Stocks lower on weaker economic data

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 50 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 51%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

The local stock market continued to edge lower, this time due to weaker foreign investment and trade data. ManilaBulletin

The main index shed 10.21 points or 0.16 percent to close at 6,469.42 with sectoral indices evenly split. Volume improved to 1 billion shares worth P7.22 billion as gainers and losers were tied at 88 each while 57 were unchanged.

“Philippine shares ended trading muted as investors shifted their focus to March's highly anticipated inflation report with the S&P500 closing relatively flat, while the DJIA rose by 0.29 percent and the Nasdaq lost 0.43 percent,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He added that, “Locally, it was reported that there was a modest net foreign direct investment inflows reading of $448 million in January. Meanwhile, the latest PH unemployment rate came in unchanged at 4.8 percent in February .“ Philstocks Financial Assistant Research Manager Claire Alviar said “The local bourse declined amid dismal local economic data while waiting for the US inflation rate.”

She noted that , “At home, the drop in FDI net inflow in January year-on-year, as well as the decline in imports and exports in February, which indicate a weakened demand both domestically and internationally, had a negative impact on investor sentiment.”

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 ZA
 

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

Where are those investments pledged during Marcos' travels?

South Africa South Africa Latest News, South Africa South Africa Headlines

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

Stocks down as investors digest gloomy jobs dataThe benchmark Philippine Stock Exchange Index closed lower as stocks resumed trading after the Holy Week break as investors weighed the latest job numbers showing more Filipinos without work. | miguelrcamusINQ /PDI
Source: inquirerdotnet - 🏆 3. / 86 Read more »

World stocks hope for Fed pause, dollar stallsMSCI's gauge of stocks across the globe gains 0.43% on Tuesday, April 11.
Source: rapplerdotcom - 🏆 4. / 86 Read more »

Asian stocks ease ahead of US inflation data, Fed minutesAsian equities drifted lower ahead of a crucial U.S. inflation report that will likely influence how soon the Federal Reserve will end its aggressive rate hikes, with markets betting on at least one more at next month’s policy meeting. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Asian stocks ease ahead of US inflation data, Fed minutesAsian equities drifted lower ahead of a crucial U.S. inflation report that will likely influence how soon the Federal Reserve will end its aggressive rate hikes, with markets betting on at least one more at next month’s policy meeting. | Reuters
Source: inquirerdotnet - 🏆 3. / 86 Read more »

Tech rally faces a reckoning ahead of tough earnings season | Bloomberg NewsThis year’s 20 percent rally in United States technology stocks is decoupling from reality ahead of what’s predicted to be a gloomy reporting season, the latest MLIV Pulse survey shows. While investors have flocked to tech in the market shakeup amid recent banking turmoil, the rotation is at odds with…
Source: BusinessMirror - 🏆 19. / 59 Read more »