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What To See This Week (10/28/22)

A SCENE from the film Halloween Ends

Thrill Fest at the Ayala Malls cinemas

THE AYALA Malls cinemas bring viewers thrill and horror this weekend until Nov. 1. For reserved seats, visit Sureseats.com. Ayala Malls Cinemas in areas under Alert Level 1 now have a full-seating capacity. Food and drinks are now allowed inside the movie theaters.

POLTERGEIST
A family combats evil forces that have taken over their suburban home.

MTRCB Rating: PG

URBAN MYTHS
This Korean horror film tells creepy tales involving things we see in our everyday lives.

MTRCB Rating: R-13

HALLOWEEN ENDS
After the events of Halloween Kills, Laurie Strode and Michael Myers will face off once more in a final and bloody battle after four years. Laurie is living with her granddaughter and trying to finish her memoir. She finally decides to liberate herself from rage and fear and embrace life. However, a young man stands accused of murdering a boy that he was babysitting and it ignites a cascade of violence and terror that forces Laurie to confront the evil she can’t control.

MTRCB Rating: R-18

Sine Sindak Horror Film Festival at SM Cinemas

THE SINE Sindak Horror Film Festival at SM Cinemas runs until Oct. 30. Tickets are at P99 per title, and P199 for an Unlimited Day Pass. For tickets, visit www.smcinema.com.

THE SADNESS
A young couple is pushed to the limits of sanity as they attempt to be reunited amid the chaos of a pandemic outbreak. The streets erupt into violence and depravity, as those infected are driven to enact the most cruel and ghastly things imaginable.

MTRCB Rating: R-18

MURDER HOUSE
A group of crime scene cleaners struggles to escape a murder house after becoming trapped by an ancient Nordic demon that is hell-bent on driving them insane.

MTRCB Rating: R-13

CREEP NATION
A young woman is stalked by a dark web network after booking a weekend rental unit online. Her every move is captured online, and when her brother begins to uncover what’s happening, he must find a way to rescue her from the eyes of her predators.

MTRCB Rating: R-13

SLUMBER PARTY MASSACRE
Dana, daughter of the only survivor of a massacre in 1993, goes on a weekend trip with her friends. After their car breaks down in the very same town where her mother once fought the Driller Killer, Dana and her friends must come face-to-face with the man who has haunted her mother’s life for the past 30 years.

MTRCB Rating: R-13

SPEAK NO EVIL
A Danish family visits a Dutch family they met on a holiday. What was supposed to be an idyllic weekend slowly starts unraveling as the Danes try to stay polite in the face of unpleasantness.

MTRCB Rating: R-16

STAY OUT OF THE ATTIC
A diverse group of ex-convicts are convinced by their creepy client, Vern Muller, to pull an all-nighter for a generous pay bump. As the night progresses and rooms are cleared, they slowly uncover the horrors that exist inside his old Victorian mansion, which include boobytraps, and human experimentation.

MTRCB Rating: R-16

TIGERS ARE NOT AFRAID
A dark fairy tale about a gang of five children trying to survive the horrific violence of the cartels and the ghosts created every day by the drug war.

MTRCB Rating: R-16

Phinma Corp. names new key officials 

PHINMA Corp. has named a new chairman and president after its chairman, who held the post since 2003, stepped down early this year.

In a press release on Thursday, the company said Oscar J. Hilado, its former chairman, will stay as chairman emeritus. Ramon R. del Rosario, Jr., the company’s president and chief executive officer (CEO), was designated chairman and CEO.

Chito B. Salazar, the company’s chief operating officer and head of education, will concurrently serve as president.

Mr. Hilado said he has “full confidence in Ramon and Chito” that they will lead the company “towards the realization of our goal of making the essentials to a dignified life more accessible to more families.”

Along with the new leaders’ assignment, Phinma said that it is eyeing to expand its business units as part of its post-pandemic plans.

Mr. Salazar said the company “banks on its 66 years of mission-driven businesses in treading new terrain and facing new challenges. We draw from experience as we answer the call to make business a force for doing good.”

In its education business, the company disclosed that it will be expanding its school network through further acquisitions.

“This growth is envisioned to happen not only in the country but also by reaching Southeast Asian markets with similar demographics to the Philippines, such as Indonesia,” it said.

It said the construction materials group will continue to develop its growth markets while capitalizing on partnerships, operational efficiencies, and margin optimization initiatives.

Meanwhile, its property unit is looking to launch horizontal projects in emerging cities outside of central business districts.

The company said it affirmed its belief in its property business “by approving an investment of up to P420 million for the development of a township division.”

On the stock exchange on Thursday, shares in Phinma lost 30 centavos or 1.48% to P20 each. — Justine Irish D. Tabile

Stuff to do (10/28/22)

CCP’s Tricks and Musical Treats concert

THE CULTURAL Center of the Philippines and the Philippine Philharmonic Orchestra’s Tricks and Musical Treats concert goes live this Oct. 30. Love of music, love of nature, love of culture are packaged in a tuneful Fiesta at Filharmonia. Tickets are available at the CCP Box Office at 8832-3704, 8832-1125 local 1409 or visit Ticketworld at https://bit.ly/CCPxPPOTricksandMusicalTreats. For more information on the CCP’s new normal safety protocols, visit https://bit.ly/staysafeatCCP.

Halloween at Araneta City

ARANETA City transforms itself into a creepy circus filled with tricks and treats for every member of the family. Update your social media feeds with season-appropriate selfies by posing with the spooky decor. This year’s Halloween costume contest carries the theme “Halloween Circus.” Dress up as a creepy clown or a demented ringmaster to get a chance to win prizes. To join, present P1,000 single-receipt purchase from any Araneta City establishment on Oct. 30. Registration is from 2 p.m. to 3:45 p.m. at the activity areas of Gateway Mall and Ali Mall, where a Halloween parade will also take place. Every P1,000 single-receipt purchase from any Araneta City establishment entitles visitors to a Trick-or-Treat bag filled with goodies on Oct. 30, from 2 p.m. to 3:30 p.m., while dining out comes with a free Coca-Cola Tumbler for every P350 single or accumulated purchase from Food Express, Food Plaza, Food Gallery, and Dampa. 

Fundacion Sanso exhibitions

FUNDACION Sanso presents two exhibitions tied together by its art scholarship program and the legacy of Presidential Medal of Merit awardee Juvenal Sanso. The first, titled “Past Expressing,” features sculptural interpretations of Sanso’s skull paintings, which he popularized in the 1960s. The exhibition, which takes its name from Sanso’s 1960 ink painting of a skull wreathed with flowers, will raise funds for Fundacion Sanso’s scholarship program for art students of Bulacan State University. The second exhibition, “Pamana sa Panahon ng Pagbabago,” features works by the current batch of scholars who created works inspired by the idea of the intangible heritage that should be passed on to the younger generations, particularly in a world adapting to vast social changes in response to COVID-19. Both exhibitions run until Nov. 12.  Fundacion Sanso is open Monday to Saturday, except holidays, from 10 a.m. to 4 p.m. The museum is at 32 V.Cruz St., Brgy Sta. Lucia, San Juan City, Metro Manila. Admission is free. 

Livelihood aid worth P1M distributed to Intramuros tourism workers

BW FILE PHOTO

THE Department of Labor and Employment (DoLE) on Thursday said it distributed over P1 million in livelihood assistance to at least 120 pedicab drivers and vendors in Intramuros.

In a statement, DoLE said it will also provide livelihood training programs to help the workers, whose incomes declined due to the dearth of tourism during the pandemic.

“DoLE implements productivity and livelihood programs which could raise the level of tourism and entrepreneurial services of Department of Tourism (DoT)-trained community tour guides represented by pedicab drivers, vendors, and tourism-oriented small-scale enterprises such as souvenir shops,” Labor Secretary Bienvenido E. Laguesma said.

The livelihood assistance program is carried out via a partnership between the DoLE and the DoT.

Mr. Laguesma said Intramuros, a walled city built during the colonial period, was the pilot site for the project.

“More communities in other parts of Metro Manila are set to benefit from DoLE’s livelihood assistance program,” he said.

The DoT has said that over a million workers in the industry were affected by the coronavirus pandemic. — John Victor D. Ordoñez

Dominion Holdings posts lower net profit

DOMINION Holdings, Inc. posted a lower net profit in the first nine months of the year as its expenses rose, offsetting an increase in its investment earnings.

The company’s net earnings stood at P28 million from January to September, 29.6% lower than the P39.8 million it booked last year, it said in a filing with the local bourse on Thursday.

The Sy-led holding firm’s total expenses climbed by 64.1% to P21.5 million from P13.1 million in the same period in 2021, which was attributed to a tax adjustment earlier this year.

Meanwhile, in the nine months to September, the firm’s fair value gain on its investments grew by 10% to P49.5 million from the P45 million seen in the comparable period a year ago amid rising interest rates.   

“With approvals from its board of directors and stockholders, Dominion Holdings already voluntarily surrendered its secondary license as a financing company to the Securities and Exchange Commission (SEC),” the firm said.

The SEC approved the change in BDO Leasing & Finance Inc.’s (BLFI) corporate name to Dominion Holdings, as well as the changes of its articles of incorporation and by-laws, on July 21.

This is in line with the strategic direction of its parent, BDO Unibank Inc. (BDO), to convert BLFI into a holding company.

According to the firm, the board also approved the change of stock symbol in the Philippine Stock Exchange from “BLFI” to “DHI.”

“As an investment holding company, Dominion Holdings, Inc. will have more flexibility in pursuing business opportunities which will enhance shareholder value for its shareholders,” it said. 

“Dominion Holdings, Inc.’s primary purpose is to hold/own real estate properties, securities/shares of stocks, and other assets of other companies, and engage in investment and business activities involving these assets,” it added. 

BLFI ceased its operations as a leasing company on Oct. 19 last year and transferred its leasing and financing business to an affiliate, BDO Finance Corp.

BDO Finance assumed the lease transactions formerly booked with BLFI, ensuring continuity of service to its existing clients.

BLFI filed with the SEC a letter surrendering its Certificate of Authority to operate as a financing company on July 5.

Dominion Holding’s parent BDO booked an attributable net income of P12.205 billion in the second quarter, up 10.64% from the P11.031 billion in the same period in 2021.

This brought the bank’s attributable net profit for the first half to P23.943 billion, 12% higher than the P21.421 billion seen in the comparable year-ago period.

BDO’s shares went up by P3.20 or 2.58% to close at P127 apiece on Thursday. — Keisha B. Ta-asan

Entertainment News (10/28/22)

All About Love concert

KUH LEDESMA performs live at the All About Love concert on Dec. 2 and 3, 8 p.m. at the Newport Performing Arts Theater. OPM icons Odette Quesada and Fe De Los Reyes join her live onstage as they perform timeless hits and relive their glory days. Tickets are available at TicketWorld and SM Tickets outlets. Prices range from P1,500 to P8,000. For inquiries, contact the Newport World Resorts National Sales Team via Archli Enriquez at 0917-8239602, Kenneth Navoa at 0917-8079387, and Jefferson Federizo at 0917-658 9378, or call Ticketworld 8891-9999, or SM Tickets 8470-2222. 

Paolo Sandejas releases new song

SINGER Paolo Sandejas releases his new song “Liquid Courage.” “‘Liquid Courage’ is about getting the courage to tell the person you love how you feel. More often than not, we tend to pretend we don’t care to save face and ‘play the game.’ ‘Liquid Courage’ is a call to action to say how you feel and take that risk,” Mr. Sandejas said of the single, which is part of Spotify’s New Music Friday Philippines and Apple Music’s Absolute OPM Apple Original Pilipino Music playlists. “Liquid Courage” is out on digital streaming platforms.

Mitch James releases new single

NEW Zealand-based singer-songwriter Mitch James releases the pop track “motions.” Co-written with Graham Letterman and Ryan Short (who also produced the laid-back single), “motions” is inspired by the constant roadblocks in Mitch James’ life, health, and career. “It’s inspired by real-life events that happened to me,” Mr. James said in a statement. The single is available on digital music platforms via Sony Music.

SMC unit’s perpetual securities ‘volatile’ — CreditSights

SMC Global Power Holdings Corp.’s perpetual capital securities are volatile in the short to medium term, credit research provider CreditSights said, as it withdrew its strong debt rating for San Miguel Corp. (SMC) on rising concerns over the conglomerate’s power arm.

CreditSights said that the five outstanding perpetual capital securities of SMC Global Power have sold off in recent days, trading in the price range of $61 to $66.

“The volatility was caused by the continued pressure that SMC Global Power faced on its profits this year due to the spike in input costs, as well as media reports citing the company’s financial position,” the Fitch Group’s CreditSights said.

On Wednesday, SMC authorized its subsidiary SMC Global Power to purchase debt amounting to $400 million in a tender offer of securities listed in Singapore.

The tender offer is part of the company’s process of streamlining its existing financing mix. In SMC’s press release last week, it denied reports that the company is in a difficult financial position.

“We’re confident that we will be able to manage the company’s maturing obligations in 2023 and beyond. If necessary, there will be SMC parent support,” SMC President Ramon S. Ang earlier said.

In its report, CreditSights said that it had initiated an “underperform” recommendation on SMC Global Power’s dollar bonds in January 2022, “on the back of input cost pressures, high leverage and elevated capex (capital expenditure) plans.”

It added that the company’s financial profile “has continued to deteriorate since,” and its outstanding dollar perpetual securities’ yields “have widened significantly.”

Further, CreditSights suggested to bondholders “to not tender for securities callable in and after March 2025.“

“Nonetheless, we maintain our Sell recommendation on the credit, owing to our outlook for a continued deterioration in SMC Global Power,” the report said.

Earlier, CreditSights maintained its strong debt rating for SMC after the company acquired an 88.5% stake in Eagle Cement Corp.

“We shift our recommendation on SMC to Hold from Outperform,” CreditSights said.

“It is constructing a new mega airport near Metro Manila which will further increase its capex requirements this decade. Given the worsening financial profile of SMC Global Power, any concerns over its hypothetical default raises fears of triggering a cross-default on SMC,” the report said.

The report said, however, that SMC’s diversified profile should enable its earnings to remain resilient amid economic downturns, adding that a number of its businesses, including power, infra, and cement, require large upfront capital costs and have long gestation periods.

At the stock exchange on Thursday, shares in the company closed unchanged at P98.45 apiece. — Ashley Erika O. Jose

A good worker with a fake transcript

A new employee has proven to be above average and a hard worker. On his third month of probation, we discovered from a background check that he submitted a fake transcript of records. His boss advised us not to decide on his case until shortly before the probation expires. What do you think? — September Morn.

Even if that person remains a hard worker for six months, what’s the guarantee that he will not commit forgery again at some point? Also, think of the impact on your company’s disciplinary policy.

Forgery is forgery, no matter how you look at it. When a person lies, it chips away at the bond of trust that we confer in the early moments of a relationship. If the breach of trust happens in a work relationship, the effect should be automatic. You can call this the “hot stove” rule.

You know a burning stove is hot. The moment you touch a hot stove, the pain is immediate. It is not felt several months after.

An employee, regardless of personal circumstances, must be fired at the soonest possible time. No ifs, no buts. The only thing you can do to recognize his performance is to weigh it as a mitigating factor. Instead of going through disciplinary procedures allow him to resign, unless there is a risk of exposing the organization to a labor complaint.

More than the issue of trust, it’s important to send a clear message of the importance you attach to trustworthiness in any worker, regardless of position.

DOCUMENTS
While it goes without saying that all employees and their managers are expected to be honest and trustworthy, it’s always good practice to be backed up by written policy and documentary evidence. These include the following:

One, employment contract and related documents. Review the employee’s personnel file to ensure the company is protected against dishonesty and breach of trust. Also, make sure that your application for employment form and employment contract contain provisions that read something like this:

“I hereby warrant that all original, facsimile or certified true copy of documents that I have submitted in connection with my employment application are valid, legitimate, free from any error, or forgery. If any of my submitted documents is found to be a forgery, contains untruthful information or illegal entries, the organization reserves the right to terminate my employment after the observance of due process as required by law.”

Two, disciplinary policy and procedure. This can be found in the company’s Code of Conduct, Code of Employee Discipline or similarly-titled internal document. Review the provision on forgery or falsification of documents. I am sure that such serious offenses are punishable by dismissal at the bare minimum.

Do not consider lesser penalties like suspension. Regardless of the nature of one’s business and the personal circumstance of the offending employee, the penalty of dismissal is appropriate here.

Three, result of background check. It’s not important that the background check came in late. You can use the adverse findings against the employee within a reasonable period of time. The result is more than enough for your management to charge a person with falsification.

You may only need a notarized affidavit of the private investigator who conducted the background check, if and when you decide to file an administrative case against the offender or as additional documentation to prepare for an illegal dismissal case.

Four, data privacy consent form. This allows the organization or its designated representative to check or validate claims by any employee with any private or public establishment. This is imperative as many organizations don’t allow other employers or individuals to check on the background of anyone without formal consent.

These documents are basic requirements. Consult the company’s lawyers for additional documents depending on the nature of your business.

EXPECTATIONS
Watch your emotions. This sort of situation may get under the skin of the hiring manager and department head. Don’t take any action until everything has cooled down. The takeaway from all this is to review and understand what you expect from your external background checker, to avoid instances where background checks are submitted late.

Management concerns itself primarily with how a job applicant will perform in a real work situation. What you can’t overlook is integrity. Don’t ignore this aspect of the process. Your credibility is also at stake here.

 

Chat your workplace questions with Rey Elbo on Facebook, LinkedIn, Twitter or e-mail elbonomics@gmail.com or go to https://reyelbo.com

Investing in nutrition and food security

2022 MARKS the 100th anniversary of the UP Vanguard, Inc. (UPVI), one of the oldest organizations in continuous existence at the University of the Philippines (UP). The theme for this year’s celebration is “Paglilingkod at Paninindigan” which speaks volumes about the Vanguards’ service to the country as well as the resolute conviction to stand up and stand their ground for what they believe in.

To kick off its centennial activities, UPVI is hosting a series of online seminars that started with “Investing in Our Human Capital for the Next 100 Years: An Enabling Policy Environment for Philippine Education” on Aug. 22, 2022. Philippine Institute for Development Studies (PIDS) President and economist Dr. Aniceto Orbeta, Jr. was the keynote speaker.

The panel of reactors consisted of lawyer Emerico de Guzman, Human Capital Committee Chair of the Management Association of the Philippines; professor Dr. Dina Joana Ocampo of UP Diliman; Dr. Vicente Fabella, president of Jose Rizal University; and Marco Dominic delos Reyes, policy and advocacy manager of Philippine Business for Education. Serving as the moderator was Dr. Winston Conrad Padojinog, president of the University of Asia and the Pacific (UA&P).

Last week, the second installment of the UPVI’s Centennial Webinar Series was about “Investing in Food, Nutrition, and Preventive Health Security for the Next 100 Years: An Enabling Policy Environment for Philippine Agriculture and Agro-Industrial Sector.” This time there were two main speakers: Dr. Bernardo Villegas of the UA&P Center for Research and Communication, and PIDS Senior Fellow Dr. Roehlano Briones.

Some of the leading lights in Philippine agribusiness served as panelists, namely Land Bank of the Philippines President Cecilia Borromeo; Federation of Free Farmers Vice-President Raul Montemayor; Philippine Chamber of Agriculture and Food President Danilo Fausto; Agrea Philippines President Cherrie Atilano; Dr. Ramon Lorenzo Guinto, chief planetary health scientist of the Sunway Center in Kuala Lumpur; with Confederation of Filipino Consulting Organizations Director Pablito Villegas as the forum moderator.

Both speakers indicated that food security is intimately intertwined with the quality of basic education in the Philippines. They pointed out that the prevalence of undernourishment among Filipino children handicaps them in obtaining quality education due to the damage on their brains caused by the lack of food. The panel of reactors addressed the maladies of our dysfunctional food and agriculture system while providing solutions to the health insecurity of our nation.

Since its founding as a fraternity in 1922, UPVI has had a long, fruitful history of partnership in nation building and contributing to the cause of the country’s premier state university. It has produced a long list of top officials in the military, the national government, and the private sector.

UPVI will hold its Grand Centennial Homecoming on Dec. 10, 2022 at the University Amphitheater of UP Diliman. To be launched on that date is a coffee-table book titled The Chosen Few: Centennial of the UP Vanguard. The book’s editorial board is headed by Executive Publisher Gilbert Raymund Reyes, executive editors Dan Albert de Padua and Edwin Villarico, and Project Coordinator Christine Marie Cura-Biola. It is co-published by Media Wise Communications, a multi-awarded agency led by Ramoncito Ocampo Cruz.

DISTINGUISHED ALUMNI AWARDS
For its 109th year, the University of the Philippines Alumni Association (UPAA) recently announced its 2022 Distinguished Alumni Awardees. Named as this year’s UPAA Most Distinguished Alumnus was Congressman Edcel Lagman, who obtained his Bachelor of Arts (cum laude) and Bachelor of Laws degrees from UP Diliman.

Lifetime Achievement Awards were conferred on professor Rigoberto Advincula (Bachelor of Science in Chemistry; lawyer Leovillo Agustin (Associate in Arts and Bachelor of Laws); Leopoldo Clemente, Jr. (Bachelor of Science in Business Administration); Dr. Jose Juliano (Bachelor of Science in Agriculture, magna cum laude); Dr. Ceferino Maala (Doctor of Veterinary Medicine); and professor Josefino Toledo (Bachelor of Music).

These awards are based on the concept that the prestige of the institution is increased when the prestige of the alumni increases. It may be recalled that in 2020, the UPAA decided to give only one unprecedented collective award to all UP health frontliners across the globe who heroically continued to serve in their various lines of work while facing the hazards brought by the COVID-19 contagion.

The opinion expressed herein does not necessarily reflect the views of these institutions and BusinessWorld.

 

J. Albert Gamboa is the chief finance officer of Asian Center for Legal Excellence and chair of the FINEX Media Affairs Committee.  #FinexPhils www.finex.org.ph

Philippines 23rd most affected globally by data breaches in Q3

The Philippines ranked 23rd out of 250 territories with a total of 523,684 leaked accounts in the third quarter, according to the latest data breach statistics produced by virtual private network service provider Surfshark. The number of leaked accounts in the third quarter surged 3.4 times from 152,765 record in the second quarter. The country’s data breaches in July-September period translated to five leaked accounts for every 1,000 Filipinos. It was also the fourth highest in the region, after Indonesia (3rd overall), China (6th), and Taiwan (8th).

Philippines 23<sup>rd</sup> most affected globally by data breaches in Q3

How PSEi member stocks performed — October 27, 2022

Here’s a quick glance at how PSEi stocks fared on Thursday, October 27, 2022.

Stocks surge on strong peso, narrower deficit

BW FILE PHOTO

PHILIPPINE STOCKS surged on Thursday as the peso continued to recover against the dollar and as the government’s fiscal deficit narrowed in September.

The benchmark Philippine Stock Exchange index (PSEi) rose by 109.05 points or 1.78% to close at 6,230.58 on Thursday, while the broader all shares index gained 39.11 points or 1.2% to finish at 3,282.38.

Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message on Thursday that local stocks climbed on the back of a stronger peso and as the government posted a smaller budget deficit last month.

Data from the Bureau of Treasury showed the budget gap stood at P179.8 billion in September, down 0.61% from P180.9 billion a year earlier. However, this was more than double the P72-billion fiscal deficit in August.

For the first nine months of the year, the fiscal deficit narrowed to P1 trillion, 11.09% lower than the P1.14-trillion gap a year ago.

The government aims to reduce the deficit to 7.6% of gross domestic product (GDP) this year and to eventually bring it down to 3% of GDP by 2028.

Meanwhile, after the stock market’s close, the peso finished trading at an over one-month high of P58.22 per dollar, gaining 21 centavos from the prior day.

“The PSEi was able to sustain its rally … following the retreat in dollar on hopes that the Federal Reserve will temper its aggressive hawkish stance and as investors continued to pick up shares in anticipation of positive third quarter earnings,” AP Securities, Inc. Equity Research Analyst Carlos Angelo O. Temporal said in a Viber message.

“Philippine shares continued to challenge resistance levels, with the index finally reaching the 6,200 level with one more trading day in October [on Friday],” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.

“Back home, investors reacted positively to a narrowed budget gap in September,” he added.

The majority of the sectoral indices closed higher on Thursday. Holding firms gained 144.90 points or 2.46% to end at 6,029.17; industrials went up by 195.99 points or 2.22% to 9,020.55; services went up by 31.05 points or 1.97% to 1,601.89; financials rose by 27.57 points or 1.77% to 1,579.48; and mining and oil added 5.96 points or 0.05% to close at 10,060.46. 

Meanwhile, property declined by 19.77 points or 0.74% to 2,641.13.

Value turnover went up to P5.64 billion on Thursday with 629.95 million shares changing hands from the P3.72 billion with 311.25 million issues traded on Wednesday.

Advancers overwhelmed decliners, 123 versus 55, while 44 names closed unchanged.

Net foreign buying stood at P195.71 million on Thursday versus the P25.55 million in net selling recorded on Wednesday.

AP Securities’ Mr. Temporal placed PSEi’s support at 5,500 and resistance at 6,400. — A.E.O. Jose

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