By Doris C. Dumlao
Resorts World Manila operator Travellers International Hotel Group Inc. has revived plans to make its debut on the local stock market but it may reduce the initial public offering size to between $450 million and $480 million due to volatility of the financial market.
By Michelle V. Remo
Capital market players from the Philippines have joined calls for Southeast Asian nations to link their stock exchanges, saying it would better protect the region against external shocks.
Solid economic figures out of China and Europe helped lift the mood in financial markets Thursday in a week when investors have been largely fretting over when the U.S. Federal Reserve will start to reduce its monetary stimulus.
Most Philippine stocks fell sharply on Friday as a $150-million equity deal by the country’s most valuable company SM Investments dragged down the main index and sapped liquidity in the market.
Asian stock markets posted modest gains Monday, registering relief that a slowdown in China’s economic growth wasn’t as sharp as feared.