Philippine stocks ended in the week in the red as US Federal Reserve Jerome Powell’s comment about inflation rate weighed on local and global markets.
The benchmark Philippine Stock Exchange index fell 76.26 points, or 1.23 percent, to close at 6,142.90, while the broader all-shares index declined by 36.37 points, or 1.08 percent, to settle at 3,329.42 Philstocks Financial Inc. research analyst Claire Alviar said Powell’s statement that inflation was still too high worried investors.
“Investors reacted negatively on the statement leading to the increase in 10-year Treasury yields which weighed future on the sentiment in the market,” Alviar said.A real estate advisory firm expects Panglao Island in Bohol province to surpass Boracay Island as the Philippines. top tourism...Borough Lasik Center, a leader in vision correction procedures, said Friday it is expanding its operations in the Visayas and...
Manila Standard website , launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: MlaStandard - 🏆 20. / 55 Read more »