How PSEi member stocks performed — February 13, 2025
Here’s a quick glance at how PSEi stocks fared on Thursday, February 13, 2025.
China urges Philippines to reconsider keeping US Typhon missile system
By Adrian H. Halili, Reporter
THE PHILIPPINES should “change its course” by reconsidering its plan to keep US Typhon missile launchers, the Chinese Foreign Ministry said.
“We call on the Philippines to change its course and make a strategic choice that truly serves the fundamental interest of itself and its people, rather than staying on the wrong path and hurting the Philippines itself when it comes to issues like Typhon,” Chinese Foreign Ministry spokesperson Guo Jiakun told a news briefing in Beijing late Wednesday.
Mr. Guo said this in response to President Ferdinand R. Marcos, Jr.’s remark that he was willing to pull out the US Typhon missile once China stops its aggression in the South China Sea.
Foreign Affairs spokesperson Ma. Teresita C. Daza did not immediately reply to a WhatsApp message seeking comment.
A United Nations-backed tribunal based in The Hague in 2016 voided China’s claim to more than 80% of the waterway Sea for being illegal. China has ignored the ruling.
Manila and Beijing have repeatedly clashed in the disputed waterway, with both sides accusing each other of raising tensions.
The Typhon missile system was deployed by US forces to the Philippines in April last year as part of their Balikatan or “shoulder-to-shoulder” military exercises. The Philippines had said the deployment was temporary, but they have since remained in the country, drawing the ire of the Chinese government.
“It has breached such commitments, claiming they would acquire its own midrange system and field these deterrent capabilities, and linking the South China Sea issue with the Typhon system,” Mr. Guo said.
He added that the stationing of the Typhon missiles in the Philippines would severely disturb the peace and stability of the region and harm the security of other countries.
“China will not sit idly by when its security interests are harmed or threatened,” Mr. Guo said. “Countries in the region will by no means accept this move that goes against the trend of the times.”
The Philippine Army earlier said the US Typhon missile launchers would not be used for live-fire exercises.
Meanwhile, Philippine Foreign Affairs Secretary Enrique A. Manalo said he would meet with international partners from the UK and Germany to discuss international security issues and seek deeper bilateral ties.
Mr. Manalo would visit Munich and London from Feb 14 to 19, the Department of Foreign Affairs (DFA) said in a statement.
The DFA said that he is expected to exchange views with several international partners on regional developments and discuss means to further strengthen bilateral relations, including the commitment to safeguard a rule-based international order.
He is scheduled to meet with the US secretary of state and the European Commission’s vice-president and high representative for Foreign Affairs and Security Policy on the sidelines of the 61st Munich Security Conference on Feb. 14-16.
The agency added that Mr. Manalo would also participate in a roundtable discussion during the event. “From Munich, the secretary will proceed to London to hold bilateral meetings with UK officials,” it added.
Mr. Manalo is expected to hold separate dialogues with officials from UK-based think tanks Chatham House and Asin House.
INDIAN ARMS DEAL
Meanwhile, India expects to sell short-range missiles to the Philippines this year in a deal worth more than $200 million for New Delhi’s second major defense export contract with Manila, Indian sources told Reuters.
The Akash missile system developed by India’s defense research body has drawn interest from the Philippines, which has told New Delhi it would make an order in the fiscal year that begins in April, said three sources.
All the sources spoke on condition of anonymity because the matter is a sensitive one.
The surface-to-air missile system with a range of up to 25 kilometers was exported to Armenia last year in a $230-million deal, the sources said, adding that the Philippine sale is expected to be bigger than the Armenian deal.
However, they did not reveal the number of missiles and accompanying systems, including radars, involved.
India’s Bharat Dynamics Ltd., the maker of the missiles, was one of the exhibitors at last year’s Asian Defense and Security Exhibition in Manila.
The company and India’s Defense Ministry did not immediately respond to requests for comment.
Arsenio R. Andolong, a Philippine defense spokesman, declined to comment on the specifics of any deal or on procurement plans, but said the country’s armed forces had “manifested it requires these capabilities.”
The expected deal would follow India’s $375-million sale of the mid-range BrahMos supersonic cruise missile to the Philippines in 2022.
The purchase comes at a time when Manila is building its military strength as tension escalates with Beijing on overlapping claims in the busy waterway of the South China Sea, where the two have clashed in recent years.
India is the world’s biggest arms importer but is stepping up domestic production and boosting defense exports to counter China’s military strength and influence in its neighborhood after their troops clashed on the Himalayan border in 2020.
India’s exports of defense equipment, including arms and ammunition, have jumped nearly 150% since 2020 to cross $2.4 billion in the fiscal year that ended in March 2024.
However, its arms exports are lower than those of nations like Australia and South Korea, and far below those of China, the world’s fourth-largest arms exporter.
The Armed Forces of the Philippines chief on Wednesday said the country was looking to buy more military hardware to modernize its arsenal, including additional BrahMos missiles from India and at least two submarines.
“We are getting more of this (BrahMos system) this year, and in the coming years,” General Romeo S. Brawner, Jr. said in a speech to top businessmen in the Philippines, but did not mention the Akash missile system. — with Reuters
Senatorial bets urged to disclose stance on Sara impeachment and trial
SENATORIAL CANDIDATES in this year’s midterm elections should disclose their stance on Vice-President Sara Duterte-Carpio’s impeachment, lawmakers said on Thursday.
Candidates’ stance on Ms. Duterte’s looming impeachment trial would reveal how they stand on issues involving corruption and public accountability, they added.
“They should include in their platforms how they intend to decide on those who commit constitutional violations,” Assistant Majority Leader and Taguig Rep. Amparo Maria J. Zamora said in a statement.
“This is a big challenge and litmus test as to how strong the values of our candidates are when it comes to public service,” she added.
The Office of the Vice-President did not immediately reply to an e-mail and Viber message seeking comment.
More than 200 congressmen last week filed and signed an impeachment complaint against Ms. Duterte, more than the one-third vote required by the Constitution for her to be impeached, paving the way for her trial by the Senate.
Filipinos will pick a new set of congressmen and thousands of local officials on May 12, but the key contest will be for 12 spots in the influential 24-seat Senate, which would try the embattled vice-president as an impeachment court.
“Voters should no longer base their preferences on popularity or personality politics,” said Party-list Rep. Ramon Rodrigo L. Gutierrez, a prosecutor-congressman in the impeachment trial.
The senatorial race will feature allies of Mr. Marcos and Ms. Duterte who will become jurors in the Senate impeachment trial. At least 16 senators must vote to convict Ms. Duterte to remove her from office and bar her from running for office in the future.
Mr. Marcos is limited to a single six-year term under the 1987 Constitution and is expected to groom a successor, while Ms. Duterte would be eligible to run in 2028 if she survives the impeachment.
Senators only need to convict Ms. Duterte of one impeachment article for her to be ousted, Manila Rep. Ernesto M. Dionisio, Jr. told a news briefing. “You can file an impeachment complaint with just one article. So, one should be sufficient.”
The ouster charges consisted of seven articles of impeachment, including allegations of plotting the assassination of the President, misusing secret funds, amassing unexplained wealth and committing acts of destabilization.
Ms. Duterte has denied any wrongdoing, including having threatened to get Mr. Marcos assassinated in case she herself was killed. She earlier said her lawyers are busy preparing for her defense.
Prosecutors in Ms. Duterte’s trial should secure her conviction by focusing on the allegations that can be easily proved by documents from state auditors and the Budget department, Neri J. Colmenares, a party-list nominee in the midterm elections, said in a separate statement. — Kenneth Christiane L. Basilio
Comelec on track to finish printing ballots by March
By Chloe Mari A. Hufana, Reporter
THE Commission on Elections (Comelec) has printed more than 27 million ballots — 36% of the required total — for the May 12 midterm elections, and is on track to finish it by mid-March, its chairman said on Thursday.
Speaking at the newly opened ballot verification satellite office in Amoranto Sports Complex in Quezon City, Comelec Chairman George Erwin M. Garcia said they have exceeded their daily printing targets.
However, verification efforts remain a challenge, prompting an increase in personnel and machines to expedite the process.
He said Comelec has about 260 verification machines at the National Printing Office and about 600 verifiers. Half of them serve the day shift and the other half are assigned to the night shift, he told reporters.
Mr. Garcia said they have 200 machines at the Amoranto verification satellite but plan to increase this to 250.
“This way, we would need around 500 emergency job-order workers to ensure we have a night shift as well,” he said. “But for today, we only have a day shift. As for the night shift, we might start tomorrow.”
Rejected ballots are few, he added, with most defects attributed to printing issues such as smudges and alignment errors. Defective ballots are immediately flagged for reprinting to prevent a shortage at election precincts.
To ensure security and efficiency, Comelec has implemented stringent quality control. Each verified ballot is vacuum-sealed and securely packed to prevent damage.
The agency has also placed replacement voting machines at the municipal level and established 110 repair hubs nationwide.
Comelec also said it would not reprint ballots for withdrawn candidates. Votes for them would instead be considered stray.
Ballot verification is expected to be fast-tracked in the coming weeks and would be completed by April 14, Mr. Garcia said.
The campaign period for senatorial and party list candidates started on Feb. 11, while local bets will start their campaign on March 28.
Up for grabs in the May 12 elections are 317 congressional seats and thousands of local posts. The biggest battle will be for 12 spots in the 24-seat Senate, a chamber packed with political heavyweights and wielding outsized influence.
Immigration bureau told to hasten deportation of foreign POGO workers
A PHILIPPINE senator on Thursday called on the Bureau of Immigration (BI) to fast-track the deportation of foreign nationals apprehended due to their involvement in Philippine offshore gaming operators (POGOs).
“I’ll give (the BI) a deadline in two weeks do something about it… I want them accounted for and they are deported before the end of the month,” Senator Rafael T. Tulfo told a Senate hearing.
Mr. Tulfo said that the 438 foreign nationals allegedly involved in POGOs should immediately be deported.
BI legal division Chief Arvin Cesar G. Santos said that the agency would comply with the deadline and “submit an official report to the Senate committee.”
According to the Philippine Amusement and Gaming Corporation, there were 42 internet gaming licensees, seven content providers, and 11 support providers that were shut down, as of Dec. 31.
A Senate Committee report, however, found that illegal financial activities and scam hubs have persisted despite moves to outlaw POGOs. The report also said that public officials were also involved in facilitating crimes, from human trafficking to money laundering.
President Ferdinand R. Marcos, Jr. Issued last year an executive order, banning POGOs due to their links to organized crime, such as human trafficking. This is in line with his policy directives during his third State of the Nation Address to shut down POGOs by the end of 2024.
In the same hearing, Senator Mark A. Villar raised concern over the potential involvement of government agencies in running these illegal operations.
“Some of their fake documents were marriage certificates, birth certificates and passports of foreign nationals using Filipino names. These illegal agencies that issue fake documents are sure to have connections with various government agencies,” Mr. Villar added.
He said that these agencies might be accomplices in the issuance of fake documents to foreign POGOs.
“We need to look at the angle that there is an inside job. This is the possible reason for the continued entry of foreign nationals into the Philippines using fake documents,” he added. — Adrian H. Halili
LPA monitored outside PAR
THE STATE weather bureau on Thursday said a low pressure area (LPA) that it is monitoring outside the Philippines’ area of responsibility (PAR) had a low chance of developing into a tropical depression.
The LPA was last located 370 kilometers northwest of Pag-asa Island in Kalayaan, Palawan at 8 a.m. on Thursday, the Philippine Atmospheric, Geophysical and Astronomical Services Administration (PAGASA) said in a report.
It has a low chance of developing into a tropical depression within the next 24 hours, it added.
PAGASA is also monitoring the shear line affecting Northern Luzon, and the Intertropical Convergence Zone (ITCZ), which is influencing the weather in Mindanao.
It said the shear line may cause cloudy skies with scattered rain and isolated thunderstorms in Batanes and the Babuyan Islands.
PAGASA flagged possible flash floods or landslides.
It said the ITCZ may result in cloudy skies with scattered rain and thunderstorms in Caraga, the Davao Region, Camiguin, Misamis Oriental, and Bukidnon. It also flagged possible flash floods or landslides.
Meanwhile, PAGASA said the Visayas, Bicol Region, and Romblon may experience cloudy skies with scattered rain and thunderstorms due to the easterlies.
Easterlies could also cause partly cloudy to cloudy skies with thunderstorms in Metro Manila and other parts of the country. — Kyle Aristophere T. Atienza
NOLCOM joins US, Canada drills
BAGUIO CITY — Naval forces attached to the Northern Luzon Command (NOLCOM), joined last Wednesday’s 7th Multilateral Maritime Cooperative Activity (MMCA) off the waters of Northern Luzon.
The Naval Forces Northern Luzon (NFNL), which operates under NOLCOM’s operational control, served as the participating unit representing the Philippine Navy alongside maritime forces from the United States and Canada, said Army Major Al Anthony B. Pueblas, spokesman of the NOLCOM.
The maritime exercises sought to strengthen coordination, improve cooperation, and enhance maritime security among our American and Canadian counterparts, said NOLCOM chief Lt. Gen. Fernyl G. Buca.
NOLCOM, through the NFNL deployed BRP Andres Bonifacio (PS17) and Beechcraft King Air (NV394) in the Division Tactics, Anti-Submarine Warfare, and Communication Exercises, to improve operational readiness.
Mr. Buca explained “NOLCOM’s participation in the 7th MMCA reinforces our commitment to protecting our maritime territory, securing our sovereign rights, and working with our allies to promote regional stability.” — Artemio A. Dumlao
PCO’s Chavez on leave, appoints OIC
PRESIDENTIAL COMMUNICATIONS Office (PCO) Senior Undersecretary Emerald Anne R. Ridao has been appointed officer-in-charge (OIC) of the agency while acting Secretary Cesar B. Chavez is on leave, according to the agency.
In a special order dated Feb. 12, Mr. Chavez said the undersecretary will take care of the “day-to-day operations” of the agency from Feb. 17 to 21.
He said in a separate Viber message to reporters that he will try to work at “full capacity” while on leave. The acting PCO chief did not give a reason why he was going on leave.
Philippine President Ferdinand R. Marcos, Jr. appointed Mr. Chavez, who was also a senior undersecretary at the time, as acting PCO chief in September. — John Victor D. Ordoñez
Peso strengthens vs dollar
THE PESO strengthened against the dollar on Thursday on news of potential Ukraine-Russia peace talks and as the Bangko Sentral ng Pilipinas (BSP) paused its rate-cut cycle.
The local unit closed at P58.06 versus the greenback on Thursday, climbing by 13 centavos from its P58.19 finish on Wednesday, Bankers Association of the Philippines data showed.
The peso opened Thursday’s session weaker at P58.25 against the dollar. It traded within a wide range as intraday best was at P58.02, while its worst showing was at P58.34 versus the greenback.
Dollars exchanged rose to $1.64 billion on Thursday from $1.24 billion on Wednesday.
“The dollar-peso initially traded higher on growing bets that the Federal Reserve will lessen cutting interest rates on the wheels of the higher CPI (consumer price index) print, but was lower in the afternoon after news of Trump and Putin agreeing to negotiate ending the war in Ukraine,” a trader said in a phone interview.
The dollar weakened due to lower global crude oil prices on news of potential Ukraine peace talks, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort likewise said in a Viber message.
US President Donald J. Trump said both Russian President Vladimir Putin and Ukrainian President Volodymyr Zelensky expressed a desire for peace in separate phone calls with him on Wednesday, and Mr. Trump ordered top US officials to begin talks on ending the war in Ukraine, Reuters reported.
The conversations came after Mr. Trump’s Defense secretary earlier said Kyiv would have to give up its long-held goals of joining the NATO military alliance and regaining all of its territory seized by Russia, signaling a dramatic shift in Washington’s approach to the conflict.
In the foreign exchange market, the dollar lost 0.2% to 154.15 yen, having jumped 1.3% overnight following the US CPI data.
US consumer prices rose by the most in nearly 1-1/2 years in January. The closely watched core inflation index, which excludes food and energy prices, rose 0.4% in the month, above forecasts for 0.3%.
With the Federal Reserve already signaling no rush to cut rates further, investors scaled back expectations of more policy easing this year to just 28 basis points (bps), equivalent to just one cut.
“In addition to that, the BSP shocked the market as they expected a cut but they opted to hold key rates in their meeting, which is why the peso reached its high of P58.02,” the trader said.
The Monetary Board on Thursday kept its target reverse repurchase rate unchanged at 5.75%, contrary to market expectations of a 25-bp cut.
The pause came following three consecutive 25-bp reductions since the BSP began its easing cycle in August 2024.
“The Monetary Board noted that domestic growth prospects continue to be firm. However, uncertainty over global economic policies and their impact on the domestic economy has increased significantly,” BSP Governor Eli M. Remolona, Jr. said.
For Friday, the trader expects the peso to move between P57.90 and P58.30 per dollar, while Mr. Ricafort sees it ranging from P57.95 to P58.15. — A.M.C. Sy with Reuters
Stocks climb further before BSP policy decision
PHILIPPINE STOCKS climbed further on Thursday on continued bargain hunting and as the market positioned before the Bangko Sentral ng Pilipinas’ (BSP) policy announcement at the trading session’s close.
The Philippine Stock Exchange index (PSEi) jumped by 1.14% or 69.06 points to close at 6,113.19, while the broader all shares index rose by 0.78% or 28.54 points to end at 3,647.73.
“The local market extended its rise this Thursday as investors continued with their bargain hunting,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message. “Investors also took positions while hoping for positive catalysts from the Bangko Sentral ng Pilipinas’ policy meeting.”
“Philippine shares were bought above the 6,100 mark with many investors keeping an eye out for the latest decision of the BSP, which came out right after trading,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan likewise said in a Viber message.
The BSP’s policy-setting Monetary Board on Thursday kept the target reverse repurchase rate unchanged at 5.75%, contrary to market expectations of another cut.
The pause came following three consecutive 25-basis-point (bp) reductions since the BSP began its easing cycle in August 2024.
A BusinessWorld poll had 19 out of 20 analysts penciling in a fourth 25-bp cut at this week’s meeting amid steady inflation and weak economic growth.
“The Monetary Board noted that domestic growth prospects continue to be firm. However, uncertainty over global economic policies and their impact on the domestic economy has increased significantly,” BSP Governor Eli M. Remolona, Jr. said.
“On balance, uncertainty about the outlook for inflation and growth warrant keeping monetary policy settings steady. Before deciding on the timing and magnitude of further reductions in the policy interest rate, the Monetary Board deems it prudent to await further assessments of the impact of global policy uncertainty and the potential effects of the actual policies,” he said.
All sectoral indices ended higher on Thursday. Mining and oil surged by 2.69% or 200.41 points to 7,630.64; services increased by 2.6% or 50.79 points to 1,998.23; industrials went up by 1.81% or 154.49 points to 8,688.81; holding firms climbed by 1.09% or 55.88 points to 5,171.65; property rose by 0.13% or 3.03 points to 2,255.87; and financials inched up by 0.07% or 1.79 points to 2,256.11.
“Jollibee Food Corp. led the index, rallying 10.72% to P262.40. Bloomberry Resorts Corp. was at the tail end, falling 2.70% to P3.60,” Mr. Tantiangco said.
Value turnover increased to P6.08 billion on Thursday with 824.96 million shares changing hands from the P5.85 billion with 533.86 million issues traded on Wednesday.
Advancers outnumbered decliners, 116 versus 86, while 44 names ended unchanged.
Net foreign selling declined to P369.44 million on Thursday from P455.51 million on Wednesday. — R.M.D. Ochave
Sex education policy review backed
THE Catholic Educational Association of the Philippines (CEAP) backed a government-led review of Comprehensive Sexuality Education (CSE) policies, stressing the need for a balanced and inclusive approach that considers the autonomy of faith-based schools.
In a statement on Thursday, CEAP said it welcomed the initiative led by Education Secretary Juan Edgardo M. Angara to consult stakeholders on the policy’s implementation, emphasizing the importance of clear and well-grounded guidelines.
While acknowledging efforts to curb teenage pregnancies, CEAP raised concerns about potential overlaps with existing laws, including the Responsible Parenthood and Reproductive Health Act (Republic Act [RA] No. 10354) and the Magna Carta of Women (RA No. 9710).
The group cautioned against a standardized framework that could challenge the academic freedom and identity of Catholic schools.
“A one-size-fits-all curriculum may not fully reflect the cultural, religious, and institutional contexts of all schools,” it said. “Any reproductive health education program should allow flexibility, ensuring that schools can integrate faith-based perspectives while addressing students’ needs.”
The group also underscored the role of parents as primary educators in their children’s moral and sexual development, urging policymakers to respect parental authority in any school-based sexuality education program.
In February 2024, Save the Children reported there was a 35% increase in teenage (girls aged 15 and below) pregnancies between 2021 and 2022. — Chloe Mari A. Hufana
Pueblo De Oro to provide skills training in Cagayan de Oro
REAL ESTATE developer Pueblo de Oro Development Corp. (PDO) recently teamed up with the Technical Education and Skills Development Authority (TESDA) to help provide skills training for workers in the Metro Cagayan De Oro.
PDO’s corporate social responsibility arm, the ICCP Group Foundation, Inc. (IGFI), signed a memorandum of agreement (MoA) with TESDA enhancing the region’s workforce capabilities. This would also support PDOs existing projects, such as the Masterson Mile North, a luxury condominium complex, and a planned World Trade Center.
“The partnership focuses on meeting the needs of the construction sector and other industries while contributing to the development of Metro Cagayan de Oro,” PDO said in an e-mail statement.
The agreement also seeks to provide sustainable livelihood opportunities and support the region’s economic growth.
IGFI has previously worked with TESDA to provide manufacturing workforce development initiatives across Luzon.
The programs align with Industry 4.0, which seeks to leverage digital transformation and automation in the manufacturing and business processes.
These efforts are also expected to position Cagayan de Oro as a center for innovation and commerce, according to the property firm.
Pueblo de Oro is the residential development arm of Investment & Capital Corporation of the Philippines Group, which has business interests in financial services and property management. — Beatriz Marie D. Cruz