WAIT-AND-SEE STANCE. Concerns on elevated inflation rate and the rate adjustment decisions by monetary authorities here and in the United States resulted in the negative close of both the local bourse's main index and the peso on Friday (Feb. 17, 2023). Economists said investors remain on wait-and-see stance for the key rate decisions of the Bangko Sentral ng Pilipinas (BSP) and the Federal Reserve, both of which are expected to raise their respective rates by at least 50 basis points this year. (PNA graphics) MANILA - The local stock barometer ended the week lower on inflation concerns and central banks' rate hiking path and this was mirrored by the local currency. The Philippine Stock Exchange index (PSEi) shed 0.54 percent, or 36.89 points, to 6,779.02 points. All Shares followed with a decline of 0.48 percent, or 17.39 points, to 3,621.69 points. Most of the sectoral gauges also finished the day down, led by Property after it fell by 1.75 percent. Industrial trailed after s
PSEi, peso end week down on inflation, central bank rate concerns
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The local equities market recovered some lost ground as investors started to pick up stocks that have become cheaper in the last two days.
The main index added 30.85 points or 0.45 percent to close at 6,822.09 as the Property sector led the advance while the Services and Mining counters continued
The local stock market continued to lose ground as investors expect a rate hike by the central bank.
The main index dropped 47.52 points or 0.69 percent to close at 6,791.24 as the rate-sensitive Property sector led all sub-indices down. Volume improved to 969 million shares worth P7.37 billion a
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