The local stock market bounced from its sharp drop yesterday as some good news encouraged investors to pick up cheaper stocks.
The main index rose 39.66 points or 0.61 percent to close at 6,593.74 as the Property sector led the advance while the Services and Mining counters remained in the red. Vo
The local stock market fell as US bond yields rose while the Philippine peso weakened further.
The main index dove by 155.52 points or 2.32 percent to close at 6,554.08 with Conglomerates leading the retreat across the board. Volume was a little higher but remained anemic at 916 million shares wor
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
The local stock market moved up slightly following the release of the August inflation number which was slightly lower than the previous month.
The main index rose 33.56 points or 0.50 percent to close at 6,709.60 as the Mining and Oil index led the advance although Banks and Industrials retreated