Stock market up, peso down on first trading day of 2025

Philippine financial markets opened 2025 on a mixed note, with equities up while the peso depreciated on the first trading day of the year, as players digested economic data releases and the end of the holiday season.The Philippine Stock Exchange index gained 21.60 points or 0.33% to 6,550.39 at the closing bell, while the broader All Shares index grew by 6.59 points or 0.18% to 3,755.10.

The headline S&P Global Philippines Manufacturing PMI stood at 54.3 in December, higher than the 53.8 in November. This matches the same reading recorded in April 2022, and the joint strongest since November 2017.Weaker pesoThe Philippine peso, meanwhile, weakened against the greenback as it shed 6.5 centavos to close at P57.91:$1 versus the close of P57.845:$1 on December 27, 2024, the last trading day of the previous year.

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Philippine Stock Market Outlook for 2025: Cautious Optimism Amidst Global HeadwindsAnalysts predict a mixed start to the year for the Philippine Stock Market, influenced by investor sentiment and global economic challenges. While rate cut expectations and a strong finish to 2024 provide some optimism, risks such as inflation, China's economic slowdown, and a stronger US dollar could temper growth.
Fonte: TheManilaTimes - 🏆 2. / 92 Leggi di più »