How PSEi member stocks performed — March 30, 2022
Here’s a quick glance at how PSEi stocks fared on Wednesday, March 30, 2022.
Peso strengthens vs dollar on Russia-Ukraine peace talks
THE PESO appreciated versus the greenback on Wednesday as oil prices declined and the local stock market rebounded.
The local unit closed at P52.01 per dollar on Wednesday, stronger by 6.5 centavos from its P52.075 finish on Tuesday, based on data from the Bankers Association of the Philippines.
The peso opened Wednesday’s session at P52.02 per dollar. Its weakest showing was at P52.04, while its intraday best was at P51.92 versus the greenback.
Dollars exchanged increased to $1.119 billion on Wednesday from $1.047 billion on Tuesday.
The peso strengthened as global oil prices continued to decline due to optimism about the progress of ongoing peace talks between Russia and Ukraine, a trader said in an e-mail.
Reuters reported that fuel prices closed 2% lower on Tuesday amid progress in negotiations between Russia and Ukraine.
However, oil prices have rebounded by Wednesday due to concerns regarding new sanctions imposed by Western economies to Russia while their peace talks are ongoing.
Some Russian units suffering heavy losses in Ukraine had been forced to return home and to neighboring Belarus, British military intelligence said a day after Russia promised to scale down military operations around Kyiv and another city.
Ukrainian President Volodymyr Zelensky reacted with skepticism to the offer made by Russia during negotiations in Istanbul aimed at de-escalating a conflict now in its fifth week.
His forces have halted the invasion on most fronts, and some analysts noted that Russia’s promise to reduce fighting mostly covered areas where it has been losing ground, even as civilians remained trapped in besieged cities in the south and east.
Heavy losses and the withdrawal of some troops was impacting Russian operations, said Britain’s defense ministry.
Russia is likely to continue to compensate for its reduced ground maneuver capability through mass artillery and missile strikes, the ministry added.
Russia has failed to capture any major city in its month-long invasion, while Ukrainian forces have made advances, recapturing territory from Russian troops on the outskirts of Kyiv, in the northeast and in the south.
Meanwhile, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a Viber message that the peso strengthened following the gains in the local stock market.
“The Philippine Stock Exchange index rose to a new three-week high or since March 8, 2022, as global market risk appetite improved recently with the easing of global oil prices to among one-week lows,” he said.
The benchmark index rose by 51.93 points or 0.73% to close at 7,167.02 on Wednesday. The broader all shares index also increased by 24.22 points or 0.64% to 3,794.75.
For Thursday, both Mr. Ricafort and the trader gave a forecast range of P51.90 to P52.10 per dollar. — L.W.T. Noble with Reuters
Stocks rise as Russia-Ukraine talks show progress
SHARES rebounded on Wednesday following signs of progress in peace negotiations between Russia and Ukraine.
The benchmark Philippine Stock Exchange index (PSEi) went up by 51.93 points or 0.73% to close at 7,167.02 on Wednesday, while the broader all shares gained by 24.22 points or 0.64% to 3,794.75.
“Philippine shares continued latching onto the green region ahead of the quarter end as investors monitored ceasefire negotiations in Europe. Russian Deputy Defense Minister Alexander Fomin said that the country would “drastically” reduce military activity near Kyiv,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
“The market gained, following the positive cues from the US markets overnight and the drop in global oil prices lifted the sentiment. Investors digest the developments in the Russia-Ukraine war after their face-to-face talks. In addition… the lockdown in China pulled global oil prices down. This, somehow, lifts the market sentiment at home,” Philstocks Financial Research Associate Claire T. Alviar said in a Viber message.
“The market finished higher, consistent with some markets across Asia, as investors expressed optimism over the recently held peace talks between Russia and Ukraine,” Timson Securities, Inc. Trader Darren Blaine T. Pangan added in a Viber message.
Russia said on Tuesday it plans to scale down military operations around the Ukrainian capital, Kyiv, while Ukraine might adopt a neutral status that may help de-escalate the five-week war, Reuters reported.
Talks took place in an Istanbul palace more than a month into the largest attack on a European nation since World War II that has killed or injured thousands, forced nearly 4 million to flee abroad, and pummeled Russia’s economy with sanctions.
Meanwhile, oil prices rose more than 2% on Wednesday. Brent crude futures were up $2.6 or 2.4% at $112.81, while US West Texas Intermediate crude futures rose $2.7 or 2.5% to $106.84 a barrel.
Back home, all sectoral indices closed in the green on Wednesday. Services climbed by 26.68 points or 1.39% to 1,940.40; mining and oil rose by 133.47 points or 1.08% to 12,393.52; holding firms improved by 66.75 points or 0.98% to 6,834.87; property went up by 15.34 points or 0.46% to 3,336.94; industrials advanced by 41.21 points or 0.42% to 9,733.65; and financials added 3.92 points or 0.23% to 1,681.70.
The MidCap index advanced by 10.49 points or 0.89% to close at 1,193.19, while the Dividend Yield index improved by 5.29 points or 0.31% to close at 1,693.75.
Value turnover increased to P6.87 billion with 719.59 million shares changing hands from the P4.87 billion or 788.02 million issues seen the previous day.
Advancers outnumbered decliners, 106 versus 81, while 44 names closed unchanged.
Net foreign selling fell to P48.90 million from P214.40 million seen on the previous trading day. — Luisa Maria Jacinta C. Jocson with Reuters
Doncic’s triple-double leads Mavs over skidding Lakers
LUKA Doncic collected 34 points, 12 rebounds and 12 assists through three quarters to fuel the host Dallas Mavericks to a 128-110 wire-to-wire victory over the short-handed Los Angeles Lakers on Tuesday.
Doncic made 12 of 23 shots from the floor — including four 3-pointers — before sitting out the entire fourth quarter. The triple-double was Doncic’s 10th of the season and 46th career.
Reggie Bullock made five shots from beyond the arc to finish with 17 points for the Mavericks (47-29), who shot 51.7% from the floor and 43.5% from 3-point range (20-for-46).
Dallas recorded its fourth win in a row at home and 19th in its last 23 to move within one game of the third-place Golden State Warriors in the Western Conference.
The Lakers (31-44) played without four-time NBA MVP LeBron James and Anthony Davis. James sustained a left ankle sprain in Los Angeles’ 116-108 loss to the New Orleans Pelicans on Sunday, while Davis hasn’t played since suffering a right midfoot sprain on Feb. 16.
Malik Monk scored 28 points and Russell Westbrook added 25 for the Lakers, who have lost three in a row. Los Angeles fell below idle San Antonio (31-44) — via tie-breaker — into 11th place in the Western Conference.
Davis Bertans had four 3-pointers to finish with 14 points for the Mavericks. Spencer Dinwiddie had 13 points while Josh Green, Dwight Powell and Jalen Brunson each added 12.
Doncic scored 15 of his team’s first 23 points as Dallas bolted out of the blocks in the first quarter. Bullock buried back-to-back 3-pointers, Green added one of his own and Maxi Kleber made a layup as time expired to stake the Mavericks to a 43-25 lead at the end of the quarter.
Dallas continued its sharpshooting to seize an 82-56 lead at intermission. The Mavericks’ point total was their most in any half this season.
Doncic secured his triple-double after recording an offensive rebound and putback to stake the Mavericks to a 101-65 lead with 6:58 remaining in the third quarter.
Dallas, which led by as many as 37 points, put it on cruise control the rest of the way. — Reuters
List of European countries qualified for 2022 World Cup
LONDON — List of European countries qualified for the 32-team World Cup in Qatar this year after Tuesday’s playoff games:
Belgium, Croatia, Denmark, England, France, German, Netherlands, Poland, Portugal, Serbia, Spain, Switzerland.
Wales will play Scotland or Ukraine to decide the final European qualifier and complete the 13-team European lineup.
The 2022 World Cup will be played from Nov. 21 to Dec. 18. — Reuters
Tireless Ronaldo set to make his fifth World Cup trip
PORTO, Portugal — Portugal captain Cristiano Ronaldo was tireless in his team’s 2-0 win against giant-killers North Macedonia on Tuesday, creating one of Bruno Fernandes’ two goals in a 2-0 win that gave them a spot at this year’s World Cup finals in Qatar.
The 37-year-old forward is set to join a select group of players who have made it to five World Cup tournaments in their careers — Germany’s Lothar Matthaus, Mexico’s Rafa Marquez and Antonio Carbajal and Italy’s Gianluigi Buffon.
Lionel Messi is also preparing to play in his fifth World Cup finals as Argentina have also qualified for Qatar.
Ronaldo has fond memories of Porto’s Dragao Stadium and Tuesday’s World Cup playoff win joins the list.
It was there that he scored his first ever goal for Portugal in the 2004 European Championship opening game against Greece.
Five years later, Ronaldo netted the first goal honoured by the FIFA Puskas Award given to the season’s best effort — a long-range strike for Manchester United against Porto in the Champions League that secured a place in the semifinals.
More recently, in the 2019 UEFA Nations League semifinal against Switzerland, Ronaldo shone again at the Dragao by scoring a hat trick to lead Portugal to the final against the Netherlands, which they won to secure him another trophy. — Reuters
Peru seals World Cup playoff berth with 2-0 win over Paraguay
LIMA — Peru sealed a World Cup playoff spot on Tuesday after a 2-0 win over Paraguay secured fifth place in the South American qualifying group.
Brazil, Argentina, Ecuador and Uruguay had already secured South America’s four automatic spots.
Peru will meet either the United Arab Emirates or Australia, who play the Asian confederation playoff in Doha on June 7, for a place in Qatar. The inter-confederation playoff will take place in Doha on June 13 or 14.
“Tonight’s game was a joy for the whole country but there is still one more step to take,” midfielder Christian Cueva said. “As from tomorrow, we’ll be focused on the playoff.”
Peru also had to go through a playoff to reach the last World Cup in Russia, defeating New Zealand over two legs to qualify for their first finals since Spain in 1982.
On Tuesday, the Andean side started the night with 21 points, one more than Colombia and two ahead of Chile, knowing that a win over Paraguay in the final round of qualifying would be enough to wrap up the playoff spot.
They went ahead with just four minutes gone, Gianluca Lapadula running on to a defense-splitting pass from Cueva to poke the ball in off the post.
Three minutes before half time, it was 2-0, Cueva the architect again. His work outside a packed penalty box led to a cross finished off by Yoshimar Yotun.
The home side controlled the second half without making many more chances and were content to see the game out and send the capacity crowd at the National stadium into raptures at the final whistle.
Ricardo Gareca’s team did not look like they would be in contention for Qatar early on in the group, only getting their first win in their sixth game.
But three wins in a row against Bolivia, Venezuela and Colombia between November 2021 and January this year pulled them right back into the running.
“We’re very happy, we fought so hard,” said defender Renato Tapia. “We were in a really tight situation, but we were able to pull ourselves out of it. Paraguay were a tough rival but we won.”
In the night’s other games, Brazil beat Bolivia 4-0 in La Paz thanks to goals from Lucas Paqueta, Bruno Guimaraes — his first for the national side — and a double for Richarlison.
The win took Brazil’s points total to 45, a record in the South American qualifying section. Tite’s men are unbeaten in their 17 group games so far, and they still have one match to play against Argentina.
Argentina drew 1-1 at Ecuador after Julian Alvarez’s early goal was canceled out in stoppage time by the home side’s Enner Valencia, who converted the rebound after his penalty was saved.
That result extended Argentina’s unbeaten run in all matches under Lionel Scaloni to a record-equalling 31. Alfio Basile led Argentina to 31 matches undefeated between 1991 and 1993.
Colombia beat Venezuela 1-0 thanks to a James Rodriguez penalty, while Luis Suarez, with a bicycle kick, and Federico Valverde gave Uruguay a 2-0 win over Chile in Santiago. — Reuters
Medvedev one win from reclaiming world number one spot at Miami Open
DANIIL Medvedev is one win away from retaking the world number one spot after moving past American Jenson Brooksby 7-5, 6-1 and into the Miami Open quarterfinals on Tuesday.
The US Open champion lost his serve in the first game but found momentum after fending off two more break points in the fifth, winning the final four games of the first set in which he fired down six aces.
He ripped through the second set in less than half an hour, dropping one first serve point.
Medvedev will face defending champion Hubert Hurkacz in the quarters, with a win moving the Russian back to world number one on Monday, two weeks after he lost the spot to Novak Djokovic.
“At this moment, I don’t feel any pressure,” Medvedev said. “To be in the semifinals, I knew before the tournament that I have to be there if I want to be number one.
“It’s great that I have this chance. Only one match left. Of course maybe during the match, pressure can start to build up, depending on how the match is going… But at this moment, it’s just a lot of extra motivation to try to make this one more step.”
KYRGIOS EXITS, OSAKA ROLLS
Australian wild card Nick Kyrgios lost to Italian Jannik Sinner 7-6(3), 6-3 after a dispute with the chair umpire.
Kyrgios received a point penalty for bad behavior in the first-set tie-break and in between sets angrily and repeatedly asked the chair umpire “What is unsportsmanlike?” before walking to his bench and whacking his racket against the court.
The gesture earned him a game penalty, allowing Sinner to open the second set up a break.
Elsewhere in the day’s action, fourth-ranked German Alexander Zverev overcame a solid defensive effort from Australian qualifier Thanasi Kokkinakis to win 6-4, 6-4 and set up a quarterfinal clash with eighth-ranked Casper Ruud.
The Norwegian, who lost to Zverev in the Paris Masters quarterfinals in November, had earlier sent top British player Cameron Norrie packing 6-3, 6-4 in the Grandstand.
“(Ruud is) somebody that really does not miss much,” said Zverev. “He’s somebody that tries to play aggressive with his forehand as well. Got to take away his strength in a way and we’ll see how it goes tomorrow.”
Hurkacz defeated South African Lloyd Harris 7-6(3), 6-2, while Spain’s 18-year-old Carlos Alcaraz battled past Stefanos Tsitsipas 7-5, 6-3 in the night session.
Alcaraz, who improved to 15-2 on the season, is one win from consecutive Masters 1000 semi-finals after Indian Wells. He will next face Serbian Miomir Kecmanovic, who beat Indian Wells champion Taylor Fritz 3-6, 6-1, 6-4.
Argentina’s Francisco Cerundolo also advanced to the last eight after beating Frances Tiafoe 6-7(2), 7-6(3), 6-2.
Naomi Oaka thumped 13 aces and 25 winners to dispatch an injured Danielle Collins 6-2, 6-1 to reach the semifinals, where she will meet Tokyo Olympic gold medalist Belinda Bencic of Switzerland.
Bencic, who beat Daria Saville 6-1, 6-2 earlier in the day, has won all three of her Tour-level meetings with the four-time Grand Slam champion, although they have not met since the 2019 US Open.
“I’ve never had anything to lose against her,” Bencic said of her past success against the Japanese star.
“She’s the player that has to defend, she has won a lot of Grand Slams, so she’s in that position.” — Reuters
NFL owners approve overtime rules adjustment for playoffs
NATIONAL Football League (NFL) owners on Tuesday approved a proposal to modify its overtime rule in the playoffs by ensuring both teams have a possession.
The proposal was brought forth by the Indianapolis Colts and Philadelphia Eagles.
Per ESPN, teams that won the overtime coin flip posted a 10-2 record in the playoffs, with seven of those wins coming on the opening possession.
Overtime in the regular season will remain under the current rules, with the game ending should one team score a touchdown on its opening possession regardless if the other side has touched the ball.
The change to the overtime rule in the playoffs comes on the heels of the Kansas City Chiefs’ 42-36 win over the Buffalo Bills in the AFC Divisional round on Jan. 23.
The Chiefs won the coin toss prior to the start of overtime and elected to receive the ball.
Tight end Travis Kelce reeled in an 8-yard touchdown pass from Patrick Mahomes to cap an eight-play, 75-yard drive on the first possession of overtime.
Quarterback Josh Allen and the Buffalo offense did not have a chance to respond. — Reuters
Duterte asks why Marcos taxes remain unpaid
PRESIDENT Rodrigo R. Duterte on Tuesday night asked why billions of pesos in taxes owed by the heirs of the late dictator Ferdinand E. Marcos for decades remained unpaid.
“In our taxation, the government can only prod,” he said in a taped speech. “The Bureau of Internal Revenue is there. Let’s ask them why the estate tax is still unpaid.”
Both the country’s tax agency and a body formed in the 1980s tasked to recover ill-gotten wealth of the dictator and his cronies this month confirmed the tax assessments, but did not say why these have not been paid.
The country’s tax agency had demanded payment of the taxes from Marcos estate administrators, Finance Secretary Carlos G. Dominguez III told reporters in a Viber message on Wednesday, citing the Bureau of Internal Revenue (BIR). “They have not paid.”
Internal Revenue Commissioner Caesar R. Dulay on March 14 said his office did send a written demand letter to the Marcos heirs on Dec. 2, 2021 regarding their tax liabilities.
The Presidential Commission on Good Government (PCGG) separately said the tax agency in 1991 assessed the estate of Ferdinand Marcos P23.29 billion in estate taxes, P184.16 million in unpaid income taxes of Mr. Marcos and his wife Imelda for 1985 and 1986, and P20,410 in unpaid income taxes against the dictator for 1982 to 1985.
In 1993, BIR levied and sold 11 Marcos properties in Tacloban after the family failed to file an administrative protest. The lots were awarded to the state in the absence of bidders, it said.
The Supreme Court in 1997 denied a plea by Marcos, Jr. to void the levies as it ruled the tax assessments had become final and unappealable.
The BIR would continue to consolidate the titles on the properties in favor of the government, Mr. Dominguez said. “Bottomline, Marcos does not take any steps to settle and pay because [of] pending litigation.”
The Finance chief did not immediately reply to further questions about the matter, including whether the tax cases are still pending in court.
Mr. Marcos’s detractors have pressed his family to pay the taxes, which have supposedly ballooned to P203 billion due to interest and other penalties.
Mr. Duterte’s spokesman, Jose Ruperto Martin M. Andanar, said the tough-talking leader was just reminding the BIR to do its duty of collecting the taxes.
“The President only reminded the BIR to act on its mandate, and that is to collect taxes,” he told a news briefing.
The Finance department has said the estate tax would be an additional revenue source for the government amid surging global oil prices.
Critics including retired Supreme Court Justice Antonio T. Carpio have been calling on the tax agency to file a criminal case against the Marcoses for refusing to pay the taxes.
Marcos, Jr. is running for president in tandem with Mr. Duterte’s daughter, Davao City Mayor Sara Duterte-Carpio.
The President last year called Mr. Marcos, who is leading in several opinion polls, a “weak leader” and a “spoiled child,” saying he is the reason why his political party did not form an alliance with his daughter. “I am not impressed by him.”
A rival political party earlier warned that the debt could get erased if the tax agency fails to collect the tax by June 30, in case Mr. Marcos wins the election.
An opposition group earlier said the Marcos camp’s claim that the estate tax liability is still pending in court is “the worst kind of black propaganda. It said Filipinos could not afford to have a president who had been convicted for tax evasion.
The dictator stole as much as $10 billion (P521 billion) from the Filipino people, according to government estimates, earning him a Guinness World Record for the “greatest robbery of a government.” PCGG has recovered about P171 billion. — Kyle Aristophere T. Atienza and Tobias Jared Tomas
Task force rescued 134 exploited kids in past year — NBI
AN INTER-AGENCY task force rescued 134 sexually exploited children and arrested 15 offenders from 51 operations in the past 12 months, according to the National Bureau of Investigation (NBI).
The task force rescued 238 child victims and arrested 50 offenders in 76 operations in the first two years of collaboration among NBI, Philippine police and their counterparts from Australia and the United Kingdom, NBI said in a statement on Wednesday.
“Despite the pandemic brought about by COVID-19 (coronavirus disease 2019), the recorded accomplishments were achieved through the joint efforts of the NBI-Anti Human Trafficking Division and Philippine National Police Women and Children Protection Center,” it added.
The task force, called the Philippine Internet Crimes Against Children Center also partnered with the International Justice Mission (IJM), a global organization focused on human rights.
“This international collaboration of law enforcers has made a significant impact on stopping online sexual exploitation,” Justice Secretary Menardo I. Guevarra said at an anniversary ceremony streamed live on the NBI Facebook. “The task force now serves as a model for an enhanced global response against online sexual abuse and exploitation cases.”
He said Justice department’s Office of Cyber-crime has been working with the task force in its investigations by sharing leads through the National Center for Missing and Exploited Children.
The cyber-crime division also monitors incidents of online sexual exploitation by coordinating with internet service providers and social media platforms such as Google and Facebook.
Last year, NBI opened its Cyber Trafficking in Persons Monitoring Center, which monitors cyber-space for human trafficking.
The United Nations Children Agency in 2017 said one of three internet users were children below 18, and were at risk of harmful content and contact. — John Victor D. Ordoñez
Eight of 10 Pinoys rely on Facebook for political news
EIGHT of 10 Filipinos get their news from Facebook, according to the Ateneo de Manila University School of Government, citing a 2021 study.
In a statement on Wednesday, the university said 79% of Filipinos often get their news from random feeds on the social network. Television was their second source of news at 66%, followed by YouTube at 57% and other news websites at 54%.
“While 79% of the respondents often get their news randomly from Facebook, it does not necessarily mean that Facebook is their only source of news,” Ateneo Associate Professor and project research manager Ma. Rosel San Pascual said. “Respondents generally have multiple sources of news.”
Ateneo said Filipinos tend to read political news on Facebook, even if clicking a story or video does not mean they will finish reading or watching it.
It said people who do not rely solely on Facebook feed for political information think they have a better understanding of politics and are more confident to participate in political discussions.
“Those who are not reliant on their Facebook feed for news have a greater variety of sources of news for politics, government, and governance,” Ateneo said. “They are proactively seeking news, they do not just depend on random news exposure on their Facebook feed, they also encounter news from other sources,” Ms. San Pascual said.
The study showed that people who rely on random news on Facebook are more cynical about politics. Most respondents said they trust traditional media to provide accurate information about politics and politicians.
Ateneo asked 2,000 respondents for the online survey on Oct. 27 to Nov. 12. The team also had researchers from the University of the Philippines. — KATA