RP futures mart perks up<\/p>\n
MANILA (AFP): The Philippines' futures market is perking up
\nwith East Asian clients helping drive up trading by 179 percent
\nin the first quarter, the head of the government's corporate
\nwatchdog agency said.<\/p>\n
About 60 percent of the orders placed in the Manila
\nInternational Futures Exchange (MIFE) were by foreign clients
\nfrom China, Hong Kong, and Singapore, said Securities and
\nExchange Commission (SEC) chairwoman Rosario Lopez.<\/p>\n
"The continued rise in futures trading is being attributed to
\nthe increasing participation of foreign investors who do business
\nwith trade affiliate members based here and in Hong Kong and
\nSingapore," she said in a paper delivered to a recent regional
\nconference in Beijing.<\/p>\n
Twenty-six foreign affiliates applied for membership in MIFE
\nlast year, compared with 11 in 1992, she said.<\/p>\n
She said commodities, topped by agricultural contracts were
\noff to a good start in the first quarter, growing 252.7 percent
\nover the same period last year while financial contracts had a
\nmore modest growth of 55.3 percent.<\/p>",
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