Philippines - Market factors to watch - Dec 14

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WHAT IS HAPPENING TODAY IN THE PHILIPPINES:

- Agrarian Reform Secretary Virgilio Delos Reyes and Chairman Mary Grace Pulido-Tan of Commission Audit are guests at Communication and News Exchange Forum, 3/F, PIA Conference Room, PIA Building, Visayas Avenue, Quezon City, 9:30-11:30 a.m. [0130-0330 GMT]

REUTERS NEWS - PHILIPPINES > October bank loan growth 2-1/2 yr high > October money supply rises 6.9 pct y/y > October exports fall 14.6 pct yr/yr

LOCAL PRESS REPORTS

(Reuters has not verified these stories)

- The government has disbursed a total of 41.66 billion pesos ($950 million) of the 72.11-billion-peso Disbursement Acceleration Plan aimed at spurring the economy, data from the Budget department showed. (BUSINESSWORLD)

- The initial public offering of software distributor Touch Solutions Inc has been oversubscribed, with investors demanding nearly five times more than the offer size, the issue underwriter said. (BUSINESSWORLD)

- Regulators are poised to approve on Thursday the local bourse's proposal to shorten the period granted for errant listed firms to comply with the minimum public float rule, Securities and Exchange Commission chairman Teresita Herbosa said. (BUSINESSWORLD)

- The Indonesia-based Citra group, which holds the majority interest in the South Metro Manila Skyway concessionaire, is alloting $1.5 billion for infrastructure acquisitions and developments in the Philippines, an official from the group said.

">WHAT IS HAPPENING TODAY IN THE PHILIPPINES:- Agrarian Reform Secretary Virgilio Delos Reyes and Chairman Mary Grace Pulido-Tan of Commission Audit are guests at Communication and News Exchange Forum, 3/F, PIA Conference Room, PIA Building, Visayas Avenue, Quezon City, 9:30-11:30 a.m"(ALL PAPERS)

- The state-run Clark Development Corp is reviewing a 550-hectare property allotment at the Clark Freeport Zone and Clark Special Economic Zone sought by tycoon Andrew Tan-led Megaworld Corp in line with the soon-to-be-issued guidelines covering land leasing at the former U.S. air base. (PHILIPPINE DAILY INQUIRER)

- State-owned Bases Conversion and Development Authority expects to generate at least 45 billion pesos through the planned offering of idle state assets to be the private sector for development. (PHILIPPINE DAILY INQUIRER)

- Manila Electric Co has acquired 523 million pesos worth of subtransmission assets, which will allow it to gain full control of the operation, maintenance, upgrading and expansion of such facilities from state-run National Transmission Corp. (ALL PAPERS)

MARKET NEWS > SEAsia stocks weaken on Europe downgrade fears > Europe downgrade fears hit Asia FX > Global stocks fall after Fed, euro hits 11-mo low > Oil jumps 2 pct on Iran jitters, OPEC meeting eyed > Euro vulnerable to more downside, hits 11-mth lows > Gold futures down 2 pct after dollar rally on Fed ----------------------MARKET SNAPSHOT @ 2352 GMT----------------

INSTRUMENT LAST PCT CHG NET CHG S&P 500 1225.73 -0.87% -10.740 USD/JPY 77.96 -0.04% -0.030 10-YR US TSY YLD 1.9721 -- 0.009 SPOT GOLD 1626 -0.30% -4.890 US CRUDE 99.91 -0.23% -0.230 DOW JONES 11954.94 -0.55% -66.45 ASIA ADRS 113.61 -1.35% -1.55 ----------------------------------------------------------------

($1 = 43.9 pesos) Pan-Asia......

Japan........ S.Korea.... S.E. Asia............ Hong Kong...

"(BUSINESSWORLD)- The initial public offering of software distributor Touch Solutions Inc has been oversubscribed, with investors demanding nearly five times more than the offer size, the issue underwriter said"Taiwan..... Australia/NZ......... India....... China.....

OTHER MARKETS: Wall Street........... Gold.......

Currency. Eurostocks........... Oil......... JP bonds.. ADR Report..........

"(BUSINESSWORLD)- Regulators are poised to approve on Thursday the local bourse's proposal to shorten the period granted for errant listed firms to comply with the minimum public float rule, Securities and Exchange Commission chairman Teresita Herbosa said"LME metals.. US bonds.. Stocks News US... Stocks News Europe..

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LIVE PRICES & DATA: Philippine stocks Philippine peso Philippine debt Debt World Stocks Currency rates Dow Jones/NASDAQ Nikkei FTSE 100 LME price overview (Reporting by Manila Newsroom)

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