Live Breaking News & Updates on Icafort Said The Fed Has Hinted For Two More Rate Hikes Until May Meanwhile

MIXED ANEW. The Philippines main equities index ended Thursday (Feb. 2, 2023) down following the widely expected 25 basis point increase in the Federal Reserve's key rates. However, the peso gained against the US dollar and even climbed to the 53-level. (PNA graphics) MANILA - The widely expected 25 basis point increase in the Federal Reserve's key rates resulted in the negative close of the local bourse's main index on Thursday but the peso improved against the United States dollar. The Philippine Stock Exchange index (PSEi) shed 0.70 percent, or 49.57 points, to 6,986.19 points. All Shares ended sideways after declining by 0.09 percent, or 3.39 points, to 3,683.78 points. However, more of the sectoral indices gained during the day namely Mining and Oil, 3.04 percent; Services, 0.75 percent; Industrial, 0.24 percent; and Financials, 0.20 percent. Volume reached 1.29 billion shares amounting to PHP8.9 billion. Advancers led decliners at 114 to 67 while 56 shares were unchan ....

United States , San Carlos , Negros Occidental , Jerome Powell , Michael Ricafort , Rizal Commercial Banking Corporation , Federal Reserve , Philippine Stock Exchange , Commercial Banking Corporation , Mixed Anew The Philippines Main Equities Index Ended Thursday Feb 2 , 023 Down Following The Widely Expected 25 Basis Point Increase In Federal Reserve 39s Key Rates However , He Peso Gained Against The Us Dollar And Even Climbed To 53 Level Pna Graphics Manila Widely Expected 25 Basis Point Increase In Federal Reserve 39s Key Rates Resulted Negative Close Of Local Bourse Main Index On Thursday But Improved United States Philippine Stock Exchange Psei Shed 0 70 Percent , R 49 57 Points , Go 6 , 986 19 Points All Shares Ended Sideways After Declining By 0 09 Percent , R 3 39 Points , O 3 , 683 78 Points However , Ore Of The Sectoral Indices Gained During Day Namely Mining And Oil , He Local Unit Ended The Day At 53 845 Against Us Dollar From Wednesday 39s 54 475 Rizal Commercial Banking Corporation Rcbc Chief Economist Michael Ricafort Said Thursday Close Of Currency Is Strongest In More Than 7 5 Months Or Since June 17 , 022 When It Closed At 53 75 Opened The Day 54 20 And Traded Between 835 Average Level For Stood 955 Volume Reached Usd1 620 Billion , P From The Previous Session 39s Usd958 9 Million Ricafort Said Fresh Federal Reserve Rate Hike , Hich Brought Its Funds Rate To Between 4 5 75 Percent , A New 15 Year High , Argely Drove Financial Markets During The Day Citing Reports Quoting Federal Reserve Chair Jerome Powell , Icafort Said The Fed Has Hinted For Two More Rate Hikes Until May Meanwhile ,