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PSEi extends decline, peso depreciates
MANILA – Local shares declined for the second consecutive day, while the peso also depreciated on Wednesday.
The Philippine Stock Exchange index (PSEi) went down by 0.18 percent to 6,195.26 while All Shares slightly fell by 0.08 percent to 3,681.80.
"The market fell further as investors took cues from Wall Street's fall driven by recession fears and cautious trading ahead of the release of the US' March inflation report," Philstocks Financial research manager Japhet Tantiangco said.
"Investors also digested the US' 25 percent tariffs on steel and aluminum imports, which had already taken effect and the ensuing retaliation from the European Union."
Sectors were mixed with the properties taking the lead, up 1.24 percent.
The miners, on the other hand, were at the bottom, declining by 0.81 percent.
Decliners edged advancers 127 to 77.
Meanwhile, the peso weakened, closing at 57.36 to the US dollar from 57.22 the previous trading day.
It opened at 57.3 and traded between 57.29 and 57.39.
The day’s weighted average stood at 57.34.
Volume of trade went down to USD1.16 billion from USD1.38 billion the previous day. (PNA)
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Netizens told not to spread misinformation vs. candidates
MANILA – The Philippine National Police-Anti-Cybercrime Group (PNP-ACG) on Wednesday warned netizens not to use social media to spread disinformation against candidates in the upcoming national and local elections.
PNP-ACG spokesperson Lt. Wallen Mae Arancillo said strategies and measures have been formulated to identify fake accounts being used for a smear campaign against any candidate.
She said the ACG is now investigating one social media account while three others are for regular filing in the prosecutor’s office.
Arancillo said the four cases were from Ilocos Region, Western Visayas, Northern Mindanao, and Caraga region.
The complainants, she said, were two mayors, one board member and a barangay captain.
The complaints involved threats and other allegations which, Arancillo said, could be considered defamatory.
“The accounts they used were fake so we applied for cyber warrants in courts to determine the real identity of these people and prove that they were the ones who indeed posted the defamatory contents,” she added.
Arancillo said netizens should refrain from posting unverified information to spare them from any legal troubles.
“We have been monitoring, cyber-patrolling. So, to those who are posting fake news and misinformation, always remember that these are prohibited by the laws and with fines and imprisonment,” she said.
The election campaign for national candidates started on Feb. 11, while for the local bets will begin on March 28.
Over 18,000 elective positions will be up for grabs in the May 12 mid-term polls. (PNA)
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