The PSEi weakened after the US Federal Reserve announced an expected rate cut which prompted investors to sell rate-sensitive stocks.
The main index dropped 49.57 points or 0.70 percent to close at 6,986.19, weighed down by Conglomerates and Property firms while more sectors advanced. Volume remai
The local stock market plunged as investors continue to lighten their portfolios before the Fed starts its meeting this week.
The main index fell 177.72 points or 2.55 percent to close at 6,793.25 as the Mining and Oil sector led all indices in the retreat. Volume rose to 1.54 billion shares worth
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 market fell as investors locked in gains while waiting for the US Federal Reserve’s meeting this week.
The main index dropped 81.19 points or 1.15 percent to close at 6,970.97 as Miners led the retreat although Banks managed to advance. Volume rose to 1.21 billion shares worth P8.3 billi
The local stock market was up slightly after the US also reported a stronger than expected economic growth rate.
The main index added 9.46 points or 0.13 points to close the week at 7,052.16 with the Mining and Oil counter posting the highest rise. Volume was still low at 1.12 billion shares worth