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 뉴스

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.

이 소식을 빠르게 읽을 수 있도록 요약했습니다. 뉴스에 관심이 있으시면 여기에서 전문을 읽으실 수 있습니다. 더 많은 것을 읽으십시오:

 /  🏆 2. in KR
 

귀하의 의견에 감사드립니다. 귀하의 의견은 검토 후 게시됩니다.

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

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
출처: TheManilaTimes - 🏆 2. / 92 더 많은 것을 읽으십시오 »