Asean bourses set new road show
By Ronnel W. DomingoThe Asean Exchanges, a group that includes the Philippine Stock Exchange, is embarking on the next phase of a road show to promote cross-border trading in the region.
The Asean Exchanges, a group that includes the Philippine Stock Exchange, is embarking on the next phase of a road show to promote cross-border trading in the region.
The president of a stock brokerage house was fined P2.1 million by a Makati regional trial court after he was found guilty of defrauding his clients in violation of the Securities Regulation Code (SRC), the first conviction secured by the government almost 13 years after the law was enacted.
Shares of Philippine Business Bank rose by 15.39 percent on the thrift bank’s stock trading debut Tuesday, riding on a buoyant equities market and upbeat prospects for the bank.
The rate at which the market has been moving up since January is staggering. In only 28 days of trading from the start of the year, the benchmark Philippine Stock Exchange index or PSEi already scored a total net advance of 12 percent. This is about four times of the registered average monthly net rate of advance in 2012.
Trading resumed last Jan. 2, and like the qualities of the “Water Snake”—the year as designated in the Chinese calendar—the market started cautiously and then picked up, turning into an increasingly active trading day.
After staging a strong curtain-raiser for 2013, the main-share Philippine Stock Exchange index is seen to challenge the 6,000-mark even though it is expected to enter a consolidation phase.
Upscale property developer Alphaland Corp. has beefed up its public ownership to meet the 10-percent minimum requirement of the Philippine Stock Exchange for continued listing.
Local stocks may take a breather this week after climbing to new highs last week on the back of the stronger-than-expected economic growth figures and a banking merger-and-acquisition frenzy.
The Securities and Exchange Commission has charged at least 12 people with “anomalous” trading of shares of agricultural product distributor Calata Corp. and conspiring to “intentionally and unlawfully” raise share prices for their own profit.
Local stocks may trade with a bit of caution this week following a sharp pullback in Wall Street on Friday and as investors reassess recent gains that have brought the main index closer to record highs, dealers said.
Four stock brokers were penalized by Capital Markets Integrity Corp. (CMIC) in relation to the “suspicious” trading of shares of agricultural products distributor Calata Corp.
NEW YORK—Google’s shares plunged Thursday after a surprise drop in earnings in a prematurely released quarterly report, but while the Nasdaq sank the Dow avoided being pulled down as well. Google shares closed down 8.0 percent at $695.00, rebounding slightly after hitting a 10 percent floor earlier following the unintended release of its disappointing [...]
