The party division being addressed is a market positive, but Arroyo staying on will mean continuing political tension.

There is going to be a lot of political tension, which would lead to investors shying away from the Philippines, both in terms of equities and real investments.

We will have a very good first quarter. The market may reach the 2400 level during the period.

It is more likely that China is preparing production for December so they are gearing up ... you will probably see sustained growth [in Chinese demand] for the next two months.

It's a system that moves very slowly, and will create tension for us for many days. It will be a long battle.

Foreign institutional investors are, I think, cautious to neutral on equities, including those in the Philippines.