Philippine Entertainment Industry Mourns the Loss of Acclaimed Actress Jaclyn JosePhilippine Stock Exchange Gains on Inflation Anticipation, Peso Stabilizes

MANILA - The Philippine entertainment sector is mourning the passing of esteemed actress Jaclyn Jose, who died of a heart attack on March 2 at the age of 60, marking a significant loss to the industry, Senator Jinggoy Estrada expressed on Monday.

According to Philippines News Agency, who is also a film actor, Senate Resolution 942 was filed to express profound sympathy and sincere condolences to the family of the veteran actress. He lauded Jose for leaving a remarkable imprint on the industry through her unique and world-class talent. "The awards and recognition of her unique skill and talent are imprinted in the history of Filipino film, and it is difficult to match it," Estrada remarked, highlighting her contribution to Philippine cinema.

Jaclyn Jose achieved a historic milestone for the Philippines by winning the Best Actress award at the 69th Cannes Film Festival for her role in the film "Ma' Rosa" in 2016, becoming the first and only Filipino actress to receive this honor, as well as the first from Southeast Asia. Her victory over other international stars like Charlize Theron, Marion Cotillard, and Isabelle Huppert underscored her talent on a global stage.

Estrada pointed out that Jose's success at Cannes not only brought pride to the Philippines but also opened doors for Filipino artists internationally, proving that their stories and talents are deserving of global recognition. This triumph led to the introduction of Senate Bill No. 1032, or the proposed World-Class Filmmakers' Incentives Act, aimed at promoting world-class Filipino film production through tax incentives.

Jose's distinguished career, spanning four decades and featuring numerous awards from prestigious bodies like Gawad Urian Awards, FAMAS Awards, and Luna Awards, has inspired generations of actors and film enthusiasts. "She brought life to her roles, making them feel real and relatable, transcending borders, and touching the hearts of those who watched," Estrada added, emphasizing the depth of her impact on the industry.

Senator Robinhood Padilla, another actor-turned-politician, also extended his condolences to Jose's family, recognizing her as a respected and cherished figure in the entertainment community. "I am asking my colleagues here in the Senate to join me in offering condolences to her family on the sudden passing of our admired and beloved Jaclyn Jose," Padilla stated, reflecting the collective sorrow and respect for the late actress within the Senate and beyond.

MANILA - The Philippine Stock Exchange index (PSEi) saw an uptick on Monday as investors positioned ahead of the anticipated inflation report for February 2024, while the Philippine peso concluded the trading day with minimal change against the US dollar.

According to Philippines News Agency, the PSEi climbed 0.46 percent, or 32.08 points, to close at 6,951.67, touching the 7,000 level mid-session before settling lower due to profit-taking. "Philippine shares continued to rise as investors made bets ahead of the February Philippine Consumer Price Index announcement scheduled for tomorrow, as investors prepare for the start of another trading month," Limlingan noted.

A consensus among 16 analysts anticipates a median inflation rate of 3 percent for February, falling within the Bangko Sentral ng Pilipinas' (BSP) projection range of 2.8 to 3.6 percent. If these expectations hold true, it would represent a slight increase in inflation, ending a four-month trend of declining rates, yet still aligning with the BSP's target range of 2 to 4 percent.

The positive momentum in the local market was also influenced by trends in US markets, Limlingan added. The broader All Shares index also saw gains, increasing by 0.27 percent, or 9.74 points, to 3,618.95. Sectoral performance was mixed, with the Services sector leading the gains, surging 2.46 percent to 1,787.94, followed by the Property and Mining and Oil sectors.

Conversely, the Financials, Industrial, and Holding Firms sectors experienced declines. Claire Alviar, Philstocks Financial, Inc. assistant research manager, highlighted the influence of foreign investors, who contributed a net inflow of USD799.6 million, bolstering the market's performance.

"Chart-wise, the 7,000 level was a strong psychological resistance level for the market. The long upper wick of the market's recent candles, however, suggests strong selling pressure," Alviar explained. The day's net market value turnover reached PHP5.07 billion, surpassing the previous month's average.

Meanwhile, the peso closed at 55.97 against the US dollar, marginally adjusting from Friday's close of 56.02. It opened the day at 56.00, fluctuated between 55.97 and 56.06, with the day's average at 56.01. Trading volume decreased to USD768.2 million from the previous week's USD1.43 billion.