Peso weakens further, pulls stock market down

THE peso and stock market continued to fall on Thursday ahead of the release of US inflation data that could provide cues about the likely outcome of next month's Federal Reserve policy meeting.The currency weakened by 34 centavos to P57.36 against the dollar, while the benchmark Philippine Stock Exchange index shed 13.05 points, or 0.18 percent, to end the day at 7.411.47.The broader All Shares gained 4.16 points, or 0.10 percent, to 4,037.52.The peso opened at P57.

research manager Japhet Tantiangco, meanwhile, said 'investors continued to take profits amid the peso's sustained depreciation, now going further below the 57.00 mark.''Trading was still tepid with net value turnover registering P4.05 billion, below the year-to-date average of P5.21 billion,' he added, while 'foreigners were net sellers for a 2nd straight day with net outflows amounting to P73.58 million.'Regina Capital Development Corp.

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.

Peso, stocks rebound after Fed cut; PSEi breaches 7,200THE peso and stock market rebounded on Thursday with sentiment said to have risen following a jumbo rate cut by the US Federal Reserve (Fed).
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Peso weakens anew, stock market also drops as fears riseTHE peso continued to fall on Tuesday and the stock market retreated slightly from an over four-year high, with sentiment said to have weakened due to fears of a wider war in the Middle East and the reduced likelihood of another jumbo US Federal Reserve rate cut.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Peso back at P57 vs dollar; stock market down 1.5%THE peso fell to the P57:$1 level on Wednesday, and the stock market also ended down in 7,400 territory, bucking gains elsewhere in the region.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Stock market surges but peso nears P57:$1THE peso opened the week on a down note, moving closer to the P57:$1 level as the dollar strengthened, while the stock market hit pre-pandemic highs amid hopes of more policy rate cuts.
Source: TheManilaTimes - 🏆 2. / 92 Read more »

Peso again near P56:$1; stock market reboundsTHE peso fell on Thursday but avoided a return to the P56:$1 level while the stock market posted a strong rebound back to 7,400 territory.
Source: TheManilaTimes - 🏆 2. / 92 Read more »