News Formal

Soaring US Treasury yields pummel Philippines stocks, peso

  • 📰 PhilstarNews
  • ⏱ Reading Time:
  • 39 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 19%
  • Publisher: 94%

Stock Nouvelles

France Dernières Nouvelles,France Actualités

Local stocks continued their slump, sinking the market to the 6,300 territory as the peso retreated to another 18-month low against the dollar.

The benchmark Philippine Stock Exchange index suffered its fifth consecutive loss yesterday, dropping by 0.62 percent or 39.66 points to settle at 6,371.75.MANILA, Philippines —

Philstocks Financial research and engagement officer Mikhail Plopenio said the local market joined its neighboring peers which also traded lower for Thursday’s session following the rise in the US’ long term Treasury yields. This was the peso’s worst close in more than 18 months or since its 58.80 to $1 close on Nov. 3, 2022. The local currency is now down by 3.265 from its end-2023 close of 55.37.

This developed as most Fed officials have signaled a higher-for-longer narrative, leading to broad dollar strength against major global currencies.Global Dominion commits to further introducing Sangla OR/CR in PhilippinesThe International Monetary Fund on Wednesday raised its 2024 growth forecast for China to 5%, citing recent policy moves by...

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

 /  🏆 1. in FR
 

Merci pour votre commentaire. Votre commentaire sera publié après examen.

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Livestock Philippines and Aquaculture Philippines 2024 highlight innovation, expertise to empower industryPasay City - Informa Markets in the Philippines is optimistic that this year’s Livestock Philippines and Aquaculture Philippines will empower stakeholders from both subsectors to adopt technology and enter new markets, helping fuel economic growth at the regional and national levels.
La source: BusinessMirror - 🏆 19. / 59 Lire la suite »

Livestock Philippines and Aquaculture Philippines 2024 lead way in driving business opportunities, industry growthManila, Philippines – Informa Markets in the Philippines is set to host again the Livestock Philippines and Aquaculture Philippines this year, highlighting innovation and technology to improve the agricultural economy particularly the livestock and aquaculture industries.
La source: BusinessMirror - 🏆 19. / 59 Lire la suite »