The Philippine Stock Exchange index (PSEi) dipped on last minute profit-taking on Tuesday, Dec. 16, as investors waited for fresh economic data from the United States (US). The main index shed 2.34 points, or 0.04 percent, to close at 6,055.68. The services and mining sectors fell, while the...
The Supreme Court has affirmed with finality the Securities and Exchange Commission’s (SEC) authority to accredit external auditors, ending a long-standing legal challenge that threatened the regulator’s oversight of the capital markets. In a resolution dated Oct. 14, the court denied a motion...
The Maharlika Investment Corp. (MIC) is planning to acquire up to 11.2 percent of Asian Terminals Inc. (ATI), the port operator controlled by Eusebio Tanco, for about ₱8 billion, a move intended to lead to the delisting of the company from the Philippine Stock Exchange (PSE). In a disclosure to...
The local stock market started the week on firmer footing, with investor sentiment continuing to be supported by signs that the central bank may cut rates further. The main index added 21.3 points, or 0.35 percent, to close at 6,058.02 on Monday, Dec. 15. The mining and property sectors led the...
The Philippine Competition Commission (PCC) and the Securities and Exchange Commission (SEC) have signed a data-sharing agreement (DSA) to enhance interagency cooperation in promoting transparency, integrity, and fair competition in the corporate sector. The agreement provides PCC with streamlined...
Local stock market investors will test whether the main index can stay above the 6,000 level, buoyed by positive sentiment from the United States Federal Reserve (US Fed) and Bangko Sentral ng Pilipinas (BSP) rate cuts, but will also take cues from upcoming US economic data, including inflation and...
The Securities and Exchange Commission (SEC) is warning the public that SE Sports or Seek Explores Sports Association Inc. is illegally soliciting investments. The corporate regulator issued an advisory after gathering reports that the entity’s individuals or members are enticing the public,...
The Securities and Exchange Commission (SEC) has ordered Trading Point Holdings Ltd., which operates under the name XM, XM Global Ltd., and XM Philippines, to cease its unauthorized solicitation of investments from the public immediately. In a cease-and-desist order (CDO), the SEC directed the XM...
I’m pretty sure most of us market watchers have heard and read about the diverse views on the Securities and Exchange Commission’s (SEC) proposal to limit interest rates of lending and financing firms. In this risk-averse environment, with the financial market trying to stay relatively afloat...
The Philippine Stock Exchange Index (PSEi) recovered from the previous day’s decline, adding 30.06 points, or 0.50 percent, to close at 5,990.00 on Thursday, Dec. 11. The advance followed expected rate cuts from both the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP). Banks led the...
The Securities and Exchange Commission (SEC) has finalized a policy that tightens the cap on interest rates and related fees charged by financing and lending companies for specific loans, a month after the draft was released for public comment. The Commission issued SEC Memorandum Circular No. 14,...
The Philippine Stock Exchange Index (PSEi) slipped 0.28 percent following a confluence of weak economic reports and a cut to the country 's growth forecast. The main index shed 16.70 points to close at 5,959.94 on Wednesday, Dec. 10. Sectoral indices were evenly mixed for the session. A total...
