Share prices on the Philippine Stock Exchange (PSE) plummeted by over 2% on Monday, as foreign investors were deterred by the recent spike in COVID-19 cases and the reimposition of more restrictions in Metro Manila.
March 15, 2021 | 1:31 pm Font Size
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Philippine stocks fell the most in Asia, sending the benchmark index below 6,500 as investors dumped the nation’s equities amid escalating daily coronavirus infections.
“Investors are essentially liquidating their holdings” as the renewed spike in COVID cases and renewed mobility restrictions could derail economic recovery prospects, said Lex Azurin, an analyst at AB Capital Securities.
The Philippine Stock Exchange Index lost as much as 3.6%, it’s steepest drop since August, before paring its drop to trade at 6,530.00 as of 12 p.m. local time. All except one of 30 index components declined, with Alliance Global Group Inc, Metro Pacific Investments Corp., San Miguel Corp. and Robinsons Land Corp., each dipping as much as 6%.
MANILA, March 15 (Bloomberg): Philippine stocks fell the most in Asia, sending the benchmark index below 6,500 as investors dumped the nation’s equities amid escalating daily coronavirus infections. Investors are essentially liquidating their holdings” as the renewed spike in Covid cases and renewed mobility restrictions could derail economic recovery prospects, said Lex Azurin, an analyst at AB Capital Securities.
The Philippine Stock Exchange Index lost as much as 3.6%, it’s steepest drop since August, before paring its drop to trade at 6,530.00 as of 12pm local time.
All except one of 30 index components declined, with Alliance Global Group Inc, Metro Pacific Investments Corp., San Miguel Corp. and Robinsons Land Corp., each dipping as much as 6%.
Philippines shares retreat on worries over new NCR curfew hours By TED CORDERO, GMA News
Published March 11, 2021 6:57pm Philippines shares bled on Thursday as investors unloaded positions amid concerns on the new curfew hours imposed in various cities in Metro Manila. The bellwether PSEi shed 89.14 points or 1.31% to 6,719.18 at the closing bell. The broader All Shares lost 27.92 points or 0.69% to 4,050.43. “Selling pressure picked up after curfews were imposed on different cities in Metro Manila,” AAA Equities head of research Chris Mangun said. Metro Manila Council chairperson and Parañaque City Mayor Edwin Olivarez earlier announced that the best time for curfew in the National Capital Region to address the increasing number of COVID-19 cases is 10 p.m. to 4 a.m.
Philippine Inflation Quickens Further as Food Costs Soar
Mar 05 2021, 5:08 PM
March 05 2021, 6:49 AM
March 05 2021, 5:08 PM
(Bloomberg) Inflation in the Philippines continues to gather pace even as the economy struggles to pull itself out of recession, with the central bank wary of spillover effects from higher prices.
(Bloomberg) Inflation in the Philippines continues to gather pace even as the economy struggles to pull itself out of recession, with the central bank wary of spillover effects from higher prices.
Consumer prices rose 4.7% in February from a year earlier, the statistics agency reported Friday. Thatâs the fastest pace since December 2018, according to data compiled by Bloomberg, matching the median forecast in a survey of 21 analysts.