Stocks bounce on strong corporate earnings

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

The PSEi bounced on strong corporate earnings reports and managed to recover most of the previous day’s loss due the knee jerk reaction to the US rating downgrade.

The benchmark jumped by 93.48 points or 1.44 percent to close at 6,576.76 as the Property sector rallied to lead the advance although the Mining and Oil counter remained in the red. Volume was thinner though at 1.2 billion shares worth P3.95 billion as gainers beat losers 99 to 81 with 50 unchanged.

He added that, “Back home, investors brushed off the possible implication of Fitch's surprise US sovereign credit downgrade on the health of the global economy, by looking forward to the upcoming July CPI and more earnings arriving in the coming days.“ “Additionally, China’s Caixin services purchasing managers index which came in at 54.1, above expectations, was cheered by many, spurring optimism with respect to the country’s economic recovery,” he noted.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stocks halt slide, ends flatThe local stock market stopped sliding and ended almost flat on the first day of August 1 as investors wait for more cues from upcoming economic and earnings reports.
Source: manilabulletin - 🏆 25. / 51 Read more »

Stocks plunge after US debt rating downgradeThe local stock market fell together with most global bourses after Fitch downgraded its US credit rating.
Source: manilabulletin - 🏆 25. / 51 Read more »

Stocks halt slide, ends flatThe local stock market stopped sliding and ended almost flat on the first day of August 1 as investors wait for more cues from upcoming economic and earnings reports.
Source: manilabulletin - 🏆 25. / 51 Read more »