The PSEi added 46.07 points or 0.69 percent to close at 6,752.50 as Banks posted strong gains while the Services and Mining and Oil counters declined. Volume improved to 1.47 billion shares worth P10.56 billion as losers beat gainers by a hair at 89 to 88 while 47 were unchanged.
He noted that, “Wall Street is hoping for new guidance on how the central bank will act this autumn, but expectations are lower, with many expecting Powell to reiterate the Fed’s promise to slow inflation by raising interest rates.” Philstocks Financial Research and Engagement Officer Claire Alviar said “The local bourse closed higher along with other Asian markets as investors await the speech of Fed Chair Jerome Powell at Jackson Hole.”
She added that, “Moreover, net inflow of foreign investments worth $625.15 million year-to-date boosted investors’ sentiment as well.”
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CREATE-ing Business Opportunities? - BusinessWorld OnlineThe Angara Abello Concepcion Regala Cruz Law Offices or ACCRALAW recently concluded a seminar on the latest laws geared to promote foreign investments.
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China exerting growing pressure on foreign companies, study finds - BusinessWorld OnlineBERLIN — China is exerting increasing pressure on foreign companies doing business in its markets to bring them into line with its political agenda, broadening the “red lines” for issues to which it is allergic, a German study seen by Reuters shows. A survey of more than 100 companies by the Berlin-based Merics think tank […]
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