News Formal

Stock market plunges 2.58%; peso rises to P57:$1 territory

  • 📰 TheManilaTimes
  • ⏱ Reading Time:
  • 21 sec. here
  • 10 min. at publisher
  • 📊 Quality Score:
  • News: 40%
  • Publisher: 92%

Stock समाचार

Market,Plunges,2.58%

THE stock market plunged on Thursday on continued fears of a US recession, but the peso closed at its strongest in over two months as rate cut expectations heightened.

The benchmark Philippine Stock Exchange index tumbled by 2.58 percent, or 170.57 points, to 6,434.73 while the peso gained 18 centavos to P57.9 against the dollar, its highest close since May 20.The broader All Shares, meanwhile, shed 80.43 points, or 2.24 percent, to 3,516.47.The currency opened at P57.85:$1 and ranged from P57.68 to P57.915. Volume surged to P1.762 billion from P1.356 billion last Friday.Security Bank Corp.

'Union Bank of the Philippines chief economist Ruben Carlo Asuncion also said the strength of the peso 'bodes well for the potential BSP rate cut next week.''Plus, if second-quarter gross domestic product print comes in as weaker-than-expected, a rate cut will certainly be welcome,' he added.Preliminary April-June growth data will be released on Thursday.Philstocks Financials Inc.

हमने इस समाचार को संक्षेप में प्रस्तुत किया है ताकि आप इसे तुरंत पढ़ सकें। यदि आप समाचार में रुचि रखते हैं, तो आप पूरा पाठ यहां पढ़ सकते हैं। और पढो:

 /  🏆 2. in İN
 

आपकी टिप्पणी के लिए धन्यवाद। आपकी टिप्पणी समीक्षा के बाद प्रकाशित की जाएगी।

इंडिया ताज़ा खबर, इंडिया मुख्य बातें

Similar News:आप इससे मिलती-जुलती खबरें भी पढ़ सकते हैं जिन्हें हमने अन्य समाचार स्रोतों से एकत्र किया है।

Inflation news, fresh data seen lifting stock marketTHE stock market could build on lower-than-expected June inflation that has heightened expectations of an August rate cut and upcoming data releases, analysts said
स्रोत: TheManilaTimes - 🏆 2. / 92 और पढो »