The local stock market bounced from the previous day’s drop as funds adjusted their portfolio after the MSCI rebalancing.
The main index added 34.0 points or 0.50 percent to close at 6,876.79 as the Industrial sector led the advance while the Services counter retreated. Volume amounted to 824 mill
Local share prices dropped again on concern over inflation and the possibility of more interest rate hikes by the US Federal Reserve and the Bangko Sentral ng Pilipinas.
The main index fell by 80.29 points or 1.16 percent to close at 6,842.79 with the Industrial sector leading the retreat. Volume
The local stock market regained some lost ground as investors were cheered by higher US stocks after the Fed cited lower consumer prices.
The main index rose by 41.82 points or 0.61 percent to close at 6,923.08 as the Mining and Oil sector led the advance while Conglomerates lagged behind. Volume
EASING INFLATION. Decelerating consumer price index (CPI) in the US, which Federal Reserve Chair Jerome Powell cited in his speech on Tuesday (Feb. 8, 2023), helped appease investors' sentiment that resulted in the recovery of the local stock barometer on Wednesday. This development also lifted the peso against the US dollar during the day. (PNA file photo) MANILA - The local bourse's main index recovered on Wednesday after Federal Reserve Chair Jerome Powell noted the decelerating United States consumer price index (CPI), while the peso gained to a greenback. The Philippine Stock Exchange index (PSEi) rose by 0.61 percent, or 41.82 points, to 6,923.08 points. All Shares followed with a jump of 0.53 percent, or 19.26 points, to 3,675.01 points. Most of the sectoral gauges also rose during the day, led by Mining and Oil after it increased by 3.48 percent. It was trailed by Financials, 1.58 percent; Property, 1.34 percent; Services, 0.67 percent; and Industrial, 0.66 percent. Onl
DOWN. The higher-than-expected January 2023 domestic inflation rate of 8.7 percent resulted in another decline of both the Philippine Stock Exchange index (PSEi) and the peso on Tuesday (Feb. 7, 2023). Economists said geopolitical issues between the US and China and anticipations on the path of the Federal Reserve's key rates also affected both the equities and the currency markets. (PNA graphics) MANILA - The local bourse's main index declined anew on Tuesday partly due to acceleration in domestic inflation rate to 14-year high of 8.7 percent last January, and this performance was mirrored by the peso. The Philippine Stock Exchange index (PSEi) shed 0.80 percent, or 55.35 points, to 6,881.26 points. All Shares followed with a decline of 0.52 percent, or 18.93 points, to 3,655.75 points. Most of the sectoral indices also finished the day in the negative territory Services, 1.53 percent; Property, 0.95 percent; Financials, 0.94 percent; and Industrial, 0.84 percent. On the oth