News Highlights:Bloomberry Resorts Corp. (BLOOM) is looking into expanding its casino business in Japan, which is moving toward legalizing casino gambling. Moreover, Bloomberry Resorts (BLOOM) said that the sale of Jeju Sun Hotel & Casino will no longer push through amid failed talks with Iao Kun Group Holding Co., a Macau junket operator. In other news, consumer confidence reached 9.2% in Q4, recording a new all-time high and up from 2.5% in the previous quarter.
|T-Bill 14Nov'16||Rate %||Bps Chg.||Vol
|Commodities||09 Dec||Abs. Chg.||% Chg||Forex||Value|
|91-day||1.484||+20.3||8.0||Gold Spot (USD)||1,159.86||(10.92)||(0.93)||Close||49.76|
|364-day||-||N.A.||6.0||WTI Crude (USD/bbl)||51.50||+0.66||+1.30||Low||49.74|
|09Dec||Abs. Chg||% Chg|
|Mining and Oil||12,013.62||(14.23)||(0.12)|
|Net foreign Buy (Sell)-Pmn||(942.42)||(1,372.98)||(318.88)|
|Japan (Nikkei 225)||18,996.37||230.90||+1.23|
|Shanghai (CSI 300)||3,493.70||23.56||+0.68|
|Singapore (Straits Times)||2,956.13||(2.73)||(0.09)|
|Malaysia (KLCI Comp)||1,641.42||(2.33)||(0.14)|
|South Korea (KOSPI)||2,024.69||(6.38)||(0.31)|
|Shenzhen (SE Comp.)||2,070.01||(7.36)||(0.35)|
|Hong Kong (Hang Seng)||22,760.98||(100.86)||(0.44)|
|Sun Life (SLF:US)||39.42||0.21||+0.54|
Rally on ECB decision, PSEi @7,043: Local equities managed to stay above 7,000 level, reflecting optimism on the European Central Bank’s decision to extend its bond-buying program. PSEi ended 20 points higher at 7,043 (0.30% day-on-day), with most sectors in the green territory, buoyed by financials (+0.74%) and holdings (+0.48%). Among actively-traded shares were: ALI (+P0.50 at P34.95); MBT (+P2 at P76.40); and AC (+P8 at P732), on P7.2bn turnover. Gainers-losers were 102-69, on net foreign selling P942mn.
Extending rally, but to expect thin trading:Mart might extend rally today to mirror Wall Street’s record-high close on Friday, as no major leads drive market sentiment. However, we might see some thin trading starting today as most players wait on the outcome of the most anticipated Fed meeting this week. Meanwhile, players might also be sidetracked with Shakey’s (PIZZA) listing by 15 December. Immediate support is 7,000, resistance at 7,110.
|BLOOM, looking to expand in Japan: Bloomberry Resorts Corp. (BLOOM) is looking into expanding its casino business in Japan, which is moving toward legalizing casino gambling. A bill to pave the way for the legalization of casino in Japan may be passed into law before the session ends on Dec 14.
BLOOM sale of Jeju Sun will not push through:Bloomberry Resorts (BLOOM) said that the sale of Jeju Sun Hotel & Casino will no longer push through amid failed talks with Iao Kun Group Holding Company, a Macau junket operator. Earlier, BLOOM signed an agreement with Iao Kun Group on the sale by Solaire Korea Co. of its 96.23% shareholding in Golden & Luxury Co., the owner and operator of Jeju Sun Hotel & Casino.
HOUSE expects its condominium development to drive growth: 8990 Holdings, Inc. (HOUSE) is expecting 45% of its gross sales in 2017 to come from condominium projects in NCR. Originally, HOUSE intended to launch 14 projects this year (2016) but delays in securing permits pushed back the launch of 3 developments planned in Davao City. At least 8 projects, including the 3 in Davao, will move into the construction stage next year.
Consumer confidence in Q4 rose to new all-time high:Consumer confidence reached 9.2% in Q4, recording a new all-time high and up from 2.5% in the previous quarter. This was on the back of optimism of Filipinos on improved peace and order and more jobs under the new administration.
BSP orders banks to adopt Clean Note and Coin Policy: The Bangko Sentral ng Pilipinas (BSP) Monetary Board has ordered banks to adopt BSP Circular 931, or the clean note policy. Banks are ordered to turn over soiled bills and those that bear writing marks on the bill to the BSP's Cash Department for disposal. This will be replaced with clean notes for circulation. Banks who fail to put in place the clean note policy might merit sanctions from BSP.
Small banks allowed to resume setting up branches in MM:As part of the BSP’s efforts to reopen the financial system to more players, it has moved to lift another restriction. Rural and cooperative lenders can now resume setting up branches in key Metro Manila (MM) cities like Makati, Mandaluyong, Parañaque, Pasay, Pasig, Quezon City and San Juan. Recall that previously, only microfinance-oriented lenders (catering the micro and small enterprises) were allowed to open branches in MM.