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With Holy Week break, ROS sees Game 3 crucial

By Michael Angelo S. Murillo
Senior Reporter

CURRENTLY holding a 2-0 series lead in their best-of-seven PBA Philippine Cup bracket, the Rain or Shine Elasto Painters are still not leaving anything to chance and has vowed to continue working and making things happen, especially since the Philippine Basketball Association is to take a break for the Holy Week.

Following their Game Three match today against the Magnolia Hotshots Pambansang Manok at 7 p.m. at the Smart Araneta Coliseum, the semifinal phase of the season-opening PBA tournament takes a four-day lull for Holy Week observance.

For Rain or Shine coach Caloy Garcia, the break makes the game at hand all the more crucial for them and Magnolia as it could well be a momentum shifter.

“If we can get Game Three with the break, it will be crucial. If Magnolia gets Game Three and the break it will be better for them as they will have more time to prepare and rest their players,” said Mr. Garcia after their 93-80 Game Two win on Sunday.

In Game Two, Rain or Shine once again had the number of Magnolia, controlling much of the game with contributions coming from all directions.

Ed Daquioag exploded for 19 points to lead the Elasto Painters in the victory that handed them the 2-0 series lead.

Big man Norbert Torres had a good start and finished with 17 while Rey Nambatac and Gabe Norwood scored 12 and 10 points, respectively, for Rain or Shine, which is looking to make it to its first finals appearance since 2016 Commissioner’s Cup where it emerged as champion.

Magnolia in Game Two was led by Ian Sangalang and Robbie Herndon, who each scored 13 points.

Mr. Garcia said key for them is trusting one another even as he underscored that it is still a long series and anything can happen.

“Important for us is trusting one another. If you would remember, in the eliminations we were not using much guys like Ed Daquioag and Rey Nambatac. I just told them to be ready anytime and they have been delivering,” the Rain or Shine coach said.

“It still long series though. Magnolia is capable of coming back and we have to be ready,” he added.

Meanwhile, in the other best-of-seven semifinal pairing, the defending champions San Miguel Beermen were trying to go for a 2-0 series lead over the top seeds Phoenix Pulse Fuel Masters last night.

The Beermen took the series-opener, 100-88, on April 13 after showing championship poise and drive, especially in the middle quarters where they made their move on their way to the victory.

Bucks obliterate short-handed Pistons

LOS ANGELES — Giannis Antetokounmpo racked up 24 points, 17 rebounds and four assists in only 23 minutes as the top-seeded Milwaukee Bucks overwhelmed the visiting Detroit Pistons 121-86 in their Eastern Conference playoff opener on Sunday.

George Hill had 16 points off the bench for the Bucks, who led by 27 at halftime. Eric Bledsoe scored 15 points, Brook Lopez and Khris Middleton had 14 apiece, and Sterling Brown added 11 along with a team-high seven assists.

Pistons center Andre Drummond was ejected with 4:07 remaining in the third quarter for shoving Antetokounmpo to the floor. The two-handed push occurred after Antetokounmpo grabbed an offensive rebound. Drummond finished with 12 points and 12 rebounds.

Luke Kennard’s 21 points off the bench topped Detroit, which played without All-Star forward Blake Griffin. He was sidelined by a sore left knee, which also kept him out of four of the last seven regular-season games. The Bucks were without guards Malcolm Brogdon (foot) and Tony Snell (ankle).

ROCKETS 122, JAZZ 90
James Harden and Clint Capela posted double-doubles, and Houston rolled to a victory in Game 1 of its first-round series with visiting Utah.

Harden paired 29 points with 10 assists and finished two rebounds shy of a triple-double to fuel the Rockets to a 1-0 series lead. Capela added 16 points and 12 rebounds while grappling with Jazz center Rudy Gobert (22 points, 12 rebounds).

Houston made headway by holding its own on the glass and defending with vigor, limiting Utah guard Donovan Mitchell to 19 points on 7-of-18 shooting and the Jazz to 39.0 percent shooting. Utah finished just 7-for-27 on 3-pointers and committed 19 turnovers.

TRAIL BLAZERS 104, THUNDER 99
Damian Lillard scored 30 points as Portland held off visiting Oklahoma City to win the opener of their first-round playoff series.

CJ McCollum added 24 points, and Enes Kanter contributed 20 points and 18 rebounds for the Trail Blazers, who led by as many as 19 points in the first half. The lead shrunk to as few as three points in the fourth quarter, but Oklahoma City never had possession with a chance to tie.

Paul George collected 26 points and 10 rebounds, and Russell Westbrook compiled 24 points, 10 rebounds and 10 assists for the Thunder, who made only 5 of 33 3-point attempts in the game.

CELTICS 84, PACERS 74
Boston held visiting Indiana without a field goal for the first 8 1/2 minutes of the second half, rallying from a halftime deficit for a victory in Game 1 of their first-round playoff series.

After failing to make even one-third of their shots in the first half while falling behind 45-38, the fourth-seeded Celtics became a defensive force in the third quarter. The Pacers, seeded fifth in the East, missed their first seven shots of the second half and mixed in three turnovers as their seven-point lead turned into a 47-45 deficit.

Kyrie Irving and Marcus Morris scored 20 points apiece for Boston, which won handily despite shooting just 36.4%. Cory Joseph led Indiana with 14 points, and Bojan Bogdanovic had 12, as the Pacers shot 33.3% for the game overall. — Reuters

Setting the right goals and going for them go a long way — Louganis

By Michael Angelo S. Murillo
Senior Reporter

EL NIDO, PALAWAN — One of the of the more accomplished athletes in the history of the Olympic Games, four-time diving gold medallist Greg Louganis surely knows how to achieve success, which he describes as setting the right goals for yourself and going for them.

Part of the recently held Red Bull Cliff Diving World Series first leg here as sports director, American Louganis, 59, shared that what he did in the three Olympics he was part of — 1976, and 1984 and 1988 — was a product of steadily improving himself and a commitment to training and hard work.

In ’76 in Montreal he won silver in the 10m platform and in the ’84 and ’88 Olympics in Los Angeles and Seoul, respectively, he won gold medals in both the 10m platform and 3m springboard.

“You know what, so many times we are caught up in making the Olympic team, making the Olympic team, making the Olympic team. I was mentoring as part of the preparation of the US dive team for the London Olympics and in Rio, and I asked the kids, ‘What is your ultimate diving goal? And they said, ‘Making the Olympic team.’ And after that? ‘Making the Olympic team.’ And I said, ‘Don’t you want to win and be at the podium? Why stop at just one thing,” said Mr. Louganis.

“Once you achieve one goal you should look forward to the next goal. But to reach the next goal you have to prepare. Sometimes you are successful in it, sometimes you are not. But if you don’t practice it you’re lost. Make it a habit and trust your training. It goes for all sports, across the board, and life in general,” he added.

HIGH ON CLIFF DIVING
While he admitted not having given cliff diving a go so far, Mr. Louganis said he is very high on it and sees it eventually being part of the Olympics.

“The growth and evolution of cliff diving has been amazing. I also did commentating for Acapulco cliff diving. More of the divers now have great mechanics. Pointing toes, legs together, it captures the beauty of the sport. I see this making the Olympics eventually. Hopefully in 2028 in Los Angeles,” he said.

Mr. Louganis went on to say that it helps the sport that brands like Red Bull are rallying behind it, promoting cliff diving and encouraging people to take it up be they athletes themselves or just spectators.

“Red Bull has been at the forefront for exploring ultimate sports, cliff diving is like one of the oldest ultimate sports. It’s wonderful and I hope others follow them and other potential sponsors come in to be part of this. It is a wonderful thing. Cliff diving is so visual. It’s beautiful to watch and see the divers execute these difficult dives,” Mr. Louganis said.

After the Philippines, the Red Bull Cliff Diving World Series moves to Dublin, Ireland, on May 12; Polignano a Mare, Italy (June 2); Sao Miguel, Azores, Portugal (June 22); Beirut, Lebanon (July 14); Mostar, Bosnia and Herzegovina (Aug. 24); and Bilbao, Spain (Sept. 14).

Three-way tie for first place in the inaugural Open Kitchen rapid chess tournament

WOMAN FIDE MASTER (WFM) Allaney Jia Doroy of National University chess team defeated former solo leader 8-times Illinois, USA champion International Master Angelo Young in the last round to create a three-way tie for first in the inaugural Open Kitchen rapid chess tournament held at the Open Kitchen 34-36 P. Tuazon Boulevard, Brgy. Kaunlaran, Cubao, Quezon City on Saturday.

Ms. Doroy collected four points in five outings, the same output of Mr. Young and US chess master Jose “Jojo” Aquino Jr.

Mr. Aquino winner over International Master (IM) Ronald Bancod in the opening round needed to beat National Master (NM) Romeo Alcodia in the final canto to share the top honors with Ms. Doroy and Mr. Young.

“I would like to thank the management of Open Kitchen for inviting me to participate in this one-day rapid event and also to my parents, coach (Jose Aquino Jr.) Jojo and NU Team Manager Samson Go who always beside me in my professional chess career.” said the 17-years-old Ms. Doroy.

The triumvirate receive their cash prizes and trophies for their efforts during the awarding ceremonies led by China Aurelio and John Gomez of Open Kitchen, National Chess Federation of the Philippines directors lawyer Cliburn Anthony Orbe and Gaticales and US based engineer Florentino Inumerable Jr. in the one-day chess affair organized by tournament director Jeff Dimalanta in close cooperation with Barangay Kaunlaran chairman Christopher “Dong” Cheng, International Billiards/Snooker Champion Marlon Manalo of Patrol Party list and councilor Irene Belmonte. — Marlon Bernardino

Nakamura is 2019 US champion

63rd USA Chess Championship
Saint Louis Chess Club, USA
March 18-April 2, 2019

Final Standings (GMs all)

1. Hikaru Nakamura 2746, 8.0/11

2-3. Leinier Dominguez Perez 2739, Fabiano Caruana 2828, 7.5/11

4-5. Wesley So 2762, Samuel Sevian 2642, 6.0/11

6. Samuel Shankland 2731, 5.5/11

7-8. Awonder Liang 2590, Jeffery Xiong 2663, 5.0/11

9-11. Aleksandr Lenderman 2637, Varuzhan Akobian 2625, Timur Gareyev 2557, 4.0/11

12. Ray Robson 2667, 3.5/11

Average Rating: 2682 Category 18

Time Control: 90 minutes for the first 40 moves, then 30 minutes play-to-finish with 30 seconds added to your clock after every move starting move 1

The Big 3 of US chess Fabiano Caruana, Wesley So and Hikaru Nakamura were fighting for the lead for most of the tournament and then towards the end the “rookie,” Cuban-turned-American GM Leinier Dominguez, made a late surge that almost took him to first place. Just before the last round Nakamura, Caruana and Dominguez were tied for the top spot but at the end it was only Nakamura who managed to win (vs Xiong) on demand and claim his fifth national title.

Hikaru Nakamura (born Dec. 9, 1987) needs no introduction to our BW readers. An internet blitz sensation during his young days he has grown up to dominate US chess. At his peak in 2015 he was rated 2816, which made him No. 2 in the world. At the same time he was world No. 1 in the rapid AND blitz rating lists.

He got the nickname “H-Bomb” in the online servers because of his explosive style of playing, but in recent years he has considerably toned down his style. Give him an opening though and he will most definitely come out with guns blazing and bombs blasting.

Robson, Ray (2667) — Nakamura, Hikaru (2746) [B77]
USA-ch 2019 Saint Louis (9.1), 29.03.2019

1.e4 c5 2.Nf3 d6 3.d4 cxd4 4.Nxd4 Nf6 5.Nc3 g6

Nakamura had been using the Sicilian Dragon on and off for a number of years, but ever since his successful adoption of it in the 2017 London Chess Classic this has become a major weapon. In fact, he had only lost once with it in his career, to Grischuk in the 2012 Moscow Tal Memorial.

6.Be3 Bg7 7.f3 0 — 0 8.Qd2 Nc6 9.Bc4

White can play 9.0 — 0 — 0 or 9.Bc4 first. An important detail to remember is that if White castles queenside Black’s correct reply is 9…d5. Why? Well, after 9.0-0-0 if Black continues “normally” with 9…Nxd4 10.Bxd4 Be6 then White has 11.Kb1! preventing 11…Qa5 because of 12.Nd5 Qxd2 13.Nxe7+ and White has won an important pawn.

I had a very good teacher here. Back in 2000 the sensation in women’s chess was UST’s Sherry Pearl dela Cruz, UAAP’s Most Valuable Player then. I invited her to the chess center in Timog Avenue (yes, we used to have one, complete with tennis court) for some training and suddenly GM Eugene Torre walked in. I invited Asia’s first GM to give her a few pointers and, the Sicilian Dragon being Sherry Pearl’s favorite weapon, this was one of the tips he imparted on that very fruitful afternoon.

9…Bd7 10.0 — 0 — 0 Rb8

This is the so-called “Chinese Dragon,” which supposedly is good for White. Robson goes directly for the critical line.

11.Bb3 Na5 12.Bh6 Bxh6 13.Qxh6 b5 14.Nd5

There are other schemes involving the advance of the kingside pawns, but 14.Nd5 is perfectly logical — without Black’s fianchettoed bishop the f6 — knight is the major defensive weapon, so White sets about exchanging it off immediately.

14…Nxb3+ 15.Nxb3?!

The soon-to-be-defunct website “Chess Openings 24/7” opines that 15.axb3! is best here. The knight on d4 is well positioned. Now, after

15…e5?! 16.Nf5! gives White a strong attack: 16…Bxf5 (Of course not 16…gxf5 17.Nxf6+) 17.exf5 Nxd5 18.Rxd5 Rb6 19.g4 Qf6 20.Rhd1 Rc8 21.Kb1 b4 22.h4 Rcc6 23.h5 Black’s position is dangerous. Houdini 2.0c Pro — Houdini 1.5a, Internet (blitz) 2012;

Therefore, 15…Nxd5 is almost forced. 16.exd5 e5 17.dxe6 fxe6 18.h4 Qf6 19.Ne2 Rb6 20.Nc3 with the idea of Ne4. Serbia’s GM Aleksandar Kovacevic from “Chess Openings 24/7” comments that “If you are an over-the-board player like yours truly, take my advice and don’t try this at all as Black — it’s quite depressing, really, and White has a very simple task most of the time.”

15…e5

See? Now the white knight cannot get to f5.

16.Nxf6+ Qxf6 17.h4 Rb6 18.h5 Qe7 19.hxg6 fxg6

White’s attack has been contained. Says Black “my turn.”

20.Qe3 Be6 21.Rhf1 Rc6 22.f4 Qc7 23.Rd2 a5 24.Kb1 a4 25.Nc1 b4 26.Rdf2 exf4 27.Rxf4 Rc8 <D>

POSITION AFTER 27…RC8

28.Rf6?

[28.Qf2 Qe7 in the post-game conference Nakamura said that he would follow by exchanging his two rooks for the white queen on c2]

28…Rxc2! 29.Rxe6 Qc4 30.Ref6 a3 31.bxa3

Looks suicidal, but there doesn’t seem to be anything else:

31.R6f2 Rxb2+ 32.Rxb2 (32.Ka1 Rxf2 33.Rd1 (33.Qxf2 Qxc1+ 34.Rxc1 Rxc1#) 33…Rb2 threatening …Rb1+) 32…axb2 33.Kxb2 Qxf1;

31.b3 Rb2+ 32.Ka1 Rb1+! 33.Kxb1 Qc2+ 34.Ka1 Qb2#.

31…bxa3

Once again the threat is 32…Rb2+ 33.Ka1 Rb1+ 34.Kxb1 Qc2+ 35.Ka1 Qb2 mate.

32.Qxa3

[32.R6f2 Rc3 33.Qf4 Rxc1+ 34.Qxc1 Rb8+ 35.Ka1 Qd4+ does not work either]

32…Rxc1+ 33.Rxc1 Qxe4+ 34.Kb2 Qe5+ 35.Rc3 Rb8+ 36.Kc2 Qxf6 37.Rf3 Qd4 38.Rb3 Qe4+ 39.Kc1 Qe1+ 40.Kc2 Qe2+ 41.Kb1 Qd1+ 42.Qc1 Rxb3+ 43.axb3 Qxb3+

[43…Qxc1+ also wins 44.Kxc1 h5]

44.Ka1 Qa4+ 45.Kb2 Qb5+ 46.Ka1 Qc5 47.Qd2 h5 48.Kb1 Kg7 49.Qb2+ Qe5 50.Qb7+ Kh6 51.Kc1 d5 52.Kd1 Qe4 53.Qb2 Kg5 54.Qd2+ Kg4 55.Qh6 g5 0 — 1

Fabiano Caruana was born July 30, 1992 grew up in Brooklyn, transferred to Italy in 2005 and returned to the USA in 2015. He had his monster year in 2014 when he won his first seven games and finished the 6-player round robin tournament three points ahead of the world champion Magnus Carlsen. Caruana scored 8.5/10 with seven wins, three draws and an unheard-of performance rating of 3103. By the end of that year his ELO rating had climbed to 2844, making him the third highest-rated player in chess history (in case you are wondering who the top 5 highest rated people are in history, they are: 1. Magnus Carlsen 2882, 2. Garry Kasparov 2851, 3. Fabiano Caruana 2844, 4. Levon Aronian 2830, 5. Wesley So 2822).

Caruana last November 2018 faced Magnus Carlsen in the World Chess Championship where all 12 games were drawn. Magnus then won the rapid tie-break games 3-0.

So, had GM Caruana achieved all he ever wanted in chess and will fade into the sunset? Not a chance. Vice-Champion of the world is not enough. He has to become Champion. Period.

Caruana, Fabiano (2828) — Xiong, Jeffery (2663) [C65]
USA-ch 2019 Saint Louis (6.2), 25.03.2019

1.e4 e5 2.Nf3 Nc6 3.Bb5 Nf6 4.d3 Bc5 5.Bxc6 dxc6 6.0 — 0 Qe7 7.Nbd2 Bg4 8.h3 Bh5 9.a3 a5 10.Nc4 Nd7 11.g4 Bg6 12.b4!?

This was played by Anand against Nakamura here in saint Louis two years ago.

12…Bb6

Black can take the pawn, but he winds up with nothing: 12…axb4 13.Bg5 f6 14.axb4 Rxa1 15.Qxa1 Bd6 (15…Bxb4? does not win a pawn. After 16.Qa8+ Qd8 17.Qxb7 Be7 18.Be3 c5 19.Nh4 White has restored material parity and his pieces will start swarming all over Black’s position.) 16.Qa8+ Qd8 17.Qxd8+ Kxd8 Everything equalizes out. Anand, V (2783)-Nakamura, H (2792) Saint Louis 2017 1.2 39,

13.bxa5 Bxa5 14.Bb2 f6 15.Nxa5 Rxa5 16.Nh4 0 — 0 17.Nf5 Qe6?!

The bishop on g6 has limited score and should have been exchanged for White’s f5 — knight.

18.Kh2 c5 19.h4 c4 20.h5 Bf7 21.Rg1 cxd3 22.cxd3 Rb5 23.Bc1 Kh8 24.Be3 Rb3 25.Rg3 c5 26.Qe2 g5

The great Vassily Ivanchuk once described a move as “too ugly to be good.” We can say the same for the text. I would suggest 26…b5 followed by …b5 — b4 to try to get some action going on the queenside.

27.hxg6 Bxg6 28.a4 Qa6 29.Bh6 Rg8 30.Rag1 Qxa4 31.Ne7

After the game Caruana pointed to this position as when he thought that he was close to winning.

31…Qd4

[31…Re8 32.Nxg6+ hxg6 33.g5 f5 34.exf5 gxf5 35.Qh5 Black is about to get mated]

32.Qd1! c4 33.Nxg8 Kxg8 34.dxc4 Rxg3 35.Qxd4 exd4 36.Kxg3 Bxe4 37.Rd1 d3 38.f3 Bg6 39.Ra1 Kf7 40.Ra7 Nc5 41.Be3 Ke8

If Black gives up the b7 — pawn then 41…Nd7 42.Rxb7 Ke8 43.c5 Nxc5 44.Bxc5 d2 45.Rb8+ Kd7 46.Bb6! Kc6 47.Rd8 the rest is easy.

42.Bxc5

Now look at the finish.

42…d2

White has to give up his rook to stop the pawn? No.

43.Ra8+ Kd7 44.Bb6! Kc6 45.Ba5! 1 — 0

[45.Ba5 d1Q 46.Rc8+ Black has no chice but to go to the d-file. 46…Kd7 47.Rd8+ winning the queen]

 

Bobby Ang is a founding member of the National Chess Federation of the Philippines (NCFP) and its first Executive Director. A Certified Public Accountant (CPA), he taught accounting in the University of Santo Tomas (UST) for 25 years and is currently Chief Audit Executive of the Equicom Group of Companies.

bobby@cpamd.net

Redemption, drama

The final round of the Masters was shaping up to be like no other long before the first sets of hopefuls teed off at 7:30 yesterday morning. The sun had been out for a mere half hour, and yet Augusta National was packed with fans hoping to catch breathtaking action courtesy of first-ever threesomes dispatched on both the first and 10th holes. Organizers changed the schedule in a race against time, what with thunderstorms slated to hit the course in the afternoon — and players had to adjust accordingly, some more than others. Tiger Woods, for instance, had to wake up much earlier than usual to account for the longer prepping his brittle body required.

Such had been the case with the four-time Masters champion since he returned to action full time in 2018 following a fourth surgery on his back this time two years ago. Recovery from spinal fusion was long and hard, and, for a while, Woods didn’t know if he could play at all. In fact, golf was farthest from his mind. As when news of his extramarital affairs broke in 2009, he needed to set his life in order first. His children were growing up, and he wanted to be there for them first and foremost. And so he endured with forbearance a messy divorce, an arrest for driving while overmedicated, and the weight of great expectations accompanying his return to the sport.

If there’s one thing Woods learned through all the trials, it’s the value of restraint. And in competition, it showed in his capacity to quickly move on from missteps. Perhaps he was thankful to simply be in the mix given his brushes with injury; in complete cognizance of his frailties, he became more forgiving of himself in the aftermath. Certainly, it showed in how he made his way to an extremely unlikely fifth victory at Augusta National over the weekend. He was far from flawless through four rounds of alternately cautious and anticipatory golf, and yet he emerged triumphant because he knew the extent of his abilities and never once thought to push beyond his limits regardless of circumstance.

Considering where Woods stood and the fickle nature of the sport that seemed to have already gotten the better of him too many times for comfort, his latest major championship win may well be his greatest. In a career full of highlight reels, the sight of him hugging son Charlie off the 18th green figures to be the best of all. He has come full circle, having done the same to father Earl in 1997, when he took the world by storm with an utterly dominant showing. This time around, he relied on precision and not power, on planning and not pressing, on patience and not potency.

What’s next for Woods? In light of his physical state, maybe nothing. In light of his mental preparedness, maybe everything. He’s an old 43 with middling length off the tee and troubling streakiness on the putting surface, but he brings with him unparalleled experience that propels his unmatched shotmaking on approach and around the greens. And, if nothing else, his strengths should help him at the PGA Championship next month; as his podium finish at the 2002 United States Open proved, Bethpage Black suits him. After that, who knows?

Meanwhile, Woods is rightly savoring his 15th major title and not quite ready to consider what’s next just yet. As he noted, “there were so many guys who had a chance to win. The leaderboard was absolutely packed, and everyone was playing well. You couldn’t have had more drama than we all had out there, and now I know why I’m balding. This stuff is hard.” Indeed. Redemption has already come. Anything else from here on is a bonus.

 

Anthony L. Cuaycong has been writing Courtside since BusinessWorld introduced a Sports section in 1994.

Peso hits one-year high vs dollar

THE PESO strengthened further against the dollar to hit a one-year high on Monday following upbeat developments in the United States-China trade talks and amid anticipated remittance flows.

The local unit closed yesterday’s session at P51.64 versus the greenback, 12.5 centavos stronger than Friday’s P51.765 finish.

This was the peso’s best showing in more than a year or since it closed at P51.48 per dollar on Feb. 9, 2018.

The peso opened the session at P51.76 versus the dollar, which was already its worst showing for the day. Meanwhile, its intraday high stood at P51.63 against the US currency.

Trading volume however thinned to $581 million from the $998.4 million that changed hands the previous session.

A foreign exchange trader said the local unit strengthened versus the dollar, continuing the upbeat trading seen last Friday where the peso broke key support levels.

“So far, the volume was very thin due to the shortened work week, but we see still it moving lower given the anticipation of remittance flows,” the trader said in a phone interview.

Meanwhile, another trader said the peso strengthened amid “global risk-on sentiment” following positive developments in the US-China trade negotiations.

Over the weekend, US Treasury Secretary Steven Mnuchin told Washington reporters that the US and China are “hopefully getting very close to the final round of these issues.”

He added that Washington is open to face “repercussions” if it does not fulfill its commitments. “I would expect that the enforcement mechanism works in both directions, that we expect to honor our commitments, and if we don’t, there should be certain repercussions, and the same way in the other direction.”

“The risk-on sentiment helped the peso as well,” the first trader said. “But the thin volume just shows that the market is cautious ahead of the holidays.”

For today, the first trader expects the peso to move between P51.55 and P51.79 versus the dollar, while the other trader gave a P51.50-P51.80 range.

“The local currency might appreciate further on continued foreign remittance inflows this week and ahead of likely mixed US industrial production report,” the second trader noted.

Most Asian currencies also stepped up against the dollar on Monday as investors took comfort in further signs of stabilization in the Chinese economy and an upbeat start to US earnings. — K.A.N. Vidal with Reuters

Stocks weaken further as investors turn cautious

LOCAL SHARES saw extended weakness, ending below the 7,800 mark on Monday as investors took money off the table ahead of the shortened trading week.

The bellwether Philippine Stock Exchange index (PSEi) went down 1.17% or 92.84 points to close at 7,787.98 on Monday. The broader all-shares index also dropped by 0.94% or 46 points to close at 4,817.15.

“Investors continued to take money off the table given the short trading week. There’s some support at 7,750 and combined with sustained foreign buying,…today’s dip could be treated as a buying opportunity. First quarter results and a potential BSP (Bangko Sentral ng Pilipinas) rate cut are the catalysts to watch for pushing the market upward,” PNB Securities, Inc. President Manuel Antonio G. Lisbona said in a text message on Monday.

Net foreign buying grew to P305.94 million on Monday from the previous session’s P265.28-million net inflows.

BSP Governor Benjamin E. Diokno said Friday that a cut in interest rates will “be on agenda” at its third policy review for this year, which happens next month.

Policy rates are now at 4.35% for overnight deposit, a decade-high 4.75% for overnight reverse repurchase and 5.25% for overnight lending after a total of 175-basis-point increase last year.

The central bank chief also hinted on a reduction in big banks’ reserve requirement ratio, which is currently at 18%.

“The PSEi ended negative after the last-minute sell-off in 21 out of the 30 blue-chip stocks dragged the index lower by 92 points. There are a number of economic data that will be released by the US, Japan, and China this week so I think investors are liquidating shares ahead of the long weekend to book some profits and to avoid market shock in case investors react negatively to the data once our bourse opens on Monday,” said Jervin S. de Celis, an equity trader from Timson Securities, Inc.

Due for release this week are data on China’s purchasing managers’ index for March, Japan’s industrial production for February, and US retail sales and jobless claims.

“If we see improvements in these data, that may lift market sentiment in our neighboring markets and might push our index higher by next week. If the reports disappoint, then that may renew concerns on global growth and can dampen sentiments in our market by next week,” Mr. De Celis explained.

All sectoral indices ended in the red on Monday. Holding firms booked the highest decline at 2.17% or 166.33 points to 7,497.96. This was followed by services which dropped 1.15% or 18.50 points to 1,586.10; industrials went down by 1.07% or 125.75 points to 11,631.68; mining and oil shed 0.98% or 75.87 points to 7,593.01; financials gave up 0.34% or 6.04 points to 1,727.20; and property went down by 0.05% or 2.05 points to 4,132.32.

Value turnover went up to P7.87 billion from Friday’s P7.03 billion as 1.18 billion issues changed hands.

Losers outnumbered advancers, 107 to 87, while 47 issues were unchanged. — V.M.P. Galang

Duterte to take up Pag-asa situation in Beijing

By Charmaine A. Tadalan, Reporter

PRESIDENT Rodrigo R. Duterte will ask China to stop deploying vessels near Pag-asa island in the Kalayaan Group of Islands when he visits Beijing next week.

“We have to forge a mutually satisfactory solution to the conflict in that area, based on the directives of each constitution, as well as the aspirations of these two countries,” Presidential Spokesperson Salvador S. Panelo said in a briefing, Monday.

The President will travel to China for the Belt and Road Forum in Beijing on April 26 and 27. Mr. Panelo said bilateral talks between the Philippines and China are expected to take up the presence of Chinese vessels that has threatened Filipino fishermen at Pag-asa. Foreign Affairs Secretary Teodoro L. Locsin, Jr. earlier said he had filed notes verbales against China in that regard.

When asked if the government will reiterate its call to move the vessels away, Mr. Panelo said, “Yes.”

“I think that was the statement, the core of the diplomatic protest of the Secretary of Foreign Affairs,” he added.

Mr. Panelo said the government is waiting for the official response to the notes verbales, saying “We expect them to respond, whatever response they want, and then act accordingly.”

“We could not immediately make any statement on any report vis-a-vis the presence of vessels or any act of harassment until we validate them. It is only once we validate them that we make our diplomatic protest. And if they insist then we make strong statements against it,” he said.

Mr. Panelo also reaffirmed the government’s stand on the 2016 Hague ruling in favor of the Philippines’ claim on the West Philippines Sea, contrary to former foreign affairs secretary Albert F. del Rosario’s claim that the Duterte administration has “shelved” it.

“Effectively his previous statement, earlier, when he said ‘do not touch our property and if you do any harm to our soldiers, we will respond in kind.’ That effectively has already made a very strong assertion of sovereignty and statement relative to the arbitral ruling,” Mr. Panelo said.

Mr. Locsin, for his part, said in a social media post Monday, “This is actually not the right time to bring up disagreements over the South China/West Philippine Sea with both sides hot under the collar while a pissing contest is in full flower. But ‘swarming in unison’ is definitely not traditional fishing under any definition.”

Rappler motion on cyber-libel denied

MANILA regional trial court (RTC) Branch 46 has denied for lack of merit the appeal of Rappler, Inc. and its CEO and Executive Editor Maria A. Ressa and former researcher Reynaldo Santos, Jr. to dismiss their cyber-libel case, with the arraignment of the case thus proceeding on April 16.

In a nine-page order denying the Motion to Quash, Judge Rainelda H. Estacio-Montesa of Branch 46 stated that the elements of libel which include allegations of discreditable act, publication of the charge, identity of the person defamed, and existence of malice were present in the information filed against the court.

“Considering that all the essential elements of the offense as defined under RA (Republic Act) 10175 (Cybercrime Prevention Act of 2012) were sufficiently established in the Information, the allegations contained therein, indeed, constitute an offense,” the order read.

The case stemmed from the complaint filed by businessman Wilfredo D. Keng in October 2017 over an article Rappler published on May 29, 2012, which he said was updated in February 2014, titled “CJ Using SUVs of Controversial Businessman,” which reported that Mr. Keng, the alleged owner of the vehicle used by former Chief Justice Renato C. Corona, is involved in various illegal activities.

The Department of Justice (DoJ) indicted them of cyber-libel in January 2019 while the information was filed to the court the next month.

The court also denied the argument of Rappler that the prosecution retroactively applied the said law while a temporary restraining order (TRO) was issued by the Supreme Court on its implementation from Oct. 9, 2012 until April 22, 2014.

The court said the TRO “merely suspends the implementation and enforcement of RA 10175,” so crimes committed during the period cannot be prosecuted, but it did not suspend the effectivity of the law.

“So while crimes committed during the said period cannot be prosecuted during the effectivity of the TRO, they may be prosecuted after the lifting of the same just like what is done in this case,” the court said.

The court also upheld the DoJ’s claim that the prescriptive period for the filing of the cyber-libel case is 12 years, as the sentence for cyber-libel is until eight years of imprisonment, contrary to the argument of Rappler that the prescriptive period for the case should be one year, similar to ordinary libel.

It also said that Rappler, Inc. has corporate liability in the case as it published the article on Mr. Keng.

“The re-publishing of the article is the illegal act imputed to Rappler Inc., as the publishing platform of the article, which accusation as supported by the prosecutor’s resolution and attached documents the court finds probable cause to proceed with the trial of the case,” it said. — Vann Marlo M. Villegas

Sison warns against Duterte’s peace plan

COMMUNIST Party of the Philippines founder Jose Maria C. Sison has warned consultants of the National Democratic Front of the Philippines (NDFP) as well as “the Filipino people” about President Rodrigo R. Duterte’s plan to form a new panel to negotiate with communist rebels.

“The National Democratic Front of the Philippines (NDFP) and the Filipino people should be alert to Duterte’s militarist purposes in announcing that he wishes to reopen the peace talks with the use of a militarized negotiating panel under the militarized office of the presidential adviser, General Galvez,” said Mr. Sison in a statement on Sunday evening, April 14.

Mr. Duterte said last month he is ending the peace negotiations and told communist rebels to just talk to the next administration.

This time, the President said he wants a peace panel to be composed of at least two civilians and three military officials.

“I will look for a new one. A new way, a new person to talk. Maybe two, or one from military and then maybe around … Five. Two civilians, three military,” Mr. Duterte said at a campaign rally in Bukidnon last Saturday.

In response, Mr. Sison said: “The NDFP does not want to be baited into accepting a war panel of the Duterte regime whose purpose is merely to seek the impossible, such as the surrender of the revolutionary forces, especially the New People’s Army.”

The exiled communist leader said the President should answer first the question, “Why did he terminate the peace negotiations and annul all agreements painstakingly made since the The Hague Joint Declaration of 1992?”

Mr. Sison added that Mr. Duterte should also explain why he terminated the government’s section of the Joint Monitoring Committee formed under the Comprehensive Agreement on Respect for Humans Rights and International Humanitarian Law.

“The NDFP must remind Duterte that he cannot dictate the terms of whatever kind of negotiations he seeks from the revolutionary movement of the people,” said Mr. Sison.

Mr. Duterte is “merely play-acting in the name of peace while carrying out an all-out war and scheming to rig the May 2019 elections,” the exiled rebel leader added.

For his part, Armed Forces of the Philippines (AFP) public affairs chief Col. Noel J. Detoyato said in a message to reporters on Monday, “We are prepared to offer not only the hand of peace but the whole arm if need be. But first, Mr. Sison has to show sanity and coherence. He must also accept the fact that there are many roads towards peace but the road he has taken is not one of them…..The problem is here and not in the Netherlands.” — Vince Angelo C. Ferreras

Fuel prices up this week following supply cuts, Libyan conflict

OIL COMPANIES are raising the prices of petroleum products this week to reflect the movements in the international fuel market. Per liter prices of gasoline, diesel and kerosene will rise by P1.05, P0.75, and P0.60, respectively, starting at 6:00 a.m. on Tuesday, April 16. The Department of Energy (DoE) said the adjustment in this week’s prices come after Friday’s “involuntary supply cuts from Venezuela and Iran plus conflict in Libya supported perceptions of a tightening crude market, while upbeat Chinese economic data eased concerns about waning crude demand.” On the demand side, the DoE said Chinese data showed exports rebounded last month, driving US and euro zone bond yields to three-week highs and helping offset weaker imports and reports of another cut in German growth forecasts. But it said demand for oil “has been breaking records despite talk of a slowing economy,” citing Phil Flynn, senior market analyst at Price Futures Group. “Chinese export data overnight seems to confirm that China’s economy might be stabilizing after weak data around the Chinese New Year holiday.” — Victor V. Saulon

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