27 September 2011
USD/PhP: 43.87 + 0.29 PSEi: 3721.22 - 164.74
USD/JPY: 76.31 PFINC: 841.96 - 35.95
EUR/USD: 1.3531 BDO: 46.25 - 2.25
GBP/USD: 1.5572 BPI: 51.00 - 2.90
PDSTF3M: 3.9727 MBT: 60.10 - 1.95
Prices as of 4:00pm Source: Bloomberg, Reuters
PHILIPPINE MARKETS CLOSED DUE TO TYPHOON
‘Pedring’ slams Luzon; baby drowns
BRAVING ‘PEDRING’. Maintenance crew from the Department of Public Works and
Highways brave strong winds to clear Agham road in Quezon City of fallen
trees caused by Typhoon “Pedring”. Maximum winds of 140 kilometers per hour
with gustiness of up to 170 kilometers per hour have been recorded by the
Philippine Atmospheric, Geophysical and Astronomical Services
Administration (Pagasa). MATIKAS SANTOS/INQUIRER.net
MANILA, Philippines – Typhoon “Pedring” (international codename: Nesat)
slammed into the Philippines Tuesday, killing at least one person, a baby,
as it brought heavy rain and strong wind that blew away roofs, uprooted
small trees and toppled power lines.
The Philippines endures about 20 storms annually, many of them deadly, but
authorities warned that Pedring was one of the largest to hit the country
this year with its rain and wind path twice as big as average storms.
“This typhoon is very wide in diameter, about 650 kilometers [400 miles],
and covers most of [the main island of] Luzon,” Science Undersecretary
Graciano Yumul, who supervises the country’s weather bureau, told
reporters.
Pedring hit the northeastern side of Luzon before dawn, bringing maximum
sustained winds of up to 140 kilometers (87 miles) an hour and gusts
clocking in at 170 kilometers an hour.
The National Disaster Risk Reduction and Management Council said a baby
died when he fell into a swollen river in the eastern province of
Catanduanes.
Four other people were missing and there were fears the death toll would
rise throughout the day.
The agricultural provinces of Isabela and Aurora were the most heavily
affected initially, although storm alerts were also hoisted in over 40
other areas, including Metro Manila, the state weather bureau said.
The presidential palace announced the suspension of all classes and work
for government agencies in Manila and other affected areas.
Some roads around Manila, a sprawling megacity of more than 12 million
people, were impassable on Tuesday morning due to flooding and falling
debris, including branches that had been ripped off trees.
The Philippine Stock Exchange also suspended trading, while operations of
Manila’s main overhead railway system ground to a halt due to a power
outage, stranding passengers in the morning rush hour, officials said.
BDO UNIBANK, INC.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
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