How PSEi member stocks performed — October 25, 2021
Here’s a quick glance at how PSEi stocks fared on Monday, October 25, 2021.
Philippines now at low-risk from coronavirus
THE PHILIPPINES is now at low risk from the coronavirus amid declining infections, health authorities said on Monday.
The daily COVID-19 (coronavirus disease 2019) tally fell by 48% in the past two weeks, Health Undersecretary Maria Rosario S. Vergeire told an online news briefing. “Nationally, we are at a low-risk case classification.”
The country’s average daily attack rate — the number of infected people out of 100,000 — dropped to 5.89, she said. The country’s health system capacity was at a moderate risk level, she added.
Coronavirus cases peaked from Sept. 6 to 12, when 20,946 infections were reported daily on average, she said.
“Current average daily cases have further decreased to reach our baseline average before cases started to rise back in July,” she added.
The Philippines had an average of 5,251 daily coronavirus infections from Oct. 18 to 24, Ms. Vergeire said.
Meanwhile Ms. Vergeire said the Philippines posted its first case of the B.1.1318 coronavirus variant that triggered a virus surge in Mauritius.
She said the 34-year-old patient from Bacolod City returned to the country from Saudi Arabia on March 5. He was tested on March 10 and recovered from the virus 11 days later.
“It’s a variant under monitoring,” Ms. Vergeire said. “We have no cause for panic.
We need to be vigilant and follow minimum public health protocols.”
DoH reported 4,405 coronavirus infections on Monday, bringing the total to 2.8 million.
The death toll rose to 41,942 after 149 more patients died, whi le recover ies increased by 7,561 to 2.7 million, it said in a bulletin.
There were 57,763 active cases, 76.2% of which were mild, 6.5% did not show symptoms, 5.3% were severe, 9.72% were moderate and 2.3% were critical.
The agency said 52% of the intensive care units in Metro Manila were occupied, while the national rate was 46%.
DoH said 21 duplicates had been removed from the tally, 14 of which were reclassified as recoveries while 118 recoveries were relisted as deaths. Five laboratories failed to submit data on Oct. 23.
Ms. Vergeire said coronavirus deaths have also been decreasing since the start of October. “Highest recorded deaths were in August with 5,189 deaths or 167 deaths per day,” she said.
Coronavirus infections have decreased in the past two weeks in all regions, which were now at either low or moderate risk from the virus, she added.
Metro Mani la, Cagayan Valley, Zamboanga Peninsula, the Cordillera Administrative Region (CAR), Mimaropa and Ilocos were still at moderate risk from COVID-19.
“Majority of provinces in CAR, Regions 1, 2, 4B, and 9 remain at moderate risk classification, with beds and/or intensive care unit rates at high to critical risk,” Ms. Vergeire said.
In early August, the Philippines became at high risk from As of Oct. 25 2,761,307* total COVID-19 cases, up 4,405 new cases from Oct. 24’s 2,756,923. (*21 duplicates were removed from the total case count. Of these, 14 are recoveries.) Active cases: 57, 763 (from 60,957 previously) Recov ered: 2,661,602 (from 2,654,173 previously) Deaths: 41,942** (from 41,793 previously) (**118 cases that were previously tagged as recoveries were reclassified as deaths after final validation.) Source: Department of Health Case Bulletin as of Oct. 25, 4 PM the coronavirus after a fresh spike in infections spurred by a more contagious Delta variant.
An inter-agency task force recently relaxed the lockdown in the capital region, whose average daily attack rate decreased to 8.56 out of 100,000 people from a week earlier. The Philippines is set to allow the pilot run of face-to-face classes in low risk areas.
On Monday, Educat ion Secretary Leonor M. Briones said 90 schools, five of which are in the Calabarzon region, have been cleared to participate in the limited face-to-face classes. The agency earlier said 120 schools would participate in the test.
The OCTA Research Group from the University of the Philippines on Sunday said infections in the Philippines have declined due to its vaccination program and public compliance with health protocols.
The Philippines, which scored poorly in a global index that measured the recovery of more than 100 countries from the coronavirus pandemic, targets to inoculate at least 50% of its adult population by year-end.
The delivery of coronavirus vaccines to provinces remained a challenge, vaccine czar Carlito G. Galvez, Jr. said at the weekend.
The Philippines has 10 million coronavirus vaccine doses in its warehouses that are ready for distribution, while 40 million doses were ready to be given out, he said. — Kyle Aristophere T. Atienza
DoH approves plan to give frontliners COVID-19 boosters
THE DEPARTMENT of Health (DoH) has approved a plan to give health workers and other priority groups booster shots against the coronavirus to prevent a resurgence in infections.
The government is seeking to give out the third dose by November or December, Health Undersecretary Maria Rosario S.
Vergeire told an online news briefing on Monday.
“We might be able to do it this in November and December if the Food and Drug Administration will issue an emergency use authorization to existing vaccines,” she said in mixed English and Filipino.
The authorization for most vaccines does not cover booster shots, she pointed out.
“We are already planning it.” Some countries have ditched their COVID- zero strategy and are now aiming to live with the virus through higher vaccinations.
The Health Technology Assessment Council recommended the booster shots to the Health department.
People who have been injected with AstraZeneca, CoronaVac and Moderna vaccines were advised to use Pfizer shots as their booster shots.
AztraZeneca can be used for people injected with CoronaVac, the council said.
Those who were given Pfizer and Janssen vaccines should receive the same brand for their booster, it added.
People with an impaired immune system should get a third dose of the same brand at least 28 days after being fully vaccinated.
These include people being treated for leukemia, human immunodeficiency virus or HIV, those getting an organ transplant and patients with a rare disease and on dialysis.
The council said it had “considered the best available evidence” in endorsing booster shots, including their effectiveness against COVID-19 variants such as Delta; delivery and logistics, including supply; and cost per dose.
The primary goal of vaccination against the coronavirus is to protect against hospitalization, severe disease and death according to the World Health Organization (WHO).
“Booster doses may only be needed if there is evidence of insufficient protection against these disease outcomes over time,” it said on its website.
The degree of waning immunity and the need for booster doses may differ between vaccine products, target populations, circulating SARS CoV-2 virus, in particular variants of concern, and intensity of exposure, it said.
“For some vaccines, restricted booster indications have been included into the product label of some jurisdictions,” it added.
The WHO also noted that during a period of continued global vaccine supply shortage, equity considerations at country, regional and global levels remained an essential consideration to ensure the vaccination of high priority groups in every country.
“Improving coverage of the primary vaccination series should be prioritized over booster vaccination.” “To date, the evidence remains limited and still inconclusive on any widespread need for booster doses following a primary vaccination series,” the WHO said.
Also on Monday, the Science and Technology department said the Philippines might start testing a combination of coronavirus vaccines as early as this week.
The vaccine made by China’s Sinovac Biotech Ltd.
and other brands would be used for the so-called mix-and-match trials that will involve as many as 1,500 unvaccinated people, Science and Technology Undersecretary Rowena Cristina L.
Guevara told DZMM radio.
The Philippines targets to inoculate at least half of its adult population by year-end.
About 25.7 million people or 33.33% of adult Filipinos had been fully vaccinated against the coronavirus as of Oct 24. — Kyle Aristophere T. Atienza and Norman P. Aquino
Duterte to attend 38th ASEAN Summit virtually
PRESIDENT Rodrigo R. Duterte will attend the 38th summit of southeast Asian leaders on Oct. 26 to 28 virtually, his spokesman said on Monday.
The annual meeting of the heads of state of the Association of Southeast Asian Nations (ASEAN) is hosted this year by Brunei Darussalam.
Mr. Duterte will participate “via Zoom or computer hook-up,” Palace Spokesman Herminio L. Roque, Jr. told a televised news briefing.
Mr. Roque said the agenda that Mr. Duterte will discuss during the summit will be known “in the coming days.”
The Palace official said that ASEAN countries will also hold meetings with the United States, China, the Russian Federation, Japan, Republic of Korea, Republic of India, and Australia.
The 10-member regional grouping is composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, and Vietnam.
Myanmar’s Min Aung Hlaing, who led a military coup in February and has taken over government, will not be attending after ASEAN foreign ministers decided on Oct. 15 to exclude him from the summit. — Kyle Aristophere T. Atienza
Cebu City further eases restrictions with Alert Level 2 guidelines
MORE BUSINESSES in Cebu City such as cinemas and other leisure establishments can now resume operations as the local government announced Monday the implementation of guidelines under the Alert Level 2 category.
The loosening of restrictions, which immediately took effect Monday, include the removal of the coronavirus test requirement for fully-vaccinated visitors.
“But I must emphasize that we pursue these with tact, more responsibility and caution by enterprise and institutions,” Vice Mayor Michael L. Rama, currently the acting mayor, said in a prepared message read during a streamed press conference.
“The same goes to everyone else, every citizen… all to be conscious about the practice of basic yet proven health protocols,” he said.
The local rules are based on the guidelines released by the national COVID-19
task force in September.
These include the reopening of indoor leisure sites such as museums at 50% of venue capacity.
Mr. Rama said employers of these establishments “may now have to require their employees to be fully vaccinated to be able to report for work.”
“It’s all about freedom with responsibility, self-regulation as individuals and as organized enterprises, like the cinemas and other recreational destinations, and entrepreneurial associations,” Mr. Rama said.
Minors and those above 65 years old are also now allowed to go out, but with limitations such as for physical exercises and essential needs. Those above 65 also have to be fully vaccinated.
Granular lockdowns will also still be imposed in areas where there will be a significant number of clustered coronavirus cases.
Cebu City is the commercial center of the island province with the same name, but is independent from the provincial government.
DAVAO CITY
In Davao City, the total liquor ban has been lifted after almost a year in effect.
Mayor Sara Duterte-Carpio on Monday issued a modified executive order allowing the sale of alcoholic drinks except between 1 to 8 a.m.
Drinking in public spaces, including bars and restaurants, is still prohibited. — with a report fromMaya M. Padillo
GenSan City, Clark Corp. revitalize ties with new agreement signed
GENERAL SANTOS City and Clark Development Corp. (CDC) are reenergizing economic ties with the recent signing of an agreement to boost trade and tourism.
“Today, we will officially seal an agreement that will benefit from this collaboration that will enhance trade, investment, and tourism activities and ensure convenient and efficient delivery of meaningful services to our respective stakeholders,” GenSan Mayor Ronnel C. Rivera said in his message during the hybrid signing event on Oct. 22.
Aside from CDC, the agreement was also signed by Clark International Airport Corp. and the Subic-Clark Alliance for Development.
The Central Luzon-SOCCSKSARGEN (South Cotabato-Cotabato-Sultan Kudarat-Sarangani-GenSan) Products Exchange was also officially launched to expand linkages between the two regions.
CDC President and Chief Executive Officer Manuel R. Gaerlan said they are aiming to revive direct flights between Clark and GenSan, which recently inaugurated its upgraded airport.
“This pandemic caused us a lot of displacement, a lot of stress, but I hope we maintain our partnership in the future na ma-connect din tayo not only through the internet but yung connecting flights,” Mr. Gaerlansaid.
An inaugural flight between GenSan and Clark in Pampanga was launched in Feb. 2020, just before the onset of the coronavirus pandemic in March. The launch was complemented by a matching session among the two areas’ business communities.
GenSan first forged a partnership with CDC in Sept. 2019, alongside agreements with the Pampanga cities of Angeles, Mabalacat and San Fernando.
The agreements were part of a program to encourage trade linkages under the United States Agency for International Development’s Strengthening Urban Resilience for Growth project. — MSJ
Solon pushes for clear gov’t action plan on COVID-19 waste
A PARTY-LIST representative said the government should start taking the problem of medical waste seriously as single-use personal protective equipment (PPEs) such as face masks are being extensively used amid the coronavirus pandemic.
House Deputy Speaker and BH Party-list Rep. Bernadette Herrera-Dy said the government needs to “develop and implement an action plan” that will concretely address the matter before it causes significant harm to the environment.
“Beyond causing a deadly respiratory disease, the coronavirus has brought a new, and largely overlooked, threat to human health: more potentially harmful microplastics in the environment, this time from used PPE,” she said in a statement.
Ms. Herrera-Dy proposed that the government’s waste management plan includes intensified monitoring activities by agencies such as the Department of Health, Department of the Interior and Local Government, and the Department of Environment and Natural Resources.
The lawmaker also said that poor management of coronavirus disease 2019 (COVID-19) waste would expose healthcare workers and other frontliners to possible infection.
The Philippines has generated 634,687 metric tons of healthcare waste from hospitals nationwide from June 2020 to June 2021, based on data from the Environment department.
“Proper waste management is more important than ever, and we hope the national government, LGUs (local government units), hospitals and the general public will work together to ensure the proper handling and disposal of COVID-19 waste,” Ms. Herrera-Dy said. — Russell Louis C. Ku
Senate bill filed banning candidate substitution
A BILL has been filed in the Senate seeking to ban the option to substitute an electoral aspirant who voluntarily withdraws candidacy.
Senate Bill 2439 proposes to amend Section 77 of the Omnibus Election Code such that a candidate may only be replaced if incapacitated or disqualified.
“It is just being abused by others. If you file, that’s it. It should no longer be changed. You will only be replaced if you die or if you are disqualified,” Senator Sherwin T. Gatchalian said in Filipino in a statement Monday.
The law currently allows substitution until a set deadline if the candidate of an accredited political party dies, is disqualified for any cause, or withdraws from the electoral race.
Mr. Gatchalian said that the provision has been abused over the years, noting that it was a “mockery of the process of the filing of certificates of candidacies.”
A counterpart bill was filed in the House of Representatives earlier this month by Cagayan de Oro Rep. Rufus B. Rodriguez. — Alyssa Nicole O. Tan
Manila dolomite beachgoers will be limited to 15-minute stay
PEOPLE going to the Manila Baywalk Dolomite Beach, a mock-up white sand area, will be limited to a maximum stay of 15 minutes, according to Environment Undersecretary Jonas R. Leones.
“We have undertaken a carrying capacity study in the area, and based on our study, there should only be 10,000 people at any given time,” Mr. Leones said in an interview at CNN’s The Source on Monday.
He also said they will be closing the area for one day per week for maintenance.
Mr. Leones reported that a total of 8,000 people flocked to the area when it re-opened to the public on Oct. 16 as Metro Manila’s quarantine classification was downgraded after more than a year of one of the longest and strictest lockdowns in the world.
A day after, the number of visitors more than tripled to 25,000. On Saturday, Oct. 23, the number of people who visited the area doubled to 50,000.
“Maybe it’s not just the excitement (to go out) but the people were also curious about the dolomite. Maybe that was their compelling reason why they really wanted to go and see the area,” Mr. Leones said.
He said they have also opened an expansion area to accommodate more people but it was still not enough.
The 1.2-hectare Dolomite Beach, named after the P389 million worth of artificial white sand or “dolomite” it is made up of, is part of the national government’s program to rehabilitate the Manila Bay. — Bianca Angelica D. Añago
PHL shares drop on profit taking, rise in oil prices
PHILIPPINE shares fell on Monday on profit taking due to inflation concerns as global oil prices continued to climb.
The 30-member Philippine Stock Exchange index (PSEi) dropped by 78.07 points or 1.07% to close at 7,211.54 on Monday, while the broader all shares index lost 25.86 points or 0.57% to end at 4,436.84.
“PSEi corrected lower after global oil prices remain elevated, lingering among seven-year high, that could lead to some uptick in inflation,” Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a Viber message.
“Wider budget deficit data, the widest in four months, also partly led some healthy profit taking in the local stock market, as this could lead to more government borrowing and debt stock,” Mr. Ricafort added.
Oil prices rose further on Monday, with US crude hitting a seven-year high as global supply remained tight amid strong demand worldwide, Reuters reported.
Brent crude rose 0.83% to $86.24 a barrel, while US crude rose 0.80% to $84.51.
Meanwhile, the government’s budget deficit widened by 30% to P180.9 billion in September from P138.5 billion a year earlier as spending overtook a smaller increase in revenue collection, the Bureau of the Treasury reported on Monday. This was also 49.6% higher than the P120.9-billion gap seen in August.
Timson Securities, Inc. Trader Darren Blaine T. Pangan said in a Viber message that the market finished lower as investors were cautious and chose to stay on the sidelines ahead of the release of more third quarter earnings of companies and US gross domestic product (GDP) data.
Traders are waiting for US third quarter GDP figures due Thursday with a weak print likely to weigh on the dollar.
Majority of sectoral indices declined on Monday, except for financials, which went up 3.50 points or 0.22% to 1,555.75, and services, which gained 3.82 points or 0.2% to 1,878.44.
Meanwhile, property gave up 82.42 points or 2.45% to end at 3,272.16; holding firms dropped 113.74 points or 1.55% to 7,213.68; mining and oil declined by 52.03 points or 0.49% to 10,456.09; and industrials went down 28.79 points or 0.27% to close Monday’s trading session at 10,644.61.
Value turnover amounted to P5.57 billion on Monday with 913.57 million shares switching hands, higher than the P5.32 billion with 785.36 million issues traded on Friday.
Decliners beat advancers, 120 to 75, while 55 names ended unchanged on Monday.
Net foreign buying was at P79.74 million yesterday, a reversal of the P17.86 million in net outflows logged on Friday.
RCBC’s Mr. Ricafort put the PSEi’s immediate support at 7,000 and its next resistance at 7,400 to 7,500.
Diversified Securities, Inc. Equity Trader Aniceto K. Pangan said via text that the benchmark index could move from 7,000 to 7,450 this week. — BADA with Reuters
Peso strengthens against the dollar as Fed chief says rates may stay low
The peso strengthened versus the greenback as the chief of the US Federal Reserve signaled it could keep rates near zero while the job market remains challenged.
The local unit closed at P50.68 per dollar on Monday, gaining 10.6 centavos from its P50.786 finish on Friday, based on data from the Bankers Association of the Philippines.
The peso opened Monday’s session stronger at P50.73 per dollar. Its intraday best was at its close of P50.68, while its weakest showing was at P50.825 against the greenback. Dollars exchanged dropped to $923.4 million on Monday from $1.068 billion on Friday.
The peso appreciated versus the greenback on Monday after Fed Chairman Jerome Powell stressed they will keep rates low even when they start the asset purchases sooner, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said via Viber.
“I do think it’s time to taper. I don’t think it’s time to raise rates. We think we can be patient and allow the labor market to heal,” Mr. Powell said at a virtual appearance on Friday as reported by Reuters.
Mr. Powell’s view is high inflation will likely abate next year. Meanwhile, he said the Fed’s full employment goal could be met next year, if supply-constraints eased as expected and if the service sector creates more jobs.
Meanwhile, a trader said in an e-mail that the market was also monitoring US spending proposals from Democrat lawmakers.
Reuters reported on Monday that Democrats are expected to present a bill that would increase tax collections from the country’s roughly 700 billionaires to help pay for expanding the social safety net, with the plan likely to be between $1.5 trillion to $2 trillion.
For Tuesday, Mr. Ricafort gave a forecast range of P50.57 to P50.77, while the trader expects the local unit to move within P50.60 to P50.80 per dollar. — L.W.T. Noble with Reuters
Magnolia relieved adjustments in defense paid off in Game 3
By Michael Angelo S. Murillo, Senior Reporter
The Magnolia Pambasang Manok Hotshots were relieved to finally break through with a win in the ongoing best-of-seven PBA Philippine Cup finals after taking Game Three, 106-98, over the TnT Tropang Giga on Sunday, thanks they said to adjustments they made particularly on the defensive end.
Following losses in the first two matches, the Hotshots were in desperate need of a win lest they kiss their title hopes in the season-opening Philippine Basketball Association (PBA) tournament goodbye.
And while they still had to dig deeper against a no-quit Tropang Giga crew in Game Three, they nonetheless positioned themselves better to compete on a firmer footing than the previous outings.
“I think we played defense better than we did in the first two games. The defensive mindset is very important. It brought us where we are now. And we all agreed that we have to play better defense to win. And we did,” said Magnolia coach Chito Victolero after their win.
Magnolia finally got the good opening half in Game Three that eluded it early in the series.
Led by the trio of Paul Lee, Calvin Abueva and Jio Jalalon, the Hotshots took the first quarter, 26-20, and kept the Tropang Giga at bay, 52-46, at the break.
The Hotshots continued to hum to start the third quarter.
They outscored TnT, 23-15, in the first seven minutes to stretch their lead to 14 points, 75-61.
But the Tropang Giga just showed much resolve, even after Troy Rosario went down with a dislocated left pinkie following a hard fall, narrowing their deficit to just five points, 82-77, heading into the final quarter.
Rattled at the end of the previous quarter, Magnolia reestablished control at the start of the payoff canto, extending its lead to 18 points, 95-77, with 7:49 to go in the match.
The Tropang Giga charged back, led by the hot-shooting of rookie Mikey Williams, trimming the Magnolia lead to just three points, 98-95, with 1:11 left.
However, Magnolia scored four straight points after to put the game out of reach.
“We’re happy for the win but we’re taking it a game at a time. We’ve been in this situation before. We’ve experienced it and looking forward to coming back on Wednesday prepared and ready to play again,” said Mr. Victolero.
Magnolia tries to level the series in Game Four set for Wednesday at the Don Honorio Ventura State University Gym in Bacolor, Pampanga.