WEAKER. Anticipation for the release of the January 2023 report on Tuesday (Feb. 7, 2023) resulted in the negative close of the local bourse's main index and the peso on Monday. The inflation rate was projected to have reached its highest so far last December when it accelerated to 8.1 percent, the highest since November 2008. (PNA graphics) MANILA - The local bourse's main index closed lower Monday ahead of the release of the January 2023 inflation report while the peso slipped to 54-level, which has been traced to correction against the United States dollar. After rising several days last week, the Philippine Stock Exchange index (PSEi) lost 1.29 percent, or 90.77 points, to 6,936.61 points. It was tracked by counters across-the-board, with All Shares down by 0.83 percent, or 30.78 points, to 3,674.68 points. Services posted the biggest decline among the sectoral gauges after it slipped by 1.33 percent and was trailed by Financials, 1.22 percent; Property, 1.21 percent; Holdi
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
RISK-OFF. Further hike in the Federal Reserve's key rates by another 75 basis on Sept. 21, 2022 further dampened investors' sentiment on currencies and bourses. This resulted in the negative finish for both the Philippine peso and the local stock barometer on Thursday (Sept. 22, 2022). (PNA graphics) MANILA - Both the Philippine peso and the main equities index finished Thursday down, with the local unit registering a fresh all-time low, following the widely expected 75 basis points increase in the Federal Reserve's key rates. The local currency posted another record-low against the US dollar at 58.49, erasing its record 58.00 finish on Wednesday. It opened the day at 58.1, sideways from its 57.7 start in the previous session. It traded between 58.5 and 58.00, resulting in an average of 58.406. Volume reached USD1.51 billion, up from the previous session's USD1.05 billion. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the peso has wea
MIXED ANEW. The main stocks index recovered on Tuesday (Sept. 20, 2022) amidst expectations for another large rate hike from the Federal Reserve this week. However, the peso registered another record-low against the US dollar as the latter is expected to remain attractive given the outcomes in the Fed's key rates. (PNA graphics) MANILA - The main stocks index recovered on Tuesday amidst expectations for another hike in the Federal Reserve's key rates but the peso posted a fresh all time-low against the US dollar, its seventh so far this year. Although the local currency sustained its sideways close against the US dollar and finished Tuesday at 57.48 from 57.4 a day ago, its latest close is the weakest to date. It opened the day's trade at 57.4 and traded between 57.5 and 57.355. The average level for the day stood at 57.42. Volume rose to USD967 million from USD508.4 million a day ago. Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort said the loc