Infrastructure slowdown dents state capital spending

THE NATIONAL GOVERNMENT’S capital spending slipped in October as spending on infrastructure declined, the Department of Budget and Management (DBM) reported on Monday. State spending on goods and services, including infrastructure, totaled P96.9 billion in October, down seven percent from a year earlier. Spending on infrastructure and other capital outlays, fell 12.9% to P82.2 billion “mainly from lower capital spending of agencies as compared to the previous year.” That month’s total was a reversal of the 53.9% year-on-year surge in September to P100.3 billion and the fifth contraction in infrastructure spending recorded so far this year. READ MORE 

Peso inches up on US-China trade deal – Stronger peso means lesser foreign investors & affects Export.

THE PESO ended sideways on Monday as the market awaits clearer details from the “phase one” deal between the US and China and as investors close their books for the year. The local unit finished trading at P50.635 against the greenback on Monday, almost flat from its P50.64 close on Friday, according to data from the Bankers Association of the Philippines. READ MORE

PSEI TECHNICAL CHART AND EXPLAINED

KEY TAKEAWAYS

  • Fundamentally the PSEi is all good for a rally
  • Recent MWC, MPI & DMC on water issues have created a ripple in the market
  • Investors are caught off-guard and uncertainty looms
  • We stay invested with good companies like JFC, SMC and others

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