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
Hopes for a strong output for the Philippine economy this year lifted the Philippine Stock Exchange index (PSEi) on Monday (Jan. 16, 2023). This, along with the deceleration of US inflation rate and hopes for smaller jumps in the Federal Reserve's key rates also buoyed the peso.(File photo) MANILA-Optimism on the domestic economy's performance this 2023 lifted the local bourse's main index above the 7,000-level on Monday, which, in turn, was mirrored by the peso. The Philippine Stock Exchange index (PSEi) gained 1.35 percent, or 93.94 points, to 7,045.48 points. All Shares rose by 1.03 percent, or 37.53 points, to 3,675.15 points. Most of the sectoral indices also inched up during the day, led by the Financials after it climbed 2.80 percent. It was trailed by the Holding Firms, 2.43 percent; Property, 0.37 percent; and Industrial, 0.32 percent. On the other hand, Mining and Oil slipped by 0.69 percent and Services by 0.10 percent. Volume reached 1.11 billion shares amountin
DOWN. Concerns on the possibility of a recession in the US increased following another large increase in the Federal Reserve funds rate. This resulted in further depreciation of the Philippine peso and the drop to below 6,300 for the Philippine Stock Exchange index (PSEi) on Friday (Sept. 23, 2022). (PNA graphics) MANILA - Recession worries resulted in the local main stocks index ending the week below 6,300-level while the peso registered another record-low against the US dollar despite its sideways close on Friday. The local currency again slipped to its new record low after closing the week at 58.5, which is little changed from its 58.49 finish a day ago. It opened the day at 58.35, weaker than its 58.1 start in the previous session. It traded between 58.5 and 58.25, resulting in an average of 58.349. Volume declined to USD985 million from the previous session's USD1.51 billion. Philippine monetary authorities said the local unit continues to be market-determined although the cen
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
(PNA graphics) MANILA - All the counters in the local bourse traded on the red on Monday partly ahead of the Federal Reserve meeting this week but the peso managed to finish the day sideways against the greenback. The Philippine Stock Exchange index (PSEi) shed by 1.70 percent, or 111.35 points, to 6,437.42 points. All Shares followed with a decline of 1.39 percent, or 48.41 points, to 3,426.00 points. Holding Firms led the sectoral gauges in terms of losses after it fell 2.67 percent and was trailed by Services, 1.50 percent; Property, 1.46 percent; Industrial, 1.03 percent; Financials, 0.68 percent; and Mining and Oil, 0.58 percent. Volume reached 660.59 million shares amounting to PHP4.98 billion. Losers led gainers at 132 to 51 while 51 shares were unchanged. Luis Limlingan, Regina Capital Development Corporation head of sales, said in a statement that investors are on a wait-and-see stance for the policy decisions of several central banks this week. Among others, the Fed will have