SURPRISE BSP KEY RATES HIKE. Philippines main stocks index recovers on Thursday (July 14, 2022) following the surprise 75 basis points increase in the Bangko Sentral ng Pilipinas' (BSP) key policy rates. Meanwhile, the peso benefited from the rate uptick and gained against the greenback. MANILA - The surprise 75 basis points increase in the Bangko Sentral ng Pilipinas' (BSP) key rates on Thursday allowed the local bourse's main index to finish almost flat while the peso strengthened to 55-level mid-trade. The Philippine Stock Exchange index (PSEi) declined by 0.12 percent, or 7.24 points, to 6,248.13 points. All Shares fell by 0.22 percent, or 7.57 points, to 3,367.00 points. Most of the sectoral indices also ended the day in the negative territory namely Property, 1.24 percent; Holding Firms, 0.70 percent; Mining and Oil, 0.41 percent; and Industrial, 0.26 percent. On the other hand, Financials jumped by 1.69 percent and Services by 0.03 percent. Volume was thin at 680.44
The local stock market fell in anticipation of a spike in the June inflation rate while the peso continues to weaken. The main index dropped 94.57 points or 1.49 percent to close at 6,255.37 as Conglomerates and Banks led the retreat although the Mining and Oil counter managed to advance. Volume fir
'WAIT AND SEE.' The wait-and-see stance before the release of the US June 2022 inflation rate, along with its impact on the Federal Reserve's rate, resulted in the negative close of the local bourse's main index on Wednesday (July 13, 2022). However, the peso took a breather after touching its almost 18-year low on Tuesday. (PNA file photo) MANILA - Risk-off sentiments reigned in the local bourse on Wednesday, resulting in the negative close of the main equities index, but the peso managed to close sideways against the US dollar. The Philippine Stock Exchange index (PSEi) shed 1.49 percent, or 94.57 points, to 6,255.37 points. All Shares followed with a decline of 1.04 percent, or 35.34 points, to 3,374.57 points. Most of the sectoral gauges also tracked the main index, led by the Holding Firms after it fell 1.96 percent. It was trailed by Financials, 1.93 percent; Property, 1.92 percent; Services, 0.59 percent; and Industrial, 0.15 percent. Only the Mining and Oil inde
The local stock market declined as investors pocket gains while waiting for more news. The main index lost 38.70 points or 0.61 percent to close at 6,349.94 with sectoral indices evenly mixed. Volume improved slightly but remained thin at 955 million shares worth P4.19 billion as losers beat gainers
NEGATIVE CLOSE. Risk-off sentiments ahead of the release of the US' June 2022 inflation report, among others, resulted in the negative close of both the main stocks index and the peso on Tuesday (July 12, 2022). The local currency even touched its nearly 18-year low against the US dollar mid-trade. (PNA file photo) MANILA - Risk-off sentiments ahead of the release of the United States June 2022 inflation report weakened both the local stock barometer and the peso which closed to its nearly 18-year low on Tuesday. The Philippine Stock Exchange index (PSEi) shed 0.61 percent, or 38.7 points, to 6,349.94 points. All Shares dipped by 0.35 percent, or 11.87 points, to 3,409.91 points. Half of the sectoral gauges tracked the main index namely Holding Firms, 1.49 percent; Services, 1.03 percent; and Property, 0.28 percent. On the other hand, Mining and Oil rose by 0.96 percent, Financials by 0.75 percent; and Industrial by 0.31 percent. Volume was thin at 955.85 million shares amounting t