PH stocks drop 1.6 percent over growth worries, Asia FX eye Fed comments

Australia News News

PH stocks drop 1.6 percent over growth worries, Asia FX eye Fed comments
Australia Australia Latest News,Australia Australia Headlines

MANILA - The Philippine stock market fell 1.

  • 📰 ANCALERTS
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 17%
  • Publisher: 50%

6 percent on Wednesday as weak export data raised concerns about the country's fragile economic recovery while broader emerging Asian shares were subdued after sharp losses a day earlier.

Philippine stocks fell as trade data weighed on sentiment one day before gross domestic product figures are released. "Trade trends will likely continue going into 2021 with a fragile global recovery expected to limit particular gains for the export sector," said Nicholas Mapa, a senior ING economist for the Philippines.Meanwhile, a $10 billion airport deal in Cavite province that formed one of the biggest Chinese projects in the country was canceled.

Many emerging markets in Asia fell sharply on Tuesday as investors tempered hopes for the quick passage of more US stimulus, which had boosted sentiment in recent weeks.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

ANCALERTS /  🏆 26. in AU
 

Australia Australia Latest News, Australia Australia Headlines



Render Time: 2025-01-17 08:19:15