THE PHILIPPINES’ agricultural output shrank by an annual 2.6% in the third quarter as crops, livestock and fisheries production declined due to bad weather, the statistics authority reported. Read the full story.
Here’s a quick glance at how PSEi stocks fared on Monday, November 8, 2021.
THE PESO continued to strengthen versus the greenback on Monday on developments of a treatment for the coronavirus disease 2019 (COVID-19) and the relaxation of mobility restrictions in Metro Manila.
The local unit ended trading at P50.16 per dollar on Monday, appreciating by 17 centavos from its P50.33 close on Friday, data from the Bankers Association of the Philippines showed.
The currency’s Monday close is its strongest in more than a month or since it ended trading at P50.14 on Sept. 21.
The peso opened Monday’s session stronger than Friday’s close at P50.30 per dollar. Its weakest showing was at P50.34, while its intraday best was at P50.13 against the greenback.
Dollars exchanged dropped to $933.2 million on Monday from $1.2 billion on Friday.
The peso was backed by risk-on sentiment among investors following a report on progress in research for a COVID-19 treatment.
Reuters reported Friday that Pfizer, Inc.’s experimental antiviral pill was found to reduce chances of hospitalization or death by 89% for adults at risk of developing severe infection.
Pfizer’s pill, with the brand name Paxlovid, could secure US regulatory approval by the end of the year. Pfizer said it plans to submit interim trial results to the Food and Drug Administration before the Nov. 25 US Thanksgiving holiday. The trial was stopped early due to its high success rate.
President Joseph R. Biden said the US government has secured millions of doses of Pfizer’s drug.
Pfizer said it was currently expecting to manufacture more than 180,000 packs by the end of 2021 and at least 50 million packs by the end of 2022.
Meanwhile, a trader said the market was optimistic after the government decided to lift Metro Manila curfew hours last week.
Metro Manila officials lifted the general curfew in the area on Thursday after 19 months since the first lockdown in March 2020.
For Tuesday, Mr. Ricafort gave a forecast range of P50.10 to P50.30, while the trader expects the local unit to move within P50.20 to P50.45 per dollar. — L.W.T. Noble with Reuters
STOCKS continued to rise on Monday on hopes of a further easing in mobility restrictions as coronavirus cases remained low and after the government said the economy grew faster than initially reported in the second quarter.
The 30-member Philippine Stock Exchange index (PSEi) rose by 55.45 points or 0.75% to close at 7,396.22 on Monday, while the broader all shares index gained 19.88 points or 0.44% to end at 4,510.89.
Monday’s close topped Friday’s as “the highest closing rate since Feb. 20, 2020,” which was weeks before the country was first placed on strict lockdown due to the coronavirus pandemic, Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said in a Viber message.
He said the market remains optimistic on expectations of a further reopening of the economy as new coronavirus cases have eased to around 1,000 to 2,000 daily from over 10,000 at the height of the surge in August.
“Philippine shares continue to be bought up, closing at a new [year-to-date] high with the revision of [second-quarter] GDP (gross domestic product) to 12% and the continued earnings releases. In addition, positioning is being made ahead of any announcements from the MSCI, and [third-quarter] GDP which will also be out this week,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said.
The Philippine economy grew at a faster pace in the second quarter than first reported, the Philippine Statistics Authority (PSA) said on Monday.
GDP — the value of all finished goods and services produced in the country at a given period — rose 12% in the second quarter, faster than the 11.8% preliminary estimate.
Third-quarter GDP data will be released by the PSA on Tuesday. A BusinessWorld poll of 18 analysts yielded a GDP growth estimate of 4.7% in the third quarter, lower than the 12% jump in the second quarter of 2021 and a turnaround from the 11.4% decline in the third quarter last year.
Majority of sectoral indices increased on Monday except for mining and oil, which went down by 75.76 points or 0.76% to 9,883.14, and holding firms, which lost 24.01 points or 0.33% to close at 7,125.90.
On the other hand, financials gained 35.76 points or 2.23% to end at 1,636.34; property rose by 34.63 points or 1.4% to 3,383.96; services increased by 27.44 points or 1.40% to 1,979.35; and industrials went up 18.81 points or 0.17% to close Monday’s session at 10,849.48.
Value turnover amounted to P8.30 billion on Monday with 1.34 billion shares switching hands, slightly lower than the P9.42 billion with 1.40 billion issues traded on Friday.
Advancers beat decliners, 107 to 101, while 44 names ended unchanged.
Net foreign buying rose to P908.47 million yesterday from the P695.24 million logged on Friday.
The next important resistance is at 7,500, “prior to further upside potential towards new pre-pandemic highs, going forward,” RCBC’s Mr. Ricafort said. — B.A.D. Añago
SAN Miguel Beermen (SMB) let go of Arwind Santos to acquire Vic Manuel from NorthPort yesterday in a trade that shocked many considering it involved one of the key players in the Beermen’s last championship runs.
Mr. Santos played the last 12 seasons with SMB, forming a formidable “Death 5” with June Mar Fajardo, Chris Ross, Alex Cabagnot and Marcio Lassiter that sparked the franchise to a historic PBA Philippine Cup five-peat.
Overall, Mr. Santos collected nine Philippine Basketball Association (PBA) titles with SMB since jumping over from Burger King in 2009. Along the way, he won the 2013 MVP award plus two Finals MVP plums and two Best Player of the Conference accolades.
The 40-year-old “Spiderman” had a solid stint in the recent All-Filipino, averaging 12.3 points, 8.5 rebounds, 1.8 assists and 1.3 blocks in what turned out to be his “farewell” conference for his long-time squad.
For his part, Mr. Manuel found himself in a new team merely three days after landing at NorthPort in a separate trade from Phoenix.
Mr. Manuel, nicknamed “The Muscle Man,” averaged 12.82 markers and 5.47 boards in an injury-hit one-conference outing with the Fuel Masters, who shipped the forward to the Batang Pier for Sean Anthony last Friday.
The PBA teams are ramping up their buildups ahead of the targeted Nov. 28 kickoff of the import-flavored Governors’ Cup.
At least six of the 12 squads started doing five-on-five training sessions in their regular practice facilities in Metro Manila yesterday. Some of the imports, meanwhile, are expected to arrive in the next few days.
The pro league is hopeful to hold the second conference — possibly with a live audience back — at the Ynares Sports Arena, especially with NCR under the more relaxed Alert Level 2.
“We’ll seek guidance from the IATF (Inter-Agency Task Force) on everything, with the safety of everyone the primordial concern of the league,” said Commissioner Willie Marcial, who is arranging a meeting with IATF officials to fine-tune the safety protocols for the conduct of the games.
Additionally, Mr. Marcial said they will be batting for the return of spectators.
“We’ll also bring that up to the IATF. Kung papayagan, we’ll seek guidance on the protocols — gaano kadami ang papayagan, paano ang sitting arrangements, kailangan ba para sa bakunado lang, etc.,” he said.
KAYA FC-Iloilo kicked off its Copa Paulino Alcantara campaign on a winning note on Sunday, defeating the Azkals Development Team (ADT), 2-0, in Group B play at the Philippine Football Federation National Training Center in Carmona, Cavite.
Second-half goals from Daizo Horikoshi (54’) and Simone Rota (70’) towed Kaya to the win that pushed it closer to booking a spot in the next round of the competition and propel its push to the title it won in 2018.
The contest was tightly fought in the opening half, with the teams fighting to a goalless draw.
ADT continued to stand toe-to-toe with its more experienced opponent early in the second fold until Mr. Horikoshi broke through for Kaya.
The young nationals tried to get back the goal after, only to be frustrated by Kaya, with Mr. Rota giving his team further cushion.
Kaya would stay the course the rest of the way, even when things got physical late in the contest, en route to the victory.
The club now tries to sweep its group assignments in its scheduled match with Mendiola FC 1991 on Wednesday set for 4 p.m.
ADT, for its part, takes on Mendiola on Nov. 13.
Playing in Group A, meanwhile, are Stallion Laguna FC and newcomer Dynamic Herb Cebu FC.
Reigning Philippines Football League (PFL) champion United City Football Club was supposed to play in Group A but last week decided to pull out.
The development leaves Stallion and Cebu as the remaining clubs that will contest the top seeding in the group for the crossover semifinals.
The Copa Paulino Alcantara marks the return of football competition in the country after a year since the PFL staged its “bubble” tournament in 2020.
Copa matches are shown over One Sports and One Sports+ as well as on the PFL’s Facebook and YouTube accounts.
OVER 150 para-athletes across the country will compete in the 2021 Philippine Sport Commission – Pilipinas Para Games (PPG) Online Chess Competition which starts on Nov. 19.
“We are launching this project in our effort to continue efforts to address our need for a truly comprehensive grassroots sports development program for our para-athletes, and continuously harness their full potential,” said PSC Oversight Commissioner for para-athletes Arnold Agustin.
Originally staged in three regional legs, the online chess competition will now be held in one nation-wide event, on six categories namely: Visually Impaired B1 Completely Blind Men, Visually Impaired B1 Completely Blind Women, Visually Impaired B2 Partially Blind Men, Visually Impaired B2 Partially Blind Women, and Physically Impaired Men and Physically Impaired Women.
The PPG is also held in partnership with the Philippine Paralympic Committee and the Integrated Philippine Association of Optometrists on the classification of registered para-athletes.
Competition starts on Nov. 19 via Zoom, from 8 a.m. to 5 p.m., and will conclude on Nov. 21. Winners will receive medals, certificates of excellence and cash incentives.
To prepare the national para coaches and technical officials for this competition, a Para-Chess Online Technical Workshop started Nov. 7. Six of our chess legends in GM Eugene Torre, GM Thomas Luther, GM Jayson Gonzales, IA/IO Casto Abundo, and IA/NM James Infiesto served as resource speakers.
“In a pandemic, we are focusing on chess as it appears to be one of the best solutions for our para-athletes to get themselves going again in sports,” expressed Mr. Agustin.
Registered para-athletes can complete and send their requirements to pilipinasparagames@gmail.com and its official Facebook page. Official list of participants will be announced on Nov. 12.
BRADLEY Beal scored 30 points and the Washington Wizards defeated the visiting Milwaukee Bucks (101-94) on Sunday night.
Beal made 14-of-22 shots and added eight assists as Washington won its second straight game. Kyle Kuzma had 15 points and 10 rebounds, and Montrezl Harrell also scored 15 points.
The Wizards shot 50.6 percent from the field, including 11-of-27 (40.7 percent) from 3-point range.
Giannis Antetokounmpo led the Bucks with 29 points and 18 rebounds. Grayson Allen added 19 points for the Bucks, who opened a five-game road trip with their fifth loss in their past six games. Bobby Portis had 13 points and 13 rebounds.
The Bucks shot 39.4 percent from the field and 10-of-36 (27.8 percent) from 3-point range.
Washington won despite being outrebounded 49-42 and committing 19 turnovers to just 13 for the Bucks.
Beal’s driving layup, his 29th and 30th points of the night, gave the Wizards an eight-point lead, 96-88 with 3:57 left in the fourth quarter.
After Allen missed, Beal and Harrell connected for an alley-oop to push the lead to 10.
Antetokounmpo answered with a dunk and then added two free throws to pull the Bucks within 98-92 with 2:26 to play. Beal turned the ball over and Jrue Holiday’s basket on a goaltending call appeared to make it 98-94, but the call was overturned after a video review.
Antetokounmpo’s dunk did make it 98-94. The teams exchanged misses and then turnovers before Spencer Dinwiddie’s three-pointer off a pass from Beal iced it with 20.3 seconds remaining.
Allen hit two free throws to give the Bucks a 63-60 lead with 7:45 left in the third quarter, but Beal’s layup sparked a 17-4 Wizards run capped by Corey Kispert’s pull-up jumper and Washington led 82-71 after three quarters.
Antetokounmpo scored four straight points to pull the Bucks within 90-83 with 6:20 remaining, and Pat Connaughton’s 3-pointer made it 92-86 with 4:51 left. — Reuters
MATTHEW Wright kicked three field goals on Sunday, and the host Jacksonville Jaguars stifled the Buffalo Bills’ top-ranked scoring offense to produce a 9-6 upset.
Wright’s 21-yarder with 12:10 left in the game snapped a 6-6 tie, and the Jacksonville defense did the rest. The Jaguars sacked Josh Allen four times, including Dawuane Smoot’s 9-yard sack with 1:11 left that took Buffalo out of field-goal range.
Allen’s 4th-and-16 pass for Stefon Diggs with 1:02 remaining fell short, and Jacksonville (2-6) ran out the clock for the biggest win of Urban Meyer’s first season as the Jags’ head coach.
Allen completed 31 of 47 passes for 264 yards and tossed two interceptions. He wasn’t even the best player on the field with his name. Jaguars defensive end Josh Allen was a force all day with eight tackles, a sack, an interception and a pass defensed.
The Bills (5-3) outgained Jacksonville 301-218 but hurt themselves all day. They were flagged 12 times for 118 yards, drawing five 15-yard penalties.
Rookie quarterback Trevor Lawrence missed part of the second quarter with an ankle injury but still hit 15 of 26 passes for 118 yards for the Jaguars.
Tyler Bass tied it for the Bills with a 24-yard field goal at the 3:54 mark, then gave them a 6-3 edge with a 41-yard field goal less than four minutes into the second quarter. Buffalo reached the 24 on that drive before an unnecessary-roughness flag quashed it.
Another Bills penalty — an illegal use of hands infraction — gave the Jaguars a first down on their next possession that pushed them to the edge of Wright’s range. — Reuters
LONDON — West Ham United showed that their place in the Premier League’s top four was fully warranted as they outmuscled Liverpool for a memorable 3-2 victory at a rocking London Stadium on Sunday.
Victory for high-flying West Ham ended Liverpool’s club record 25-match unbeaten run in all competitions and lifted them above Jürgen Klopp’s side into third place in the table.
What always looked like a tough fixture for Liverpool began badly when keeper Alisson, who endured a difficult afternoon, flapped a cross into his own goal after four minutes.
Liverpool were rarely allowed to find their usual fluency but they were level by half time thanks to a moment of magic from Trent Alexander-Arnold.
Those expecting the visitors to find another gear after the break were left disappointed as it was West Ham who took the game by the scruff of the neck.
Craig Dawson hit the bar for West Ham early in the second half as Liverpool wobbled at the back, before Pablo Fornals restored West Ham’s lead in the 66th minute before Kurt Zouma rose to head in West Ham’s third in the 74th minute.
Substitute Divock Origi gave Liverpool a lifeline with a shot on the turn in the 82nd minute and Sadio Mane should have leveled in stoppage time but the hosts clung on for a victory that would be celebrated into the night by the home fans.
West Ham’s fourth consecutive league win moves them to 23 points from 11 games with Juergen Klopp’s side one point behind them and the Hammers head into the international break just three points behind leaders Chelsea.
It was a doubly joyous day for Hammers boss David Moyes who had not tasted a league win over Liverpool for 11 years, losing 10 and drawing four in the interim period as manager of Everton, Manchester United, Sunderland and West Ham.
“I want us to challenge the teams in the top four, I do not know who they will be but I want us to challenge,” Moyes said.
“This result shows that we’re really in with a good chance of challenging.”
It was a day to forget for Liverpool, who have dropped five points in their last two league games, and especially Alisson.
The game was only four minutes old when he flapped at a Fornals corner under pressure from Angelo Ogbonna and the ball ended up in the net. He hoped for a reprieve via a VAR check but the goal was rightly allowed to stand.
Klopp was perplexed by the decision.
“The first they score is a foul on the goalkeeper, the arm goes into Alisson’s arm so how can he catch it? That makes no sense,” he said.
Liverpool were a little lucky not to be down to 10 men after Diogo Jota caught Ogbonna with his elbow, forcing the West Ham player off, although Klopp suggested West Ham’s Aaron Cresswell got away with a reckless challenge on Jordan Henderson.
But they got back into the game when Alexander-Arnold played a short free kick to Mohamed Salah who then stopped it for the English defender to curl past Lukasz Fabianski and temporarily silence the home fans.
Fabianski made a crucial save from Mane’s volley after the break and minutes later West Ham went back ahead as Fornals went clean through and beat Alisson with a low shot that the Brazilian stopper might have saved.
When Zouma headed in shortly after for his first West Ham goal, again with Alisson found wanting, it felt like the roof was coming off the former Olympic Stadium. — Reuters
THE Philippines’ Sander Severino and Jasper Rom overpowered their respective rivals to remain unbeaten and at the helm after three rounds of the online World Chess Championship for People with Disabilities Sunday.
Severino and Rom won both their games with the black pieces with the former smashing Moroccan Jamal Messala in 45 moves and the latter blasting American Griffin McConnell in 60 moves both via a French Defense.
The pair of triumphs kept the multiple ASEAN and Asian Para Games gold medalists in an 18-player lead group with pristine three points in this nine-round tournament that drew 249 participants from 40 countries.
Another Filipino Rodolfo Sarmiento, in contrast, lost his place on top after succumbing to Argentinian Leonel Amato in 41 moves of a Queen’s Pawn London System and fell to a big group at 39th place with two points.
It included two other Philippine bets Henry Lopez and Darry Bernardo.
Lopez split the point with Polish Szymon Kasperczyk in 36 moves of a Slav Defense while Bernardo bounced back from a second-round defeat by dismantling Malaysian Ardian Syah Muming’s Caro-kann Defense in 27 moves. — JV
PARIS — Novak Djokovic put the disappointment of missing out on a rare calendar Grand Slam behind him as he won a record sixth Paris Masters title on Sunday.
The Serbian’s bid to become the first man since Rod Laver in 1969 to win all four majors in the same year was ended by Daniil Medvedev in September’s US Open final, and on Sunday he avenged that defeat by beating the Russian (4-6, 6-3, 6-3) in Paris.
Sunday’s triumph secured Djokovic a record 37th Masters title, capping a successful week in which the 34-year-old had also made sure he would finish the year as world number one for a record seventh time.
“I already closed that (New York) chapter, to be honest. I’m not regretting it, really. I’m not spending days suffering because I didn’t take the calendar slam this year,” Djokovic told a news conference.
“I’m very relieved that the calendar, that the Grand Slam season was done, because I felt a tremendous pressure unlike anything I felt in my life.
“So it was an interesting experience, and I’m very satisfied with the way I played in Grand Slams, three wins and a final. I mean, there is much more positive things to be grateful for and to look at than negative.”
On Sunday, Djokovic remained unflappable despite losing the opening set as he set another record.
“I have always been honest enough to say that the history of our sport is too big a motivation,” he said.
Djokovic will now set his sights to the Nov. 14-21 ATP Finals in Turin, where he will be looking to match Roger Federer’s record haul of six titles at the season-ending event. — Reuters
