The local stock market declined after a stronger start as investors wait for more economic news, particularly the gross domestic product (GDP) report.
The main index lost 28.18 points or 0.40 percent to close at 7,041.50 with only the Industrial sector advancing. Volume dropped to 1.96 billion sha
MIXED. The Philippine Stock Exchange index (PSEi) finishes Tuesday (Jan. 24, 2023) in the negative territory on more signs of weaker output for the United States economy this year. However, the peso gained against the US dollar on general weakness of the greenback. (PNA graphics) MANILA - Signs of slowing United States economy resulted in a slip of the local stock barometer on Tuesday but the peso posted an improvement against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.40 percent, or 28.18 points, to 7,041.50 points. All Shares trailed with a drop of 0.13 percent, or 4.77 points, to 3,686.48 points. Most of the sectoral indices also ended the day in the negative territory, led by Holding Firms after it declined by 0.70 percent. It was followed by Mining and Oil, 0.62 percent; Financials, 0.41 percent; Property, 0.29 percent; and Services, 0.25 percent. Only the Industrial index gained during the day after it rose by 0.57 percent. Volume reached 1.96 billion shares
The local stock market overcame early weakness to end slightly higher while investors wait for market moving news.
The main index added 13.06 points or 0.19 percent to close at 7,069.68 with sectoral indices evenly split. Volume was firm at 1.24 billion shares worth P8.35 billion as gainers edged
RESILIENT. The Philippines' main stock index ended up Monday amidst the trading holiday in Asian markets due to the Chinese New Year. The peso also kept its footing and ended flat against the US dollar partly due to dovish statements from Philippine and US monetary authorities as well as the rise of the Philippine Stock Exchange index (PSEi). (PNA file photo) MANILA - The local bourse managed to end higher in the week's first trading day amidst the suspension of trading in Asia due to the Chinese New Year, while the peso kept its footing against the US dollar. The Philippine Stock Exchange index (PSEi) rose by 0.19 percent, or 13.06 points, to 7,069.68 points. All Shares followed with a jump of 0.23 percent, or 8.39 points, to 3,691.25 points. Half of the sectoral indices also gained during the day, namely Holding Firms, 0.63 percent; Financials, 0.24 percent; and Services, 0.22 percent. On the other hand, Mining and Oil shed by 0.80 percent; Industrial, 0.35 percent; and Prope
RECESSION FEARS. Philippines' main stocks index ended the week sideways after rising to the 7,000-level in the middle of this week as investors continue to see sustained hikes in the Federal Reserve's key rates this year. Relativey, recession fears, among others, affected the peso's trading with the US dollar this week despite the depreciation of the greenback against other major currencies. (PNA graphics) MANILA -Both the local bourse's main index and the peso ended the week sideways as their US counterparts weaken on signs of recession, among others, in the world's largest economy. The Philippine Stock Exchange index (PSEi) shed 0.08 percent, or 5.39 points, to 7,056.62 points. All Shares followed with drop of 0.10 percent, or 3.82 points to 3,682.86 points. Half of the sectoral gauges also finished the week on the red namely Services, 0.85 percent; Industrial, 0.54 percent; and Financials, 0.44 percent. On the other hand, Mining and Oil rose by 1.32 percent, Prop