the Bangko Sentral ng Pilipinas .
Four of the six indices ended in the red. Mining and oil declined by 1.01 percent, industrial by 0.89 percent, property by 0.44 percent and services by 0.25 percent.Value turnover reached P4.45 billion. Foreign investors were net sellers, with total outlaws amounting to P495.9 million. Observers are also tracking developments in Seoul after South Korean lawmakers impeached President Yoon Suk Yeol at the weekend in the wake of his short-lived declaration of martial law this month.
That came after investors were left unimpressed last week with Beijing’s pledge to introduce measures aimed at “lifting consumption vigorously” as part of a stimulus drive. Elsewhere in Asia, there were also losses in Sydney, Mumbai, Bangkok, Manila and Jakarta, though Singapore, Wellington and Taipei rose. Tokyo was flat.
The Fed is widely expected to cut interest rates again Wednesday but there are fears it will have to slow its pace of easing next year owing to sticky inflation and bets that president-elect Donald Trump’s tax cuts and tariffs will reignite prices.
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