Stocks drop further on fresh inflation concerns

BusinessWorld
May 6, 2021 | 9:00 pm
PHILIPPINE STAR/ KRIZ JOHN ROSALES
STOCKS continued to decline on Thursday as the possibility of an increased pork tariff rate caused renewed concerns over inflation, dampening market sentiment.
The benchmark Philippine Stock Exchange index (PSEi) declined by 16.91 points or 0.26% to close at 6,282.78 on Thursday, while the broader all shares index lost 2.78 points or 0.07% to end at 3,879.65.
China Bank Securities Corp. Research Associate Jason T. Escartin said market sentiment stayed weak due to the possibility of an increase in pork tariffs, “which may fan inflation concerns anew.”
“While the compromise agreement between local hog raisers and government is likely to hurt short-run market sentiment due to its impact on inflation expectations, we think this reduces the uncertainty around a sharper policy reversal in [the second half of the year],” Mr. Escartin said via e-mail.

Related Keywords

China ,Philippine ,Benguet ,Philippines ,Keren Concepciong Valmonte , ,Research Head Christopher Johnj Mangun ,Pfizer ,Astrazeneca ,China Bank Securities Corp ,China Bank Securitie Mr ,Southeast Equities Inc ,Philippine Stock Exchange ,Research Associate Jasont Escartin ,Bank Securities ,Research Associate Jason ,Research Head Christopher John ,Bank Securitie ,Keren Concepcion ,சீனா ,பிலிப்பைன் ,பிலிப்பைன்ஸ் ,ஃபைசர் ,சீனா வங்கி பத்திரங்கள் கார்ப் ,தென்கிழக்கு பங்குகள் இன்க் ,பிலிப்பைன் ஸ்டாக் பரிமாற்றம் ,வங்கி பத்திரங்கள் ,ஆராய்ச்சி இணை ஜேசன் ,ஆராய்ச்சி தலை கிறிஸ்டோபர் ஜான் ,கர்ரந் கருத்து ,