The peso started the first full trading week of 2025 by falling further against the greenback even as continued bargain-hunting allowed the stock exchange to climb for a third straight day since the start of the year.The peso weakened by seven centavos to P58.27 against the dollar. It opened at Friday's close of P58.20:$1 and ranged from P58.17 to P58.36. Volume rose to P1.740 billion from P1.377 billion.The fall, which extended a run of declines since trading resumed on Jan.
2, was blamed by Rizal Commercial Banking Corp. chief economist Michael Ricafort on the continued strength of the dollar due to robust US economic data and geopolitical uncertainties.The benchmark Philippine Stock Exchange index (PSEi), meanwhile, added 21.36 points, or 0.32 percent, to close Monday at 6,625.17.The broader All Shares also rose, by 8.55 points or 0.23 percent, to 3,794.03.Philstocks Financial Inc. research manager Japhet Tantiangco said 'the local market extended its rise as investors continued with their bargain hunting.''Also aiding in Monday's session ... optimistic expectations towards the Philippines' December 2024 inflation rate,' he added, data for which will be released today.Tantiangco said the day's trading was 'anemic' with net value turnover at P3.73 billion, although he added that foreign transactions had 'helped in the rise, posting net inflows of P40.94 million.'Regina Capital Development Corp. Managing Director Luis Limlingan, meanwhile, said that investors continued to 'slowly reposition' themselves.''On the local front, the highlights are the December CPI (consumer price index), scheduled for release on Jan. 6, and other key indicators such as the reserves (Jan. 6), unemployment rate and balance of trade (Jan.9) and (Jan. 10),' he added.All but two sector indices ended Monday the red with holding firms down the most by 0.50 percent. Services and financials, on the other hand, gained 1.52 percent and 0.91 percent, respectivel
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Peso Weakening and Stock Market Downturn Spark Investor CautionThe Philippine peso continued its downward trend on Tuesday, reaching its lowest point in over four months, while the stock market plunged to a four-month low. Investors are adopting a cautious stance ahead of crucial policy meetings this week, including those of the US Federal Reserve and the Bangko Sentral ng Pilipinas.
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Peso and Stock Market Rebound on Rate Cut Expectations and RemittancesThe Philippine peso and stock market saw a positive bounce on Monday, driven by expectations of further interest rate cuts by the Bangko Sentral ng Pilipinas (BSP) in 2025 and increased remittances from overseas Filipinos. Analysts suggest investor confidence was boosted by hints from the BSP regarding potential rate reductions.
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Philippine Peso Gains Ground in Last Trading Day of 2024, Stock Market Up Despite DipThe Philippine peso strengthened slightly on the final trading day of 2024, but still ended the year weaker than the previous year. The stock market, however, gained year-on-year despite a slight decline on Friday. Financial markets will be closed from December 30 to January 1 for national holidays, with trading resuming on January 2.
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Stock market up, peso down on first trading day of 2025Latest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
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Peso Dips as Philippine Stock Market Opens 2025 with GainsThe Philippine peso weakened slightly on the first trading day of 2025, while the stock market saw modest gains. Analysts attributed the positive market performance to bargain hunting and the peso's strengthening against the US dollar.
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Peso Dips Against Dollar as Philippine Stock Market AdvancesThe Philippine peso weakened against the dollar in the first trading week of 2025, while the stock market surged on positive manufacturing data. The peso fell by 29 centavos to 58.2 Philippine pesos to one US dollar, while the Philippine Stock Exchange index (PSEi) rose by 0.82 percent to close at 6,603.81. Analysts attributed the peso's decline to the dollar's strength against major global currencies and wider current account deficit projections. The stock market's performance was fueled by strong December manufacturing data, which boosted investor confidence.
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