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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 ....
UP.Expectations for positive producer price index (PPI) and retail sales reports in the US for December 2022 further lifted the local bourse's main index on Wednesday (Jan. 18, 2023). Sustained rise of the main index, along with optimism about the domestic economy's 2023 output also buoyed the peso against the US dollar. (PNA file graphics) MANILA - Optimism on the United States' retail sales as well as domestic output this year lifted sentiments in the local bourse, which also benefited the local currency on Wednesday. The Philippine Stock Exchange index (PSEi) sustained its climbed and rose by 1.15 percent, or 80.82 points, to 7,094.86 points. All Shares followed with a jump of 0.95 percent, or 34.59 points, to 3,692.51 points. All the sectoral gauges also gained during the day, led by the Services after it inched up by 3.36 percent. It was trailed by the Industrial, 1.49 percent; Mining and Oil, 0.78 percent; Financials, 0.60 percent; Property, 0.54 percent; and Holding ....
MIXED. Investors took profit on Tuesday (Jan. 17, 2023) that resulted to the negative close of the Philippine Stock Exchange index (PSEi) a day after it rose to the 7,000-level. On the other hand, the peso kept its footing against the US dollar amidst correction. (PNA file photo) MANILA - Profit-taking took over the local bourse's main index on Tuesday resulting in its slip while the peso ended the day sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 0.45 percent, or 31.44 points, to 7,014.04 points. All Shares also ended in the red with a drop of 0.47 percent, or 17.23 points, to 3,657.92 points. Industrial posted the biggest decline among the sectoral gauges after it went down by 1.33 percent. It was followed by the Holding Firms, 1.03 percent; Financials, 0.73 percent; and Mining and Oil, 0.56 percent. On the other hand, Property rose by 1.12 percent and Services by 0.22 percent. Volume reached 1.25 billion shares amounting to PHP10.14 billion. Dec ....
RECOVERY. The decline in the prices of commodities in the world market boosts sentiments and results in the positive close of both the Philippines' main equities index and the peso on Friday (July 8, 2022). Analysts said hints from the central bank of more aggressive rate hikes also contributed to positive sentiments during the day. (PNA file photo) MANILA - The Philippines' main stocks index recovered on Friday and the peso recovered to the 55-level against the US dollar partly on the decline of commodity prices in the international market. The Philippine Stock Exchange index (PSEi) reversed its path and rose by 0.15 percent, or 9.50 points, to 6,361.82 points. All Shares followed with a jump of 0.16 percent, or 5.37 points, to 3,410.76 points. Most of the sectoral indices also gained during the day namely Industrial, 1.07 percent; Financials, 1.01 percent; Mining and Oil, 0.98 percent; and Services, 0.41 percent. On the other hand, Property fell by 0.89 percent and Holding Fi ....
AGGRESSIVE HIKES. Statements for more aggressive hikes in central banks' policy rates resulted in another decline in both the Philippines main equities index and the peso on Thursday (June 23, 2022). Fears for a recession in the US contributed to investors' worries, analysts said. (PNA file photo) MANILA - Monetary authorities' statements for continued tightening of policy rates both here and in the US resulted in further decline of both the Philippines' main equities index and the peso on Thursday. All the counters in the local bourse again closed the day in the negative territory, with the Philippine Stock Exchange index (PSEi) down by 1.67 percent, or 102.77 points, to 6,065.23 points. All Shares followed with a drop of 1.31 percent, or 43.62 points, to 3,284.73 points. Mining and Oil posted the biggest drop among the sectoral counters after it slipped by 3.98 percent and was trailed by the Financials, 3.35 percent; Services, 2.40 percent; Property, 1.31 percent; Ind ....