Author: Business News Asia

Filipinos should take advantage of the country’s rising economy by investing in the stock market instead of just letting their money sit at home, a registered financial planner said. Financial Planner Marvin Germo, who authored books on stock market investing, said the public should start considering investing in the stock market as the Philippine Stock Exchange continues to rally and most of those who gained from it are foreign investors. However, Germo said anyone who wants to invest in the stock market should also study the market before coming in or let fund managers handle their investments. “Investing in the…

PHILIPPINES – Philippine Stock Exchange (PSE)-listed Prime Orion Philippines Inc (PSE:POPI) has released on Monday its audited financial statements for the fiscal year ended 30 June 2015. In a disclosure, Prime Orion Philippines Inc (PSE:POPI) announced that it posted a consolidated net loss of Php262.2 million for the fiscal year ended 30 June. “This included an impairment loss of Php236 million to account for the decline in value of 1.388 billion shares, of Cyber Bay Corporation. The Group recognized the loss pending definitive updates on Cyber Bay’s projects,” the company said in a statement to the Philippine Stock Exchange before…

PHILIPPINES – Shares of Ayala Land Inc (PSE:ALI) closed the week higher in the Philippine Stock Exchange (PSE), trading at Php37.60 apiece on news that it was considering raising funds through Sukuk financing for its investments in Malaysia. Ayala Land Inc (PSE:ALI)’s stock was up 3.44 percent after the close on Friday, adding Php1.25 to its value. A total of 15.51 million shares exchanged hands on the trading floor. On Wednesday, Ayala Land Inc told reporters that it is considering raising funds through Sukuk financial for its planned Malaysian investments. “We are talking with a couple of banks to explore…

INDIA – Holding company Tata Steel Limited (NSE:TATASTEEL)’s stock gained 5.07 percent on Friday’s trading at the National Stock Exchange of India (NSE) to close at 253.00 a share, its highest price in 30 trading days. Shares of Tata Steel Limited (NSE:TATASTEEL) was up by 12.20 on Friday’s close after the company reported that its hot metal production was up 3 percent in the second quarter of this year. In a disclosure, Tata Steel Limited said hot metal production reached 2.66 million tonnes in the quarter of fiscal 2016, an increase of 3 percent from the previous year. The production was…

PHILIPPINES – Alliance Global Group, Inc. (PSE:AGI)’s stock gained 14.09 percent this week at the Philippine Stock Exchange after leading the blue chips on Friday with a 7.70 gain. Alliance Global Group, Inc. (PSE:AGI), which is engaged in property development; food and beverage manufacture and distribution; quick-service restaurants; and integrated tourism development businesses, ranked 15 in the PSE’s weekly top price gainers, with a total value of 1.072 billion. No market moving disclosures were made this week except for the statement of changes in beneficial ownership of securities, the certifications on qualifications of independent directors, and list of top 100…

TORONTO, CANADA – Even as the S&P/TSX Composite Index was down by 14.30 points at the close on Friday, 11 stocks trading at the Toronto Stock Exchange (TSX) posted their new 52-week highs, led by International Road Dynamics Inc. (TSX:IRD), which gained 15.62 percent to hit its 52-week high of 1.11 a share. International Road Dynamics (TSX:IRD)’s stock soared to its 12-month high after the company announced continued strong growth in the three and nine months ended August 31, 2015. Revenue was up 52 percent on growth in key geographic markets and products segments in Q3, while gross margin continues…

HONG KONG – China Banks and Insurance sector rallied on Friday’s trading at the Hong Kong Stock Exchange, with nine stocks ending the week in the green. Minsheng Bank (HKE:01988) led the sector’s gainers as it rose 2.902 percent on Friday to trade at 7.80 at the close, followed by ICBC (HKE:01398), which gained 2.26 percent to end the day at 4.98. Citic Bank (HKE:00998)’s stock gained 1.63 percent to trade at 4.99 at the close, followed by ABC (HKE:01288), whose stock gained 1.60 percent to 3.17 a share. CCB (HKE:00939) was up 1.049 percent, while BankComm (HKE:03328) increased by…

This week at the Philippine Stock Exchange, gainers outnumbered losers, 151 to 60, while 26 stocks remained unchanged as the local stock market continues to gain on the back of various global market moving news. The Philippine Stock Exchange Index (PSEi) gained 4.21 percent this week to 7,138.91 points, bringing its 4-week average gain to 3.29 percent. The All Shares Index also gained 3.10 percent, higher than its 4-week average of 2.93 percent, to end the week at 4,079.75 points. All indexes posted gains this week, led by the Property Index that was up by 8.00 percent. Total market capitalization went…

HONG KONG – Investment holding company BOC Hong Kong (Holdings) Limited (HKG:2388) saw its stock gaining 4.29 percent in today’s trading session at the Hong Kong stock exchange, becoming the top gainer among the city’s blue chip stocks. BOC Hong Kong Holdings Ltd (HKG:2388) gained 1.050 in today’s session, trading at 25.55 at the close, breaking its previous one month high record of 24.950. The Bank, along with its subsidiaries, is engaged in the provision of banking and related financial services in Hong Kong. The Bank operates in five segments: Personal Banking, Corporate Banking, Treasury, Insurance and Others. Both the…

NEW YORK – Johnson Controls Inc (NYSE:JCI)’s stock was trading slightly higher in the early session at the New York Stock Exchange as the company celebrates its 50th year of being listed in New York. As of 10 AM in New York, shares of Johnson Controls Inc was trading at 44.49 apiece, or 0.23 percent higher from its previous close. Johnson Controls Inc creates products, services and solutions to optimize energy and operational efficiencies of buildings; lead-acid automotive batteries and advanced batteries for hybrid and electric vehicles; and interior systems for automobiles. Company chairman and CEO Alex Molinaroli, along with…

HONG KONG – The Industrial and Commercial Bank of China (HKG:1398)’s stock gained 2.26 Percent in today’s trading session at the Hong Kong Stock Exchange, just three day’s after Moody’s assigned a (P)A3 long-term senior unsecured program rating to ICBCIL Finance Co Ltd’s US$5 billion medium-term note program. Shares of ICBC (HKG:1398) opened at 4.97 but posted an intra-day low of 4.94 before it rallied to add 0.110 to its value. The stock traded at 4.98 at the close, beating its one month high of 4.91. ICBC is principally involved in the provision of banking and related financial services. The…

PHILIPPINES – Sureste Properties Inc. (SPI), the hotel and resort development arm of Bloomberry Resorts Corporation (BLOOM), is purchasing a 15,676 square meter land in Vertis North, Quezon City Central Business District, Bloomberry said in a disclosure to the Philippine Stock Exchange. The total purchase price is P1,977,401,992 or P126,142 per square meter. The purchase will be funded by internally generated funds of SPI, Bloomberry has disclosed. SPI has paid the 20% down payment of P395,480,396.40. The balance of P1,581,921,593.60 will be paid 40% within 30 days from issuance of the Notice of Award, and 40% upon signing of the…

AUSTRALIA – Shares of Beach Energy Limited (ASX:BPT) and Independence Group NL (ASX:IGO) were the top gainers in today’s trading session at the Australian Stock Exchange. Beach Energy, an Australian-based company engaged in oil and gas exploration, development and production, saw its shares gaining 15.09 percent to trade at 0.610 at the close. A total of 26.56 million shares exchanged hands. Independence Group, meanwhile, saw its stock up 8.64 percent in today’s trading to close at 3.27 a share. Independence Group NL is engaged in mineral exploration, nickel, copper and zinc mining and the development of the Tropicana Gold Project.…

PHILIPPINES – Stocks at the Philippine Stock Exchange joined their regional peers in posting gains in today’s session, with the Philippine Stock Exchange Index (PSEi) advancing 0.45 percent to 7,138.91 points. Most Asian stocks gained on Friday’s trading after the US Federal Reserves released the minutes of its September meeting. The minutes prompted investors to believe that the US central bank will increase interest rate before the end of this year. MSCI’s broadest index of Asia-Pacific shares, ex-Japan, was up 0.7 percent in early trading and was on its way to post a weekly gain of 5.7 percent. At the Philippine…

MANILA – Shares of Petron Corporation (PSE:PCOR) opened slightly higher in today’s trading session at the Philippine Stock Exchange, leading other blue chips in the opening bell. Petron Corporation’s stock was up 2.00 percent in the opening hour, pricing the share at Php7.14 apiece. About 2,100 shares were exchanging hands as of 9:40 a.m. today. There was not material information disclosed today that can be attributed to the early rise of Petron Corporation’s stock. Early this week though, the company announced that its diesel products – Turbo Diesel and DieselMax – now meet global Euro 4 fuel standards. Euro 4…

TOKYO, JAPAN – Shares of Astellas Pharma Inc (TYO:4503) were trading higher in the morning session at the Tokyo Stock Exchange on the back of news that it has partnered with Immunomic Therapeutics for the exclusive worldwide license agreement on LAMP-vax products. Astellas Pharma Inc (TYO:4503)’s stock was up 1.73 percent to trade at 1,550.5 as of 10:02 a.m. in Tokyo. About 5.2 million shares were exchanging hands as of this posting, with the stock hitting an intraday high of 1,569. On Friday, Immunomic Therapeutics, Inc., a company developing next generation accines based on the LAMP-vax platform, and Astellas Pharma…

SYDNEY, Australia – Macquarie Group Limited (ASX:MQG; ADR:MQBKY) has announced that it has successfully completed a AU$400 million capital raising in the domestic and international capital markets. The news sends Macquarie Group Ltd (ASX:MQG)’s stock up 3.07 percent in the morning session at the Australian Stock Exchange. Shares of Macquarie Group Ltd was trading at AU$80.23 as of 11:30 a.m. at the ASX. In a disclosure to the Australian Stock Exchange, Macquarie Group Ltd Chief Financial Officer Patrick Upfold said that the institutional placement, conducted by way of a bookbuild, will result in the issue of 5 million new fully…

AUSTRALIA – Shares of Prima Biomed Ltd (ASX:PRR; NASDAQ:PMBD) were trading higher in the morning session at the Australian Stock Exchange today on the back of the news that the company received about AU$475,000 (US$345,394) from the European Union and the German Free State of Saxony. As of 11 a.m. at the ASX, Prima BioMed Limited (ASXP:PRR)’s stock was trading 1.75 percent higher at AU$0.058 from its previous close after opening at AU$0.06. At the Nasdaq, however, Prima BioMed Ltd was down 3.31 percent on Thursday’s close, but that was before the company made the disclosure. Prima Biomed Ltd (NASDAQ:PMBD)…

Domino’s Pizza, Inc (NYSE:DPZ)’s stock was slightly down in premarket trading on Thursday after the company reported its quarterly revenue that missed estimates for the second straight quarter. Shares of Domino’s Pizza Inc were priced at US$107.96 before the opening bell, down 0.06% from the previous close of US$108.03. On Wednesday, Domino’s Pizza Inc’s stock gained 0.72 percent as investors were anticipating news about the company’s quarterly revenue. On Thursday, the company reported quarterly revenue that fell below analysts’ estimates for the second straight quarter. The drop was blamed on a strong dollar. Domino’s said last week that third-quarter profit…

SM Prime Holdings, Inc. (SM Prime), one of the leading integrated property companies in Southeast Asia, opens SM City Cabanatuan on October 9, 2015. It is SM Prime’s 53rd mall in the country, and the second mall within Nueva Ecija – along with SM Megacenter Cabanatuan. The new mall provides an additional 154,020 square meters (sqm) in gross floor area (GFA), expanding SM Prime’s total retail space to 6,762,419 sqm in the Philippines, SM Prime said in a disclosure to the Philippine Stock Exchange. SM City Cabanatuan is strategically located along Maharlika Highway in Cabanatuan City, which is the largest…