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Printed in days, a house: New York firm takes 3D printing to the next level

MOST HOMES are built block by block, or brick by brick. But a demo house in Calverton, New York, was constructed scan by scan — its walls made using a giant three-dimensional printer.

The demo house was built by construction firm SQ4D, to show the public and industry what was possible. Now, the company is putting one up for sale — a still to-be-built house in the nearby town of Riverhead, which has been listed on property site Zillow at $299,000.

With a detached garage, the house will cover some 1,400 square feet (130 square meters). The footings, foundation and slab, along with the walls, will be entirely made with the 3D printer.

“We instruct the machine to go around and follow your floor plan each pass as we go by. We’re constantly building up,” said Kirk Andersen, the director of operations for SQ4D.

Mr. Andersen and his colleagues had to design and build their own printer to fulfill their house-sized dream.

“We took the idea of a plastic 3D desktop printer and wanted to make it much larger and spit out concrete,” said Mr. Andersen.

“We set tracks on each side of the structure where we plan to print. We set up our giant gantry, our large scale printer goes back and forth, extruding these layers one by one, stacking, building all your walls.”

Mr. Andersen said the actual printing time for the walls took about 48 hours, part of an overall eight-day process to build the entire home.

That is significantly faster and around 30% cheaper overall than a home built using standard construction methods, he said, where laborers need to tow in and stack blocks manually.

“We show up with a printer. We can replace the labor-intensiveness of those guys and extrude concrete much faster than they can lay the bricks,” he said.

Not everyone in the construction industry is thrilled at that prospect, and the process has received mixed feedback, he said, with some skepticism in particular from older tradesmen.

“I think people are just unprepared for how this is going to change construction,” said Mr. Andersen. “This is the beginning. This is just scratching the surface right here.” — Reuters

ATN to supply more rock aggregates to first phase of north-south commuter rail

LISTED ATN Holdings, Inc. said that it is gearing up to supply more rock aggregates to the 38-kilometer (km) segment of the North-South Commuter Railway, which spans Tutuban, Manila to Malolos, Bulacan, after the company received additional purchase orders for the project, the firm said on Wednesday.

The 148-km railway will connect New Clark City, Pampanga to Calamba, Laguna.

In a regulatory filing, ATN said that it had recently received additional purchase orders for the delivery of rock aggregates for the first phase of the project. It said that it was already serving the railway’s batching requirements in Metro Manila.

“Recently, ATN received additional purchase orders for the delivery of rock aggregates to Bulacan,” the firm said.

BusinessWorld reached out to ATN to clarify the number of additional purchase orders it received, and the updated amount of rock aggregates it would need to supply to the project, but has not yet received a reply as of press time.

In a statement, ATN Chairman and President Arsenio T. Ng said that the firm was simultaneously catering to multiple batching sites for the first phase of the railway.

“By and large, this is a strong testament to the size of our extractable reserves, operational capabilities, and superior product quality. For a project of this magnitude, continuity of premium raw material supply is of critical importance,” he was quoted as saying.

ATN said that the first phase of the railway, which has a contract value of P54 billion, was awarded to the joint venture of contractor D.M. Consunji, Inc. and Japan’s Taisei Corp.

This comes around four months after the firm announced that it was taking part in the first phase of the project, and the rock aggregates it supplied would be used for construction.

Last week, ATN said that it had secured an environmental compliance certificate (ECC) for its 82-hectare integrated aggregates project in Rodriguez, Rizal.

The certificate, which was issued by a unit of the Department of Environment and Natural Resources (DENR), covered a yearly extraction rate of 7 million dry metric tons of aggregates in the project area.

Based on the DENR’s citizen’s charter, an ECC must be obtained from the department’s Environmental Management Bureau for “environmentally critical” projects.

ATN, which operates rock extraction facilities in Rizal, also has interests in real estate and renewable energy.

ATN shares at the local bourse inched up 1.05% or 0.01 centavos to finish at P0.96 apiece on Wednesday. — Angelica Y. Yang

Snack your way to better health with bite-sized exercise breaks

THE new Guidelines on Physical Activity and Sedentary Behaviour published by the World Health Organization (WHO) are notable for what is missing: the minimum time for an exercise session.

Similar to previous guidelines, these recognize the importance of regular activity on physical and mental well-being. The guidelines recommend a target between 150 and 300 minutes per week of moderate activity (such as brisk walking) or 75 to 150 minutes per week of vigorous activity (such as running) or a combination of the two.

Gone is the requirement that your exercise minutes need to be conducted in chunks of at least 10 minutes.

My research group investigates the role of regular physical activity on health and disease. Our research indicates the health and fitness benefits from exercise begin from the very first step of movement. These benefits continue to accumulate in a linear fashion up until 300 to 400 minutes per week of moderate activity. Beyond that, benefits continue to occur, but at a reduced rate.

The change in WHO’s guideline follows the Physical Activity Guidelines for Americans, 2nd Edition, which removed this minimum requirement in 2018. This change was made because there is no evidence to indicate that exercising for at least 10 minutes is better than bouts of shorter duration.

This is great news for people who find it hard to fit in exercise, and very timely given the challenges the current pandemic has presented to many people’s daily activities. People have seen their step counts decrease by up to 50% during coronavirus disease 2019 (COVID-19).

Supporting these guidelines is research on so-called exercise snacking: short bursts of activity that you snack on throughout the day. Exercise snacking has grown out of research on high-intensity interval training (HIIT) — repeated bursts of high-intensity exercise interspersed with active rest (low-intensity exercise, usually of the same activity). Sandwiched between a warm-up and cool down, a full HIIT session may last 20 to 30 minutes.

Exercise snacking differs from HIIT in both the duration of the activity burst and the time in between. Whereas the exercise bursts in HIIT can range from 30 seconds to four minutes, in exercise snacking, these are reduced to 20 seconds.

The effect of these snacks on fitness was tested in a study of 28 inactive adults. Those randomized to doing three 20-second bike sprints separated by one to four hours of inactivity, three times per day for three days per week experienced a 9% improvement in cardiorespiratory fitness. This was comparable to the 13% improvement in the group that conducted the three 20-second bike sprints over a 10-minute period.

Now this doesn’t mean going to the gym for a minute several times per day, or needing your own home gym. Or even getting into spandex. The beauty of exercise snacks is that you don’t need any equipment. Even climbing three flights of stairs, three times per day, three days per week for six weeks resulted in a modest increase in fitness in non-exercisers. This small amount of activity is enough to improve insulin metabolism in people who are overweight, confirming earlier research indicating two minutes of moderate walking every 20 minutes reduces blood sugar following a high-sugar test drink.

Exercise snacking isn’t new, although the research and the term are. If you’ve ever been sitting at your computer or watching TV and had the urge to stand up and walk around or stretch, you’ve had an exercise snack. This type of body and brain break is famous among many writers. Dan Brown, author of The Da Vinci Code, spends a minute every hour when writing doing push-ups and sit-ups. And why not? Short bursts of exercise can give you an energy boost and improve your productivity.

What makes the exercise snack different from standing up and stretching or walking to the kitchen, is increasing your heart and breathing rates. But you don’t need to worry about sweating. Moving about for one to two minutes isn’t enough time for you to start. This is makes it easy to do in everyday clothes.

Some activities you can do include stair climbing, jogging in place, jumping jacks and burpees. You can even do a brisk walk or jog around the block. If you have a stationary bike or rowing machine, just jump on that for a minute or so.

If you want something of longer duration, there’s the Royal Canadian Air Force 11-minute workout plan. Developed in 1959, you can do this program at home without any equipment (although keeping your knees bent during sit-ups is advisable). Researchers recently studied a modified version of this program, and found it effective at improving fitness.

It’s still ideal to get in your regular meal of exercise as well as your snacks. But exercise snacks are a great way to build activity into your day.

If you think you’ll have a hard time remembering to get up every so often, technology can help. From a simple cooking timer, to the alarm on your phone, to watches that vibrate reminding you to get up. But perhaps the most effective may be using a screen time app on your computer, tablet, or phone. Some of these apps lock out your device for a set period of time, giving you the impetus to get up and move. — Reuters

 

Scott Lear, a Professor of Health Sciences at Simon Fraser University, writes the weekly blog Feel Health with Dr. Scott Lear.

TDF yields rise after BSP decision

YIELDS ON THE Bangko Sentral ng Pilipinas’ (BSP) term deposits inched up on Wednesday despite higher demand following the central bank’s decision to leave its policy settings untouched and also tracking the rise in US government bond rates.

Total tenders for the central bank’s term deposit facility (TDF) stood at P739.382 billion on Wednesday, beyond the P600 billion it auctioned off as well as the P634.979 billion in demand seen last week.

Broken down, the seven-day papers fetched bids amounting to P258.927 billion, surpassing the P200-billion offering as well as the P228.491 billion in tenders logged last week.

Accepted rates for the one-week TDF tenor were seen from 1.59% to 1.698%, a slimmer band compared with the 1.59% to 1.75% logged a week ago. This caused the average rate for the one-week term deposits to inch up by 1.56 basis points (bps) to 1.631% from 1.6154%.

Meanwhile, demand for the 14-day deposits amounted to P480.455 billion, beyond the P400 billion on the auction block as well as the P406.488 billion in bids logged on Feb. 10.

Banks asked for yields ranging from 1.59% to 1.7925%, a tighter margin than the 1.59% to 2% in the previous auction. This brought the two-week tenor’s average rate to 1.6443%, higher by 1.79 bps from the 1.6264% seen a week ago.

The BSP did not auction off 28-day term deposits for the 18th straight week. This follows the start of BSP’s weekly offerings of bills with the same tenor.

The TDF and BSP securities are tools used by the central bank to mop up excess liquidity in the financial system and to better guide market interest rates.

“The results of Wednesday’s auction reflect market participants’ search for yields amid ample financial system liquidity,” BSP Deputy Governor Francisco G. Dakila, Jr. said in a statement.

Yields on the term deposits picked up after the BSP maintained benchmark interest rates last week despite the higher inflation seen in recent months, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The central bank last week kept benchmark interest rates at record lows to support the Philippine economy’s recovery from the coronavirus pandemic.

In its first policy setting for the year, the Monetary Board maintained the overnight reverse repurchase rate at a record low of 2%. The rates on the BSP’s lending and deposit facilities were likewise kept at 2.5% and 1.5%, respectively.

However, the BSP raised its average inflation forecast for the year to 4%, the upper end of its 2-4% target, from 3.2% previously.

The central bank, meanwhile, lowered its inflation forecast for next year to 2.7% from 2.9% previously.

Headline inflation reached a two-year high at 4.2% in January as prices of meat and vegetables spiked due to supply shortages.

“TDF auction yields were also higher partly due to sharp increase in the benchmark 10-year US government bonds,” Mr. Ricafort said in a text message.

Benchmark 10-year US Treasury yields rose to their highest level in a year on Wednesday in Asia as progress in passing a large fiscal stimulus package and rising inflation expectations pushed up rates.

Yields on 10-year Treasuries climbed to 1.329%, the highest since Feb. 27 last year, before pulling back to 1.3023%. — Luz Wendy T. Noble with Reuters

Kaspersky says threats targeting e-learning platforms are rising

INTERNET SECURITY firm Kaspersky said cyberattacks on the education sector continue to rise as schools pursue a hybrid model of learning amid a pandemic crisis.

Cyberattackers use popular online learning platforms as lures, Kaspersky said in an e-mailed statement on Monday.

It noted users around the globe who encountered threats “distributed under the guise of online learning platforms or video conferencing applications” from January to June 2020 had surged 20,455% to 168,550 when compared with the number of cases in the same period in 2019.

“As of January 2021, the number of users encountering various threats using popular online learning platforms as a lure reached 270,171 — a 60% increase from the first half of 2020,” it added.

The internet security firm identified Zoom as the most popular lure used by cybercriminals.

“This is not surprising, given that Zoom is the most popular platform for virtual meetings, with more than 300 million daily meeting participants,” it said.

Also popular among cyberattackers are Moodle and Google Meet.

“The number of users who encountered threats disguised as popular online learning or video conference platforms increased for all but one platform — Google Classroom,” Kaspersky added.

Threats disguised as video meeting applications are encountered when fake application installers are used.

“They may encounter (threats) on unofficial websites designed to look like the original platforms or e-mails disguised as special offers or notifications from the platform,” it said.

About 98% of the threats encountered were “not-a-virus.” Such threats are classified into two: riskware and adware. “Adware bombards users with unwanted ads, while riskware consists of various files — from browser bars and download managers to remote administration tools — that may carry out various actions on your computer without your consent,” it said.

Meanwhile, about 1% of the threats encountered by users were Trojans.

Kaspersky security expert Anton Ivanov said cybercriminals will continue to target schools, where cybersecurity is not a priority, until all students are back in their physical classrooms.

“The pandemic has made it clear that this has to change, especially since technology is increasingly being incorporated in the classroom — virtual learning or not,” he said.

To avoid threats disguised as video conferencing applications or online learning platforms, Kaspersky said: “Do not download any unofficial versions or modifications of these applications or platforms.”

“Use different, strong passwords for each of your accounts,” it said. “Always make sure you are on the official company website before proceeding to download anything to your device.” — Arjay L. Balinbin

Cebu Pacific operator sets final terms of stock rights offer

CEBU AIR, Inc., the listed operator of budget carrier Cebu Pacific, announced Wednesday the final terms of its stock rights offer to raise almost P12.5 billion, partly aimed at addressing the impact of the pandemic crisis on its operations.

In a statement, the company said it intends to raise P12,499,999,984 from the issuance of peso-denominated convertible preferred shares.

As for the entitlement rights, it will offer 328,947,368 of cumulative, non-voting, non-participating convertible preferred shares with a price of P38 per share.

The dividend yield per annum was set at 6%.

The company set the conversion price at P38 per share.

The offer period will start on March 3 and end on March 9.

Cebu Air set March 29 as the tentative listing date.

The company intends to use the net proceeds from the offer to strengthen its balance sheet “by providing liquidity to address its financial liabilities, including P4.805-billion allocation for repayment of an advance by JG Summit Philippines Ltd.; P3.913-billion budget for aircraft operating lease payments due in 2021; P3.328 billion for principal debt repayments, which is also due this year; and P0.384-billion allocation for general corporate purposes, “which are primarily for passenger refunds in case cash inflows from operations become insufficient as a consequence of the pandemic’s impact on health and travel-related concerns.”

Cebu Air suffered a net loss of P14.69 billion for the first nine months of 2020 from the P6.77-billion profit it generated in the same period in 2019.

Cebu Air shares closed 1.18% lower at P50.10 apiece on Wednesday. — Arjay L. Balinbin

UnionBank sets sights on mass market, small firms

UNIONBANK of the Philippines Inc. is looking to expand its client base to include more micro-, small-, and medium-sized (MSMEs) enterprises as these firms move to digitize their operations amid the coronavirus pandemic.

“It’s a large market and we think that this segment needs attention at this time,” UnionBank Executive Vice-President and Chief Mass Market and Financial Inclusion Executive Manuel G. Santiago, Jr. said in an online briefing.

The market has about 15 million prospective clients that belong to either the banked, underbanked, and unbanked segments, he said. Mr. Santiago noted that 13 million of this total are composed of self-employed entrepreneurs exploring ways to digitize their operations.

To date, UnionBank has about 200,000 MSME clients, Mr. Santiago said, which is higher than the 175,000 seen as of last month when the bank launched an MSME app that allows small businesses to manage their financial operations via an online platform.

UnionBank President and Chief Executive Officer Edwin R. Bautista said their goal is to bring this number up to one million MSMEs.

The bank is working to improve its digital credit underwriting and has partnered with Lazada Philippines to offer loans to sellers within the online platform, Mr. Santiago said.

“The advantage of having a tie-up like that is that you’re able to have access to data regarding sales generated by the seller and therefore you really don’t need to ask to submit documents as long as they authorize the release of information for credit underwriting,” he said.

Amid the crisis, Mr. Santiago said UnionBank’s MSME loans have a default rate of “about 7%.” He said this peaked at 9% but has since trended lower.

MSMEs are seen as a vital part of the economy as they make up for about 99% of businesses across the country.

The central bank has moved to push lenders to extend credit to the sector amid the pandemic, allowing MSME loans to count as alternative reserve requirements.

Latest data from the Bangko Sentral ng Pilipinas showed MSME loans stood at P464.34 billion out of P8.609-trillion loanable funds as of the third quarter in 2020. This is below the 10% credit quota under Republic Act No. 6977 or the Magna Carta for MSMEs. — L.W.T. Noble

Dining In/Out (02/18/21)

Crimson Hotel offers take home

CRIMSON Hotel’s Café Eight now offers its signature dishes for delivery. Best shared with family and friends, each dish is good for three to four persons and is served with rice. They are: Lamb caldereta (P899), lamb shoulder meat is prepared sous vide with potatoes, carrots, olives, bell peppers and garbanzos; Miso braised pork belly (P799), slow-braised pork belly with the rich saltiness of miso, served with stir-fried vegetables on the side; and Smoked cured ox tongue with chocolate sauce (P999). For inquiries, call 8863-2222 local 1612, 0998 9613409, or e-mail dining@crimsonhotel.com.

Shake Shack introduces Chick’n Bites

CHICK’N BITES are making their way to Shake Shack in Manila starting Feb. 18 for a limited time. Chick’n Bites are crispy pieces of chicken breast served in six or 10 counts with a choice of BBQ sauce or Honey Mustard for dipping. Chick’n Bites are always made fresh to order with all-natural, antibiotic-free whole muscle. The Bites are sous-vide cooked, making them extra juicy, flavorful and tender, and then breaded in flour, cayenne, and paprika before being crisp-fried. One can order ahead via GrabFood or foodpanda or call the nearest Shake Shack.

BIGGS pivots from dine-in to digital

THE 38-year old Bicol-born BIGGS restaurant chain is now online. As other restaurants scrambled to cut costs, grow their delivery segment, and diversify their products, BIGGS chose to look at its customers for the answer. In particular, a BIGGS customer in their kitchen looking through their fridge for easy-prep, delicious, filling comfort food which can be prepared with the help of a pan, an oven, or a grill. So the restaurant came out with Biggs Ready-To-Cook Ribs. Half a year later, with over 10 products and 12 more in the pipeline, the brand is reigning in both the digital (with a vibrant e-commerce page) and retail spaces (over 50 stores in Metro Manila and Bicol). Biggs Ready To Cook is the retail arm of restaurant chain BIGGS. It is a line of easy, ready-to-cook frozen versions of the BIGGS’ bestsellers and is present in over 50 supermarkets. In Manila, its digital distribution partner is Phenomenon Group, Inc. Check out BIGGS Ready To Cook via www.biggs.ph.

Que Rica launches Bicol Express Longganisa

QUE Rica has just launched Bicol Express in longganisa form. Like many other Filipino dishes, the Bicol Express has several iterations. What remains constant however is its use of pork, balao/balaw, or local salted baby shrimps, coconut milk, chili, and aromatics. “We wanted to bank on the booming national and global interest towards local cuisine,” Rica Buenaflor of Que Rica says, “and we started with the Laing Longganisa.” Her team has invested in the development and packaging of pili nuts (also a hit) in novel flavors such as Truffle-Pecorino Cheese, and has come up with bottled ready-to-eat meals such as Sinantolan (minced cotton fruit in coconut milk), Vegan Laing (shrimp- and meat-free dried gabi leaves in coconut milk), and other meat products such as the Pineapple-Cured Chicken Tocino, selling them in events, bazaars, and in the digital space. “The Bicol Express Longganisa is one of the five new products we have developed recently while in quarantine,” said Ms. Buenaflor, “and instead of pork we used chicken to cater to customers who like healthier options.” The Bicol Express Longganisa comes in a pack of eight pieces or 350 gm. For more information, visit www.querica.ph.

Red Ribbon’s new Mango Sunrise Cake and new bread rolls

RED Ribbon’s newest offering is the Mango Sunrise Cake: a soft chiffon cake, layered and topped with mango cream and real mango chunks. It also has a design that resembles the sun dawning from the sky, with the mango chunks and syrup at the center of the cake, enclosed in white icing that mimics clouds on a sunny day. Red Ribbon has also come out with new bread rolls in chocolate, raisin, and classic flavors. The price of the Mango Sunrise cake starts at P490 for the Junior Size and P700 for the Regular Size, now available in all outlets nationwide. The Chocolate and Raisin Bread Rolls are priced at P65 per eight-piece pack, and the Classic Bread Rolls are priced at P70 per 16-piece pack, now available in all stores nationwide. They can also be ordered via Red Ribbon’s #87777 Hotline, by chatting on Facebook Messenger (m.me/redribbonbakeshop), or by ordering though the GrabFood and Foodpanda apps.

Panda Express goes north

FOLLOWING the successful launch of its first Panda Express store at SM Megamall in 2019, the Jollibee Group opened the second branch of the American-Chinese fast casual restaurant on Feb. 12 at SM North EDSA in Quezon City. Panda Express is best known for its Original Orange Chicken, wok-tossed crispy chicken in a sweet and tangy sauce; and Broccoli Beef, made of tender beef and fresh broccoli in ginger soy sauce. For those on a plant-based diet, Panda Express also has the Eggplant Tofu on its menu — lightly browned tofu, eggplant, and red bell peppers tossed in a sweet and spicy sauce. For customers who wish to have their favorite Panda Express dish in the comfort of their own homes, Panda Express will be available via Facebook Messenger and food delivery apps including: GrabFood and foodpanda. Delivery locations are within Metro Manila only.

Bo’s Coffee launches online on-demand brand

BO’S Coffee, the country’s biggest homegrown café chain, recently launched its digital brand to overcome mobility constraints brought about by the COVID-19 pandemic. Dubbed Bo’s Coffee Daily, the brand marries quality locally-grown coffee beans and 25 years of Bo’s Coffee craftsmanship with the convenience of internet technology. “When the quarantine restrictions took hold, we realized that coffee was such a customary part of consumers’ lives — whether it meant catching up with good friends or getting some work done. We couldn’t deliver the cafe experience which people missed, but we could still bring them the perfect brew through hassle-free online ordering,” said Bo’s Coffee Daily founder Steve Benitez in a statement. He noted that Bo’s Coffee Daily is the country’s first digital coffee brand, whose products are only available online and not at physical stores. Its menu, concoction, flavors, and colors cater to the persona of the younger crowd to make it distinct from the core Bo’s Coffee brand. Bo’s Coffee Daily’s flavors include Iced Cream Cheese, Mocha Dinosaur, Naughty Hazel Mocha, and Oreo Iced Creamy. New coffee lines and food are being developed based on periodic voice of consumer surveys and research. Through a user-friendly and secure chatbot Facebook Messenger, customers can recreate the cafe experience at home to simulate an actual interaction with a friendly barista. Customers can get their preferred blend — be it bold, light, or creamy — from 8 a.m. to 8 p.m. daily in stores in Makati, Mandaluyong, Manila, Taguig, and Quezon City in Metro Manila, and Cebu City and Mandaue City. The Cebu-based brand also plans to expand this year to over 50 key locations as it leverages technology to make premium locally-grown coffee available to more Filipinos. Order from Bo’s Coffee Daily via FB Messenger, FoodPanda or GrabFood, or access it on the FoodPanda and Grab mobile phone apps.

Satisfy milk tea cravings with X.O. Milk Tea Candy

X.O. MILK Tea Candy has a smooth blend of wintermelon tea and sweet cream that satisfies one’s craving for milk tea anytime, anywhere — for just one peso. X.O. has many other flavors to satisfy other cravings like Coffee, Chocolate, and Caramel. X.O. Candy is available in supermarkets, grocery stores, and sari-sari stores nationwide, as well as Universal Robina Corp.’s official store on Lazada and Shopee. For more information, visit http://www.facebook.com/xocandyph.

Philippines ranks 43rd out of 76 economies in terms of progress and commitments to shifting toward green economy

Philippines ranks 43<sup>rd</sup> out of 76 economies in terms of progress and commitment to shifting toward green economy

How PSEi member stocks performed — February 17, 2021

Here’s a quick glance at how PSEi stocks fared on Wednesday, February 17, 2021.

Stocks drop on Taal’s activity, inflation concerns

PHILIPPINE SHARES fell on Wednesday as concerns over the Taal volcano recent activity and the peso’s weakness caused the market to become cautious.

The Philippine Stock Exchange index (PSEi) dropped by 77.63 points or 1.1% to finish at 6,966.43 on Wednesday. The broader all shares index also declined by 35.31 points or 0.83% to close at 4,213.53.

“Taal poses an uncertainty of whether another eruption could affect surrounding local economies once more,” China Bank Securities Corp. Research Associate Jason T. Escartin said in an e-mail.

“Developments over the Taal volcano and the vaccine delivery will likely drive market movement over the coming days with volatility likely to persist,” he added.

Philippine authorities evacuated dozens of people from areas near Taal volcano, a tourist attraction 65 kilometers south of the capital, after it recorded increased seismic activities, Bloomberg reported.

About 60 residents of Taal island were moved to safer ground, the Philippine Coast Guard said on Twitter. Taal recorded 98 tremor episodes lasting five to 12 minutes in the past 24 hours, the Philippine Institute of Volcanology and Seismology said in a Feb. 16 report.

Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said the PSEi’s decline may also be due to the increase in US Treasury yields.

“This comes on the back of the rise in the 10-year US Treasury yield to 1.30%. The sudden depreciation of the Philippine peso also contributed to Wednesday’s foreign fund outflows,” Mr. Tantiangco said in a Viber message.

Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said in a text message that higher global oil prices and the weaker peso, which could push inflation higher, also caused some concern among investors.

“Market also partly weighed by recent signals on some delays in the arrival of COVID-19 vaccine supply in the first half of 2021,” he added.

All sectoral indices went down on Wednesday. Financials decreased by 22.96 points or 1.56% to end at 1,443.37; property fell 51.3 points or 1.43% to 3,533.62; holding firms dropped 60.84 points or 0.83% to 7,195.19; services declined by 9.43 points or 0.62% to 1,489.57; industrials went down 48.06 points or 0.52% to 9,051.32; and mining and oil gave up 47.93 points or 0.52% to end at 9,087.20.

Value turnover rose to P19.35 billion on Wednesday with 17.23 billion shares switching hands, higher than Tuesday’s P18.16 billion with 21.86 billion issues traded.

Decliners beat advancers, 145 to 82, while 45 names finished unchanged. Net foreign selling rose to P941.66 million yesterday from the P68.75 million in net outflows logged on Tuesday.

Analysts expect the PSEi to close at around 6,880 to 6,910 for the rest of the week. Investors are looking for signs of recovery, Philstocks Financial’s Mr. Tantiangco said.

“Lack of such is seen to lead to an extension of the market’s decline with a possible testing of the 6,900 support.” — Keren Concepcion G. Valmonte with Bloomberg

Peso sinks to weakest close in 3 months

THE PESO weakened further against the greenback on Wednesday on risk-off sentiment following the stock market’s decline and amid concerns over rising commodity prices.

The local unit finished trading at P48.38 per dollar on Wednesday, losing 13 centavos from Tuesday’s close of P48.25, data from the Bankers Association of the Philippines showed. This was its weakest finish since Nov. 4 when it closed at P48.40.

The peso opened the session at P48.30 versus the dollar. Its low for the day was at P48.47 while its intraday best was at P48.222 against the greenback. Dollars traded climbed to $1.387 billion from $1.039 billion from Tuesday.

The peso depreciated amid some weakness in the local stock market on Wednesday, Rizal Commercial Banking Corp. Chief Economist Michael L. Ricafort said.

The bellwether Philippine Stock Exchange Index inched down by 77.63 points or 1.1% to 6,966.43 on Wednesday.

Meanwhile, a trader attributed the local unit’s depreciation to concerns over rising inflation.

“The peso weakened significantly for the second day from elevated inflation concerns amid rising oil prices and local food supply constraints,” the trader said in an e-mail.

The central bank last week raised its inflation forecast for the year to 4% from 3.2% as it expects sustained pressure from rising food and oil prices in the coming months due to supply constraints and base effects.

Inflation has been climbing since October, spiking to a two-year high of 4.2% in January.

For Thursday, Mr. Ricafort gave a forecast range of P48.30 to P48.45 per dollar while the trader expects a slightly wider band of 48.25 and 48.45. — LWTN

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