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WEAKER. Both the Philippine Stock Exchange index (PSEi) and the peso ended weaker on Tuesday (Jan. 31, 2023) as the Federal Open Market Committee (FOMC) started its two-day meeting. The Federal Reserve is expected to announce a 25 basis points increase on its key rates on Feb. 1 (Manila time). (PNA graphics) MANILA - Investors stayed at the sidelines on Tuesday as the Federal Open Market Committee (FOMC) started its two-day meeting, resulting in the negative close of both the local bourse's main index and the peso. The Philippine Stock Exchange index (PSEi) shed 2.55 percent, or 177.72 points, to 6,793.25 points All other counters also finished the day in the negative territory, with the All Shares down by 1.90 percent, or 69.56 points, to 3,590.40 points. Mining and Oil posted the highest decline among the sectoral indices after it fell by 3.63 percent. It was trailed by Property, 3.09 percent; Holding Firms, 2.66 percent; Services, 2.44 percent; Financials, 1.95 percent; and Indu
The local stock market continued to drop on worries over a possible recession in the US.
The main index lost 82.23 points or 1.27 percent to close at 6,414.27 with the retreat led by the Services sector, mainly due to PLDT’s plunge, with only the Property counter advancing. Volume jumped to 1.31 b
(PNA file photo) MANILA - The Philippine Stock Exchange index (PSEi) shed for four straight days, closing this week's trading 2.34 percent lower. PSEi ended Friday losing 153.13 points to 6,379.17, with all shares down by 1.7 percent (59.81 points) to 3,457.40. "Philippine shares extended their losses as investors gauged the Fed's next move given the latest inflation data. Fresh PPI (producer price index) data, which measures prices at the wholesale level, jumped 11 percent year-on-year," Regina Capital Development Corporation (RCDC) head of sales Luis Limlingan said. For the past four days, the local bourse lost 380.73 points. All sectors, except for Property that grew 0.23 percent (6.65 points), reduced their shares ranging from 1.62 to 4.3 percent. The biggest loser for the day was Holding Firms, down by 263.18 points to 5,855.81. This was followed by Mining and Oil, down by 223.44 points to 10,749.61; Industrial, down by 146.88 points to 8,932.49; Financials, down
(PNA file photo) MANILA - The Philippine Stock Exchange index (PSEi) and peso closed this week both shedding their gains from the previous day's trading as investors look ahead to April jobs data. The PSEi ended Friday logging its second worst trading this year at 6,759.90, slashing by 1.59 percent to 109.02 points. All shares were down by 1.13 percent or 41.46 points to 3,621.70. All counters ended lower except for Services, which slightly gained by 0.47 percent or 9 points to 1,916.91. After gaining big-time in the previous day, Mining and Oil shares lost 162.15 points-the biggest loser on Friday-to 11,607.42. This was followed by Industrial, down by 148.07 points to 9,336.09; Holding Firms, down by 124.33 points to 6,271.66; Property, down by 89.09 points to 3,072.82; and Financials, down by 17.12 points to 1,612.31. "Philippine shares succumbed to yet another tech sell-off, erasing the prior day's rally," Regina Capital Development Corporation (RCDC) head of sales