News Formal

Philippine Stocks Drop on Heavy Foreign Selling Ahead of Central Bank Meetings

  • 📰 MlaStandard
  • ⏱ Reading Time:
  • 27 sec. here
  • 7 min. at publisher
  • 📊 Quality Score:
  • News: 31%
  • Publisher: 55%

Business Nouvelles

Philippine Stock Market,Foreign Selling,Central Bank Meetings

The Philippine stock market continued its downward trend, influenced by regional declines and heavy foreign selling, particularly before the US Federal Reserve's policy meeting. The Philippine Stock Exchange index fell 0.50 percent, while the peso weakened against the US dollar. Analysts attributed the decline to foreign investors re-allocating funds and anticipating potential policy rate cuts by the Bangko Sentral ng Pilipinas.

The Philippine stock market continued its downward streak, following regional decline, on heavy foreign selling ahead of the central banks’ policy meetings.

Value turnover reached P4.35 billion, below the year-to-date average of P5.17 billion. There were 83 advancers and 104 decliners, while 61 names were unchanged. There were few catalysts to drive region-wide activity before the US central bank’s interest rate decision, with Wall Street providing a negative lead as profit-takers moved in while economic data was mixed.

“We are experiencing a whirlwind of change and uncertainty that profoundly affects global economies,” said Stephen Innes of SPI Asset Management.

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:

 /  🏆 20. 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.

Bargain-hunting likely to lift PH stocks this weekPhilippine stocks are expected to rebound this week after the last week’s decline as investors await the latest inflation report. The Philippine
La source: MlaStandard - 🏆 20. / 55 Lire la suite »

PH stocks edge lower on higher US inflation dataPhilippine stocks ended lower Thursday, mirroring the mixed results of other markets as investors digest the latest US inflation report. The Philippine
La source: MlaStandard - 🏆 20. / 55 Lire la suite »

PH stocks plummet,peso rises to 58.71/dollarPhilippine stocks fell by more than 100 points Wednesday, while the peso bounced back after hitting the record low on Tuesday. The bellwether Philippine
La source: MlaStandard - 🏆 20. / 55 Lire la suite »