USD/PhP: 43.71 (as of 12:00pm) PSEi: 4188.31 + 76.48
USD/JPY: 83.53 PFINC: 953.19 + 13.07
EUR/USD: 1.3761 BDO: 60.60 + 0.55
GBP/USD: 1.5808 BPI: 55.80 + 0.55
PDSTF3M: 4.1481 MBT: 73.60 + 2.35
Prices as of 12:00pm Source: Bloomberg, Reuters
PSEi rose 1.86 percent
PSEi hit a new all time high on Monday, closing at the peak of 4188.31 as index heavyweight PLDT rose by 54 pesos to 2,650. Other stocks that contributed to PSEi's advance were Ayala Land, SM, Metrobank and Aboitiz Power. Resistance is seen at 4,200 levels.
Philippines’ Spending Likely Fell in September on Election Ban
By Max Estayo
Oct. 4 (Bloomberg) -- Philippines’ state spending likely
fell in September compared to 106.5 billion pesos in August this
year as the government started its election-related ban on Sept.
10, Budget Secretary Butch Abad told reporters today in Manila.
Elections for village council will be on Oct. 25.
Spending in the third quarter was probably within target
“if not lower,” Abad said. The government will probably spend
an average of 100 billion pesos each month from September to
December, he said. Revenue had been “improving,” Abad said,
without elaborating. The government spent 128.21 billion pesos
in Sept. 2009, based on data compiled by Bloomberg.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
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