings for 2024.

The local unit closed at P58.47 per dollar on Friday, weakening by 23 centavos from its P58.24 finish on Thursday, Bankers Association of the Philippines data showed.

Week on week, the peso likewise depreciated by 73.5 centavos from its P57.735 finish on Dec. 6.

The peso declined on Friday amid a stronger dollar following the release of key US inflation reports that could affect the Fed’s rate-cut cycle, a trader said by phone.

The move of Indonesia’s central bank to defend the rupiah also affected regional currencies on Friday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message.

The dollar headed for its best weekly performance in a month on Friday, as investors priced in the possibility of the Federal Reserve cutting rates more slowly next year, Reuters reported.

The US currency also rose against the yen after reports that the Bank of Japan could forgo a rate hike at its meeting this week.

The dollar index, which measures the currency against six others, was up 0.037% at 107, set for a weekly gain of nearly 1%, its biggest in a month.

US data on Thursday showed the job market is gradually cooling in line with expectations, while producer price inflation helped reinforce the market’s current scenario of a Fed cut on Dec. 18, but a slower pace of reductions in 2025.

Markets fully expect a cut at the upcoming meeting, but only price a roughly 24% chance of another one in January, with March the most likely point for another move, according to CME’s FedWatch tool.

The dollar rose 0.69% to 153.695 yen, its highest since late November.

Meanwhile, Indonesia’s central bank has intervened in the foreign exchange (FX) market in what it called a “bold” way to maintain market confidence in the rupiah, which fell to a four-month low against the dollar earlier on Friday.

“We entered the market with a quite bold triple intervention,” Bank Indonesia’s head of monetary management department, Edi Susianto, told Reuters.

The triple intervention is referring to interventions the central bank conducted in the spot FX market, domestic non-deliverable forwards and buying of government bonds in the secondary market.

For this week, the trader said the peso’s movement against the dollar will depend on the policy decisions of the Fed and the BSP.

The trader sees the peso moving between P58.25 and P58.75 per dollar this week amid “cautious trading” before the central banks’ reviews, while Mr. Ricafort expects the local unit to range from P58.15 to P58.65.

The Fed will hold its last policy review for the year on Dec. 17-18. Investors bet that Fed Chair Jerome H. Powell will signal a pause in policy easing after a widely expected 25-basis-point (bp) rate cut this Wednesday, Reuters reported.

The US central bank started its easing cycle in September with a 50-bp cut and followed it up with a 25-bp reduction at its November review, bringing the fed funds rate to the 4.50%-4.75% range.

Meanwhile, a BusinessWorld poll conducted last week showed that 13 out of 16 analysts expect the BSP Monetary Board to reduce benchmark rates by 25 bps at its policy meeting on Dec. 19 (Thursday), which would bring the target reverse repurchase rate to 5.75% from the current 6%.

The BSP kicked off its rate-cut cycle in August with a 25-bp reduction and slashed borrowing costs by another 25 bps in October. — A.M.C. Sy with Reuters