THE peso started the week on the wrong foot and the stock market also hit an over 7-month low, with investors said to be waiting for the results of a US Federal Reserve policy meeting and the release of the Philippines' 2024 growth data.
THE peso started the week on the wrong foot and the stock market also hit an over 7-month low, with investors said to be waiting for the results of a US Federal Reserve policy meeting and the release of the Philippines' 2024 growth data.The currency weakened by 12 and a half centavos to P58.435 while the benchmark Philippine Stock Exchange index lost 99.32 points, or 1.58 percent, to end Monday at 6,196.88 — its lowest close since June 21, 2024's 6,158.48.
'Foreigners were net sellers with net outflows amounting to P322.39 million,' he added.Regina Capital Development Corp. Managing Director Luis Limlingan, meanwhile, said, 'Philippine shares fell below the 6,200 level as the market braces for a shortened trading week with more key economic indicators ahead.'Jan. 29 has been declared a special non-working holiday to mark Chinese New Year.
Weakens Psei Falls To 100 Territory
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