Stocks decline as investors await Fed action

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 22%
  • Publisher: 55%

مصر أخبار أخبار

مصر أحدث الأخبار,مصر عناوين

Philippine stocks fell for a fourth day, but the benchmark index managed to stay above the 6,000 level, as investors

The Philippine Stock Exchange index slipped 6.93 points, or 0.12 percent, to close at 6,041.04, while the broader all-shares index lost 2.64 points, or 0.08 percent, to settle at 3,271.66.

Rizal Commercial Banking Corp. chief economic Michael Ricafort said the Asian Development Bank’s downward revision of its Philippine gross domestic product growth estimate for 2023 to 5.7 percent from 6 percent also contributed to the market’s negative sentiment. The optimism that the Fed will be able to cut borrowing costs next year has evaporated over the summer as the US economy shows few signs of weakness and the labor market remains robust.

Policymakers are aiming to keep the United States on what Chicago Fed chief Austan Goolsbee called the “golden path”, attempting to temper inflation while averting a surge in unemployment and a major economic slowdown. Hong Kong, Tokyo, Shanghai, Sydney, Mumbai, Singapore, Wellington, Manila, Taipei and Bangkok all dropped.

Still, oil has retreated more than one percent over the past two days as the stronger dollar makes it expensive for buyers using other currencies.

لقد قمنا بتلخيص هذا الخبر حتى تتمكن من قراءته بسرعة. إذا كنت مهتمًا بالأخبار، يمكنك قراءة النص الكامل هنا. اقرأ أكثر:

 /  🏆 20. in EG
 

شكرًا لك على تعليقك. سيتم نشر تعليقك بعد مراجعته.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

The Philippine real estate market in 2Q 2023: Imminent business boom in LuzonThe second quarter of 2023 saw an economic slowdown due to high commodity prices and the lagged impact of interest
مصدر: MlaStandard - 🏆 20. / 55 اقرأ أكثر »

Metro Pacific to exit Philippine stock market in October 2023Infrastructure conglomerate Metro Pacific Investments Corp. (MPIC) said Wednesday it expects to be delisted from the Philippine Stock Exchange in
مصدر: MlaStandard - 🏆 20. / 55 اقرأ أكثر »