By Revin Mikhael D. Ochave, <\/b>Journalist<\/i><\/p>\n
MARKETS are anticipated to react positively to generally tranquil midterm elections on May 12, with Philippine President Ferdinand R. Marcos, Jr\u2019s economic strategies seemingly poised for enhancement from allies in the new Congress, analysts mentioned.<\/p>\n
\u201cThe Philippine Stock Exchange Index (PSEi) will strive to reach and surpass the formidable 6,500 barrier if elections are peaceful,\u201d Cristina S. Ulang, research head at First Metro Investment Corp., stated in a Viber message.<\/span><\/p>\n \u201cIf nationwide tranquility prevails, the market will applaud the Philippine election\u2019s transparency and resolution, marking a progressive step toward a new era in political governance and economic development,\u201d she remarked. \u201cA peaceful election will serve as a benchmark in Southeast Asia for the country\u2019s effective democracy.\u201d<\/p>\n Markets were inactive on Monday as Filipinos elected a new group of congressmen, 12 out of the 24-member Senate, and countless local officials during the midterm elections.<\/span><\/p>\n Commission on Elections Chairman George Erwin M. Garcia indicated there were no significant technical problems throughout the elections.<\/p>\n However, there was an attempt to hinder Filipinos from casting their votes in certain regions of Datu Odin Sinsuat, Maguindanao del Norte in southern Philippines, he noted.<\/p>\n The independent peace monitoring organization Climate Conflict Action reported that certain areas in the Bangsamoro Autonomous Region in Muslim Mindanao experienced violence and intimidation aimed at obstructing voter participation.<\/p>\n It further reported confrontations and scuffles at polling stations in Cotabato City, along with unauthorized blockades and road controls by partisan factions in Lanao del Sur, all within the Mindanao region. Additionally, there were convoy ambushes and armed conflicts in Basilan province.<\/span><\/p>\n Election watchdog National Citizens\u2019 Movement for Free Elections also noted voting delays due to high voter turnout, which resulted from the absence of voter assistance desks and personnel.<\/p>\n On Friday, the primary Philippine Stock Exchange Index increased by 1.07% or 68.71 points to 6,458.2, while the wider all-share index rose by 0.6% or 22.5 points to 3,762.85.<\/span><\/p>\n The benchmark index improved by 0.72% or 46.34 points from the previous week.<\/p>\n The Commission on Elections previously stated that over 68 million Filipinos had registered to participate in voting for more than 18,000 national and local positions.<\/p>\n