Latest Breaking News On - Continued hikes concerns on the impact of in federal reserve 39s key rates result decline both local stock barometer and peso again posteda new all time low against us dollar - Page 1 : comparemela.com
CONTINUED HIKES. Concerns on the impact of the continued hikes in the Federal Reserve's key rates result in the decline of both the local stock barometer and the peso. The peso again posted a new all-time low against the US dollar, which economists said is a result of the continued strengthening of the US currency. (PNA graphics) MANILA - Fears on the impact of the Federal Reserve's tightening moves again hurt the local bourse on Wednesday, resulting in the negative close of the main index and the further weakening of the peso. The Philippine Stock Exchange index (PSEi) slid by 2.32 percent, or 155.52 points, to 6,554.08 points. All Shares followed after it declined by 1.71 percent, or 60.88 points, to 3,490.07 points. Holding Firms posted the biggest drop among the sectoral indices after it fell 3.18 percent. It was trailed by Financials, 2.38 percent; Mining and Oil, 2.29 percent; Property, 1.72 percent; Services, 1.46 percent; and Industrial, 0.95 percent. Volume reached 916